REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2023 |
for |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2023 |
for |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited (Registered number: 01319830) |
Contents of the Financial Statements |
for the Year Ended 30 April 2023 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 | to | 4 |
Notes to the Financial Statements | 5 | to | 7 |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited |
Company Information |
for the Year Ended 30 April 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 West Court |
Enterprise Road |
Maidstone |
Kent |
ME15 6JD |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J.H. & R.R. Mundy (Roofing Supplies) Limited for the year ended 30 April 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of J.H. & R.R. Mundy (Roofing Supplies) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J.H. & R.R. Mundy (Roofing Supplies) Limited and state those matters that we have agreed to state to the director of J.H. & R.R. Mundy (Roofing Supplies) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J.H. & R.R. Mundy (Roofing Supplies) Limited and its director for our work or for this report. |
It is your duty to ensure that J.H. & R.R. Mundy (Roofing Supplies) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J.H. & R.R. Mundy (Roofing Supplies) Limited. You consider that J.H. & R.R. Mundy (Roofing Supplies) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of J.H. & R.R. Mundy (Roofing Supplies) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
5 West Court |
Enterprise Road |
Maidstone |
Kent |
ME15 6JD |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited (Registered number: 01319830) |
Balance Sheet |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Investments | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges his 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. |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited (Registered number: 01319830) |
Balance Sheet - continued |
30 April 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited (Registered number: 01319830) |
Notes to the Financial Statements |
for the Year Ended 30 April 2023 |
1. | COMPANY INFORMATION |
J.H. & R.R. Mundy (Roofing Supplies) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measure 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 form the rendering of services. |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. |
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
Tangible fixed assets |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives of the following basis: |
Land and buildings Leasehold over the term of the lease |
Plant and machinery 25% reducing balance |
Fixtures, fittings & equipment 25% reducing balance |
Motor vehicles 25% reducing balance |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. |
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. |
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited (Registered number: 01319830) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
Deferred tax |
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Retirement benefits |
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. |
Going concern |
The directors acknowledge the uncertainty concerning Covid-19 and the impact that this could have on the company's operational existence. At the time of approving the financial statements, Covid-19 has not had a material impact on the activities of the company and the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.Therefore, the directors deem it appropriate to continue to adopt the going concern basis in preparing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 May 2022 |
and 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
J.H. & R.R. Mundy (Roofing Supplies) |
Limited (Registered number: 01319830) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CURRENT ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Listed investments | 1,085,367 | 1,123,904 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included within other creditors is an amount of £140,864 (2022: £191,878) owed to R Mundy in respect of his directors loan account. |
9. | RELATED PARTY DISCLOSURES |
Included in Other debtors is an amount of £ |
Included in Other creditors is an amount of £ |