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Registered number: 04050807
Roothings Builders & Decorators Limited
Financial Statements
For The Year Ended 31 August 2024
JDL Business Services Limited
Accountants and Consultants
304 High Road
Benfleet
Essex
SS7 5HB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04050807
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,194 26,218
31,194 26,218
CURRENT ASSETS
Stocks 5 88,086 189,023
Debtors 6 57,027 19,193
Cash at bank and in hand 43,354 48,926
188,467 257,142
Creditors: Amounts Falling Due Within One Year 7 (88,297 ) (83,183 )
NET CURRENT ASSETS (LIABILITIES) 100,170 173,959
TOTAL ASSETS LESS CURRENT LIABILITIES 131,364 200,177
Creditors: Amounts Falling Due After More Than One Year 8 (8,294 ) (18,280 )
NET ASSETS 123,070 181,897
CAPITAL AND RESERVES
Called up share capital 9 201 201
Profit and Loss Account 122,869 181,696
SHAREHOLDERS' FUNDS 123,070 181,897
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martin O'Neill
Director
14/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Roothings Builders & Decorators Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04050807 . The registered office is 304 High Road, Benfleet, Essex, SS7 5HB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 6,900 73,266 2,234 5,849 88,249
Additions - 18,575 - - 18,575
Disposals - (28,401 ) - - (28,401 )
As at 31 August 2024 6,900 63,440 2,234 5,849 78,423
Depreciation
As at 1 September 2023 5,302 48,924 2,181 5,624 62,031
Provided during the period 240 9,874 8 56 10,178
Disposals - (24,980 ) - - (24,980 )
As at 31 August 2024 5,542 33,818 2,189 5,680 47,229
Net Book Value
As at 31 August 2024 1,358 29,622 45 169 31,194
As at 1 September 2023 1,598 24,342 53 225 26,218
5. Stocks
2024 2023
£ £
Stock 88,086 189,023
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,533 2,470
Amounts recoverable on contracts 9,525 9,738
Prepayments and accrued income 3,782 4,291
VAT 19,187 2,694
57,027 19,193
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 42,047 38,028
Corporation tax - (3,033 )
Other taxes and social security 4,766 5,206
Net wages 2,400 5,800
CIS Tax control (Current liabilities - creditors < 1 year) 6,374 4,312
Bounce back loan (Current liabilities - creditors < 1 year) 10,648 10,648
Accruals and deferred income 4,025 4,185
Directors' loan accounts 18,037 18,037
88,297 83,183
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce back loan (Creditors > 1 year) 8,294 18,280
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 201 201
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