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Registration number: 14637107

C & S Roofing Specialists Limited

Annual Report and Unaudited Financial Statements

for the Period from 3 February 2023 to 29 February 2024

 

C & S Roofing Specialists Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

 

C & S Roofing Specialists Limited

Company Information

Director

Mr Clifford Smith

Registered office

590 Green Lanes
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

C & S Roofing Specialists Limited

Director's Report for the Period from 3 February 2023 to 29 February 2024

The director presents his report and the financial statements for the period from 3 February 2023 to 29 February 2024.

Director of the company

The director who held office during the period was as follows:

Mr Clifford Smith (appointed 3 February 2023)

Principal activity

The principal activity of the company is Roofing activities

Small companies provision statement

This report has 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.

Approved and authorised by the director on 17 October 2024
 

.........................................
Mr Clifford Smith
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
C & S Roofing Specialists Limited
for the Period Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of C & S Roofing Specialists Limited for the period ended 29 February 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of C & S Roofing Specialists Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of C & S Roofing Specialists Limited and state those matters that we have agreed to state to the Board of Directors of C & S Roofing Specialists Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C & S Roofing Specialists Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that C & S Roofing Specialists Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of C & S Roofing Specialists Limited. You consider that C & S Roofing Specialists Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of C & S Roofing Specialists Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

 

C & S Roofing Specialists Limited

Profit and Loss Account for the Period from 3 February 2023 to 29 February 2024

Note

2024
£

Turnover

 

980,222

Cost of sales

 

(139,354)

Gross profit

 

840,868

Administrative expenses

 

(157,982)

Operating profit

 

682,886

Interest payable and similar expenses

 

(70)

Profit before tax

4

682,816

Tax on profit

 

(159,110)

Profit for the financial period

 

523,706

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

C & S Roofing Specialists Limited

Statement of Comprehensive Income for the Period from 3 February 2023 to 29 February 2024

2024
£

Profit for the period

523,706

Total comprehensive income for the period

523,706

 

C & S Roofing Specialists Limited

(Registration number: 14637107)
Balance Sheet as at 29 February 2024

Note

2024
£

Fixed assets

 

Tangible assets

5

36,929

Current assets

 

Cash at bank and in hand

 

765,209

Creditors: Amounts falling due within one year

7

(320,332)

Net current assets

 

444,877

Net assets

 

481,806

Capital and reserves

 

Called up share capital

8

100

Retained earnings

481,706

Shareholders' funds

 

481,806

For the financial period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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.

Approved and authorised by the director on 17 October 2024
 

.........................................
Mr Clifford Smith
Director

 

C & S Roofing Specialists Limited

Statement of Changes in Equity for the Period from 3 February 2023 to 29 February 2024

Share capital
£

Retained earnings
£

Total
£

Profit for the period

-

523,706

523,706

Dividends

-

(42,000)

(42,000)

New share capital subscribed

100

-

100

At 29 February 2024

100

481,706

481,806

 

C & S Roofing Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

1

General information

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

The address of its registered office is:
590 Green Lanes
London
N13 5RY

These financial statements were authorised for issue by the director on 17 October 2024.

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 current 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.

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.

 

C & S Roofing Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

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

Motor Vehicles

20% reducing balance method

Office equipment

25% reducing balance method

Plant and machinery

20% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

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.

 

C & S Roofing Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 4.

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

Depreciation expense

9,310

 

C & S Roofing Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

1,244

40,745

4,250

46,239

At 29 February 2024

1,244

40,745

4,250

46,239

Depreciation

Charge for the period

311

8,149

850

9,310

At 29 February 2024

311

8,149

850

9,310

Carrying amount

At 29 February 2024

933

32,596

3,400

36,929

6

Debtors

Current

2024
£

 

-

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

9

51,653

Trade creditors

 

60,513

Taxation and social security

 

205,335

Accruals and deferred income

 

2,500

Other creditors

 

331

 

320,332

8

Share capital

Allotted, called up and fully paid shares

 

C & S Roofing Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

2024

No.

£

Ordinary shares of £1 each

100

100

   

9

Loans and borrowings

Current loans and borrowings

2024
£

Other borrowings

51,653

10

Dividends

2024

£

Interim dividend of £420.00 per ordinary share

42,000

 

11

Related party transactions

Key management personnel

Included in loans and borrowings less tha one year is an amount of £51,653 owed to the directors of the company.

 

C & S Roofing Specialists Limited

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

Remuneration

7,580