2023-01-012023-12-312023-12-31falseNI635233DOHERTY ROOFING COMPANY 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DOHERTY ROOFING COMPANY LTD

Registered Number
NI635233
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 December 2023

DOHERTY ROOFING COMPANY LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Conor Doherty
Fergal Doherty
Gareth Doherty
Kevin Doherty
Kevin Oliver Doherty

Registered Address

Unit 1 19 Deerpark Road
Bellaghy
BT45 8LB

Registered Number

NI635233 (Northern Ireland)
DOHERTY ROOFING COMPANY LTD
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets39,90013,200
Tangible assets4149,07757,488
158,97770,688
Current assets
Stocks23,000-
Debtors738,620682,614
Cash at bank and on hand516,667258,115
1,278,287940,729
Creditors amounts falling due within one year(862,209)(594,943)
Net current assets (liabilities)416,078345,786
Total assets less current liabilities575,055416,474
Provisions for liabilities(10,923)(10,923)
Net assets564,132405,551
Capital and reserves
Called up share capital301300
Profit and loss account563,831405,251
Shareholders' funds564,132405,551
The financial statements were approved and authorised for issue by the Board of Directors on 26 September 2024, and are signed on its behalf by:
Fergal Doherty
Director
Gareth Doherty
Director
Kevin Doherty
Director

Registered Company No. NI635233
DOHERTY ROOFING COMPANY LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Vehicles25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year76
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 2333,00033,000
At 31 December 2333,00033,000
Amortisation and impairment
At 01 January 2319,80019,800
Charge for year3,3003,300
At 31 December 2323,10023,100
Net book value
At 31 December 239,9009,900
At 31 December 2213,20013,200
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 2331,257118,2494,336153,842
Additions-116,238665116,903
At 31 December 2331,257234,4875,001270,745
Depreciation and impairment
At 01 January 237,14286,6572,55596,354
Charge for year3,61721,40529225,314
At 31 December 2310,759108,0622,847121,668
Net book value
At 31 December 2320,498126,4252,154149,077
At 31 December 2224,11531,5921,78157,488