DJH Roofing Ltd 4648944 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the erection of roof coverings and frames and general construction Digita Accounts Production Advanced 6.30.9574.0 true true true 4648944 2023-02-01 2024-01-31 4648944 2024-01-31 4648944 bus:Director1 1 2024-01-31 4648944 bus:OrdinaryShareClass1 2024-01-31 4648944 core:FinanceLeases core:CurrentFinancialInstruments 2024-01-31 4648944 core:FinanceLeases core:Non-currentFinancialInstruments 2024-01-31 4648944 core:CurrentFinancialInstruments 2024-01-31 4648944 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 4648944 core:Non-currentFinancialInstruments 2024-01-31 4648944 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 4648944 core:FurnitureFittings 2024-01-31 4648944 core:MotorVehicles 2024-01-31 4648944 core:PlantMachinery 2024-01-31 4648944 bus:SmallEntities 2023-02-01 2024-01-31 4648944 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 4648944 bus:FilletedAccounts 2023-02-01 2024-01-31 4648944 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 4648944 bus:RegisteredOffice 2023-02-01 2024-01-31 4648944 bus:CompanySecretary1 2023-02-01 2024-01-31 4648944 bus:Director1 2023-02-01 2024-01-31 4648944 bus:Director1 1 2023-02-01 2024-01-31 4648944 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 4648944 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-02-01 2024-01-31 4648944 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 4648944 core:FurnitureFittings 2023-02-01 2024-01-31 4648944 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 4648944 core:MotorVehicles 2023-02-01 2024-01-31 4648944 core:PlantMachinery 2023-02-01 2024-01-31 4648944 core:ParentEntities 2023-02-01 2024-01-31 4648944 1 2023-02-01 2024-01-31 4648944 countries:EnglandWales 2023-02-01 2024-01-31 4648944 2023-01-31 4648944 bus:Director1 1 2023-01-31 4648944 core:FurnitureFittings 2023-01-31 4648944 core:MotorVehicles 2023-01-31 4648944 core:PlantMachinery 2023-01-31 4648944 2022-02-01 2023-01-31 4648944 2023-01-31 4648944 bus:Director1 1 2023-01-31 4648944 bus:OrdinaryShareClass1 2023-01-31 4648944 core:FinanceLeases core:CurrentFinancialInstruments 2023-01-31 4648944 core:FinanceLeases core:Non-currentFinancialInstruments 2023-01-31 4648944 core:CurrentFinancialInstruments 2023-01-31 4648944 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 4648944 core:Non-currentFinancialInstruments 2023-01-31 4648944 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 4648944 core:FurnitureFittings 2023-01-31 4648944 core:MotorVehicles 2023-01-31 4648944 core:PlantMachinery 2023-01-31 4648944 bus:Director1 1 2022-02-01 2023-01-31 4648944 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-02-01 2023-01-31 4648944 bus:Director1 1 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 4648944

DJH Roofing Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

DJH Roofing Ltd

Contents

Company Information

1

Profit and Loss Account

2

Balance Sheet

3

Notes to the Financial Statements

4 to 11

 

DJH Roofing Ltd

Company Information

Director

Mr Paul Williams

Company secretary

Mrs Deborah Tracey Williams

Registered office

Redwoods
2 Clyst Works
Clyst Road, Topsham
Exeter
Devon
EX3 0DB

Accountants

Redwoods
Chartered Certified Accountants
2 Clyst Works
Clyst Road
Topsham
Exeter
Devon
EX3 0DB

 

DJH Roofing Ltd

Profit and Loss Account for the Year Ended 31 January 2024

Note

2024
£

2023
£

Turnover

 

3,798,661

2,804,650

Cost of sales

 

(2,874,670)

(2,047,717)

Gross profit

 

923,991

756,933

Administrative expenses

 

(487,775)

(403,763)

Other operating income

 

5,000

5,000

Operating profit

 

441,216

358,170

Other interest receivable and similar income

 

3,129

1,624

Interest payable and similar expenses

 

(17,464)

(9,016)

   

(14,335)

(7,392)

Profit before tax

426,881

350,778

Tax on profit

 

(115,944)

(58,426)

Profit for the financial year

 

310,937

292,352

The above results were derived from continuing operations.

