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REGISTERED NUMBER: 01029710 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SUPA ROOFING & POWER TOOLS LIMITED

SUPA ROOFING & POWER TOOLS LIMITED (REGISTERED NUMBER: 01029710)

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


SUPA ROOFING & POWER TOOLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr C R Greenberry
Mr K E Simpson



SECRETARY: Mr K E Simpson



REGISTERED OFFICE: Aller Mills
Kingskerswell
Newton Abbot
Devon
TQ12 5AU



REGISTERED NUMBER: 01029710 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Barclays Bank Plc
6-8 Palace Avenue
Paignton
Devon
TQ3 3ET

SUPA ROOFING & POWER TOOLS LIMITED (REGISTERED NUMBER: 01029710)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 513,500 523,651

CURRENT ASSETS
Stocks 5 673,160 546,594
Debtors 6 670,032 641,591
Investments 7 2,550 2,550
Cash at bank and in hand 38,213 64,679
1,383,955 1,255,414
CREDITORS
Amounts falling due within one year 8 510,231 501,611
NET CURRENT ASSETS 873,724 753,803
TOTAL ASSETS LESS CURRENT LIABILITIES 1,387,224 1,277,454

CREDITORS
Amounts falling due after more than one
year

9

(40,584

)

(70,435

)

PROVISIONS FOR LIABILITIES (22,738 ) (18,226 )
NET ASSETS 1,323,902 1,188,793

CAPITAL AND RESERVES
Called up share capital 3,624 3,624
Other reserves 10,867 10,867
Retained earnings 1,309,411 1,174,302
SHAREHOLDERS' FUNDS 1,323,902 1,188,793

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.

SUPA ROOFING & POWER TOOLS LIMITED (REGISTERED NUMBER: 01029710)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2024 and were signed on its behalf by:





Mr C R Greenberry - Director


SUPA ROOFING & POWER TOOLS LIMITED (REGISTERED NUMBER: 01029710)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Supa Roofing & Power Tools 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Fixtures fittings & equipment - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 Statement of Income and Retained Earnings, 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.

SUPA ROOFING & POWER TOOLS LIMITED (REGISTERED NUMBER: 01029710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold fittings Motor Computer
property & equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 469,492 127,407 201,318 6,880 805,097
Additions - - 25,680 - 25,680
At 31 December 2023 469,492 127,407 226,998 6,880 830,777
DEPRECIATION
At 1 January 2023 42,245 120,894 116,072 2,235 281,446
Charge for year 4,695 1,628 27,788 1,720 35,831
At 31 December 2023 46,940 122,522 143,860 3,955 317,277
NET BOOK VALUE
At 31 December 2023 422,552 4,885 83,138 2,925 513,500
At 31 December 2022 427,247 6,513 85,246 4,645 523,651

Included in cost of land and buildings is freehold land of £ 234,746 (2022 - £ 234,746 ) which is not depreciated.

SUPA ROOFING & POWER TOOLS LIMITED (REGISTERED NUMBER: 01029710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 36,975
DEPRECIATION
At 1 January 2023 9,245
Charge for year 6,933
At 31 December 2023 16,178
NET BOOK VALUE
At 31 December 2023 20,797
At 31 December 2022 27,730

5. STOCKS
2023 2022
£    £   
Stocks 673,160 546,594

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 536,097 556,816
Invoice Discount Finance 40,128 76,390
Directors' current accounts 85,603 -
Prepayments 8,204 8,385
670,032 641,591

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Investments in buying groups 2,550 2,550

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,319 21,937
Hire purchase contracts 7,149 7,149
Trade creditors 251,795 204,505
Tax 149,788 129,784
Social security and other taxes 12,520 8,838
VAT 53,830 88,717
Directors' current accounts - 31,892
Accrued expenses 12,830 8,789
510,231 501,611

SUPA ROOFING & POWER TOOLS LIMITED (REGISTERED NUMBER: 01029710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 19,705 42,406
Hire purchase contracts 20,879 28,029
40,584 70,435

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 42,024 64,343
Hire purchase contracts 28,028 35,178
70,052 99,521

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr K E Simpson
Balance outstanding at start of year (1,156 ) (11,302 )
Amounts advanced 181,467 130,146
Amounts repaid (120,000 ) (120,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,311 (1,156 )

Mr C R Greenberry
Balance outstanding at start of year (30,736 ) (15,109 )
Amounts advanced 176,028 104,373
Amounts repaid (120,000 ) (120,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,292 (30,736 )

Loans are unsecured and repayable on demand. Interest is charged at 2.25% in the year on debit loan balances.

12. GOVERNMENT GUARANTEED LOAN

The bank loan of £27,500 is a COVID-19 Bounce Back Loan, guaranteed by the government. Term runs to September 2026.