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Registration number: 07312239

Nationwide Roofing (Southern) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Nationwide Roofing (Southern) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Nationwide Roofing (Southern) Limited

Company Information

Directors

HL Hall

L Way

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail and Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Nationwide Roofing (Southern) Limited

(Registration number: 07312239)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

113,603

99,242

Current assets

 

Debtors

6

294,179

279,439

Cash at bank and in hand

 

62,436

166,165

 

356,615

445,604

Creditors: Amounts falling due within one year

7

(327,269)

(391,392)

Net current assets

 

29,346

54,212

Total assets less current liabilities

 

142,949

153,454

Creditors: Amounts falling due after more than one year

7

(1,167)

(4,667)

Provisions for liabilities

(18,856)

(18,856)

Net assets

 

122,926

129,931

Capital and reserves

 

Called up share capital

10

1

1

Capital redemption reserve

49

49

Retained earnings

122,876

129,881

Shareholders' funds

 

122,926

129,931

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Nationwide Roofing (Southern) Limited

(Registration number: 07312239)
Balance Sheet as at 31 December 2022

Approved and authorised by the Board on 3 November 2023 and signed on its behalf by:



 

.........................................

HL Hall

Director

 

Nationwide Roofing (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Nationwide Roofing (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% Reducing Balance

Motor vehicles

20% Reducing Balance

Office Equipment

25% Reducing Balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

 

Nationwide Roofing (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Taxation charge

The tax for the period is attributable to:

2021
£

Current Tax

UK corporation tax

6,583

Total current tax charge

6,583

Deferred Tax

Arising from origination and reversal of timing differences

927

Total deferred tax charge

927

Total tax charge for period

7,510

 

Nationwide Roofing (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

83,724

101,863

185,587

Additions

22,008

23,375

45,383

Disposals

(15,950)

-

(15,950)

At 31 December 2022

89,782

125,238

215,020

Depreciation

At 1 January 2022

46,168

40,177

86,345

Charge for the year

10,358

16,622

26,980

Eliminated on disposal

(11,908)

-

(11,908)

At 31 December 2022

44,618

56,799

101,417

Carrying amount

At 31 December 2022

45,164

68,439

113,603

At 31 December 2021

37,556

61,686

99,242

6

Debtors

Current

2022
£

2021
£

Trade debtors

72,813

111,822

Prepayments

55,752

3,439

Other debtors

165,614

164,178

 

294,179

279,439

7

Creditors

Creditors: amounts falling due within one year

 

Nationwide Roofing (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

3,500

3,500

Trade creditors

 

265,375

251,855

Taxation and social security

 

18,264

64,933

Accruals and deferred income

 

3,885

60,839

Other creditors

 

36,245

10,265

 

327,269

391,392

 

Nationwide Roofing (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

1,167

4,667

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

HP and finance lease liabilities

1,167

4,667

2022
£

2021
£

Current loans and borrowings

HP and finance lease liabilities

3,500

3,500

9

Dividends

   

2022

 

2021

   

£

 

£

Interim dividend of £2,000.00 (2021 - £55,737.00) per ordinary share

 

2,000

 

55,737

         

10

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1