Silverfin false false 31/08/2023 01/09/2022 31/08/2023 M Jenkins M A Keenan 14 November 2023 The principal activity of the company during the financial year was roofing activities. 10939087 2023-08-31 10939087 2022-08-31 10939087 core:CurrentFinancialInstruments 2023-08-31 10939087 core:CurrentFinancialInstruments 2022-08-31 10939087 core:Non-currentFinancialInstruments 2023-08-31 10939087 core:Non-currentFinancialInstruments 2022-08-31 10939087 core:ShareCapital 2023-08-31 10939087 core:ShareCapital 2022-08-31 10939087 core:RetainedEarningsAccumulatedLosses 2023-08-31 10939087 core:RetainedEarningsAccumulatedLosses 2022-08-31 10939087 core:Vehicles 2022-08-31 10939087 core:ComputerEquipment 2022-08-31 10939087 core:Vehicles 2023-08-31 10939087 core:ComputerEquipment 2023-08-31 10939087 2022-09-01 2023-08-31 10939087 bus:FilletedAccounts 2022-09-01 2023-08-31 10939087 bus:SmallEntities 2022-09-01 2023-08-31 10939087 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 10939087 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10939087 bus:Director1 2022-09-01 2023-08-31 10939087 bus:Director2 2022-09-01 2023-08-31 10939087 core:Vehicles 2022-09-01 2023-08-31 10939087 core:ComputerEquipment core:TopRangeValue 2022-09-01 2023-08-31 10939087 2021-09-01 2022-08-31 10939087 core:ComputerEquipment 2022-09-01 2023-08-31 10939087 core:CurrentFinancialInstruments 2022-09-01 2023-08-31 10939087 core:Non-currentFinancialInstruments 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Company No: 10939087 (England and Wales)

DEELIS ROOFING LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

DEELIS ROOFING LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

DEELIS ROOFING LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2023
DEELIS ROOFING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2023
DIRECTORS M Jenkins
M A Keenan
REGISTERED OFFICE Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
United Kingdom
COMPANY NUMBER 10939087 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
DEELIS ROOFING LIMITED

BALANCE SHEET

As at 31 August 2023
DEELIS ROOFING LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 95,691 90,082
95,691 90,082
Current assets
Stocks 25,000 30,000
Debtors 4 157,383 301,402
Cash at bank and in hand 267,135 66,170
449,518 397,572
Creditors: amounts falling due within one year 5 ( 379,498) ( 146,199)
Net current assets 70,020 251,373
Total assets less current liabilities 165,711 341,455
Creditors: amounts falling due after more than one year 6 ( 72,925) ( 94,429)
Provision for liabilities ( 19,942) ( 16,521)
Net assets 72,844 230,505
Capital and reserves
Called-up share capital 100 100
Profit and loss account 72,744 230,405
Total shareholders' funds 72,844 230,505

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Deelis Roofing Limited (registered number: 10939087) were approved and authorised for issue by the Board of Directors on 14 November 2023. They were signed on its behalf by:

M Jenkins
Director
DEELIS ROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
DEELIS ROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Deelis Roofing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 September 2022 125,353 1,027 126,380
Additions 40,492 874 41,366
Disposals ( 12,992) 0 ( 12,992)
At 31 August 2023 152,853 1,901 154,754
Accumulated depreciation
At 01 September 2022 35,829 469 36,298
Charge for the financial year 22,381 384 22,765
At 31 August 2023 58,210 853 59,063
Net book value
At 31 August 2023 94,643 1,048 95,691
At 31 August 2022 89,524 558 90,082

4. Debtors

2023 2022
£ £
Trade debtors 66,226 263,757
Other debtors 91,157 37,645
157,383 301,402

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,056 0
Trade creditors 260,959 70,890
Corporation tax 25,103 45,648
Other taxation and social security 3,245 1,866
Obligations under finance leases and hire purchase contracts 23,873 21,204
Other creditors 56,262 6,591
379,498 146,199

The hire purchase contracts have been secured against the assets to which they relate.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 18,214 38,079
Obligations under finance leases and hire purchase contracts 54,711 56,350
72,925 94,429

The hire purchase contracts have been secured against the assets to which they relate.

7. Related party transactions

Transactions with the entity's directors

Advances

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 September 2022, the balance owed by M Jenkins was £3,784. During the year, £89,151 was advanced to the director, and £92,935 was repaid by the director. At 31 August 2023, the balance owed by the director was £Nil.

At 1 September 2021, the balance owed to M Jenkins was £1,399. During the year, £69,075 was advanced to the director, and £63,892 was repaid by the director. At 31 August 2022, the balance owed to the director was £3,784.

At 1 September 2022, the balance owed to M Keenan was £1,312. During the year, £110,377 was advanced to the director, and £111,689 was repaid by the director. At 31 August 2023, the balance owed to the director was £Nil.

At 1 September 2021, the balance owed to M Keenan was £630.57. During the year, £80,381.03 was advanced to the director, and £81,062 was repaid by the director. At 31 August 2022, the balance owed to the director was £1,312.