Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseNo description of principal activity1514truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03884264 2023-03-01 2024-02-29 03884264 2022-03-01 2023-02-28 03884264 2024-02-29 03884264 2023-02-28 03884264 c:Director2 2023-03-01 2024-02-29 03884264 d:PlantMachinery 2023-03-01 2024-02-29 03884264 d:PlantMachinery 2024-02-29 03884264 d:PlantMachinery 2023-02-28 03884264 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03884264 d:MotorVehicles 2023-03-01 2024-02-29 03884264 d:MotorVehicles 2024-02-29 03884264 d:MotorVehicles 2023-02-28 03884264 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03884264 d:FurnitureFittings 2023-03-01 2024-02-29 03884264 d:FurnitureFittings 2024-02-29 03884264 d:FurnitureFittings 2023-02-28 03884264 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03884264 d:OfficeEquipment 2023-03-01 2024-02-29 03884264 d:OfficeEquipment 2024-02-29 03884264 d:OfficeEquipment 2023-02-28 03884264 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03884264 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03884264 d:CurrentFinancialInstruments 2024-02-29 03884264 d:CurrentFinancialInstruments 2023-02-28 03884264 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 03884264 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03884264 d:ShareCapital 2024-02-29 03884264 d:ShareCapital 2023-02-28 03884264 d:RetainedEarningsAccumulatedLosses 2024-02-29 03884264 d:RetainedEarningsAccumulatedLosses 2023-02-28 03884264 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 03884264 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 03884264 c:FRS102 2023-03-01 2024-02-29 03884264 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03884264 c:FullAccounts 2023-03-01 2024-02-29 03884264 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03884264 2 2023-03-01 2024-02-29 03884264 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Registered number: 03884264









SURE ROOFS SYSTEMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SURE ROOFS SYSTEMS LIMITED
REGISTERED NUMBER: 03884264

BALANCE SHEET
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
146,006
124,220

  
146,006
124,220

Current assets
  

Stocks
  
139,361
168,917

Debtors: amounts falling due within one year
 5 
1,776,757
1,791,705

Cash at bank and in hand
  
746,206
759,121

  
2,662,324
2,719,743

Creditors: amounts falling due within one year
 6 
(555,500)
(747,518)

Net current assets
  
 
 
2,106,824
 
 
1,972,225

Total assets less current liabilities
  
2,252,830
2,096,445

Provisions for liabilities
  

Deferred tax
 7 
(36,502)
(31,055)

  
 
 
(36,502)
 
 
(31,055)

Net assets
  
2,216,328
2,065,390


Capital and reserves
  

Called up share capital 
  
100
2

Profit and loss account
  
2,216,228
2,065,388

  
2,216,328
2,065,390


Page 1

 
SURE ROOFS SYSTEMS LIMITED
REGISTERED NUMBER: 03884264

BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 November 2024.




................................................
R Collier
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Sure Roofs Systems Limited is a private company, limited by shares, incorporated in England and Wales. The company registration number is 03884264 and the registered office is 30 Whiffler Road, Norwich, England, NR3 2AZ.
The financial statements are prepared in sterling which is the functional currency of the company and
rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors consider that the resources available to the company will be sufficient for it to be able to continue as a going concern for the medium term especially with a reduction in overheads and
administrative costs and this is their intention.  The financial statements do not contain any
adjustments that would be required if the company were not able to continue as a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
15%
Reducing balance
Office equipment
-
15%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 14).

Page 6

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
120,901
204,352
29,160
30,199
384,612


Additions
-
43,095
1,717
462
45,274



At 29 February 2024

120,901
247,447
30,877
30,661
429,886



Depreciation


At 1 March 2023
53,575
166,054
17,157
23,606
260,392


Charge for the year on owned assets
10,100
10,473
1,908
1,007
23,488



At 29 February 2024

63,675
176,527
19,065
24,613
283,880



Net book value



At 29 February 2024
57,226
70,920
11,812
6,048
146,006



At 28 February 2023
67,326
38,298
12,003
6,593
124,220


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
926,565
1,205,481

Other debtors
693,954
486,897

Prepayments and accrued income
156,238
99,327

1,776,757
1,791,705


Included within other debtors is an amount of £132,684 (2023: £194,693) which is available to draw from HSBC Invoice Finance (UK) Limited against the factored debts collected.

Page 7

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
450,665
544,643

Corporation tax
62,400
129,676

Other taxation and social security
33,381
41,543

Other creditors
3,218
14,303

Accruals and deferred income
5,836
17,353

555,500
747,518



7.


Deferred taxation






2024


£






At beginning of year
(31,055)


Charged to profit or loss
(5,447)



At end of year
(36,502)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(36,502)
(31,055)

(36,502)
(31,055)


8.


Pension commitments

The Company operates a definted contributions pension scheme. The assets of the scheme are held separately from those of the Company in an indepdently administered fund. The pension cost charge represens contributions payable by the Company to the fund amounted to £74,146 (2023 - £40,721). Contributions totalling £1,736 (2023 - £706) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
SURE ROOFS SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Related party transactions

At 29 February 2024, a loan existed between the company and a related business under common control. The outstanding debtor is £191,734 (2023 - £154,159). The loan was interest free and payable on demand.
At 29 February 2024, a loan existed between the company and a related company under common control, Cirello Ltd. The amount owed by the related company was £307,699 (2023 - £95,543). The loan was interest free and payable on demand.


10.


Transactions with directors

During the year, the directors operated a loan account. At 1 March 2023 the loan account was in a credit position of £6,131. During the year, directors withdrew funds totalling £26,376 and introduced funds totalling £3,187, leaving a debit balance of £17,058 at 29 February 2024.
The loan was unsecured, interest free and repayable on demand.







Page 9