Registered number
06012398
M J Roofing (Sussex) Limited
Filleted Accounts
31 December 2023
M J Roofing (Sussex) Limited
Registered number: 06012398
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 23,386 27,341
Investments 5 232,479 231,777
255,865 259,118
Current assets
Debtors 6 7,529 10,012
Cash at bank and in hand 459,419 344,167
466,948 354,179
Creditors: amounts falling due within one year 7 (116,336) (77,621)
Net current assets 350,612 276,558
Total assets less current liabilities 606,477 535,676
Provisions for liabilities (5,846) (5,195)
Net assets 600,631 530,481
Capital and reserves
Called up share capital 100 100
Profit and loss account 600,531 530,381
Shareholders' funds 600,631 530,481
The director is 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 director acknowledges his 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 M J Robinson
Director
Approved by the board on 13 September 2024
M J Roofing (Sussex) Limited
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Equipment 25% reducing balance
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 20,000
At 31 December 2023 20,000
Amortisation
At 1 January 2023 20,000
At 31 December 2023 20,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Equipment Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 9,956 16,551 52,040 78,547
Additions 2,766 1,074 - 3,840
At 31 December 2023 12,722 17,625 52,040 82,387
Depreciation
At 1 January 2023 7,059 13,501 30,646 51,206
Charge for the year 1,416 1,031 5,348 7,795
At 31 December 2023 8,475 14,532 35,994 59,001
Net book value
At 31 December 2023 4,247 3,093 16,046 23,386
At 31 December 2022 2,897 3,050 21,394 27,341
5 Investments
Other
investments
£
Cost
At 1 January 2023 231,777
Additions 702
Additions
At 31 December 2023 232,479
Investment property initially recognised at a cost at the time of purchase with no impairment losses
to the end of the year and subsequently will be measured at fair value through profit or loss
as set out by Accounting policies. It had no professional valuation at this time.
6 Debtors 2023 2022
£ £
Trade debtors 3,525 5,779
Other debtors 4,004 4,233
7,529 10,012
- -
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,363 1,901
Corporation tax 45,136 17,932
Other taxes and social security costs 10,017 10,072
Other creditors 58,820 47,716
116,336 77,621
8 Other information
M J Roofing (Sussex) Limited
is a private company limited by shares and incorporated in England. Its registered office is:
11 Chawkmare Coppice
Bognor Regis
West Sussex
PO21 3BU
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