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ASHBROOK ROOFING SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






ASHBROOK ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04549398)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASHBROOK ROOFING SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mrs C Ashbrook
G H Ashbrook





REGISTERED OFFICE: Harrison Way
Darley Dale
Matlock
Derbyshire
DE4 2LF





REGISTERED NUMBER: 04549398 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

ASHBROOK ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04549398)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 56,474 68,122
Tangible assets 5 324,959 400,644
Investments 6 1,300 1,300
382,733 470,066

CURRENT ASSETS
Stocks 7 397,329 481,406
Debtors 8 165,524 250,006
Cash at bank and in hand 484 13,523
563,337 744,935
CREDITORS
Amounts falling due within one year 9 893,100 845,951
NET CURRENT LIABILITIES (329,763 ) (101,016 )
TOTAL ASSETS LESS CURRENT LIABILITIES 52,970 369,050

CREDITORS
Amounts falling due after more than one
year

10

(3,915

)

(43,459

)

PROVISIONS FOR LIABILITIES 13 - (33,600 )
NET ASSETS 49,055 291,991

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 48,955 291,891
SHAREHOLDERS' FUNDS 49,055 291,991

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.

ASHBROOK ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04549398)

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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:





G H Ashbrook - Director


ASHBROOK ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04549398)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Ashbrook Roofing Supplies 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 4% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Leasehold property is amortised over 25 years on a straight line basis.

Stocks
Stocks of raw materials and consumables are valued at the lower of cost and net realisable value.
Profits on contracts for roofing work in progress are taken at the point at which practical completion has taken place. Provision is made for foreseeable losses on all contracts based on the loss which is currently estimated to arise over the duration of the contract, irrespective of the amount of work carried out at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

ASHBROOK ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04549398)

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial liabilities
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities are measured initially at fair value, net of transaction cost and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Financial assets
Short term debtors are measured at transaction price, less any impairment. Other financial assets are measured initially at fair value, net of transactions cost and are subsequently measured at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 43 ) .

ASHBROOK ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04549398)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022 102,171
Additions 21,018
At 31 July 2023 123,189
AMORTISATION
At 1 August 2022 34,049
Charge for year 32,666
At 31 July 2023 66,715
NET BOOK VALUE
At 31 July 2023 56,474
At 31 July 2022 68,122

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 August 2022 287,226 133,029 39,690
Disposals - (3,026 ) (1,556 )
At 31 July 2023 287,226 130,003 38,134
DEPRECIATION
At 1 August 2022 98,402 76,222 25,131
Charge for year 11,489 14,017 3,441
Eliminated on disposal - (2,281 ) (769 )
At 31 July 2023 109,891 87,958 27,803
NET BOOK VALUE
At 31 July 2023 177,335 42,045 10,331
At 31 July 2022 188,824 56,807 14,559

ASHBROOK ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04549398)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 183,428 119,275 762,648
Disposals (17,437 ) (790 ) (22,809 )
At 31 July 2023 165,991 118,485 739,839
DEPRECIATION
At 1 August 2022 73,395 88,854 362,004
Charge for year 24,240 7,509 60,696
Eliminated on disposal (4,360 ) (410 ) (7,820 )
At 31 July 2023 93,275 95,953 414,880
NET BOOK VALUE
At 31 July 2023 72,716 22,532 324,959
At 31 July 2022 110,033 30,421 400,644

6. FIXED ASSET INVESTMENTS
Other
investment
£   
COST
At 1 August 2022
and 31 July 2023 1,300
NET BOOK VALUE
At 31 July 2023 1,300
At 31 July 2022 1,300

7. STOCKS
2023 2022
£    £   
Stock & work in progress 397,329 481,406

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 108,586 111,519
Amounts owed by participating interests 30,100 -
Other debtors 26,838 138,487
165,524 250,006

ASHBROOK ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04549398)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 94,835 56,374
Hire purchase contracts (see note 11) 28,438 40,700
Trade creditors 493,657 480,016
Amounts owed to participating interests 126,368 66,368
Taxation and social security 54,003 112,210
Other creditors 95,799 90,283
893,100 845,951

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 2,630 11,139
Hire purchase contracts (see note 11) 1,285 32,320
3,915 43,459

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 28,438 40,700
Between one and five years 1,285 32,320
29,723 73,020

Non-cancellable operating leases
2023 2022
£    £   
Within one year 20,000 20,000
Between one and five years 100,000 100,000
In more than five years 5,000 25,000
125,000 145,000

ASHBROOK ROOFING SUPPLIES LIMITED (REGISTERED NUMBER: 04549398)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 86,596 48,418
Bank loans 10,869 19,095
Hire purchase contracts 29,723 73,020
127,188 140,533

The National Westminster Bank plc has a fixed and floating charge, created on 27th April 2005, over the company and the whole of its assets.

Liabilities under hire purchase contracts are secured on the individual assets concerned.

13. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 33,600

Deferred
tax
£   
Balance at 1 August 2022 33,600
Provided during year (33,600 )
Balance at 31 July 2023 -

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
34 Ordinary A £1 34 34
33 Ordinary B £1 33 33
33 Ordinary C £1 33 33
100 100