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Company No: 08201662 (England and Wales)

WHEELER ROOFING SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

WHEELER ROOFING SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

WHEELER ROOFING SERVICES LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
WHEELER ROOFING SERVICES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTORS Mrs H A Wheeler
Mr N J Wheeler
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA
United Kingdom
COMPANY NUMBER 08201662 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
WHEELER ROOFING SERVICES LIMITED

BALANCE SHEET

As at 31 October 2023
WHEELER ROOFING SERVICES LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 25,982 24,809
25,982 24,809
Current assets
Stocks 275,000 25,000
Debtors 4 292,798 403,717
Cash at bank and in hand 199,695 189,577
767,493 618,294
Creditors: amounts falling due within one year 5 ( 480,227) ( 537,264)
Net current assets 287,266 81,030
Total assets less current liabilities 313,248 105,839
Creditors: amounts falling due after more than one year 6 ( 15,833) ( 25,833)
Provision for liabilities ( 6,496) ( 6,203)
Net assets 290,919 73,803
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account 289,919 72,803
Total shareholder's funds 290,919 73,803

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Wheeler Roofing Services limited (registered number: 08201662) were approved and authorised for issue by the Board of Directors on 16 April 2024. They were signed on its behalf by:

Mr N J Wheeler
Director
Mrs H A Wheeler
Director
WHEELER ROOFING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
WHEELER ROOFING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wheeler Roofing Services limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro , Cornwall, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance
5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 28 27

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2022 77,941 77,941
Additions 5,929 5,929
Disposals ( 554) ( 554)
At 31 October 2023 83,316 83,316
Accumulated depreciation
At 01 November 2022 53,132 53,132
Charge for the financial year 4,415 4,415
Disposals ( 213) ( 213)
At 31 October 2023 57,334 57,334
Net book value
At 31 October 2023 25,982 25,982
At 31 October 2022 24,809 24,809

4. Debtors

2023 2022
£ £
Trade debtors 222,837 354,199
Other debtors 69,961 49,518
292,798 403,717

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,000 10,000
Trade creditors 274,544 250,523
Amounts owed to Group undertakings 46,021 144,586
Taxation and social security 82,368 79,417
Other creditors 67,294 52,738
480,227 537,264

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 15,833 25,833

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Ultimate controlling party

Parent Company:

Wheeler Holdings Limited