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REGISTERED NUMBER: 12038409 (England and Wales)

















EROOFING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






EROOFING LIMITED (REGISTERED NUMBER: 12038409)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EROOFING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mrs N Watts
Mrs F K Wheeler
S R Watts
A J F Wheeler





REGISTERED OFFICE: Unit 2 Hillgate
Wilbury Way
Hitchin
Hertfordshire
SG4 0RY





REGISTERED NUMBER: 12038409 (England and Wales)





ACCOUNTANTS: Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

EROOFING LIMITED (REGISTERED NUMBER: 12038409)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,142 45,284

CURRENT ASSETS
Stocks 5 345,494 332,160
Debtors 6 156,653 366,878
Cash at bank and in hand 34,274 20,104
536,421 719,142
CREDITORS
Amounts falling due within one year 7 433,201 614,027
NET CURRENT ASSETS 103,220 105,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,362

150,399

PROVISIONS FOR LIABILITIES 8 9,146 8,370
NET ASSETS 143,216 142,029

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 10 143,016 141,829
SHAREHOLDERS' FUNDS 143,216 142,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





A J F Wheeler - Director


EROOFING LIMITED (REGISTERED NUMBER: 12038409)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Eroofing Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 applicable to small companies. 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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Turnover
The company supplies roofing materials on-line. Turnover is recognised when goods are despatched to customers and 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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 Profit and Loss Account.

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.

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.

EROOFING LIMITED (REGISTERED NUMBER: 12038409)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued

Significant judgements and estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

In the preparation of these financial statements, the company's critical accounting judgements and estimates are in respect of the net realisable value of stock and the recoverability of debtors. These judgements and estimates are continually reviewed and based on experience and other factors, including expectations of future events, that are believed to be reasonable in the prevailing circumstances.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 February 2022 44,485 - 2,710 47,195
Additions - 16,441 - 16,441
At 31 January 2023 44,485 16,441 2,710 63,636
DEPRECIATION
At 1 February 2022 1,857 - 54 1,911
Charge for year 10,657 1,245 681 12,583
At 31 January 2023 12,514 1,245 735 14,494
NET BOOK VALUE
At 31 January 2023 31,971 15,196 1,975 49,142
At 31 January 2022 42,628 - 2,656 45,284

5. STOCKS
2023 2022
£    £   
Stocks 345,494 332,160

EROOFING LIMITED (REGISTERED NUMBER: 12038409)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 114,209 339,386
Other debtors 25,304 -
VAT - 8,788
Prepayments and accrued income 17,140 18,704
156,653 366,878

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 35,512 376,789
Amounts owed to group undertakings 333,293 -
Tax 13,345 7,685
Social security and other taxes 9,449 -
VAT 30,594 -
Other creditors 7,803 28,028
Directors' current accounts 25 25
Accrued expenses 3,180 201,500
433,201 614,027

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,146 8,370

Deferred
tax
£   
Balance at 1 February 2022 8,370
Provided during year 776
Capital allowances in advance
of depreciation
Balance at 31 January 2023 9,146

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
100 Ordinary B £1 100 100
200 200

EROOFING LIMITED (REGISTERED NUMBER: 12038409)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

10. RESERVES
Retained
earnings
£   

At 1 February 2022 141,829
Profit for the year 51,187
Dividends (50,000 )
At 31 January 2023 143,016

11. RELATED PARTY DISCLOSURES

During the period the Company:
- borrowed £50,000 from its parent company; and
- paid salaries of £14,300 (2022: £16,900) to its directors.

At the balance sheet date the Company:
- owed £50,000 to its parent company; and
- owed £25 (2022: £25) to a director
There are no terms as to payment of interest or repayment of capital in respect of these loans.