T.O Roofing Limited 13935975 false 2022-02-23 2023-03-31 2023-03-31 The principal activity of the company is that of roofing activities. Digita Accounts Production Advanced 6.30.9574.0 true true 13935975 2022-02-23 2023-03-31 13935975 2023-03-31 13935975 core:CurrentFinancialInstruments 2023-03-31 13935975 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13935975 core:Non-currentFinancialInstruments 2023-03-31 13935975 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13935975 core:Goodwill 2023-03-31 13935975 core:FurnitureFittingsToolsEquipment 2023-03-31 13935975 core:MotorVehicles 2023-03-31 13935975 bus:SmallEntities 2022-02-23 2023-03-31 13935975 bus:AuditExemptWithAccountantsReport 2022-02-23 2023-03-31 13935975 bus:FullAccounts 2022-02-23 2023-03-31 13935975 bus:SmallCompaniesRegimeForAccounts 2022-02-23 2023-03-31 13935975 bus:RegisteredOffice 2022-02-23 2023-03-31 13935975 bus:Director2 2022-02-23 2023-03-31 13935975 bus:PrivateLimitedCompanyLtd 2022-02-23 2023-03-31 13935975 core:Goodwill 2022-02-23 2023-03-31 13935975 core:FurnitureFittingsToolsEquipment 2022-02-23 2023-03-31 13935975 core:MotorVehicles 2022-02-23 2023-03-31 13935975 core:OfficeEquipment 2022-02-23 2023-03-31 13935975 countries:EnglandWales 2022-02-23 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13935975

T.O Roofing Limited

Annual Report and Unaudited Financial Statements

for the Period from 23 February 2022 to 31 March 2023

 

T.O Roofing Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

T.O Roofing Limited

(Registration number: 13935975)
Balance Sheet as at 31 March 2023

Note

2023
£

Fixed assets

 

Intangible assets

4

8,000

Tangible assets

5

18,697

 

26,697

Current assets

 

Debtors

6

9,281

Cash at bank and in hand

 

14,637

 

23,918

Creditors: Amounts falling due within one year

7

(48,414)

Net current liabilities

 

(24,496)

Total assets less current liabilities

 

2,201

Creditors: Amounts falling due after more than one year

7

(9,610)

Net liabilities

 

(7,409)

Capital and reserves

 

Called up share capital

101

Retained earnings

(7,510)

Shareholders' deficit

 

(7,409)

For the financial period ending 31 March 2023 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 period 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.

Approved and authorised by the Board on 7 November 2023 and signed on its behalf by:
 

 

T.O Roofing Limited

(Registration number: 13935975)
Balance Sheet as at 31 March 2023

.........................................
T M Osmond
Director

 

T.O Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 31 March 2023

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:
7a King Street
Frome
Somerset
BA11 1BH

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.

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.

 

T.O Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 31 March 2023

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

Motor vehicles

25% reducing balance

Office equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

T.O Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 31 March 2023

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.

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 period, was 2.

 

T.O Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

10,000

10,000

At 31 March 2023

10,000

10,000

Amortisation

Amortisation charge

2,000

2,000

At 31 March 2023

2,000

2,000

Net book value

At 31 March 2023

8,000

8,000

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

510

24,420

24,930

At 31 March 2023

510

24,420

24,930

Depreciation

Charge for the period

128

6,105

6,233

At 31 March 2023

128

6,105

6,233

Net book value

At 31 March 2023

382

18,315

18,697

6

Debtors

2023
£

Trade debtors

7,200

Other debtors

2,081

9,281

 

T.O Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 23 February 2022 to 31 March 2023

7

Creditors

Amounts falling due within one year

Note

2023
£

Due within one year

 

Bank loans and overdrafts

8

3,814

Trade creditors

 

4,413

Taxation and social security

 

3,335

Accruals and deferred income

 

2,170

Other creditors

 

34,682

 

48,414

Amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

9,610

8

Loans and borrowings

2023
£

Non-current loans and borrowings

Other borrowings

9,610

2023
£

Current loans and borrowings

Other borrowings

3,814