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REGISTERED NUMBER: 02775312 (England and Wales)















Advanced Roofing Services Limited

Unaudited Financial Statements for the Year Ended 31 January 2024






Advanced Roofing Services Limited (Registered number: 02775312)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Advanced Roofing Services Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr F D Di Furia
Mr D M Woodhead





SECRETARY: Mr D M Woodhead





REGISTERED OFFICE: Atlantic House
8 Bell Lane
Uckfield
East Sussex
TN22 1QL





REGISTERED NUMBER: 02775312 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Advanced Roofing Services Limited (Registered number: 02775312)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 95,113 124,120

CURRENT ASSETS
Stocks 5 13,910 47,876
Debtors 6 427,099 374,136
Cash at bank and in hand 638,906 723,844
1,079,915 1,145,856
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

588,228

693,704
NET CURRENT ASSETS 491,687 452,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

586,800

576,272

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(81,698

)

(130,646

)

PROVISIONS FOR LIABILITIES (41,269 ) (33,848 )
NET ASSETS 463,833 411,778

CAPITAL AND RESERVES
Called up share capital 10 2 2
Capital redemption reserve 1 1
Retained earnings 463,830 411,775
SHAREHOLDERS' FUNDS 463,833 411,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Advanced Roofing Services Limited (Registered number: 02775312)

Balance Sheet - continued
31 January 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





Mr D M Woodhead - Director


Advanced Roofing Services Limited (Registered number: 02775312)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Advanced Roofing Services 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 represents revenue, net of VAT, from commercial transactions in respect of the sales of roofing services to customers and it is recognised when the company obtains, through performance under contract, the right to consideration for those services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - over the term of the lease
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and short term work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Revenue from long term contracts is recognised by stage of completion. Stage of completion is measured by reference to costs incurred to date as a percentage of total estimated costs for each contract. Where the contract outcome cannot be measured reliably, revenue is measured only to the extent of the expenses recognised that are recoverable. Full provision is made for losses on all contracts in the year in which they are first foreseen.


Advanced Roofing Services Limited (Registered number: 02775312)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 contributes to employees' pension schemes. Contributions payable are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

Advanced Roofing Services Limited (Registered number: 02775312)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 February 2023 937 - 14,556
Additions - 4,417 -
Disposals - - (225 )
At 31 January 2024 937 4,417 14,331
DEPRECIATION
At 1 February 2023 937 - 13,199
Charge for year - 1,104 299
Eliminated on disposal - - (56 )
At 31 January 2024 937 1,104 13,442
NET BOOK VALUE
At 31 January 2024 - 3,313 889
At 31 January 2023 - - 1,357

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 376,899 1,443 393,835
Additions - - 4,417
Disposals (23,640 ) - (23,865 )
At 31 January 2024 353,259 1,443 374,387
DEPRECIATION
At 1 February 2023 254,703 876 269,715
Charge for year 30,166 141 31,710
Eliminated on disposal (22,095 ) - (22,151 )
At 31 January 2024 262,774 1,017 279,274
NET BOOK VALUE
At 31 January 2024 90,485 426 95,113
At 31 January 2023 122,196 567 124,120

Advanced Roofing Services Limited (Registered number: 02775312)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023
and 31 January 2024 59,589
DEPRECIATION
At 1 February 2023 14,897
Charge for year 11,173
At 31 January 2024 26,070
NET BOOK VALUE
At 31 January 2024 33,519
At 31 January 2023 44,692

5. STOCKS
2024 2023
£    £   
Stocks 14,180 65,515
Payments on account (270 ) (17,639 )
13,910 47,876

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 402,319 321,814
Amounts recoverable on contract 15,200 42,713
Other debtors 9,580 9,609
427,099 374,136

Advanced Roofing Services Limited (Registered number: 02775312)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,000 36,000
Hire purchase contracts 12,949 12,949
Payments on account 2,228 30,246
Trade creditors 226,947 255,557
Taxation and social security 236,942 234,404
Other creditors 73,162 124,548
588,228 693,704

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 60,000 96,000
Hire purchase contracts 21,698 34,646
81,698 130,646

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 96,000 132,000
Hire purchase contracts 34,647 47,595
130,647 179,595

The loans in respect of the hire purchase agreements are secured against the assets to which they relate.

The bank loan is secured by way of fixed and floating charges over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. RELATED PARTY DISCLOSURES

During the year, the company paid dividends to the directors totalling £116,000 (2023 - £206,000).