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Registration number: 14534881

Cavendish Roofing Limited

Annual Report and Unaudited Financial Statements

for the Period from 12 December 2022 to 31 December 2023

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Cavendish Roofing Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Cavendish Roofing Limited

Company Information

Director

Mr Terry Christopher Butterfield

Registered office

4 Cavendish Close
Telscombe Cliffs
Peacehaven
East Sussex
BN10 7LQ

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Cavendish Roofing Limited

(Registration number: 14534881)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed Assets

 

Tangible Assets

4

843

Current assets

 

Debtors

5

15,040

Creditors: Amounts falling due within one year

6

(15,250)

Net current liabilities

 

(210)

Total assets less current liabilities

 

633

Provisions for liabilities

(160)

Net assets

 

473

Capital and Reserves

 

Called up share capital

1

Retained Earnings

472

Shareholders' funds

 

473

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 September 2024
 

.........................................
Mr Terry Christopher Butterfield
Director

   
     
 

Cavendish Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 12 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Cavendish Close
Telscombe Cliffs
Peacehaven
East Sussex
BN10 7LQ
England

These financial statements were authorised for issue by the director on 3 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Cavendish Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 12 December 2022 to 31 December 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% SL

Office equipment

25% SL

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Cavendish Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 12 December 2022 to 31 December 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Cavendish Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 12 December 2022 to 31 December 2023

4

Tangible Assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

448

441

889

At 31 December 2023

448

441

889

Depreciation

Charge for the period

9

37

46

At 31 December 2023

9

37

46

Carrying amount

At 31 December 2023

439

404

843

5

Debtors

Current

2023
£

Trade Debtors

9,433

Other debtors

5,607

 

15,040

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

7

1,599

Trade Creditors

 

544

Taxation and social security

 

11,457

Accruals and deferred income

 

1,650

 

15,250

7

Loans and borrowings

 

Cavendish Roofing Limited

Notes to the Unaudited Financial Statements for the Period from 12 December 2022 to 31 December 2023

2023
£

Current loans and borrowings

Bank overdrafts

1,599

8

Related party transactions

Loans to related parties

2023

Key management
£

Total
£

Advanced

4,590

4,590

At end of period

4,590

4,590

Terms of loans to related parties

During the year the company provided the director with an interest free loan which was unsecured and repayable on demand.