Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 03733197 Mr Darren O'Hara Mrs Sherie Male iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03733197 2023-03-31 03733197 2024-03-31 03733197 2023-04-01 2024-03-31 03733197 frs-core:CurrentFinancialInstruments 2024-03-31 03733197 frs-core:Non-currentFinancialInstruments 2024-03-31 03733197 frs-core:ComputerEquipment 2024-03-31 03733197 frs-core:ComputerEquipment 2023-04-01 2024-03-31 03733197 frs-core:ComputerEquipment 2023-03-31 03733197 frs-core:FurnitureFittings 2024-03-31 03733197 frs-core:FurnitureFittings 2023-04-01 2024-03-31 03733197 frs-core:FurnitureFittings 2023-03-31 03733197 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 03733197 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03733197 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 03733197 frs-core:MotorVehicles 2024-03-31 03733197 frs-core:MotorVehicles 2023-04-01 2024-03-31 03733197 frs-core:MotorVehicles 2023-03-31 03733197 frs-core:PlantMachinery 2024-03-31 03733197 frs-core:PlantMachinery 2023-04-01 2024-03-31 03733197 frs-core:PlantMachinery 2023-03-31 03733197 frs-core:ShareCapital 2024-03-31 03733197 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03733197 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03733197 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03733197 frs-bus:SmallEntities 2023-04-01 2024-03-31 03733197 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03733197 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03733197 frs-bus:Director1 2023-04-01 2024-03-31 03733197 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 03733197 frs-countries:EnglandWales 2023-04-01 2024-03-31 03733197 2022-03-31 03733197 2023-03-31 03733197 2022-04-01 2023-03-31 03733197 frs-core:CurrentFinancialInstruments 2023-03-31 03733197 frs-core:Non-currentFinancialInstruments 2023-03-31 03733197 frs-core:ShareCapital 2023-03-31 03733197 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 03733197 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 03733197
Element Roofing Co. Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03733197
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 76,503 66,153
76,503 66,153
CURRENT ASSETS
Stocks 5 3,217 9,270
Debtors 6 119,291 356,011
Cash at bank and in hand 98,855 56,765
221,363 422,046
Creditors: Amounts Falling Due Within One Year 7 (277,581 ) (264,796 )
NET CURRENT ASSETS (LIABILITIES) (56,218 ) 157,250
TOTAL ASSETS LESS CURRENT LIABILITIES 20,285 223,403
Creditors: Amounts Falling Due After More Than One Year 8 (12,030 ) (22,030 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,155 ) (12,569 )
NET ASSETS 100 188,804
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account - 188,704
SHAREHOLDERS' FUNDS 100 188,804
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Darren O'Hara
Director
19/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Element Roofing Co. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03733197 . The registered office is The Old Barn, Off Wood Street, Swanley Village, Kent, BR8 7PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NIL
Plant & Machinery 15%
Motor Vehicles 25%
Fixtures & Fittings 15%
Computer Equipment 15%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 37,760 46,814 68,853 18,767
Additions - 11,108 9,500 -
Disposals - (5,973 ) - -
As at 31 March 2024 37,760 51,949 78,353 18,767
Depreciation
As at 1 April 2023 - 42,966 59,260 13,459
Provided during the period - 2,066 4,773 797
Disposals - (4,797 ) - -
As at 31 March 2024 - 40,235 64,033 14,256
Net Book Value
As at 31 March 2024 37,760 11,714 14,320 4,511
As at 1 April 2023 37,760 3,848 9,593 5,308
Computer Equipment Total
£ £
Cost
As at 1 April 2023 25,090 197,284
Additions - 20,608
Disposals - (5,973 )
As at 31 March 2024 25,090 211,919
Depreciation
As at 1 April 2023 15,446 131,131
Provided during the period 1,446 9,082
Disposals - (4,797 )
As at 31 March 2024 16,892 135,416
Net Book Value
As at 31 March 2024 8,198 76,503
As at 1 April 2023 9,644 66,153
Page 4
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5. Stocks
2024 2023
£ £
Stock 3,217 -
Work in progress - 9,270
3,217 9,270
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 57,225 69,384
Prepayments and accrued income 4,372 4,308
Intercompany account - 282,319
Amounts owed by other participating interests 57,694 -
119,291 356,011
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 126,517 129,961
Bank loans and overdrafts 10,000 10,000
Corporation tax 47,120 46,211
Other taxes and social security 10,552 7,043
VAT 50,927 37,638
Other creditors 12,423 11,098
Accruals and deferred income 17,508 21,248
Director's loan account 2,534 1,597
277,581 264,796
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,030 22,030
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
10. Related Party Transactions
Included in the Other Debtors is an amount owed from Element Roofing Holdings Ltd totalling £243,268 (2023 - £281,775), for which Mr C Male is a director. No interest is to be charged and no repayment terms have been agreed.
Included in the Other Debtors is an amount owed from Element Roofing & Son Ltd totalling £212 (2023 - £212), for which Mr C Male is a director. No interest is to be charged and no repayment terms have been agreed.
Included in the Other Debtors is an amount owed from 46 Coldharbour Ltd totalling £332 (2023 - £332), for which Mr C Male is a director. No interest is to be charged and no repayment terms have been agreed.
Included in the Other Debtors is an amount £8533 (2023 - £1,597), owed to the company from the director Mr D'Ohara. No interest is to be charged and no repayment terms have been agreed.
Page 6