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Registration number: 07312239

Nationwide Roofing (Southern) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Nationwide Roofing (Southern) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Nationwide Roofing (Southern) Limited

Company Information

Directors

HL Hall

L Way

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail and Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Nationwide Roofing (Southern) Limited

(Registration number: 07312239)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

147,198

113,603

Current assets

 

Debtors

5

213,878

294,179

Cash at bank and in hand

 

10,395

62,436

 

224,273

356,615

Creditors: Amounts falling due within one year

6

(251,339)

(327,269)

Net current (liabilities)/assets

 

(27,066)

29,346

Total assets less current liabilities

 

120,132

142,949

Creditors: Amounts falling due after more than one year

6

-

(1,167)

Provisions for liabilities

(36,799)

(18,856)

Net assets

 

83,333

122,926

Capital and reserves

 

Called up share capital

9

1

1

Capital redemption reserve

49

49

Retained earnings

83,283

122,876

Shareholders' funds

 

83,333

122,926

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

Directors' responsibilities:

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

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Nationwide Roofing (Southern) Limited

(Registration number: 07312239)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:



 

.........................................

HL Hall

Director

 

Nationwide Roofing (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 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:
Maria House
35 Millers Road
Brighton
BN1 5NP
England

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 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.

 

Nationwide Roofing (Southern) Limited

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

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

20% Reducing Balance

Motor vehicles

20% Reducing Balance

Office Equipment

25% Reducing Balance

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.

Borrowings

 

Nationwide Roofing (Southern) Limited

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

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Nationwide Roofing (Southern) Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

3,100

125,238

86,682

215,020

Additions

949

56,546

-

57,495

At 31 December 2023

4,049

181,784

86,682

272,515

Depreciation

At 1 January 2023

2,709

56,799

41,909

101,417

Charge for the year

315

14,631

8,954

23,900

At 31 December 2023

3,024

71,430

50,863

125,317

Carrying amount

At 31 December 2023

1,025

110,354

35,819

147,198

At 31 December 2022

391

68,439

44,773

113,603

5

Debtors

Current

2023
£

2022
£

Trade debtors

86,926

72,813

Prepayments

7,224

55,752

Other debtors

119,728

165,614

 

213,878

294,179

 

Nationwide Roofing (Southern) Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

1,458

3,500

Trade creditors

 

126,069

265,375

Taxation and social security

 

37,424

18,264

Accruals and deferred income

 

3,750

3,885

Other creditors

 

82,638

36,245

 

251,339

327,269

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

-

1,167

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

-

1,167

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

1,458

3,500

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £4,470.00 (2022 - £2,000.00) per ordinary share

 

4,470

 

2,000

         

 

Nationwide Roofing (Southern) Limited

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

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1