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MIDLAND ROOFING SERVICES (DERBY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






MIDLAND ROOFING SERVICES (DERBY) LIMITED (REGISTERED NUMBER: 01418068)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIDLAND ROOFING SERVICES (DERBY) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: D N Gotts





REGISTERED OFFICE: Staker Lane
Mickleover
Derby
Derbyshire
DE3 0DJ





REGISTERED NUMBER: 01418068 (England and Wales)





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

MIDLAND ROOFING SERVICES (DERBY) LIMITED (REGISTERED NUMBER: 01418068)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 207,991 132,332

CURRENT ASSETS
Stocks 13,314 13,747
Debtors 5 901,621 671,013
Cash at bank and in hand 466,148 469,533
1,381,083 1,154,293
CREDITORS
Amounts falling due within one year 6 795,516 715,922
NET CURRENT ASSETS 585,567 438,371
TOTAL ASSETS LESS CURRENT LIABILITIES 793,558 570,703

CREDITORS
Amounts falling due after more than one
year

7

(108,256

)

(81,235

)

PROVISIONS FOR LIABILITIES 8 (48,300 ) (28,900 )
NET ASSETS 637,002 460,568

CAPITAL AND RESERVES
Called up share capital 22,500 22,500
Capital redemption reserve 27,500 27,500
Retained earnings 587,002 410,568
SHAREHOLDERS' FUNDS 637,002 460,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

MIDLAND ROOFING SERVICES (DERBY) LIMITED (REGISTERED NUMBER: 01418068)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 31 January 2024 and were signed by:





D N Gotts - Director


MIDLAND ROOFING SERVICES (DERBY) LIMITED (REGISTERED NUMBER: 01418068)

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


1. STATUTORY INFORMATION

Midland Roofing Services (Derby) 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 50% 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.

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.

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.

MIDLAND ROOFING SERVICES (DERBY) LIMITED (REGISTERED NUMBER: 01418068)

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


2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 44 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2022 69,219 185,653 173,913 428,785
Additions - 3,777 108,186 111,963
Disposals (69,219 ) - - (69,219 )
At 31 May 2023 - 189,430 282,099 471,529
DEPRECIATION
At 1 June 2022 67,893 181,109 47,451 296,453
Charge for year 166 1,278 33,700 35,144
Eliminated on disposal (68,059 ) - - (68,059 )
At 31 May 2023 - 182,387 81,151 263,538
NET BOOK VALUE
At 31 May 2023 - 7,043 200,948 207,991
At 31 May 2022 1,326 4,544 126,462 132,332

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 897,389 610,079
Amounts owed by group undertakings - 38,070
Other debtors 4,232 22,864
901,621 671,013

MIDLAND ROOFING SERVICES (DERBY) LIMITED (REGISTERED NUMBER: 01418068)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 47,894 42,383
Trade creditors 522,405 523,928
Taxation and social security 183,124 128,565
Other creditors 42,093 21,046
795,516 715,922

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 108,256 81,235

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 48,300 28,900

Deferred
tax
£   
Balance at 1 June 2022 28,900
Provided during year 19,400
Balance at 31 May 2023 48,300