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REGISTERED NUMBER: 03746288 (England and Wales)















CENTRAL ROOFING AND BUILDING SERVICES
LIMITED

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 April 2023






CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)






Contents of the Financial Statements
for the year ended 30 April 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3 to 4

Report of the Independent Auditors 5 to 7

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11 to 19


CENTRAL ROOFING AND BUILDING SERVICES
LIMITED

Company Information
for the year ended 30 April 2023







Directors: D J Alden
J Broady
Mrs A S Lewis
D J McCarthy
J Price
R Rigby
G J Withers
D Alden


Registered office: Central Park
Holmer Road
Hereford
HR4 9BP


Registered number: 03746288 (England and Wales)


Auditors: Cooper Parry Group Limited
Statutory Auditor
CUBO Birmingham
Office 401, 4th Floor
Birmingham
West Midlands
B3 3AX


Bankers: HSBC
35 High Town
Hereford
HR1 2AQ

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Strategic Report
for the year ended 30 April 2023

The directors present their strategic report for the year ended 30 April 2023.

This report aims to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties we face.

Review of business
The principal activity of the company during the year continued to be that of roofing and building services.

The key performance indicators are considered to be those that communicate the financial performance and strength of the company, being turnover, gross and operating profit margins and working capital ratios.

Turnover for the year decreased by 8% to £27.3m (2022: £29.6m) with a gross profit margin achieved of 31.3% (2022: 32.0%) and an operating profit margin of 14.0% (2022: 16.3%). Profit after tax for the year was £3.3m (2022: £4.1m). Dividends of £2.25m were paid to the parent company meaning profits of £0.85m were retained and added to brought forward reserves. Shareholders' funds therefore stood at £16.3m at the end of the year (2022: £15.2m). The current ratio fell from 6.82 at 30 April 2022, to 5.71 at 30 April 2023; excluding group debt, the ratio fell from 3.30 to 1.37. Debtor days remained steady at 52 days compared to 51 days in 2022.

The profit and loss, balance sheet and cash flow are all monitored monthly through the year by comparison to budget and prior year performance.

Despite challenging macro-economic conditions, as a board, we are satisfied with the performance of the company for the year.

Principal risks and uncertainties
The risks facing the company are assessed on an ongoing basis. The directors evaluate the likelihood and potential impact of each of the risks and ensure appropriate action is taken to mitigate it.

A number of key risks such as credit and cash flow management, liquidity, health and safety and regulatory compliance come under the direct control of the directors.

Future developments
There are a number of areas of opportunity that can help to increase the growth of the business including new branches, growth with existing client base, and working on maintenance agreements with clients close to the branches. Implementing growth plans will be a key duty for the Central Group sales team. We believe we are strongly positioned to proceed with our growth plan.

On behalf of the board:





J Broady - Director


31 October 2023

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Report of the Directors
for the year ended 30 April 2023

The directors present their report with the financial statements of the company for the year ended 30 April 2023.

Results
The profit for the year, after taxation, amounted to £3,349,062.

Dividends
The total distribution of dividends for the year was £2,250,000 (2022: £2,450,000).

Directors
The directors shown below have held office during the whole of the period from 1 May 2022 to the date of this report.

D J Alden
J Broady
D J McCarthy
J Price
R Rigby
G J Withers
D Alden

Other changes in directors holding office are as follows:

Mrs A S Lewis - appointed 10 February 2023

Financial risk management objectives and policies
The company aims to minimise financial risks by applying the following practices:

Price Risk - agreeing sales and (as far as possible) costs in advance of commencing work on contracts.

Credit Risk - employing sensible credit control procedures to ensure minimal bad debts.

Liquidity/Cashflow Risk - agreeing regular invoicing on work.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, we continue to adopt the going concern basis in preparing the financial statements.

Disclosure in the strategic report
Certain disclosures required by the Companies Act 2006 have been included in the Strategic Report on page 2.

