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REGISTERED NUMBER: 02592578 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Modern Roofs Limited

Modern Roofs Limited (Registered number: 02592578)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Modern Roofs Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Ward
J T Jayes
Mrs K A Wright





SECRETARY: Mrs K A Wright





REGISTERED OFFICE: First Floor, 15A The Nook
Anstey
Leicester
Leicestershire
LE7 7AZ





REGISTERED NUMBER: 02592578 (England and Wales)





ACCOUNTANTS: RT Accountancy Services Limited
3 Fernleigh Business Park
Blaby Road
Enderby
Leicester
Leicestershire
LE19 4AQ

Modern Roofs Limited (Registered number: 02592578)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 26,110 23,851

CURRENT ASSETS
Stocks 36,985 42,612
Debtors 5 108,524 63,320
Cash at bank and in hand 12 78,875
145,521 184,807
CREDITORS
Amounts falling due within one year 6 (123,721 ) (159,888 )
NET CURRENT ASSETS 21,800 24,919
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,910

48,770

CREDITORS
Amounts falling due after more than one
year

7

(14,269

)

(24,155

)
NET ASSETS 33,641 24,615

CAPITAL AND RESERVES
Called up share capital 3,604 3,604
Retained earnings 30,037 21,011
SHAREHOLDERS' FUNDS 33,641 24,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Modern Roofs Limited (Registered number: 02592578)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Mrs K A Wright - Director


Modern Roofs Limited (Registered number: 02592578)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Modern Roofs 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment - 20% on reducing balance
Fixtures fittings and office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Modern Roofs Limited (Registered number: 02592578)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
fittings
and
Plant and office Motor
equipment equipment vehicles Totals
£    £    £    £   
COST
At 1 January 2023 54,956 9,909 70,718 135,583
Additions 454 - 9,450 9,904
At 31 December 2023 55,410 9,909 80,168 145,487
DEPRECIATION
At 1 January 2023 52,551 8,137 51,044 111,732
Charge for year 496 262 6,887 7,645
At 31 December 2023 53,047 8,399 57,931 119,377
NET BOOK VALUE
At 31 December 2023 2,363 1,510 22,237 26,110
At 31 December 2022 2,405 1,772 19,674 23,851

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 104,078 59,989
Other debtors 4,446 3,331
108,524 63,320

Modern Roofs Limited (Registered number: 02592578)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,859 10,648
Hire purchase contracts 12,482 6,941
Trade creditors 69,286 108,280
Taxation and social security 5,298 15,188
Other creditors 4,796 18,831
123,721 159,888

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 14,269 24,155

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 24,155

Modern Roofs Limited

Report of the Accountants to the Directors of
Modern Roofs Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






RT Accountancy Services Limited
3 Fernleigh Business Park
Blaby Road
Enderby
Leicester
Leicestershire
LE19 4AQ


11 September 2024