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REGISTERED NUMBER: 07261042 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

KEEN ROOFING LIMITED

KEEN ROOFING LIMITED (REGISTERED NUMBER: 07261042)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


KEEN ROOFING LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: Mr J V Ash
Mr R C Keen
Mr W Cadman





SECRETARY: Mr J V Ash





REGISTERED OFFICE: Unit 13 Navigation Point
Golds Hill Way
Tipton
West Midlands
DY4 0PU





REGISTERED NUMBER: 07261042 (England and Wales)





ACCOUNTANTS: Wright & Co Partnership Limited
Chartered Accountants
5 Walsall Street
Wednesbury
West Midlands
WS10 9BZ

KEEN ROOFING LIMITED (REGISTERED NUMBER: 07261042)

ABRIDGED BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,960 9,237

CURRENT ASSETS
Stocks 79,216 73,180
Debtors 1,587,947 1,936,661
Cash at bank 251,553 117,705
1,918,716 2,127,546
CREDITORS
Amounts falling due within one year 400,268 596,550
NET CURRENT ASSETS 1,518,448 1,530,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,574,408

1,540,233

PROVISIONS FOR LIABILITIES 13,990 1,755
NET ASSETS 1,560,418 1,538,478

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,560,318 1,538,378
SHAREHOLDERS' FUNDS 1,560,418 1,538,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 December 2023 and were signed on its behalf by:





Mr J V Ash - Director


KEEN ROOFING LIMITED (REGISTERED NUMBER: 07261042)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Keen Roofing 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied or services rendered, net of discounts and value added tax.
Revenue from the sale of goods is recognized when significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred in respect of the transactions can be measured reliably.
Turnover from a contract to provide services is recognized in the period in which the services are provided in accordance with the stage of completion of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

KEEN ROOFING LIMITED (REGISTERED NUMBER: 07261042)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 35,127
Additions 63,760
Disposals (30,127 )
At 31 May 2023 68,760
DEPRECIATION
At 1 June 2022 25,890
Charge for year 11,444
Eliminated on disposal (24,534 )
At 31 May 2023 12,800
NET BOOK VALUE
At 31 May 2023 55,960
At 31 May 2022 9,237

5. CONTINGENT LIABILITIES

There is a fixed and floating charge on the assets of the company in respect of any indebtedness to J.V Ash, S. J. Green and R. S. Miller.

6. RELATED PARTY DISCLOSURES

During the year the company paid dividends of £300,000 (2022 - £120,000) to its parent company.

At 31st May 2023 the company was owed £915,751 (2022 - £897,890 by its parent company.

Keen Roofing Limited is a subsidiary of Keecad Holdings Limited.

The company purchased goods and services, in the normal course of business, amounting to £1,319,750 (2022 - £1,553,166) from a company with a director in common.

The company sold goods and services, in the normal course of business, amounting to £3,110 (2022 - £210) to a company with a director in common.

At 31st May 2022 the company owed £153,704 (2022 - £335,094) to a company with a director in common.

7. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr R Keen as a result of his ownership of the majority of the parent company's issued share capital.