Statement of directors' responsibilities
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Report of the Directors
for the year ended 30 April 2023


Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors
The auditors, Haines Watts Birmingham LLP, are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

On behalf of the board:





J Broady - Director


31 October 2023

Report of the Independent Auditors to the Members of
Central Roofing and Building Services
Limited

Opinion
We have audited the financial statements of Central Roofing and Building Services Limited (the 'company') for the year ended 30 April 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Central Roofing and Building Services
Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to both the company itself and the industry in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the directors and other management. The most significant were identified as the Companies Act 2006, UK GAAP (FRS102) and relevant tax legislation.

We considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statements. Our audit procedures included, but were not limited to:

- making enquires of directors and management as to where they consider there to be a susceptibility to fraud
and whether they have any knowledge or suspicion of fraud;
- obtaining an understanding of the internal controls established to mitigate risks related to fraud or
non-compliance with laws and regulations;
- assessing the design effectiveness of the controls in place to prevent and detect fraud;
- assessing the risk of management override including identifying and testing journal entries;
- challenging the assumptions and judgements made by management in its significant accounting estimates

Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud, and despite the audit being planned and conducted in accordance with ISAs (UK), there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity would likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Central Roofing and Building Services
Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kevin Hodgetts FCA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited
Statutory Auditor
CUBO Birmingham
Office 401, 4th Floor
Birmingham
West Midlands
B3 3AX

31 October 2023

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Statement of Comprehensive
Income
for the year ended 30 April 2023

2023 2022
Notes £ £

Turnover 3 27,326,654 29,635,659

Cost of sales (18,768,811 ) (20,157,734 )
Gross profit 8,557,843 9,477,925

Administrative expenses (4,741,286 ) (4,641,615 )
3,816,557 4,836,310

Other operating income 4 - 1,374
3,816,557 4,837,684

Income from fixed asset investments 7,508 4,276
3,824,065 4,841,960

Interest payable and similar expenses 6 16,176 (414 )
Profit before taxation 7 3,840,241 4,841,546

Tax on profit 8 (491,179 ) (699,511 )
Profit for the financial year 3,349,062 4,142,035

Other comprehensive income
Fixed asset investment valuation (32,184 ) (13,875 )
Income tax relating to other comprehensive
income

-

-
Other comprehensive income for the year,
net of income tax

(32,184

)

(13,875

)
Total comprehensive income for the year 3,316,878 4,128,160

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Balance Sheet
30 April 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 10 - -
Tangible assets 11 1,355,030 1,466,008
Investments 12 276,418 323,506
1,631,448 1,789,514

Current assets
Stocks 13 107,391 185,897
Debtors 14 17,752,795 13,594,215
Investments 15 2,250 2,250
Cash at bank and in hand 2,445,803 2,127,823
20,308,239 15,910,185
Creditors
Amounts falling due within one year 16 5,485,562 2,332,720
Net current assets 14,822,677 13,577,465
Total assets less current liabilities 16,454,125 15,366,979

Provisions for liabilities 18 151,430 131,162
Net assets 16,302,695 15,235,817

Capital and reserves
Called up share capital 19 88,757 88,757
Capital redemption reserve 7,831 7,831
Retained earnings 16,206,107 15,139,229
Shareholders' funds 16,302,695 15,235,817

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:





J Broady - Director


CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Statement of Changes in Equity
for the year ended 30 April 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£ £ £ £
Balance at 1 May 2021 88,757 13,461,069 7,831 13,557,657

Changes in equity
Dividends - (2,450,000 ) - (2,450,000 )
Total comprehensive income - 4,128,160 - 4,128,160
Balance at 30 April 2022 88,757 15,139,229 7,831 15,235,817

Changes in equity
Dividends - (2,250,000 ) - (2,250,000 )
Total comprehensive income - 3,316,878 - 3,316,878
Balance at 30 April 2023 88,757 16,206,107 7,831 16,302,695

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Notes to the Financial Statements
for the year ended 30 April 2023

1. Statutory information

Central Roofing and Building Services Limited 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The company has an extensive order book of long-term contracts with a number of customers and suppliers across different geographical areas. As a consequence, the directors believe the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements
The company is included by full consolidation in the consolidated financial statements of its ultimate parent company, Central Roofing TopCo Limited. The registered office of Central Roofing TopCo Limited is: Central Park, Holmer Road, Hereford, HR4 7QL.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates. It also requires the Directors to exercise judgement in applying the company's accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Long-term contract work in progress
In respect of long term contracts, profit is only recognised when the contracts outcome can be ascertained with reasonable certainty. Long term contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recording turnover and related costs as the contract progresses. The stage of completion of the contract is assessed by comparing the cost of the work completed at the financial year end to the total anticipated cost of the contract.

