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REGISTERED NUMBER: 01262204 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

FENLAND FLAT ROOFING LIMITED

FENLAND FLAT ROOFING LIMITED (REGISTERED NUMBER: 01262204)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FENLAND FLAT ROOFING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: A R Bacon
D Stark
C Preston
D Dean
S Felgate





REGISTERED OFFICE: 9 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG





REGISTERED NUMBER: 01262204 (England and Wales)





AUDITORS: Ad Valorem Audit Services Limited
Chartered Certified Accountants
& Statutory Auditors
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN

FENLAND FLAT ROOFING LIMITED (REGISTERED NUMBER: 01262204)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 5 279,873 304,938

CURRENT ASSETS
Stocks 63,801 69,543
Debtors 6 2,829,859 4,926,508
Cash at bank 1,873,821 1,044,352
4,767,481 6,040,403
CREDITORS
Amounts falling due within one year 7 1,201,753 1,302,948
NET CURRENT ASSETS 3,565,728 4,737,455
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,845,601

5,042,393

CREDITORS
Amounts falling due after more than one
year

8

(16,682

)

(25,776

)

PROVISIONS FOR LIABILITIES (38,230 ) (56,653 )
NET ASSETS 3,790,689 4,959,964

CAPITAL AND RESERVES
Called up share capital 11 100 100
Other reserves 200 200
Retained earnings 3,790,389 4,959,664
SHAREHOLDERS' FUNDS 3,790,689 4,959,964

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2024 and were signed on its behalf by:





A R Bacon - Director


FENLAND FLAT ROOFING LIMITED (REGISTERED NUMBER: 01262204)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Fenland Flat 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Contract revenue within turnover includes the value of work completed during the financial year after reference to the total sales value and the stage of completion of the contract, as detailed more fully below.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

FENLAND FLAT ROOFING LIMITED (REGISTERED NUMBER: 01262204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. ACCOUNTING POLICIES - continued

AMOUNTS RECOVERABLE ON CONTRACTS
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total costs expected for the contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

DEBTORS AND CREDITORS RECEIVABLE/PAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

TAX
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. it is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

FENLAND FLAT ROOFING LIMITED (REGISTERED NUMBER: 01262204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Improvements and Motor
to property fittings vehicles Totals
£ £ £ £
COST
At 1 February 2023 99,881 168,077 304,478 572,436
Additions - 14,194 36,850 51,044
At 31 January 2024 99,881 182,271 341,328 623,480
DEPRECIATION
At 1 February 2023 52,237 129,223 86,038 267,498
Charge for year 9,988 10,743 55,378 76,109
At 31 January 2024 62,225 139,966 141,416 343,607
NET BOOK VALUE
At 31 January 2024 37,656 42,305 199,912 279,873
At 31 January 2023 47,644 38,854 218,440 304,938

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 February 2023 168,597
Additions 36,850
Transfer to ownership (17,229 )
At 31 January 2024 188,218
DEPRECIATION
At 1 February 2023 57,725
Charge for year 27,930
Transfer to ownership (10,011 )
At 31 January 2024 75,644
NET BOOK VALUE
At 31 January 2024 112,574
At 31 January 2023 110,872

FENLAND FLAT ROOFING LIMITED (REGISTERED NUMBER: 01262204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 40,118 145,025
Amounts owed by group undertakings 277,086 1,883,943
Amounts recoverable on
contracts 1,438,775 1,957,287
Other debtors 1,462 2,388
VAT 93,910 97,344
Prepayments and accrued income 484,632 302,706
2,335,983 4,388,693

Amounts falling due after more than one year:
Amounts recoverable on
contracts 493,876 537,815
493,876 537,815

Aggregate amounts 2,829,859 4,926,508

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 9) 33,255 46,114
Trade creditors 792,691 801,704
Tax 133,211 133,309
Social security and other taxes 72,236 71,315
Other creditors 350 450
Accruals and deferred income 170,010 250,056
1,201,753 1,302,948

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Hire purchase contracts (see note 9) 16,682 25,776

FENLAND FLAT ROOFING LIMITED (REGISTERED NUMBER: 01262204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 33,255 46,114
Between one and five years 16,682 25,776
49,937 71,890

Non-cancellable
operating leases
2024 2023
£ £
Within one year 959 5,754
Between one and five years - 959
959 6,713

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 49,937 71,890

Hire purchase contracts are secured against the relevant assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Darren Kerins FCCA (Senior Statutory Auditor)
for and on behalf of Ad Valorem Audit Services Limited

13. CONTINGENT LIABILITIES

The company has provided a cross guarantee and debentures for its parent company's loans. The loans are secured by way of fixed and floating charges over all the assets of both companies. At 31 January 2024 the parent company's indebtedness under these guarantees and debentures had been settled (2023 - £561,937).

FENLAND FLAT ROOFING LIMITED (REGISTERED NUMBER: 01262204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


14. RELATED PARTY DISCLOSURES

At the year end, the company had a debtor of £277,086 (2023 - £1,883,943) owed by its parent company. The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', to not disclose related party transactions with its parent company.

During the year, the company paid rent of £6,667 (2023 - £6,667) to a director and £22,933 (2023 - £22,933) to a business operated by members of that director's family.

15. POST BALANCE SHEET EVENTS

The company is a subsidiary of Fenland Holdings Ltd, a company incorporated in England and Wales.

The registered office of Fenland Holdings Ltd is situated at 9 High Green, Great Shelford, Cambridge, CB22 5EG.

On 1 February 2024, Fenland Holdings Ltd was acquired by the employees of the company via an Employee Ownership Trust. From that date, the ultimate parent company is Fenland Holdings Trustees Limited. The registered office remains unchanged.