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REGISTERED NUMBER: 00854062 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 July 2023

for

Woodstock Felt Roofing Limited

Woodstock Felt Roofing Limited (Registered number: 00854062)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Woodstock Felt Roofing Limited

Company Information
For The Year Ended 31 July 2023







DIRECTORS: J M Snell
K Snell



SECRETARY: Mrs K Snell



REGISTERED OFFICE: Units 1, Elmsfield Industrial Estate
Worcester Road
Chipping Norton
Oxfordshire
OX7 5XS



REGISTERED NUMBER: 00854062 (England and Wales)



ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



BANKERS: Barclays Bank PLC
14 Park Street
Woodstock
Oxfordshire
OX20 1SW

Woodstock Felt Roofing Limited (Registered number: 00854062)

Abridged Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,064 28,662

CURRENT ASSETS
Stocks 38,474 103,360
Debtors 257,701 154,654
Cash at bank 225,800 107,692
521,975 365,706
CREDITORS
Amounts falling due within one year 375,766 183,516
NET CURRENT ASSETS 146,209 182,190
TOTAL ASSETS LESS CURRENT
LIABILITIES

161,273

210,852

CREDITORS
Amounts falling due after more than one
year

(22,500

)

(34,932

)

PROVISIONS FOR LIABILITIES (2,862 ) (5,446 )
NET ASSETS 135,911 170,474

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 134,911 169,474
SHAREHOLDERS' FUNDS 135,911 170,474

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Woodstock Felt Roofing Limited (Registered number: 00854062)

Abridged Balance Sheet - continued
31 July 2023


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 Income Statement and an abridged Balance Sheet for the year ended 31 July 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 8 April 2024 and were signed on its behalf by:





J M Snell - Director


Woodstock Felt Roofing Limited (Registered number: 00854062)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Woodstock Felt 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, net of value added tax. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Turnover from sales 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold improvements - 20% on cost
Plant and machinery - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Woodstock Felt Roofing Limited (Registered number: 00854062)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.


Woodstock Felt Roofing Limited (Registered number: 00854062)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022
and 31 July 2023 211,766
DEPRECIATION
At 1 August 2022 183,104
Charge for year 13,598
At 31 July 2023 196,702
NET BOOK VALUE
At 31 July 2023 15,064
At 31 July 2022 28,662

5. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase contracts 2,439 16,204