Company Registration No. 08330241 (England and Wales)
ROOFSTORE (P&P) LIMITED
Unaudited accounts
for the year ended 31 March 2023
ROOFSTORE (P&P) LIMITED
Unaudited accounts
Contents
ROOFSTORE (P&P) LIMITED
Company Information
for the year ended 31 March 2023
Directors
Mrs P Whale
Mr P Whale
Mr J Whale
Company Number
08330241 (England and Wales)
Registered Office
ROOFSTORE (P&P) LIMITED
RIVERWAY
NEWPORT
ISLE OF WIGHT
PO30 5UX
ENGLAND
Accountants
Isle of Wight Accountants Ltd
Suite 3, Cemoc House
Rectory Drive
Wootton Bridge
Isle of Wight
PO33 4QQ
ROOFSTORE (P&P) LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
217,259
182,967
Inventories
660,425
578,774
Cash at bank and in hand
635,292
296,436
Creditors: amounts falling due within one year
(686,170)
(757,061)
Net current assets
920,057
641,400
Total assets less current liabilities
1,137,316
824,367
Creditors: amounts falling due after more than one year
(38,727)
(58,384)
Provisions for liabilities
Deferred tax
(41,115)
(34,535)
Net assets
1,057,474
731,448
Called up share capital
180
180
Profit and loss account
1,057,294
731,268
Shareholders' funds
1,057,474
731,448
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 7 November 2023 and were signed on its behalf by
Mrs P Whale
Director
Company Registration No. 08330241
ROOFSTORE (P&P) LIMITED
Notes to the Accounts
for the year ended 31 March 2023
ROOFSTORE (P&P) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08330241. The registered office is ROOFSTORE (P&P) LIMITED, RIVERWAY, NEWPORT, ISLE OF WIGHT, PO30 5UX, ENGLAND.
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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
10%, 20%, 25% and 33% - reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Basic financial instruments are recognised at amortised cost.
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.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
ROOFSTORE (P&P) LIMITED
Notes to the Accounts
for the year ended 31 March 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Tangible fixed assets
Plant & machinery
Charge for the year
30,420
Amounts falling due within one year
Trade debtors
289,196
400,421
Other debtors
21,314
122,830
ROOFSTORE (P&P) LIMITED
Notes to the Accounts
for the year ended 31 March 2023
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
329,069
404,833
Taxes and social security
137,015
139,331
Other creditors
210,086
202,897
A fixed and floating charge over the company's assets exists in respect of an overdraft facility. Other creditors includes amounts owed in relation to asset secured financing.
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Creditors: amounts falling due after more than one year
2023
2022
Other creditors
17,061
26,717
Other creditors includes amounts owed in relation to asset secured financing.
8
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
82,380
82,380
Later than one year and not later than five years
61,785
144,165
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Average number of employees
During the year the average number of employees was 14 (2022: 13).