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REGISTERED NUMBER: 05701883 (England and Wales)









Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Premium Roofing Supplies Limited

Premium Roofing Supplies Limited (Registered number: 05701883)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Premium Roofing Supplies Limited (Registered number: 05701883)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 87,159 25,648

CURRENT ASSETS
Stocks 1,176,895 1,201,324
Debtors 5 721,416 781,734
Cash at bank and in hand 2,112,517 1,757,355
4,010,828 3,740,413
CREDITORS
Amounts falling due within one year 6 (863,290 ) (782,757 )
NET CURRENT ASSETS 3,147,538 2,957,656
TOTAL ASSETS LESS CURRENT LIABILITIES 3,234,697 2,983,304

PROVISIONS FOR LIABILITIES (21,414 ) (4,525 )
NET ASSETS 3,213,283 2,978,779

CAPITAL AND RESERVES
Called up share capital 500 500
Capital redemption reserve 366 366
Retained earnings 3,212,417 2,977,913
SHAREHOLDERS' FUNDS 3,213,283 2,978,779

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:




Mr D Woods - Director


Premium Roofing Supplies Limited (Registered number: 05701883)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Premium Roofing Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05701883

Registered office: Unit 6, Guinness Road Trading Estate
Guinness Road
Trafford Park
Manchester
M17 1SB

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised when the company obtains the right to consideration.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures, fittings and equipment - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Premium Roofing Supplies Limited (Registered number: 05701883)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Leasehold Plant and and
improvements machinery equipment
£    £    £   
COST
At 1 March 2023 19,800 25,754 30,028
Additions - - -
Disposals - - -
At 29 February 2024 19,800 25,754 30,028
DEPRECIATION
At 1 March 2023 11,880 21,599 28,395
Charge for year 1,980 1,039 544
Eliminated on disposal - - -
At 29 February 2024 13,860 22,638 28,939
NET BOOK VALUE
At 29 February 2024 5,940 3,116 1,089
At 28 February 2023 7,920 4,155 1,633

Premium Roofing Supplies Limited (Registered number: 05701883)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 74,777 899 151,258
Additions 99,997 - 99,997
Disposals (65,695 ) - (65,695 )
At 29 February 2024 109,079 899 185,560
DEPRECIATION
At 1 March 2023 63,436 300 125,610
Charge for year 25,537 200 29,300
Eliminated on disposal (56,509 ) - (56,509 )
At 29 February 2024 32,464 500 98,401
NET BOOK VALUE
At 29 February 2024 76,615 399 87,159
At 28 February 2023 11,341 599 25,648

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 685,525 745,835
Other debtors 35,891 35,899
721,416 781,734

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 446,749 409,294
Taxation and social security 348,448 364,049
Other creditors 68,093 9,414
863,290 782,757

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29.2.24 28.2.23
£    £   
Within one year 89,180 89,180
Between one and five years 178,360 267,540
267,540 356,720