Registered number
06331664
Kilbride Roofing Ltd
Filleted Accounts
31 December 2023
Kilbride Roofing Ltd
Registered number: 06331664
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 221,348 255,542
Current assets
Stocks 109,931 120,686
Debtors 4 193,262 175,166
Cash at bank and in hand 564,264 1,277,171
867,457 1,573,023
Creditors: amounts falling due within one year 5 (311,701) (306,968)
Net current assets 555,756 1,266,055
Net assets 777,104 1,521,597
Capital and reserves
Called up share capital 100 100
Profit and loss account 777,004 1,521,497
Shareholders' funds 777,104 1,521,597
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 K A Kilbride
Director
Approved by the board on 14 March 2024
Kilbride Roofing Ltd
Notes to the Accounts
for the year ended 31 December 2023
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:
Motor vehicles 25% reducing balance
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 19 17
3 Tangible fixed assets
Furniture, fittings and equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 1,177 166,397 333,740 501,314
Additions - 8,208 37,566 45,774
Disposals - - (20,027) (20,027)
At 31 December 2023 1,177 174,605 351,279 527,061
Depreciation
At 1 January 2023 1,093 93,749 150,930 245,772
Charge for the year 21 20,214 53,547 73,782
On disposals - - (13,841) (13,841)
At 31 December 2023 1,114 113,963 190,636 305,713
Net book value
At 31 December 2023 63 60,642 160,643 221,348
At 31 December 2022 84 72,648 182,810 255,542
4 Debtors 2023 2022
£ £
Trade debtors 150,595 110,434
Prepayments 26,609 21,245
Other debtors 16,058 43,487
193,262 175,166
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 19,379 36,718
Director's current account 146 45
Accruals and deferred income 6,042 5,560
Taxation and social security costs 227,079 186,603
Other creditors 59,055 78,042
311,701 306,968
6 Other information
Kilbride Roofing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
TS Partners Ltd
9 High Street
Wellington
Somerset
TA21 8QT
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