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REGISTERED NUMBER: 08447778 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THURSTON ROOFING LIMITED

THURSTON ROOFING LIMITED (REGISTERED NUMBER: 08447778)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THURSTON ROOFING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D M Brown
D J Thurston
K Brown
E C Thurston





REGISTERED OFFICE: 10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA





BUSINESS ADDRESS: 12 Burgess Close
Swavesey
Cambridgeshire
CB24 4AP





REGISTERED NUMBER: 08447778 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

THURSTON ROOFING LIMITED (REGISTERED NUMBER: 08447778)

BALANCE SHEET
31 MARCH 2024

2024 2023
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 5 346,319 359,990

CURRENT ASSETS
Debtors 6 96,155 120,713
Cash at bank and in hand 332,533 154,860
428,688 275,573
CREDITORS
Amounts falling due within one year 7 (446,941 ) (270,270 )
NET CURRENT (LIABILITIES)/ASSETS (18,253 ) 5,303
TOTAL ASSETS LESS CURRENT LIABILITIES 328,066 365,293

CREDITORS
Amounts falling due after more than one
year

8

(142,212

)

(254,090

)

PROVISIONS FOR LIABILITIES 10 (40,810 ) (39,367 )
NET ASSETS 145,044 71,836

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 144,944 71,736
SHAREHOLDERS' FUNDS 145,044 71,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

THURSTON ROOFING LIMITED (REGISTERED NUMBER: 08447778)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:




D J Thurston - Director



D M Brown - Director


THURSTON ROOFING LIMITED (REGISTERED NUMBER: 08447778)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Thurston Roofing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue comprises income derived from building services. It is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax, and other similar charges.

For contracts extending over multiple accounting periods, revenue is recognised based on an appropriate measure of the stage of completion. If the stage of completion cannot be reliably determined, the entire amount of revenue is deferred to the subsequent accounting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


THURSTON ROOFING LIMITED (REGISTERED NUMBER: 08447778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 5,540 488,640 7,315 501,495
Additions 2,078 140,390 410 142,878
Disposals - (72,346 ) - (72,346 )
At 31 March 2024 7,618 556,684 7,725 572,027
DEPRECIATION
At 1 April 2023 2,328 134,794 4,383 141,505
Charge for year 1,087 94,353 821 96,261
Eliminated on disposal - (12,058 ) - (12,058 )
At 31 March 2024 3,415 217,089 5,204 225,708
NET BOOK VALUE
At 31 March 2024 4,203 339,595 2,521 346,319
At 31 March 2023 3,212 353,846 2,932 359,990

THURSTON ROOFING LIMITED (REGISTERED NUMBER: 08447778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 438,640
Disposals (72,346 )
At 31 March 2024 366,294
DEPRECIATION
At 1 April 2023 114,994
Charge for year 65,840
Eliminated on disposal (12,058 )
At 31 March 2024 168,776
NET BOOK VALUE
At 31 March 2024 197,518
At 31 March 2023 323,646

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 89,883 96,627
Other debtors 6,272 24,086
96,155 120,713

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts 50,546 65,223
Trade creditors 47,658 14,309
Taxation and social security 329,761 153,496
Other creditors 8,328 26,594
446,941 270,270

THURSTON ROOFING LIMITED (REGISTERED NUMBER: 08447778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans 13,468 22,577
Hire purchase contracts 128,744 231,513
142,212 254,090

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Hire purchase contracts 179,290 -

Amounts owing on hire purchase are secured against the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax 40,810 39,367

Deferred
tax
£   
Balance at 1 April 2023
Prior year adjustment 39,367
As restated 39,367
Provided during year 1,443
Balance at 31 March 2024 40,810

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
100 Ordinary £1 100 100

THURSTON ROOFING LIMITED (REGISTERED NUMBER: 08447778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
as restated
£    £   
D M Brown and K Brown
Balance outstanding at start of year - -
Amounts advanced 4,918 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,918 -

13. RELATED PARTY DISCLOSURES

At the balance sheet date £8,328 (2023: £26,594) was owed to the directors. The amount bears no interest, is repayable on demand and included within creditors due in less than one year.

During the year £4,918 (2023: £nil) was advanced to the directors. The amount bears no interest, is repayable within nine months of the balance sheet date and included within debtors due in less than one year.

14. DIRECTORS PENSIONS

During the period, the company made contributions to a defined contribution pension scheme on behalf of 4 (2023: 4) directors.

15. FRS102 TRANSITION

The company transitioned to preparing its accounts under FRS 102 (Section 1A). The only adjustment required during the transition was to account for deferred tax.

The adjustments to the 2023 accounts were as follows:

-The opening reserves for 2023 were reduced by £29,141.
-A deferred tax charge of £10,226 was recognised in the profit and loss account for 2023.
-A deferred tax liability of £39,367 was recognised in the statement of financial position.

The adjustments to the 2024 opening position was as follows:

-The reserves were reduced by £39,367, matching the deferred tax liability of £39,367 recognised in the statement of financial position.