Registered number
05835534
MAB Roofing Ltd
Filleted Accounts
30 June 2023
MAB Roofing Ltd
Registered number: 05835534
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 63,682 83,921
Current assets
Stocks 500 500
Debtors 5 818,604 869,489
Investments held as current assets 6 3,374 -
Cash at bank and in hand 209,140 172,455
1,031,618 1,042,444
Creditors: amounts falling due within one year 7 (569,249) (597,874)
Net current assets 462,369 444,570
Total assets less current liabilities 526,051 528,491
Creditors: amounts falling due after more than one year 8 (48,982) (52,493)
Provisions for liabilities (12,099) (15,945)
Net assets 464,970 460,053
Capital and reserves
Called up share capital 100 100
Profit and loss account 464,870 459,953
Shareholders' funds 464,970 460,053
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Blowers
Director
Approved by the board on 13 February 2024
MAB Roofing Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company, including directors. 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 25,000
At 30 June 2023 25,000
Amortisation
At 1 July 2022 25,000
At 30 June 2023 25,000
Net book value
At 30 June 2023 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 14,165 176,852 191,017
Additions - 39,901 39,901
Disposals - (122,424) (122,424)
At 30 June 2023 14,165 94,329 108,494
Depreciation
At 1 July 2022 9,189 97,907 107,096
Charge for the year 1,243 18,986 20,229
On disposals - (82,513) (82,513)
At 30 June 2023 10,432 34,380 44,812
Net book value
At 30 June 2023 3,733 59,949 63,682
At 30 June 2022 4,976 78,945 83,921
5 Debtors 2023 2022
£ £
Trade debtors 520,811 642,011
Other debtors 297,793 227,478
818,604 869,489
6 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 3,374 -
MAB Roofing Ltd has 3,334 x £1 ordinary shares in Surya Solar Ltd - Company no 07270865. MAB Roofing Ltd has 40 x £1 ordinary shares in Essex Renewable Solutions Ltd - Company no 14803987
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,548 11,200
Obligations under finance lease and hire purchase contracts 19,523 14,245
Trade creditors 393,473 482,455
Taxation and social security costs 44,732 50,882
Other creditors 99,973 39,092
569,249 597,874
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,922 29,693
Obligations under finance lease and hire purchase contracts 29,060 22,800
48,982 52,493
9 Other information
MAB Roofing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Blue Barns Business Park
Old Ipswich Road, Ardleigh
Colchester
Essex
CO7 7FX
MAB Roofing Ltd 05835534 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 Mr M Blowers No description of principal activity 05835534 2021-07-01 2022-06-30 05835534 core:WithinOneYear 2022-06-30 05835534 core:AfterOneYear 2022-06-30 05835534 core:ShareCapital 2022-06-30 05835534 core:RetainedEarningsAccumulatedLosses 2022-06-30 05835534 2022-07-01 2023-06-30 05835534 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05835534 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 05835534 bus:Director40 2022-07-01 2023-06-30 05835534 1 2022-07-01 2023-06-30 05835534 2 2022-07-01 2023-06-30 05835534 core:PlantMachinery 2022-07-01 2023-06-30 05835534 core:Vehicles 2022-07-01 2023-06-30 05835534 countries:England 2022-07-01 2023-06-30 05835534 bus:FRS102 2022-07-01 2023-06-30 05835534 bus:FullAccounts 2022-07-01 2023-06-30 05835534 2023-06-30 05835534 core:WithinOneYear 2023-06-30 05835534 core:AfterOneYear 2023-06-30 05835534 core:ShareCapital 2023-06-30 05835534 core:RetainedEarningsAccumulatedLosses 2023-06-30 05835534 core:Goodwill 2023-06-30 05835534 core:PlantMachinery 2023-06-30 05835534 core:Vehicles 2023-06-30 05835534 2022-06-30 05835534 core:Goodwill 2022-06-30 05835534 core:PlantMachinery 2022-06-30 05835534 core:Vehicles 2022-06-30 iso4217:GBP xbrli:pure