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COMPANY REGISTRATION NUMBER: 10964297
Roofglaze Holdings Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Roofglaze Holdings Limited
Consolidated Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
1,866,448
1,910,997
Current assets
Stocks
328,757
273,370
Debtors
8
903,053
2,490,691
Cash at bank and in hand
295,883
450,242
------------
------------
1,527,693
3,214,303
Creditors: amounts falling due within one year
9
1,007,557
2,401,818
------------
------------
Net current assets
520,136
812,485
------------
------------
Total assets less current liabilities
2,386,584
2,723,482
Creditors: amounts falling due after more than one year
10
267,448
359,504
Provisions
Taxation including deferred tax
11
317,404
317,276
------------
------------
Net assets
1,801,732
2,046,702
------------
------------
Roofglaze Holdings Limited
Consolidated Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
202
202
Revaluation reserve
834,134
846,850
Profit and loss account
967,396
1,199,650
------------
------------
Shareholders funds
1,801,732
2,046,702
------------
------------
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 consolidated income statement 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 .
These financial statements were approved by the board of directors and authorised for issue on 23 December 2024 , and are signed on behalf of the board by:
R Cliffe
Director
Company registration number: 10964297
Roofglaze Holdings Limited
Company Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
1,704,301
1,721,225
Investments
7
100
302
------------
------------
1,704,401
1,721,527
Current assets
Debtors
8
668,556
727,625
Cash at bank and in hand
65,553
31,699
---------
---------
734,109
759,324
Creditors: amounts falling due within one year
9
404,540
257,693
---------
---------
Net current assets
329,569
501,631
------------
------------
Total assets less current liabilities
2,033,970
2,223,158
Creditors: amounts falling due after more than one year
10
202,219
283,715
Provisions
Taxation including deferred tax
11
282,068
269,984
------------
------------
Net assets
1,549,683
1,669,459
------------
------------
Roofglaze Holdings Limited
Company Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
202
202
Revaluation reserve
834,134
846,850
Profit and loss account
715,347
822,407
------------
------------
Shareholders funds
1,549,683
1,669,459
------------
------------
The profit for the financial year of the parent company was £ 267,940 (2023: £ 543,317 ).
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'.
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 .
These financial statements were approved by the board of directors and authorised for issue on 23 December 2024 , and are signed on behalf of the board by:
R Cliffe
Director
Company registration number: 10964297
Roofglaze Holdings Limited
Consolidated Statement of Changes in Equity
Year ended 31 March 2024
Called up share capital
Revaluation reserve
Profit and loss account
Total
£
£
£
£
At 1 April 2022
202
846,850
1,435,212
2,282,264
Profit for the year
234,438
234,438
----
---------
------------
------------
Total comprehensive income for the year
234,438
234,438
Dividends paid and payable
( 470,000)
( 470,000)
----
---------
------------
------------
Total investments by and distributions to owners
( 470,000)
( 470,000)
At 31 March 2023
202
846,850
1,199,650
2,046,702
Profit for the year
142,746
142,746
Other comprehensive income for the year:
Tax relating to components of other comprehensive income
( 12,716)
( 12,716)
----
---------
------------
------------
Total comprehensive income for the year
( 12,716)
142,746
130,030
Dividends paid and payable
( 375,000)
( 375,000)
----
----
---------
---------
Total investments by and distributions to owners
( 375,000)
( 375,000)
----
---------
---------
------------
At 31 March 2024
202
834,134
967,396
1,801,732
----
---------
---------
------------
Roofglaze Holdings Limited
Company Statement of Changes in Equity
Year ended 31 March 2024
Called up share capital
Revaluation reserve
Profit and loss account
Total
£
£
£
£
At 1 April 2022
202
846,850
749,090
1,596,142
Profit for the year
543,317
543,317
----
---------
---------
------------
Total comprehensive income for the year
543,317
543,317
Dividends paid and payable
( 470,000)
( 470,000)
----
---------
---------
------------
Total investments by and distributions to owners
( 470,000)
( 470,000)
At 31 March 2023
202
846,850
822,407
1,669,459
Profit for the year
267,940
267,940
Other comprehensive income for the year:
Tax relating to components of other comprehensive income
( 12,716)
( 12,716)
----
---------
---------
------------
Total comprehensive income for the year
( 12,716)
267,940
255,224
Dividends paid and payable
( 375,000)
( 375,000)
----
----
---------
---------
Total investments by and distributions to owners
( 375,000)
( 375,000)
----
---------
---------
------------
At 31 March 2024
202
834,134
715,347
1,549,683
----
---------
---------
------------
Roofglaze Holdings Limited
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 11 Howard Road, Eaton Socon, St Neots, Cambridgeshire, PE19 8ET.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. The company and group is small and is therefore taking advantage of the following disclosure exemptions available under paragraph 1.12 of FRS 102:- (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) No disclosure has been given for the aggregate remuneration of key management personnel.
