Paul Rosevear Roofing & Builders Ltd 07952620 false 2023-04-06 2024-04-05 2024-04-05 The principal activity of the company is roofing and building. Digita Accounts Production Advanced 6.30.9574.0 true true 07952620 2023-04-06 2024-04-05 07952620 2024-04-05 07952620 bus:Director2 1 2024-04-05 07952620 2 2024-04-05 07952620 core:CurrentFinancialInstruments 2024-04-05 07952620 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-05 07952620 core:Non-currentFinancialInstruments 2024-04-05 07952620 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-05 07952620 core:MotorVehicles 2024-04-05 07952620 core:PlantMachinery 2024-04-05 07952620 bus:SmallEntities 2023-04-06 2024-04-05 07952620 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 07952620 bus:FilletedAccounts 2023-04-06 2024-04-05 07952620 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 07952620 bus:RegisteredOffice 2023-04-06 2024-04-05 07952620 bus:Director2 2023-04-06 2024-04-05 07952620 bus:Director2 1 2023-04-06 2024-04-05 07952620 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 07952620 core:MotorVehicles 2023-04-06 2024-04-05 07952620 core:PlantMachinery 2023-04-06 2024-04-05 07952620 core:Vehicles 2023-04-06 2024-04-05 07952620 countries:England 2023-04-06 2024-04-05 07952620 2023-04-05 07952620 bus:Director2 1 2023-04-05 07952620 core:MotorVehicles 2023-04-05 07952620 core:PlantMachinery 2023-04-05 07952620 2022-04-06 2023-04-05 07952620 2023-04-05 07952620 bus:Director2 1 2023-04-05 07952620 2 2023-04-05 07952620 core:CurrentFinancialInstruments 2023-04-05 07952620 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 07952620 core:Non-currentFinancialInstruments 2023-04-05 07952620 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-05 07952620 core:MotorVehicles 2023-04-05 07952620 core:PlantMachinery 2023-04-05 07952620 bus:Director2 1 2022-04-06 2023-04-05 07952620 bus:Director2 1 2022-04-05 iso4217:GBP xbrli:pure

Registration number: 07952620

Paul Rosevear Roofing & Builders Ltd

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2024

 

Paul Rosevear Roofing & Builders Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Paul Rosevear Roofing & Builders Ltd

(Registration number: 07952620)
Statement of Financial Position as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,630

21,592

Current assets

 

Debtors

5

7,737

14,398

Cash at bank and in hand

 

-

1

 

7,737

14,399

Creditors: Amounts falling due within one year

6

(19,727)

(14,697)

Net current liabilities

 

(11,990)

(298)

Total assets less current liabilities

 

4,640

21,294

Creditors: Amounts falling due after more than one year

6

(6,296)

(12,037)

Provisions for liabilities

(3,160)

(4,102)

Net (liabilities)/assets

 

(4,816)

5,155

Capital and reserves

 

Called up share capital

4

4

Profit and loss account

(4,820)

5,151

Shareholders' (deficit)/funds

 

(4,816)

5,155

For the financial year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Paul Rosevear Roofing & Builders Ltd

(Registration number: 07952620)
Statement of Financial Position as at 5 April 2024 (continued)

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 8 October 2024 and signed on its behalf by:
 


Paul Rosevear
Director

 

Paul Rosevear Roofing & Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

Principal activity

The principal activity of the company is roofing and building.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Paul Rosevear Roofing & Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 statement of financial position 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 calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

20% straight line

 

Paul Rosevear Roofing & Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

2

Accounting policies (continued)

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

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 statement of comprehensive income 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Paul Rosevear Roofing & Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 6 April 2023

6,154

28,442

34,596

Additions

1,007

-

1,007

Disposals

-

(4,740)

(4,740)

At 5 April 2024

7,161

23,702

30,863

Depreciation

At 6 April 2023

5,628

7,376

13,004

Charge for the year

385

2,740

3,125

Eliminated on disposal

-

(1,896)

(1,896)

At 5 April 2024

6,013

8,220

14,233

Carrying amount

At 5 April 2024

1,148

15,482

16,630

At 5 April 2023

526

21,066

21,592

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

782

3,955

Other debtors

 

6,729

8,083

Income tax asset

226

2,360

 

7,737

14,398

 

Paul Rosevear Roofing & Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

9,802

5,087

Taxation and social security

 

2,436

2,060

Accruals and deferred income

 

2,184

2,413

Other creditors

 

5,305

5,137

 

19,727

14,697

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

3,223

5,276

Other non-current financial liabilities

 

3,073

6,761

 

6,296

12,037

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Paul Rosevear Roofing & Builders Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

3,223

5,276

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

7,691

3,027

Other borrowings

2,111

2,060

9,802

5,087

9

Related party transactions

Transactions with directors

2024

At 6 April 2023
£

Advances to director
£

Repayments by director
£

At 5 April 2024
£

Paul Rosevear

Directors

8,085

6,605

(7,962)

6,728

         
       

 

2023

At 6 April 2022
£

Advances to director
£

Repayments by director
£

At 5 April 2023
£

Paul Rosevear

Directors

7,110

9,875

(8,900)

8,085

Other transactions with directors

The directors loan is interest free and repayable on demand.