Company registration number 04658832 (England and Wales)
ROOF PLUS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ROOF PLUS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ROOF PLUS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
993,301
784,566
Current assets
Stocks
50,000
10,000
Debtors
5
4,902,950
3,292,434
Cash at bank and in hand
1,403,971
439,459
6,356,921
3,741,893
Creditors: amounts falling due within one year
6
(2,313,941)
(1,386,568)
Net current assets
4,042,980
2,355,325
Total assets less current liabilities
5,036,281
3,139,891
Creditors: amounts falling due after more than one year
7
(464,526)
(425,093)
Provisions for liabilities
(248,327)
(196,143)
Net assets
4,323,428
2,518,655
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
4,323,328
2,518,555
Total equity
4,323,428
2,518,655

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ROOF PLUS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 24 October 2023
Mr R Whitney
Director
Company Registration No. 04658832
ROOF PLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Roof Plus Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1B, Broughton Mills Road, Bretton, Chester, CH4 0BY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

The turnover shown in the profit and loss account represents the invoice value of goods sold/services provided, net of value added tax.

 

Retentions are included in turnover net of value added tax where they are expected to be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% straight line
Motor vehicles
20% straight line

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ROOF PLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
72
61
ROOF PLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2022
150,154
1,156,504
1,306,658
Additions
8,078
675,817
683,895
Disposals
-
0
(329,384)
(329,384)
At 31 March 2023
158,232
1,502,937
1,661,169
Depreciation and impairment
At 1 April 2022
95,950
426,143
522,093
Depreciation charged in the year
19,395
282,685
302,080
Eliminated in respect of disposals
-
0
(156,305)
(156,305)
At 31 March 2023
115,345
552,523
667,868
Carrying amount
At 31 March 2023
42,887
950,414
993,301
At 31 March 2022
54,204
730,362
784,566
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,243,181
1,487,765
Amounts owed by group undertakings
1,500,000
1,500,000
Other debtors
1,093,159
258,046
Prepayments and accrued income
66,610
46,623
4,902,950
3,292,434
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
66,667
66,667
Trade creditors
1,441,891
961,413
Other taxation and social security
449,374
95,462
Other creditors
356,009
263,026
2,313,941
1,386,568

Hire purchase agreements totalling £319,681 (2022 - £205,568) disclosed under creditors falling due within one year are secured by the company.

ROOF PLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
116,667
183,333
Hire purchase agreements
347,859
241,760
464,526
425,093

Hire purchase agreements totalling £347,859 (2022 - £241,760) disclosed under creditors falling due after more than one year are secured by the company.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
16,100
16,100
Between two and five years
2,683
18,783
In over five years
-
0
-
0
18,783
34,883
9
Related party transactions
Balances with related parties

The following amounts were outstanding at the reporting end date:

Amounts owed by
Amounts owed to
related parties
related parties
2023
2022
2023
2022
£
£
£
£
Whitney Holdings Limited
1,500,000
1,500,000
-
0
-
0

The amount above has been included in debtors. The amount is repayable on demand and did not attract interest.

10
Directors' transactions

During the year the directors entered into the following advances and credits with the company:

ROOF PLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
10
Directors' transactions
(Continued)
- 7 -
Description
Opening balance
Amounts advanced
Closing balance
£
£
£
Loan
137,991
794,202
932,193
137,991
794,202
932,193

Directors advances are repayable on demand and the overdrawn balances were cleared post year end.

11
Parent company

Whitney Holdings Limited is the 100% shareholder of Roof Plus Limited. The registered office address of Whitney Holdings Limited is Unit 1B, Broughton Mills Road, Bretton, Chester, CH4 0BY.

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