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REGISTERED NUMBER: 05091693 (England and Wales)















CENTRAL ROOFING (SOUTH WALES) LIMITED

Financial Statements for the Year Ended 30 April 2023






CENTRAL ROOFING (SOUTH WALES) LIMITED (REGISTERED NUMBER: 05091693)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 8


CENTRAL ROOFING (SOUTH WALES) LIMITED

Company Information
for the year ended 30 April 2023







Directors: D J Alden
S Ashcroft
J Broady
Mrs A S Lewis
R Rigby
J Williams



Registered office: Central Park
Holmer Road
Hereford
HR4 9BP



Registered number: 05091693 (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 (SOUTH WALES) LIMITED (REGISTERED NUMBER: 05091693)

Balance Sheet
30 April 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 274,697 288,341

Current assets
Debtors 5 2,716,830 1,697,078
Cash at bank and in hand 570,641 1,309,143
3,287,471 3,006,221
Creditors
Amounts falling due within one year 6 513,225 879,592
Net current assets 2,774,246 2,126,629
Total assets less current liabilities 3,048,943 2,414,970

Provisions for liabilities 16,925 14,575
Net assets 3,032,018 2,400,395

Capital and reserves
Called up share capital 9 1 1
Retained earnings 3,032,017 2,400,394
Shareholders' funds 3,032,018 2,400,395

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 Statement of Comprehensive Income has not been delivered.

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 (SOUTH WALES) LIMITED (REGISTERED NUMBER: 05091693)

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

1. Statutory information

Central Roofing (South Wales) 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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, they 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.

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.

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.

CENTRAL ROOFING (SOUTH WALES) LIMITED (REGISTERED NUMBER: 05091693)

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

2. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - in accordance with the property
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 33% on cost

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

Leasehold Property is depreciated over the remaining term of the lease this was 106 years from the leasehold property build date of 2008.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributes to the employee's personal pension schemes. The annual contributions payable are charged to the profit and loss account.

CENTRAL ROOFING (SOUTH WALES) LIMITED (REGISTERED NUMBER: 05091693)

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

2. Accounting policies - continued

Financial instruments
The company deals only in basic financial instruments, which are accounted for in accordance with section 1a 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.

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. Employees and directors

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

4. Tangible fixed assets
Fixtures
Long Plant and and
leasehold machinery fittings
£ £ £
Cost
At 1 May 2022 227,250 429 164,964
Additions - - 3,368
At 30 April 2023 227,250 429 168,332
Depreciation
At 1 May 2022 31,830 429 146,156
Charge for year 2,123 - 15,237
At 30 April 2023 33,953 429 161,393
Net book value
At 30 April 2023 193,297 - 6,939
At 30 April 2022 195,420 - 18,808

CENTRAL ROOFING (SOUTH WALES) LIMITED (REGISTERED NUMBER: 05091693)

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

4. Tangible fixed assets - continued

Motor Office
vehicles equipment Totals
£ £ £
Cost
At 1 May 2022 293,218 96,930 782,791
Additions 36,691 2,067 42,126
At 30 April 2023 329,909 98,997 824,917
Depreciation
At 1 May 2022 235,001 81,034 494,450
Charge for year 30,037 8,373 55,770
At 30 April 2023 265,038 89,407 550,220
Net book value
At 30 April 2023 64,871 9,590 274,697
At 30 April 2022 58,217 15,896 288,341

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
Cost
At 1 May 2022
and 30 April 2023 21,467
Depreciation
At 1 May 2022
and 30 April 2023 21,467
Net book value
At 30 April 2023 -
At 30 April 2022 -

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 495,827 594,017
Amounts owed by group undertakings 2,012,854 840,000
Amounts recoverable on
contracts 143,566 90,433
Other debtors 64,583 172,628
2,716,830 1,697,078

CENTRAL ROOFING (SOUTH WALES) LIMITED (REGISTERED NUMBER: 05091693)

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

6. Creditors: amounts falling due within one year
2023 2022
£ £
Hire purchase contracts (see note 7) - 2,472
Payments on account 242,282 162,612
Trade creditors 192,905 635,576
Amounts owed to group undertakings - 8,589
Taxation and social security 40,810 35,168
Other creditors 37,228 35,175
513,225 879,592

7. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year - 2,472

Non-cancellable
operating leases
2023 2022
£ £
Within one year 17,895 34,392
Between one and five years 4,368 21,926
22,263 56,318

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts - 2,472

9. Called up share capital

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

10. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Kevin Hodgetts FCA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

11. 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.

CENTRAL ROOFING (SOUTH WALES) LIMITED (REGISTERED NUMBER: 05091693)

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

11. Related party disclosures - continued

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 9 July 2004.

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.

12. Ultimate parent company

Central Roofing TopCo Limited is the ultimate parent company. It 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.