Registered number
03769001
RT Roofing Services Ltd
Filleted Accounts
31 January 2024
RT Roofing Services Ltd
Registered number: 03769001
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 183,880 212,624
Current assets
Stocks 203,951 268,015
Debtors 4 1,794,491 1,318,641
Cash at bank and in hand 162,829 185,967
2,161,271 1,772,623
Creditors: amounts falling due within one year 5 (1,248,547) (869,355)
Net current assets 912,724 903,268
Total assets less current liabilities 1,096,604 1,115,892
Creditors: amounts falling due after more than one year 6 (85,951) (118,098)
Provisions for liabilities (33,776) (39,163)
Net assets 976,877 958,631
Capital and reserves
Called up share capital 100 100
Profit and loss account 976,777 958,531
Shareholders' funds 976,877 958,631
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 R Tebbutt
Director
Approved by the board on 22 March 2024
RT Roofing Services Ltd
Notes to the Accounts
for the year ended 31 January 2024
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, 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 33% SL
Motor vehicles 25% SL
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 2024 2023
Number Number
Average number of persons employed by the company, including the director 24 26
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 95,701 418,673 514,374
Additions 4,382 35,615 39,997
Disposals (3,315) - (3,315)
At 31 January 2024 96,768 454,288 551,056
Depreciation
At 1 February 2023 84,227 217,523 301,750
Charge for the year 7,962 60,775 68,737
On disposals (3,311) - (3,311)
At 31 January 2024 88,878 278,298 367,176
Net book value
At 31 January 2024 7,890 175,990 183,880
At 31 January 2023 11,474 201,150 212,624
4 Debtors 2024 2023
£ £
Trade debtors 1,729,159 1,306,525
Other debtors 65,332 12,116
1,794,491 1,318,641
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Obligations under finance lease and hire purchase contracts 51,531 43,181
Trade creditors 1,108,697 683,070
Taxation and social security costs 69,625 117,638
Other creditors 8,046 14,818
1,248,547 869,355
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,213 24,079
Obligations under finance lease and hire purchase contracts 71,738 94,019
85,951 118,098
7 Controlling party
The company is controlled by its director, Mr R Tebbutt.
8 Other information
RT Roofing Services 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
RT Roofing Services Ltd 03769001 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Mr R Tebbutt No description of principal activity 03769001 2022-02-01 2023-01-31 03769001 core:WithinOneYear 2023-01-31 03769001 core:AfterOneYear 2023-01-31 03769001 core:ShareCapital 2023-01-31 03769001 core:RetainedEarningsAccumulatedLosses 2023-01-31 03769001 2023-02-01 2024-01-31 03769001 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03769001 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 03769001 bus:Director40 2023-02-01 2024-01-31 03769001 1 2023-02-01 2024-01-31 03769001 2 2023-02-01 2024-01-31 03769001 core:PlantMachinery 2023-02-01 2024-01-31 03769001 core:Vehicles 2023-02-01 2024-01-31 03769001 countries:England 2023-02-01 2024-01-31 03769001 bus:FRS102 2023-02-01 2024-01-31 03769001 bus:FilletedAccounts 2023-02-01 2024-01-31 03769001 2024-01-31 03769001 core:WithinOneYear 2024-01-31 03769001 core:AfterOneYear 2024-01-31 03769001 core:ShareCapital 2024-01-31 03769001 core:RetainedEarningsAccumulatedLosses 2024-01-31 03769001 core:PlantMachinery 2024-01-31 03769001 core:Vehicles 2024-01-31 03769001 2023-01-31 03769001 core:PlantMachinery 2023-01-31 03769001 core:Vehicles 2023-01-31 iso4217:GBP xbrli:pure