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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
Page
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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
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Watertight Roofing (SW) Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
307,467 
310,709 
Current assets
Inventories
60,759 
29,384 
Debtors
76,578 
32,102 
Cash at bank and in hand
72,467 
26,888 
209,804 
88,374 
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 
Capital and reserves
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
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Watertight Roofing (SW) Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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. 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
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 taxation
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.
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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 
Depreciation
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 
Net book value
At 31 March 2023
195,795 
58,007 
53,665 
307,467 
At 31 March 2022
188,840 
65,473 
56,396 
310,709 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
69,565 
16,710 
Other debtors
7,013 
15,392 
76,578 
32,102 
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 
Trade creditors
- 
54,397 
Taxes and social security
129,056 
13,823 
Other creditors
26,412 
76,616 
165,170 
162,761 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,644 
32,320 
8
Average number of employees
During the year the average number of employees was 21 (2022: 16).
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