Company registration number 01933415 (England and Wales)
HENSHAWS ROOFING AND BUILDING SUPPLIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
HENSHAWS ROOFING AND BUILDING SUPPLIES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HENSHAWS ROOFING AND BUILDING SUPPLIES LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
664,656
623,751
Current assets
Stocks
900,976
913,585
Debtors
4
1,037,070
703,920
Cash at bank and in hand
616,401
457,669
2,554,447
2,075,174
Creditors: amounts falling due within one year
5
(1,126,755)
(791,484)
Net current assets
1,427,692
1,283,690
Total assets less current liabilities
2,092,348
1,907,441
Creditors: amounts falling due after more than one year
6
(216,552)
(231,999)
Provisions for liabilities
(33,533)
(33,533)
Net assets
1,842,263
1,641,909
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,842,163
1,641,809
Total equity
1,842,263
1,641,909
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 July 2024 and are signed on its behalf by:
A Shelley
K Shelley
Director
Director
Company registration number 01933415 (England and Wales)
HENSHAWS ROOFING AND BUILDING SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
10% reducing balance
Computer equipment
33% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Equity instruments
Ordinary shares are classified as equity. There are two classes of Ordinary shares. There are no restrictions on the distribution of dividends or the repayment of capital.
HENSHAWS ROOFING AND BUILDING SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Company information
Henshaws Roofing and Building Supplies Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Capital House, 272 Manchester Road, Droylsden, Manchester, M43 6PW.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 30 (2023 - 29).
2024
2023
Number
Number
Total
30
29
HENSHAWS ROOFING AND BUILDING SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
3
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 February 2023
211,063
127,333
22,030
34,218
570,442
965,086
Additions
38,000
3,500
153,870
195,370
Disposals
(13,667)
(82,232)
(95,899)
At 31 January 2024
249,063
127,333
25,530
20,551
642,080
1,064,557
Depreciation and impairment
At 1 February 2023
53,466
8,601
26,911
252,357
341,335
Depreciation charged in the year
11,714
2,539
6,785
112,842
133,880
Eliminated in respect of disposals
(13,667)
(61,647)
(75,314)
At 31 January 2024
65,180
11,140
20,029
303,552
399,901
Carrying amount
At 31 January 2024
249,063
62,153
14,390
522
338,528
664,656
At 31 January 2023
211,063
73,867
13,429
7,307
318,085
623,751
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
780,436
604,141
Corporation tax recoverable
49,027
Other debtors
154,416
62,093
Prepayments and accrued income
53,191
37,686
1,037,070
703,920
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
661,285
331,062
Taxation and social security
222,904
181,106
Other creditors
242,566
279,316
1,126,755
791,484
Net obligations under finance lease and hire purchase contracts are secured under fixed charges on the assets concerned.
HENSHAWS ROOFING AND BUILDING SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
216,552
231,999
8
Related party transactions
The company has taken advantage of the exemption under Financial Reporting Standard 102 33.1A from disclosing any transactions and balances with group entities of which the group owns 100% of the share capital.
9
Parent company
The ultimate parent undertaking and controlling party is AKS Commercial Ltd.