Depreciation of tangible fixed assets
Depreciation is calculated based on an estimate of the useful economic life of each category of fixed assets together with an estimate of the assets' residual values. The estimates of each asset category's useful economic life have been stated above.

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

2. Accounting policies - continued

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for sale of goods and services in the ordinary nature of the business, net of Value Added Tax. In the case of long term contracts, credit is taken appropriate to the stage of completion when the outcome of the contract can be ascertained with reasonable certainty.

Goodwill
Goodwill is calculated as the difference between the price paid for acquisitions of businesses and the fair values of the assets acquired from those assets.

Amortisation is calculated so as to write off the cost of an asset, less it's estimated residual value, over the economic life of that asset as follows:

Goodwill - 5% and 33% straight line

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost
Plant and machinery - 10% on reducing balance
Equipment - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Fixtures and fittings - 33% on cost and 10% on reducing balance

Tangible fixed assets are initially recognised at cost and subsequently measured at cost less accumulated depreciation and any accumulated impairment losses.

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. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial instruments
The company deals only in basic financial instruments, which are accounted for in accordance with section 11 of FRS102.

Financial liabilities and equity instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Current asset investments
Investments comprise of signed memorabilia at cost less permanent diminution in value.

Fixed asset investments
Listed investments held as fixed assets are shown at market value.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Turnover

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2023 2022
£ £
United Kingdom 27,326,654 29,635,659
27,326,654 29,635,659

4. Other operating income
2023 2022
£ £
Other operating income - 1,374

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

5. Employees and directors
2023 2022
£ £
Wages and salaries 5,212,795 5,173,816
Social security costs 564,667 551,121
Other pension costs 141,210 123,964
5,918,672 5,848,901

The average number of employees during the year was as follows:
2023 2022

Office 52 40
Operative 68 83
120 123

2023 2022
£ £
Directors' remuneration 683,499 976,519
Directors' pension contributions to money purchase schemes 31,281 30,250

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 7 8

Information regarding the highest paid director is as follows:
2023 2022
£ £
Emoluments etc 179,175 181,367
Pension contributions to money purchase schemes 18,531 3,250

6. Interest payable and similar expenses
2023 2022
£ £
HMRC interest (receivable)/
payable (16,176 ) 414
(16,176 ) 414

7. Profit before taxation

The profit is stated after charging/(crediting):

2023 2022
£ £
Other operating leases 89,366 74,069
Depreciation - owned assets 194,485 200,647
Profit on disposal of fixed assets (10,586 ) (25,906 )
Auditors' remuneration 12,500 9,600
Auditors' remuneration for non audit work 9,300 8,525
Vehicle leasing charges 47,677 48,339

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

8. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£ £
Current tax:
UK corporation tax 470,911 658,478

Deferred tax 20,268 41,033
Tax on profit 491,179 699,511

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£ £
Profit before tax 3,840,241 4,841,546
Profit multiplied by the standard rate of corporation tax in the UK of
19.493% (2022 - 19%)

748,578

919,894

Effects of:
Expenses not deductible for tax purposes 16,042 7,125
Income not taxable for tax purposes (1,464 ) (812 )
Capital allowances in excess of depreciation - (56,224 )
Depreciation in excess of capital allowances 14,064 -
Chargeable gains 3,802 3,148
Group relief (310,111 ) (214,653 )
Deferred taxation 20,268 41,033
Total tax charge 491,179 699,511

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£ £ £
Fixed asset investment valuation (32,184 ) - (32,184 )

2022
Gross Tax Net
£ £ £
Fixed asset investment valuation (13,875 ) - (13,875 )

9. Dividends
2023 2022
£ £
Ordinary shares of £1 each
Interim 2,250,000 2,450,000

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

10. Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022
and 30 April 2023 599,000
Amortisation
At 1 May 2022
and 30 April 2023 599,000
Net book value
At 30 April 2023 -
At 30 April 2022 -

