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REGISTERED NUMBER: 04423284 (England and Wales)














KEYSTONE ROOFING SUPPLIES LTD

Unaudited Financial Statements

for the Year Ended 30 June 2023






KEYSTONE ROOFING SUPPLIES LTD (REGISTERED NUMBER: 04423284)

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


KEYSTONE ROOFING SUPPLIES LTD

Company Information
for the Year Ended 30 June 2023







Directors: Mr S T Simpson
Mr P Walters
Mr F B Simpson





Secretary: Mr S T Simpson





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





Registered number: 04423284 (England and Wales)





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

KEYSTONE ROOFING SUPPLIES LTD (REGISTERED NUMBER: 04423284)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 122,844 129,439
Investments 5 264,050 264,050
386,894 393,489

CURRENT ASSETS
Stocks 630,949 670,569
Debtors 6 1,125,077 1,135,388
Cash at bank and in hand 178,311 311,280
1,934,337 2,117,237
CREDITORS
Amounts falling due within one year 7 1,096,099 1,429,865
NET CURRENT ASSETS 838,238 687,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,225,132

1,080,861

CREDITORS
Amounts falling due after more than
one year

8

(8,556

)

(24,297

)

PROVISIONS FOR LIABILITIES (27,389 ) (21,906 )
NET ASSETS 1,189,187 1,034,658

KEYSTONE ROOFING SUPPLIES LTD (REGISTERED NUMBER: 04423284)

Balance Sheet - continued
30 June 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 158 158
Share premium 592 592
Capital redemption reserve 36 36
Retained earnings 1,188,401 1,033,872
SHAREHOLDERS' FUNDS 1,189,187 1,034,658

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


KEYSTONE ROOFING SUPPLIES LTD (REGISTERED NUMBER: 04423284)

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


1. STATUTORY INFORMATION

Keystone Roofing Supplies 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 20% on cost

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.

KEYSTONE ROOFING SUPPLIES LTD (REGISTERED NUMBER: 04423284)

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 17 (2022 - 18 ) .

KEYSTONE ROOFING SUPPLIES LTD (REGISTERED NUMBER: 04423284)

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 520,170
Additions 49,754
At 30 June 2023 569,924
Depreciation
At 1 July 2022 390,731
Charge for year 56,349
At 30 June 2023 447,080
Net book value
At 30 June 2023 122,844
At 30 June 2022 129,439

Included in the total net book value of tangible fixed assets held was £56,280 in respect of assets held under finance leases and hire purchase contracts.

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Investments 226,750 226,750
Additions 37,300 37,300
264,050 264,050

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,030,742 1,070,103
Other debtors 94,335 65,285
1,125,077 1,135,388

KEYSTONE ROOFING SUPPLIES LTD (REGISTERED NUMBER: 04423284)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 98,519 140,741
Hire purchase contracts 16,734 35,057
Trade creditors 799,375 1,068,130
Taxation and social security 162,818 166,802
Other creditors 18,653 19,135
1,096,099 1,429,865

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 8,556 24,297