Registered number
05451550
OWEN BROTHERS ROOFING LIMITED
Filleted Accounts
31 March 2024
OWEN BROTHERS ROOFING LIMITED
Registered number: 05451550
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 53,990 57,426
Current assets
Stocks 53,628 2,052
Debtors 4 52,295 81,849
Cash at bank and in hand 205,485 197,257
311,408 281,158
Creditors: amounts falling due within one year 5 (100,696) (55,757)
Net current assets 210,712 225,401
Total assets less current liabilities 264,702 282,827
Creditors: amounts falling due after more than one year 6 - (39,628)
Net assets 264,702 243,199
Capital and reserves
Called up share capital 2 2
Profit and loss account 264,700 243,197
Shareholders' funds 264,702 243,199
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.
D P Owen
Director
Approved by the board on 12 July 2024
OWEN BROTHERS ROOFING LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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:
Freehold buildings over 50 years
Plant and machinery 15% per annum of net book value
Motor vehicles 25% per annum of net book value
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 51,000 6,607 35,640 93,247
At 31 March 2024 51,000 6,607 35,640 93,247
Depreciation
At 1 April 2023 4,080 4,507 27,234 35,821
Charge for the year 1,020 315 2,101 3,436
At 31 March 2024 5,100 4,822 29,335 39,257
Net book value
At 31 March 2024 45,900 1,785 6,305 53,990
At 31 March 2023 46,920 2,100 8,406 57,426
4 Debtors 2024 2023
£ £
Trade debtors 17,336 32,564
Other debtors 34,959 49,285
52,295 81,849
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 62,160 24,376
Accruals and deferred income 4,551 3,763
Taxation and social security costs 33,454 27,618
Directors loans 531 -
100,696 55,757
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loans - 39,628
7 Events after the reporting date
There were no material post balance sheet events up to the 12th July 2024, being the date of approval of the financial statements by the board of directors.
8 Other information
OWEN BROTHERS ROOFING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
12 Cranebrook Close
Crewe
Cheshire
CW1 3YW
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