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REGISTERED NUMBER: 02303728 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Wessex Slate and Tile Roofing Services
Ltd

Wessex Slate and Tile Roofing Services
Ltd (Registered number: 02303728)






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


Wessex Slate and Tile Roofing Services
Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R N Lewis
P A Lewis





SECRETARY: Miss N Lewis





REGISTERED OFFICE: Moorland Business Park
Moorland Road
Indian Queens
Cornwall
TR9 6HJ





REGISTERED NUMBER: 02303728 (England and Wales)





ACCOUNTANTS: Wills Bingley Limited
Chartered Accountants
St Denys House
22 East Hill
St. Austell
Cornwall
PL25 4TR

Wessex Slate and Tile Roofing Services
Ltd (Registered number: 02303728)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 234,043 238,372

CURRENT ASSETS
Stocks 5 103,023 100,329
Debtors 6 1,218,297 1,146,623
Cash at bank and in hand 92,314 87,309
1,413,634 1,334,261
CREDITORS
Amounts falling due within one year 7 483,590 450,122
NET CURRENT ASSETS 930,044 884,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,164,087

1,122,511

CREDITORS
Amounts falling due after more than one
year

8

(241,905

)

(299,771

)

PROVISIONS FOR LIABILITIES 11 (44,468 ) (45,291 )
NET ASSETS 877,714 777,449

CAPITAL AND RESERVES
Called up share capital 12 5,003 5,003
Retained earnings 872,711 772,446
SHAREHOLDERS' FUNDS 877,714 777,449

Wessex Slate and Tile Roofing Services
Ltd (Registered number: 02303728)

Balance Sheet - continued
31 March 2023


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 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.

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 20 November 2023 and were signed on its behalf by:





R N Lewis - Director


Wessex Slate and Tile Roofing Services
Ltd (Registered number: 02303728)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Wessex Slate and Tile Roofing Services Ltd 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" and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company have taken advantage of the exemption, under the terms of Financial Reporting Standard 102
Section 1A 'The Financial Reporting Standard applicable in the UK an Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The financial statements are prepared in sterling, which is the fundamental currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
The financial statements have been prepared on the going concern basis. The directors have considered a period of twelve months from the date of approval of the financial statements and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Turnover is recognised on delivery of goods or on the provision of services.

In respect of long-term contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measures at cost net of depreciation and impairment losses.

Depreciation is recognised so as to write off the cost of the asset less their residential values over their useful lives on the following basis:

Plant and equipment - 15% straight line
Fixtures & Fittings - 15% straight line
Motor vehicles - 25% straight line

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 the profit and loss.

Wessex Slate and Tile Roofing Services
Ltd (Registered number: 02303728)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax.

Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's lability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 25 ) .

Wessex Slate and Tile Roofing Services
Ltd (Registered number: 02303728)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 601,975
Additions 121,542
Disposals (10,300 )
At 31 March 2023 713,217
DEPRECIATION
At 1 April 2022 363,603
Charge for year 125,871
Eliminated on disposal (10,300 )
At 31 March 2023 479,174
NET BOOK VALUE
At 31 March 2023 234,043
At 31 March 2022 238,372

5. STOCKS
31/3/23 31/3/22
£    £   
Stocks 103,023 100,329

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 541,963 518,157
Amounts owed by group undertakings 502,639 422,610
Other debtors 173,695 205,856
1,218,297 1,146,623

Included within Other Debtors are amounts owed by directors totalling £75,435 (£2022: £96,557) as detailed in note 16.

Wessex Slate and Tile Roofing Services
Ltd (Registered number: 02303728)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts (see note 9) 40,000 40,000
Hire purchase contracts (see note 10) 36,917 59,283
Trade creditors 319,942 310,593
Taxation and social security 72,547 27,122
Other creditors 14,184 13,124
483,590 450,122

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans (see note 9) 53,333 143,333
Hire purchase contracts (see note 10) 188,572 156,438
241,905 299,771

9. LOANS AND OVERDRAFTS

The bank holds a fixed and floating charge over the assets of the company.

The bank also holds a cross guarantee between the company and its parent company, Westlands Holdings Limited.

10. LEASE OBLIGATIONS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/3/23 31/3/22
£    £   
Net obligations repayable:
Within one year 36,917 59,283
Between one and five years 188,572 156,438
225,489 215,721

Non-cancellable operating leases
31/3/23 31/3/22
£    £   
Within one year - 5,006
Between one and five years - 5,423
- 10,429

Wessex Slate and Tile Roofing Services
Ltd (Registered number: 02303728)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. PROVISIONS FOR LIABILITIES
31/3/23 31/3/22
£    £   
Deferred tax 44,468 45,291

Deferred
tax
£   
Balance at 1 April 2022 45,291
Credit to Income Statement during year (823 )
Balance at 31 March 2023 44,468

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
5,000 Ordinary 1 5,000 5,000
1 Redeemable 'A' 1 1 1
1 Redeemable 'B' 1 1 1
1 Redeemable 'C' 1 1 1
5,003 5,003

The Redeemable A, B and C shares provide a right to priority of any dividend or return of capital over the Ordinary shares.

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31/3/23 31/3/22
£    £   
R N Lewis
Balance outstanding at start of year 96,557 99,907
Amounts advanced 78,878 102,492
Amounts repaid (100,000 ) (105,842 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 75,435 96,557

14. PARENT COMPANY

The company is a 100% subsidiary of Westlands Holdings Limited, a company incorporated in England and Wales.

The ultimate controlling party is P Lewis by virtue of his controlling interest in the parent company, Westlands Holdings Limited.