Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity1411truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03884264 2022-03-01 2023-02-28 03884264 2021-03-01 2022-02-28 03884264 2023-02-28 03884264 2022-02-28 03884264 c:Director1 2022-03-01 2023-02-28 03884264 c:Director2 2022-03-01 2023-02-28 03884264 d:PlantMachinery 2022-03-01 2023-02-28 03884264 d:PlantMachinery 2023-02-28 03884264 d:PlantMachinery 2022-02-28 03884264 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03884264 d:MotorVehicles 2022-03-01 2023-02-28 03884264 d:MotorVehicles 2023-02-28 03884264 d:MotorVehicles 2022-02-28 03884264 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03884264 d:FurnitureFittings 2022-03-01 2023-02-28 03884264 d:FurnitureFittings 2023-02-28 03884264 d:FurnitureFittings 2022-02-28 03884264 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03884264 d:OfficeEquipment 2022-03-01 2023-02-28 03884264 d:OfficeEquipment 2023-02-28 03884264 d:OfficeEquipment 2022-02-28 03884264 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03884264 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03884264 d:CurrentFinancialInstruments 2023-02-28 03884264 d:CurrentFinancialInstruments 2022-02-28 03884264 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03884264 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 03884264 d:ShareCapital 2023-02-28 03884264 d:ShareCapital 2022-02-28 03884264 d:RetainedEarningsAccumulatedLosses 2023-02-28 03884264 d:RetainedEarningsAccumulatedLosses 2022-02-28 03884264 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 03884264 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 03884264 c:FRS102 2022-03-01 2023-02-28 03884264 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 03884264 c:FullAccounts 2022-03-01 2023-02-28 03884264 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Registered number: 03884264









SURE ROOFS SYSTEMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
SURE ROOFS SYSTEMS LIMITED
REGISTERED NUMBER: 03884264

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
124,219
147,895

  
124,219
147,895

Current assets
  

Stocks
  
168,917
205,572

Debtors: amounts falling due within one year
 5 
1,791,706
1,399,727

Cash at bank and in hand
  
759,121
618,391

  
2,719,744
2,223,690

Creditors: amounts falling due within one year
 6 
(747,518)
(691,995)

Net current assets
  
 
 
1,972,226
 
 
1,531,695

Total assets less current liabilities
  
2,096,445
1,679,590

Provisions for liabilities
  

Deferred tax
 7 
(31,055)
(28,100)

  
 
 
(31,055)
 
 
(28,100)

Net assets
  
2,065,390
1,651,490


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
2,065,388
1,651,488

  
2,065,390
1,651,490


Page 1

 
SURE ROOFS SYSTEMS LIMITED
REGISTERED NUMBER: 03884264

BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 November 2023.




D J Collier
R Collier
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Sure Roofs Systems Limited is a private company, limited by shares, incorporated in England and Wales. The company registration number is 03884264 and the registerd office is 30 Whiffler Road, Norwich, England, NR3 2AZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors consider that the resources available to the company will be sufficient for it to be able to continue as a going concern for the medium term especially with a reduction in overheads and
administrative costs and this is their intention.  The financial statements do not contain any
adjustments that would be required if the company were not able to continue as a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
15%
Reducing balance
Office equipment
-
15%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 11).

Page 5

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 March 2022
120,383
204,352
26,229
29,875
380,839


Additions
517
-
2,931
324
3,772



At 28 February 2023

120,900
204,352
29,160
30,199
384,611



Depreciation


At 1 March 2022
41,776
153,284
15,387
22,497
232,944


Charge for the year on owned assets
11,799
12,770
1,770
1,109
27,448



At 28 February 2023

53,575
166,054
17,157
23,606
260,392



Net book value



At 28 February 2023
67,325
38,298
12,003
6,593
124,219



At 28 February 2022
78,607
51,068
10,842
7,378
147,895


5.


Debtors

2023
2022
£
£


Trade debtors
1,205,481
1,011,249

Other debtors
486,898
385,937

Prepayments and accrued income
99,327
2,541

1,791,706
1,399,727


Included within other debtors is an amount of £194,693 (2022: £215,774) which is available to draw from HSBC Invoice Finance (UK) Limited against the factored debts collected.

Page 6

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
544,643
549,382

Corporation tax
129,676
91,770

Other taxation and social security
41,543
36,870

Other creditors
14,303
6,791

Accruals and deferred income
17,353
7,182

747,518
691,995



7.


Deferred taxation




2023


£






At beginning of year
(28,100)


Charged to profit or loss
(2,955)



At end of year
(31,055)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(31,055)
(28,100)

(31,055)
(28,100)


8.


Pension commitments

The Company operates a definted contributions pension scheme. The assets of the scheme are held separately from those of the Company in an indepdently administered fund. The pension cost charge represens contributions payable by the Company to the fund amounted to £13,271 (2022 - £10,036). Contributions totalling £706 (2022 - £NIL) were payable to the fund at the balance sheet date and are included in creditors.

Page 7

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Related party transactions

At 28 February 2023, a loan existed between the company and a related business under common control. The outstanding debtor is £154,159 (2022 - £71,270). The loan was interest free and payable on demand.
At 28 February 2023, a loan existed between the company and a related company under common control, Cirello Ltd. The amount owed by the related company was £95,543 (2022 - £95,543). The loan was interest free and payable on demand.


Page 8