Company Registration No. 09971610 (England and Wales)
Watertight Roofing (SW) Limited
Unaudited accounts
for the year ended 31 March 2023
Watertight Roofing (SW) Limited
Unaudited accounts
Contents
Watertight Roofing (SW) Limited
Company Information
for the year ended 31 March 2023
Directors
Mr J Boroczky
Mr P L Minchella
Company Number
09971610 (England and Wales)
Registered Office
122 Fore Street
Saltash
Cornwall
PL12 6JW
Accountants
Blackwell Bate Ltd
Brunel Court
122 Fore Street
Saltash
Cornwall
PL12 6JW
Watertight Roofing (SW) Limited
Statement of financial position
as at 31 March 2023
Tangible assets
307,467
310,709
Cash at bank and in hand
72,467
26,888
Creditors: amounts falling due within one year
(165,170)
(162,761)
Net current assets/(liabilities)
44,634
(74,387)
Total assets less current liabilities
352,101
236,322
Creditors: amounts falling due after more than one year
(22,644)
(32,320)
Provisions for liabilities
Deferred tax
(29,657)
(23,155)
Net assets
299,800
180,847
Called up share capital
1,100
1,000
Profit and loss account
298,700
179,847
Shareholders' funds
299,800
180,847
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by
Mr J Boroczky
Director
Company Registration No. 09971610
Watertight Roofing (SW) Limited
Notes to the Accounts
for the year ended 31 March 2023
Watertight Roofing (SW) Limited is a private company, limited by shares, registered in England and Wales, registration number 09971610. The registered office is 122 Fore Street , Saltash , Cornwall , PL12 6JW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation
Plant & machinery
Reducing balance - 25%
Motor vehicles
Reducing balance - 25%
Computer equipment
Straight line - 3 years
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
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 accounts. 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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Watertight Roofing (SW) Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
188,840
83,878
103,394
376,112
Additions
6,955
10,771
12,126
29,852
At 31 March 2023
195,795
94,649
115,520
405,964
At 1 April 2022
-
18,405
46,998
65,403
Charge for the year
-
18,237
14,857
33,094
At 31 March 2023
-
36,642
61,855
98,497
At 31 March 2023
195,795
58,007
53,665
307,467
At 31 March 2022
188,840
65,473
56,396
310,709
Amounts falling due within one year
Trade debtors
69,565
16,710
Other debtors
7,013
15,392
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
9,702
9,727
Obligations under finance leases and hire purchase contracts
-
8,198
Taxes and social security
129,056
13,823
Other creditors
26,412
76,616
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 21 (2022: 16).