Registered number
08422648
Pro Roofing Solutions Ltd
Filleted Accounts
31 March 2024
Pro Roofing Solutions Ltd
Registered number: 08422648
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,198 15,847
Current assets
Stocks 25,547 5,000
Debtors 4 157,379 144,448
Cash at bank and in hand 256,671 232,989
439,597 382,437
Creditors: amounts falling due within one year 5 (140,417) (120,837)
Net current assets 299,180 261,600
Total assets less current liabilities 316,378 277,447
Creditors: amounts falling due after more than one year 6 (12,074) (26,955)
Provisions for liabilities (4,300) (3,011)
Net assets 300,004 247,481
Capital and reserves
Called up share capital 105 100
Profit and loss account 299,899 247,381
Shareholders' funds 300,004 247,481
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Moret
Director
Approved by the board on 29 October 2024
Pro Roofing Solutions Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 61,310
Additions 13,136
Disposals (665)
At 31 March 2024 73,781
Depreciation
At 1 April 2023 45,463
Charge for the year 11,519
On disposals (399)
At 31 March 2024 56,583
Net book value
At 31 March 2024 17,198
At 31 March 2023 15,847
4 Debtors 2024 2023
£ £
Trade debtors 99,009 60,924
Other debtors 58,370 83,524
157,379 144,448
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 14,881 14,881
Trade creditors 9,614 14,846
Taxation and social security costs 115,922 91,110
140,417 120,837
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,074 26,955
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr D Moret
Directors loan account 76,287 195,558 (227,303) 44,542
76,287 195,558 (227,303) 44,542
8 Related party transactions
Included within other debtors is the amount of £44,542 (2023 - £76,287) owed to the company. This amount is undated, unsecured and repayable upon demand.
9 Controlling party
The director Mr D Moret has control of the company by virtue of his shareholding.
# Other information
Pro Roofing Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
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