11. Tangible fixed assets
Freehold Plant and
property machinery Equipment
£ £ £
Cost
At 1 May 2022 1,102,675 143,643 255,682
Additions - 905 11,411
Disposals - - -
At 30 April 2023 1,102,675 144,548 267,093
Depreciation
At 1 May 2022 337,840 105,965 183,151
Charge for year 19,295 3,788 7,600
Eliminated on disposal - - -
At 30 April 2023 357,135 109,753 190,751
Net book value
At 30 April 2023 745,540 34,795 76,342
At 30 April 2022 764,835 37,678 72,531

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

11. Tangible fixed assets - continued

Fixtures
Motor and
vehicles fittings Totals
£ £ £
Cost
At 1 May 2022 1,169,583 248,435 2,920,018
Additions 57,629 34,178 104,123
Disposals (113,411 ) - (113,411 )
At 30 April 2023 1,113,801 282,613 2,910,730
Depreciation
At 1 May 2022 615,109 211,945 1,454,010
Charge for year 138,921 24,881 194,485
Eliminated on disposal (92,795 ) - (92,795 )
At 30 April 2023 661,235 236,826 1,555,700
Net book value
At 30 April 2023 452,566 45,787 1,355,030
At 30 April 2022 554,474 36,490 1,466,008

12. Fixed asset investments
Listed
investments
£
Cost or valuation
At 1 May 2022 323,506
Additions 60,458
Disposals (75,362 )
Revaluations (32,184 )
At 30 April 2023 276,418
Net book value
At 30 April 2023 276,418
At 30 April 2022 323,506

Cost or valuation at 30 April 2023 is represented by:

Listed
investments
£
Valuation in 2023 276,418

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£ £
Cost 315,467 304,396

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

13. Stocks
2023 2022
£ £
Stocks 107,391 185,897

14. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 3,924,328 4,147,292
Amounts owed by group undertakings 12,908,266 8,200,992
Other debtors 3,076 248
Amounts recoverable on contracts 738,505 1,168,683
Harris Allday client account 28,177 515
S455 Debtor 3,091 3,091
Directors' current accounts 42 205
Prepayments 147,310 73,189
17,752,795 13,594,215

15. Current asset investments
2023 2022
£ £
Other 2,250 2,250

16. Creditors: amounts falling due within one year
2023 2022
£ £
Payments on account 1,215,999 444,903
Trade creditors 1,622,439 1,262,001
Amounts owed to group undertakings 2,300,797 -
Corporation tax (30,779 ) 144,310
Social security and other taxes 206,780 209,804
VAT 78,046 203,109
Other creditors 15,342 845
Pension fund 34,162 27,955
Accruals and deferred income 42,776 39,793
5,485,562 2,332,720

17. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 82,659 89,407
Between one and five years 144,138 144,413
226,797 233,820

18. Provisions for liabilities
2023 2022
£ £
Deferred tax
Accelerated capital allowances 151,430 131,162

CENTRAL ROOFING AND BUILDING SERVICES
LIMITED (REGISTERED NUMBER: 03746288)

Notes to the Financial Statements - continued
for the year ended 30 April 2023

18. Provisions for liabilities - continued

Deferred tax
£
Balance at 1 May 2022 131,162
Utilised during year 20,268
Balance at 30 April 2023 151,430

19. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
88,757 Ordinary £1 88,757 88,757

20. Ultimate parent company

Central Roofing TopCo Limited is regarded by the directors as being the company's ultimate parent company.

Central Roofing TopCo Limited is registered in England & Wales (company number 10439997) and the registered office address is Central Park, Holmer Road, Hereford, HR4 9BP.

The company is controlled by its directors. There is no single ultimate controlling party.

21. Related party disclosures

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

The company is party to a Multilateral Guarantee for Prefequity LLP, dated 29 December 2021. The guarantee was signed by all group companies and includes fixed and floating charges on all of the property or undertaking of the company.

The company is party to a Debenture for HSBC Bank Plc, including Fixed Charge over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future dated 10 March 2003.