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COMPANY REGISTRATION NUMBER: 12668887
Ramskill Roofing Ltd
Filleted Unaudited Financial Statements
Year ended
31 March 2024
Ramskill Roofing Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
3,092
4,122
Current assets
Stocks
7,500
Debtors
6
4,640
3,026
Cash at bank and in hand
28,416
30,862
--------
--------
40,556
33,888
Creditors: amounts falling due within one year
7
42,944
36,809
--------
--------
Net current liabilities
2,388
2,921
-------
-------
Total assets less current liabilities
704
1,201
Provisions
587
783
----
-------
Net assets
117
418
----
-------
Capital and reserves
Called up share capital
15
15
Profit and loss account
102
403
----
----
Shareholders funds
117
418
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ramskill Roofing Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 15 November 2024 , and are signed on behalf of the board by:
Mr C Ramskill
Mr D Ramskill
Director
Director
Mr P Ramskill
Director
Company registration number: 12668887
Ramskill Roofing Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Swan Lane, Goole, DN14 6WD, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Revenue is recognised on completion of the work undertaken.
(d) Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
(g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(h) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(i) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
(j) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
3,382
2,084
5,466
-------
-------
-------
Depreciation
At 1 April 2023
457
887
1,344
Charge for the year
731
299
1,030
-------
-------
-------
At 31 March 2024
1,188
1,186
2,374
-------
-------
-------
Carrying amount
At 31 March 2024
2,194
898
3,092
-------
-------
-------
At 31 March 2023
2,925
1,197
4,122
-------
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
727
1,878
Other debtors
3,913
1,148
-------
-------
4,640
3,026
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
13,317
6,736
Corporation tax
16,081
16,326
Social security and other taxes
9,827
13,258
Directors loan accounts
3,719
489
--------
--------
42,944
36,809
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Ramskill
574
20,922
( 20,372)
1,124
Mr D Ramskill
( 489)
20,922
( 24,152)
( 3,719)
Mr P Ramskill
574
20,922
( 20,372)
1,124
----
--------
--------
-------
659
62,766
( 64,896)
( 1,471)
----
--------
--------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Ramskill
( 100)
32,437
( 31,763)
574
Mr D Ramskill
( 100)
34,137
( 34,526)
( 489)
Mr P Ramskill
( 100)
32,437
( 31,763)
574
----
--------
--------
----
( 300)
99,011
( 98,052)
659
----
--------
--------
----
The overdrawn accounts were cleared by a dividend voted in November 2024.