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

 

DJH Roofing Ltd

(Registration number: 4648944)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

300,054

222,506

Current assets

 

Stocks

5

15,000

20,000

Debtors

6

435,364

524,009

Cash at bank and in hand

 

298,285

283,132

 

748,649

827,141

Creditors: Amounts falling due within one year

7

(375,314)

(444,456)

Net current assets

 

373,335

382,685

Total assets less current liabilities

 

673,389

605,191

Creditors: Amounts falling due after more than one year

7

(249,290)

(220,423)

Provisions for liabilities

(73,218)

(40,824)

Net assets

 

350,881

343,944

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

350,871

343,934

Shareholders' funds

 

350,881

343,944

For the financial year ending 31 January 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 year 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 October 2024
 

.........................................
Mr Paul Williams
Director

 

DJH Roofing Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
Redwoods
2 Clyst Works
Clyst Road, Topsham
Exeter
Devon
EX3 0DB

The principal place of business is:
2 Knowle Business Units
Silverton Road
Matford Park
Exeter
Devon
EX2 8HJ

These financial statements were authorised for issue by the director on 10 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.

The accounts are presented in £ sterling and are rounded to £1.

Going concern

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

 

DJH Roofing Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Judgements

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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 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 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

Plant and machinery

15% reducing balance

Fixtures, fittings and equipment

15% reducing balance

Motor vehicle

25% reducing balance

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.

 

DJH Roofing Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

 

DJH Roofing Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

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.

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other accounts receivable and payable and loans from banks/other third parties.
 Recognition and measurement
Debt instruments like loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payable or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. In the case of a non current liability not at a market rate of interest, the financial liability is measured initially and subsequently at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows, discounted at the assets original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 22 (2023 - 18).

 

DJH Roofing Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

48,263

41,427

347,769

437,459

Additions

10,174

10,013

175,106

195,293

Disposals

-

-

(36,495)

(36,495)

At 31 January 2024

58,437

51,440

486,380

596,257

Depreciation

At 1 February 2023

24,041

23,789

167,123

214,953

Charge for the year

5,159

4,148

82,441

91,748

Eliminated on disposal

-

-

(10,498)

(10,498)

At 31 January 2024

29,200

27,937

239,066

296,203

Carrying amount

At 31 January 2024

29,237

23,503

247,314

300,054

At 31 January 2023

24,222

17,638

180,646

222,506

5

Stocks

2024
£

2023
£

Other inventories

15,000

20,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

355,038

371,360

Amounts owed by related parties

11

2,762

6,496

Prepayments

 

37,791

10,474

Other debtors

 

39,773

135,679

   

435,364

524,009

 

DJH Roofing Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

92,674

82,478

Trade creditors

 

130,432

276,128

Taxation and social security

 

105,948

62,667

Accruals and deferred income

 

38,393

17,140

Other creditors

 

7,867

6,043

 

375,314

444,456

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

249,290

220,423

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

63,120

106,614

Finance lease liabilities

49,582

35,071

Hire purchase contracts

136,588

78,738

249,290

220,423

 

DJH Roofing Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

43,092

47,407

Finance lease liabilities

49,582

35,071

92,674

82,478

 

DJH Roofing Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £304.00 (2023 - £9,000.00) per each Ordinary

304,000

90,000

 

 

11

Related party transactions

Transactions with the director

2024

At 1 February 2023
£

Repayments by director
£

At 31 January 2024
£

Mr Paul Williams

During the year the company provided a loan to the director. Interest has been charged at 2% on this loan which is repayable on demand.

63,465

(39,021)

24,444

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

Mr Paul Williams

During the year the company provided a loan to the director. Interest has been charged at 2% on this loan which is repayable on demand.

26,013

135,948

(98,496)

63,465

Summary of transactions with parent

CGA Holdings Ltd
 A dividend has been paid to the parent company during the year of £304,000 (2023 - £90,000).

Rent has been paid to CGA Holdings Ltd of £24,000 (2023 - £24,000). The company has also hired vehicles from CGA Holdings Ltd and paid £11,749, (2023 - £10,875).

An intercompany loan accounts between the companies is showing £2,762 being owed from CGA Holdings Ltd at 31 January 2024. (2023 - £6,496).

 

12

Parent and ultimate parent undertaking

The company's immediate parent is CGA Holdings Ltd, incorporated in England and Wales.