Registered number
09330889
PRIORY ROOFING LIMITED
Filleted Accounts
31 March 2024
PRIORY ROOFING LIMITED
Registered number: 09330889
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 136,205 134,804
Current assets
Stocks 1,150 950
Debtors 4 63,194 38,849
Cash at bank and in hand 8,317 7,329
72,661 47,128
Creditors: amounts falling due within one year 5 (147,062) (105,322)
Net current liabilities (74,401) (58,194)
Total assets less current liabilities 61,804 76,610
Creditors: amounts falling due after more than one year 6 (35,327) (50,492)
Provisions for liabilities (25,879) (25,613)
Net assets 598 505
Capital and reserves
Called up share capital 100 100
Profit and loss account 498 405
Shareholder's funds 598 505
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 member has 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 J J Atkinson
Director
Approved by the board on 19 December 2024
PRIORY ROOFING LIMITED
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 receivable. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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 over its expected useful life, as follows:
Plant and machinery 20% per annum reducing balance basis
Motor vehicles 25% per annum reducing balance basis
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. 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.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 93,688 79,174 172,862
Additions 31,900 - 31,900
At 31 March 2024 125,588 79,174 204,762
Depreciation
At 1 April 2023 22,007 16,051 38,058
Charge for the year 14,717 15,782 30,499
At 31 March 2024 36,724 31,833 68,557
Net book value
At 31 March 2024 88,864 47,341 136,205
At 31 March 2023 71,681 63,123 134,804
4 Debtors 2024 2023
£ £
Trade debtors and prepayments 43,194 38,849
Other debtors 20,000 -
63,194 38,849
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,069 4,411
Obligations under finance lease and hire purchase contracts 11,438 11,438
Trade creditors and accruals 23,979 31,275
Corporation tax 17,888 8,243
Other taxes and social security costs 88,768 47,115
Other creditors - director's loan account 920 2,840
147,062 105,322
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,445 12,172
Obligations under finance lease and hire purchase contracts 26,882 38,320
35,327 50,492
7 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
8 Contingent liabilities
There were no contingent liabilities in existence at the year end.
9 Controlling party
The director, Mr J J Atkinson, owns 100% of the issued ordinary share capital of the company.
10 Other information
PRIORY ROOFING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
24 Oswald Road
Chorlton Cum Hardy
Manchester
M21 9LP
PRIORY ROOFING LIMITED 09330889 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 Mr J J Atkinson No description of principal activity 09330889 2022-04-01 2023-03-31 09330889 core:WithinOneYear 2023-03-31 09330889 core:AfterOneYear 2023-03-31 09330889 core:ShareCapital 2023-03-31 09330889 core:RetainedEarningsAccumulatedLosses 2023-03-31 09330889 2023-04-01 2024-03-31 09330889 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09330889 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09330889 bus:Director40 2023-04-01 2024-03-31 09330889 1 2023-04-01 2024-03-31 09330889 2 2023-04-01 2024-03-31 09330889 core:PlantMachinery 2023-04-01 2024-03-31 09330889 core:Vehicles 2023-04-01 2024-03-31 09330889 countries:England 2023-04-01 2024-03-31 09330889 bus:FRS102 2023-04-01 2024-03-31 09330889 bus:FilletedAccounts 2023-04-01 2024-03-31 09330889 2024-03-31 09330889 core:WithinOneYear 2024-03-31 09330889 core:AfterOneYear 2024-03-31 09330889 core:ShareCapital 2024-03-31 09330889 core:RetainedEarningsAccumulatedLosses 2024-03-31 09330889 core:PlantMachinery 2024-03-31 09330889 core:Vehicles 2024-03-31 09330889 2023-03-31 09330889 core:PlantMachinery 2023-03-31 09330889 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure