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REGISTERED NUMBER: 07541812 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ROOFING TRADE SERVICES LIMITED

ROOFING TRADE SERVICES LIMITED (REGISTERED NUMBER: 07541812)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROOFING TRADE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: K P FURLONG
P J FURLONG
J RIVAS-FURLONG





REGISTERED OFFICE: 109 BAKER STREET
LONDON
W1U 6RP





REGISTERED NUMBER: 07541812 (England and Wales)





ACCOUNTANTS: GOLDWYNS
CHARTERED ACCOUNTANTS
109 BAKER STREET
LONDON
W1U 6RP

ROOFING TRADE SERVICES LIMITED (REGISTERED NUMBER: 07541812)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 349,822 90,225

CURRENT ASSETS
Stocks 5 563,217 476,078
Debtors 6 557,059 509,027
Cash at bank and in hand 177,776 156,789
1,298,052 1,141,894
CREDITORS
Amounts falling due within one year 7 728,017 540,260
NET CURRENT ASSETS 570,035 601,634
TOTAL ASSETS LESS CURRENT
LIABILITIES

919,857

691,859

CREDITORS
Amounts falling due after more than one year 8 106,514 9,828
NET ASSETS 813,343 682,031

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 813,243 681,931
SHAREHOLDERS' FUNDS 813,343 682,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

ROOFING TRADE SERVICES LIMITED (REGISTERED NUMBER: 07541812)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 30 October 2023 and were signed on its behalf by:




K P FURLONG - Director



P J FURLONG - Director


ROOFING TRADE SERVICES LIMITED (REGISTERED NUMBER: 07541812)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Roofing Trade Services 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.

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 represents net invoiced sales of goods, excluding value added tax, based on delivery of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - over the remaining period of the lease
Plant and machinery - 50% on cost
Fixtures and fittings - 50% on cost
Motor vehicles - 33.333% on cost
Computer equipment - 50% 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.

Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

ROOFING TRADE SERVICES LIMITED (REGISTERED NUMBER: 07541812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

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 in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 March 2022 86,358 51,985 47,986
Additions - - 2,522
Disposals - - -
At 28 February 2023 86,358 51,985 50,508
DEPRECIATION
At 1 March 2022 58,902 51,985 45,266
Charge for year 9,152 - 2,983
Eliminated on disposal - - -
At 28 February 2023 68,054 51,985 48,249
NET BOOK VALUE
At 28 February 2023 18,304 - 2,259
At 28 February 2022 27,456 - 2,720

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 478,117 8,956 673,402
Additions 408,413 833 411,768
Disposals (274,140 ) - (274,140 )
At 28 February 2023 612,390 9,789 811,030
DEPRECIATION
At 1 March 2022 419,293 7,731 583,177
Charge for year 112,127 908 125,170
Eliminated on disposal (247,139 ) - (247,139 )
At 28 February 2023 284,281 8,639 461,208
NET BOOK VALUE
At 28 February 2023 328,109 1,150 349,822
At 28 February 2022 58,824 1,225 90,225

ROOFING TRADE SERVICES LIMITED (REGISTERED NUMBER: 07541812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022 108,925
Additions 408,413
Disposals (86,130 )
At 28 February 2023 431,208
DEPRECIATION
At 1 March 2022 83,377
Charge for year 98,669
Eliminated on disposal (78,953 )
At 28 February 2023 103,093
NET BOOK VALUE
At 28 February 2023 328,115
At 28 February 2022 25,548

5. STOCKS
2023 2022
£    £   
Stocks 563,217 476,078

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 490,974 416,768
Other debtors 31,122 29,141
Deferred tax asset
Accelerated capital allowances 12,142 42,608
Prepayments and accrued income 22,821 20,510
557,059 509,027

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 54,340 13,604
Trade creditors 562,439 402,250
Tax 5,168 53,138
Social security and other taxes 37,193 27,034
VAT 58,291 34,132
Other creditors 1,997 1,605
Accrued expenses 8,589 8,497
728,017 540,260

ROOFING TRADE SERVICES LIMITED (REGISTERED NUMBER: 07541812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 106,514 9,828

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 54,340 13,604
Between one and five years 106,514 9,828
160,854 23,432

Non-cancellable operating leases
2023 2022
£    £   
Within one year 160,000 160,000
Between one and five years 120,000 280,000
280,000 440,000

10. SECURED DEBTS

There is a fixed and floating charge over the company's assets by a Bank.

11. DEFERRED TAX
£   
Balance at 1 March 2022 (42,608 )
Accelerated capital allowances 30,466
Balance at 28 February 2023 (12,142 )

12. CALLED UP SHARE CAPITAL


Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

ROOFING TRADE SERVICES LIMITED (REGISTERED NUMBER: 07541812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

13. RESERVES
Retained
earnings
£   

At 1 March 2022 681,931
Profit for the year 131,312
At 28 February 2023 813,243