Registered number
09351224
Steven Morton Felt Roofing Limited
Filleted Accounts
31 December 2023
Steven Morton Felt Roofing Limited
Registered number: 09351224
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 47,180 43,572
Current assets
Stocks 28,000 25,000
Debtors 4 132,210 263,145
Cash at bank and in hand 254,541 167,461
414,751 455,606
Creditors: amounts falling due within one year 5 (90,556) (106,013)
Net current assets 324,195 349,593
Total assets less current liabilities 371,375 393,165
Provisions for liabilities (1,968) (5,998)
Net assets 369,407 387,167
Capital and reserves
Called up share capital 5,002 2
Profit and loss account 364,405 387,165
Shareholders' funds 369,407 387,167
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.
SJ Morton
Director
Approved by the board on 1 March 2024
Steven Morton Felt Roofing Limited
Notes to the Accounts
for the year ended 31 December 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.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
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).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. Current and deferred tax 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.
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 10 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 12,247 21,238 102,513 135,998
Additions - 786 33,499 34,285
Disposals - - (33,500) (33,500)
At 31 December 2023 12,247 22,024 102,512 136,783
Depreciation
At 1 January 2023 245 14,728 77,453 92,426
Charge for the year 490 2,596 14,191 17,277
On disposals - - (20,100) (20,100)
At 31 December 2023 735 17,324 71,544 89,603
Net book value
At 31 December 2023 11,512 4,700 30,968 47,180
At 31 December 2022 12,002 6,510 25,060 43,572
4 Debtors 2023 2022
£ £
Trade debtors 30,022 78,554
Other debtors 102,188 184,591
132,210 263,145
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 29,927 57,150
Taxation and social security costs 60,628 48,862
Other creditors 1 1
90,556 106,013
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
SJ Morton
Loan 52,342 288 (25,000) 27,630
SM Morton
Loan 52,343 288 (25,000) 27,631
104,685 576 (50,000) 55,261
7 Related party transactions 2023 2022
£ £
Loan to Associated Company
Sealed Limited - 50,000
8 Controlling party
The company is controlled by SJ and SM Morton.
9 Other information
Steven Morton Felt Roofing Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Philip Bowdidge Accountancy
34 Ringwood Road
Walkford
Christchurch
BH23 5RD
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