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REGISTERED NUMBER: 10025241 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PLAXTOL ROOFING COMPANY LIMITED

PLAXTOL ROOFING COMPANY LIMITED (REGISTERED NUMBER: 10025241)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLAXTOL ROOFING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: J Patterson





SECRETARY: S W Brummitt





REGISTERED OFFICE: Gwynfa House
677 Princes Road
Dartford
Kent
DA2 6EF





REGISTERED NUMBER: 10025241 (England and Wales)





ACCOUNTANTS: Kelley & Lowe Limited
Gwynfa House
677 Princes Road
Dartford
Kent
DA2 6EF

PLAXTOL ROOFING COMPANY LIMITED (REGISTERED NUMBER: 10025241)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment property 4 3,570,000 3,315,000

CURRENT ASSETS
Debtors 5 156,046 250
Cash at bank and in hand 7,033 2,355
163,079 2,605
CREDITORS
Amounts falling due within one year 6 1,881,686 2,967,384
NET CURRENT LIABILITIES (1,718,607 ) (2,964,779 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,851,393

350,221

CREDITORS
Amounts falling due after more than one
year

7

(23,333

)

(33,333

)

PROVISIONS FOR LIABILITIES (83,105 ) (78,985 )
NET ASSETS 1,744,955 237,903

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 8 297,780 286,445
Retained earnings 1,447,075 (48,642 )
1,744,955 237,903

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PLAXTOL ROOFING COMPANY LIMITED (REGISTERED NUMBER: 10025241)

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 10 October 2023 and were signed by:





J Patterson - Director


PLAXTOL ROOFING COMPANY LIMITED (REGISTERED NUMBER: 10025241)

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


1. STATUTORY INFORMATION

Plaxtol Roofing Company 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 as modified by the revaluation of certain assets.

The financial statements are prepared on a going concern basis, notwithstanding the deficiency of net assets, on the grounds that the director has confirmed the necessary funds will be made available to enable the company to meet its obligations as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

PLAXTOL ROOFING COMPANY LIMITED (REGISTERED NUMBER: 10025241)

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


4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2022 3,315,000
Additions 239,546
Revaluations 15,454
At 31 March 2023 3,570,000
NET BOOK VALUE
At 31 March 2023 3,570,000
At 31 March 2022 3,315,000

Fair value at 31 March 2023 is represented by:
£
Valuation in 2021 52,310
Valuation in 2022 313,121
Valuation in 2023 15,454
Cost 3,189,115
3,570,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 155,000 -
Other debtors 1,046 250
156,046 250

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 1,146 1,971
Taxation and social security 4,537 1,237
Other creditors 1,866,003 2,954,176
1,881,686 2,967,384

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 23,333 33,333

PLAXTOL ROOFING COMPANY LIMITED (REGISTERED NUMBER: 10025241)

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


8. RESERVES
Non-distributable
reserve
£
At 1 April 2022 286,445
Non-distributable reserve 11,335

At 31 March 2023 297,780

9. RELATED PARTY DISCLOSURES

Creditors include loans totalling £1,855,384 from companies under common control. These loans attract interest at 1% and are repayable on demand. During the year, one of these companies, waived repayment of £1.5m of the balance on its loan.