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REGISTERED NUMBER: 04942384 (England and Wales)














RUSSELL ROOFING LTD

Unaudited Financial Statements

for the Year Ended 30 June 2023






RUSSELL ROOFING LTD (REGISTERED NUMBER: 04942384)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


RUSSELL ROOFING LTD

Company Information
for the Year Ended 30 June 2023







Directors: Mr S T Simpson
Mr F B Simpson





Secretary: Mr S T Simpson





Registered office: Artisans House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF





Registered number: 04942384 (England and Wales)





Accountants: Cobley Desborough
Chartered Certified Accountants
Chartered Tax Advisers
Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF

RUSSELL ROOFING LTD (REGISTERED NUMBER: 04942384)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 253,321 261,057

CURRENT ASSETS
Stocks - 66,325
Debtors 5 1,482,501 1,663,206
Cash at bank 109,661 108,930
1,592,162 1,838,461
CREDITORS
Amounts falling due within one year 6 1,425,006 1,372,224
NET CURRENT ASSETS 167,156 466,237
TOTAL ASSETS LESS CURRENT
LIABILITIES

420,477

727,294

CREDITORS
Amounts falling due after more than
one year

7

(52,822

)

(77,148

)

PROVISIONS FOR LIABILITIES (58,814 ) (39,392 )
NET ASSETS 308,841 610,754

RUSSELL ROOFING LTD (REGISTERED NUMBER: 04942384)

Balance Sheet - continued
30 June 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 111 117
Share premium 594 594
Capital redemption reserve 35 27
Retained earnings 308,101 610,016
SHAREHOLDERS' FUNDS 308,841 610,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





Mr S T Simpson - Director


RUSSELL ROOFING LTD (REGISTERED NUMBER: 04942384)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Russell Roofing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

RUSSELL ROOFING LTD (REGISTERED NUMBER: 04942384)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Going concern
The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 22 ) .

RUSSELL ROOFING LTD (REGISTERED NUMBER: 04942384)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 July 2022 497,470
Additions 71,519
At 30 June 2023 568,989
Depreciation
At 1 July 2022 236,413
Charge for year 79,255
At 30 June 2023 315,668
Net book value
At 30 June 2023 253,321
At 30 June 2022 261,057

Included in the total net book value of tangible fixed assets held was £208,549 in respect of assets held under finance leases and hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,345,347 1,457,375
Other debtors 137,154 205,831
1,482,501 1,663,206

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 63,483 69,802
Trade creditors 930,525 1,221,523
Taxation and social security 34,941 63,634
Other creditors 396,057 17,265
1,425,006 1,372,224

RUSSELL ROOFING LTD (REGISTERED NUMBER: 04942384)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 52,822 77,148