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Registration number: 07850602

Merriman Roofing Contractors Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Merriman Roofing Contractors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Merriman Roofing Contractors Limited

Company Information

Directors

Mr P W McDonnell

Mr M C Merriman

Registered office

Unit 1 Gabwell Business Centre
Quadrant Way
Hardwicke
Gloucester
GL2 2JH

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

Merriman Roofing Contractors Limited

(Registration number: 07850602)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

178,203

74,868

Debtors

5

130,136

144,136

 

308,339

219,004

Current assets

 

Debtors

5

441,527

328,602

Cash at bank and in hand

 

760,304

884,097

 

1,201,831

1,212,699

Creditors: Amounts falling due within one year

6

(347,144)

(208,360)

Net current assets

 

854,687

1,004,339

Net assets

 

1,163,026

1,223,343

Capital and reserves

 

Called up share capital

50,000

50,000

Retained earnings

1,113,026

1,173,343

Shareholders' funds

 

1,163,026

1,223,343

 

Merriman Roofing Contractors Limited

(Registration number: 07850602)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Profit and Loss Account.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

.........................................
Mr P W McDonnell
Director

 

Merriman Roofing Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Unit 1 Gabwell Business Centre
Quadrant Way
Hardwicke
Gloucester
GL2 2JH
England

The principal place of business is:
Unit 2 Malvern Business Centre
Betony Road
Enigma Business Park
Malvern
WR14 1GS
England

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 presentational currency of these financial statements is pounding sterling and rounded to the nearest whole number.

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.

 

Merriman Roofing Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Fixtures & Fittings

25% on cost

Motor Vehicles

25% on cost

Plant & Machinery

25% on cost

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.

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.

 

Merriman Roofing Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 directors) during the year, was 6 (2023 - 6).

 

Merriman Roofing Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

56,806

238,887

62,328

358,021

Additions

-

127,439

3,719

131,158

Disposals

-

(95,360)

-

(95,360)

At 30 April 2024

56,806

270,966

66,047

393,819

Depreciation

At 1 May 2023

44,739

211,348

27,066

283,153

Charge for the year

11,562

15,165

1,096

27,823

Eliminated on disposal

-

(95,360)

-

(95,360)

At 30 April 2024

56,301

131,153

28,162

215,616

Carrying amount

At 30 April 2024

505

139,813

37,885

178,203

At 30 April 2023

12,067

27,539

35,262

74,868

5

Debtors

Current

2024
£

2023
£

Trade debtors

161,923

79,299

Prepayments

7,112

4,608

Other debtors

272,492

244,695

 

441,527

328,602

 

Merriman Roofing Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Non-current

2024
£

2023
£

Other debtors

130,136

144,136

 

130,136

144,136

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

21,056

51,522

Taxation and social security

109,450

83,219

Accruals and deferred income

205,957

61,821

Other creditors

10,681

11,798

347,144

208,360

7

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Transactions

(105)

(66,512)

66,550

(67)

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Transactions

(126)

(43,978)

44,000

(105)

 

Summary of transactions with other related parties

Merriman Roofing Contractors Limited has chosen the FRS102 1A exemption to not disclose the related party transactions.