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COMPANY REGISTRATION NUMBER: 5014100
Rooftop Rooms Limited
Filleted Unaudited Financial Statements
31 March 2023
Rooftop Rooms Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
51,200
62,392
Current assets
Stocks
40,000
40,000
Debtors
7
393,857
419,798
Cash at bank and in hand
254,824
298,363
---------
---------
688,681
758,161
Creditors: amounts falling due within one year
8
490,166
462,239
---------
---------
Net current assets
198,515
295,922
---------
---------
Total assets less current liabilities
249,715
358,314
Creditors: amounts falling due after more than one year
9
216,667
320,067
Provisions
10
12,800
11,854
---------
---------
Net assets
20,248
26,393
---------
---------
Capital and reserves
Called up share capital
11
100
100
Profit and loss account
12
20,148
26,293
--------
--------
Shareholders funds
20,248
26,393
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Rooftop Rooms Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
G K Smith
Director
Company registration number: 5014100
Rooftop Rooms Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 342 Baker Street, Enfield, Middlesex, EN1 3LH, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Accounting convention
The accounts have been prepared under the historical cost convention and in compliance with the provisions of the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008 (SI2008/409) and Financial Reporting Standard 102 Section 1A.
(b) Turnover
Turnover is stated net of Value Added Tax and represents the contractual value of work completed during the year.
(c) Tangible fixed assets and depreciation
Fixed assets are stated at cost less a provision for accumulated depreciation. Depreciation is provided at the following annual rates in order to write each asset down to its residual value over its estimated useful life: Plant and machinery - 20% on reducing balance Office furniture and equipment – 33.33% on reducing balance Motor vehicles – 20% on reducing balance
(d) Stock and work-in-progress
Stock and work-in-progress are stated at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
(e) Deferred taxation
Deferred tax is recognised by making provision, at current rates, for all timing differences that have originated but not reversed by the balance sheet date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 13 ).
5. Tax on profit
2023
2022
£
£
Corporation tax on the profit for the year @ 19.0% (2022 - 19.0%)
16,657
30,052
Deferred tax charge/(credit) for the year
946
(3,448)
--------
--------
17,603
26,604
--------
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022
10,657
46,982
129,416
187,055
Additions
3,674
3,430
7,104
Disposals
( 16,565)
( 16,565)
--------
--------
---------
---------
At 31 March 2023
14,331
50,412
112,851
177,594
--------
--------
---------
---------
Depreciation
At 1 April 2022
10,212
43,317
71,134
124,663
Charge for the year
824
2,341
11,512
14,677
Disposals
( 12,946)
( 12,946)
--------
--------
---------
---------
At 31 March 2023
11,036
45,658
69,700
126,394
--------
--------
---------
---------
Carrying amount
At 31 March 2023
3,295
4,754
43,151
51,200
--------
--------
---------
---------
At 31 March 2022
445
3,665
58,282
62,392
--------
--------
---------
---------
7. Debtors
2023
2022
£
£
Trade debtors
393,857
419,798
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
100,000
100,000
Trade creditors
222,660
136,488
Corporation tax
16,657
62,021
Social security and other taxes
134,190
143,410
Director’s current account ( G K Smith)
6
227
Director’s current account (C J Allison)
6
227
Other creditors
16,647
19,866
---------
---------
490,166
462,239
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Loan (long-term portion)
216,667
320,067
---------
---------
10. Provisions
2023
2022
£
£
Deferred tax provision brought forward
11,854
15,302
Deferred tax charge/(credit) for the year
946
(3,448)
--------
--------
Deferred tax provision carried forward
12,800
11,854
--------
--------
The above provision represents the charge to corporation tax at 19% (2021 - 19%) that would arise on the reversal of accelerated capital allowances.
11. Called up share capital
2023
2022
£
£
Authorised: 1,000 ordinary shares of £1 each
1,000
1,000
Allotted, called up and fully paid: 100 ordinary shares of £1 each
100
100
12. Reserves
2023 2022
£ £
Accumulated profits brought forward 26,293 6,652
Profit for the financial year 58,855 111,641
Dividends paid in the year (65,000) (92,000)
-------- ---------
Accumulated profits carried forward 20,148 26,293
-------- ---------
13. Transactions involving directors and related parties
(1) The two directors were each paid dividends of £46,000 (2021 - £60,000) during the year in their capacity as shareholders of the company.
(2) During the year, the company rented trading premises from the directors jointly for a commercial rent of £21,600 (2021 - £21,600) per annum.
(3) During the year ended 31 March 2021, the company carried out building work at a sales value of £375,000 at a property personally owned by the director, C J Allison. An amount of £17,000 (2022 - £27,000) in relation to this work is included in trade debtors above.