Consolidation
The financial statements consolidate the financial statements of Roofglaze Holdings Limited Group and all of its subsidiary undertakings. The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not included its individual statement of comprehensive income.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have the most significant effect on the amounts recognised in the financial statements are as follows: Depreciation rates are based on the directors judgement of the useful life of the assets concerned. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: In respect of long term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that the expenses are recoverable.
Taxation
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 pay or recover 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 material 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.
Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold property
-
Buildings 2% straight line, Land 0%
Plant and machinery
-
20% straight line or 25% reducing balance
Motor Vehicles
-
25% reducing balance
Office equipment
-
25% straight line or 20%/25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Dividend income is accounted for when received.
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.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
The company makes contributions to defined contribution pension schemes for the benefit of certain directors and employees. The assets of the schemes are held separately from those of the company. The annual contributions are charged to the statement of income and retained earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 34 (2023: 53 ).
5. Intangible assets
Group and company
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
132
----
Amortisation
At 1 April 2023 and 31 March 2024
132
----
Carrying amount
At 1 April 2023 and 31 March 2024
----
At 31 March 2023
----
6. Tangible assets
Group
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
1,712,644
227,799
120,530
85,408
2,146,381
Additions
8,742
36,664
7,351
52,757
Disposals
( 17,561)
( 28,295)
(29,059)
( 74,915)
------------
---------
---------
--------
------------
At 31 March 2024
1,712,644
218,980
128,899
63,700
2,124,223
------------
---------
---------
--------
------------
Depreciation
At 1 April 2023
15,632
108,673
50,455
60,624
235,384
Charge for the year
15,162
30,452
22,692
7,809
76,115
Disposals
( 13,921)
( 16,358)
(23,445)
( 53,724)
------------
---------
---------
--------
------------
At 31 March 2024
30,794
125,204
56,789
44,988
257,775
------------
---------
---------
--------
------------
Carrying amount
At 31 March 2024
1,681,850
93,776
72,110
18,712
1,866,448
------------
---------
---------
--------
------------
At 31 March 2023
1,697,012
119,126
70,075
24,784
1,910,997
------------
---------
---------
--------
------------
Company
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
1,712,644
7,996
27,568
32,130
1,780,338
Additions
1,792
3,252
5,044
------------
-------
--------
--------
------------
At 31 March 2024
1,712,644
9,788
27,568
35,382
1,785,382
------------
-------
--------
--------
------------
Depreciation
At 1 April 2023
15,632
5,761
16,320
21,400
59,113
Charge for the year
15,162
580
3,414
2,812
21,968
------------
-------
--------
--------
------------
At 31 March 2024
30,794
6,341
19,734
24,212
81,081
------------
-------
--------
--------
------------
Carrying amount
At 31 March 2024
1,681,850
3,447
7,834
11,170
1,704,301
------------
-------
--------
--------
------------
At 31 March 2023
1,697,012
2,235
11,248
10,730
1,721,225
------------
-------
--------
--------
------------
Included within Freehold property for the company is land at a cost of £573,354 (2023 - £573,354) which is not depreciated.
Tangible assets held at valuation
In respect of tangible assets held at valuation, aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Group and company
Freehold property
£
At 31 March 2024
Aggregate cost
Aggregate depreciation
----
Carrying value
----
At 31 March 2023
Aggregate cost
573,354
Aggregate depreciation
(45,236)
---------
Carrying value
528,118
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Group
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
At 31 March 2024
76,002
58,549
2,783
137,334
--------
--------
-------
---------
At 31 March 2023
76,002
58,549
2,783
137,334
--------
--------
-------
---------
The company has no tangible assets held under finance lease or hire purchase agreements.
7. Investments
The group has no investments.
Company
Shares in group undertakings
£
Cost
At 1 April 2023
302
Disposals
( 202)
----
At 31 March 2024
100
----
Impairment
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
100
----
At 31 March 2023
302
----
Subsidiaries, associates and other investments
Details of the investments in which the parent company has an interest of 20% or more are as follows:
Class of share
Percentage of shares held
Subsidiary undertakings
Roofglaze Limited
Ordinary
100
Roofglaze Rooflights Limited
Ordinary
100
8. Debtors
Group
Company
2024
2023
2024
2023
£
£
£
£
Trade debtors
156,441
413,679
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1
111,643
Other debtors
746,611
2,077,012
668,556
615,982
---------
------------
---------
---------
903,053
2,490,691
668,556
727,625
---------
------------
---------
---------
9. Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans and overdrafts
80,624
78,716
80,624
78,716
Trade creditors
621,483
1,308,060
88,965
61,032
Amounts owed to group undertakings and undertakings in which the company has a participating interest
181,719
56,163
Social security and other taxes
70,995
96,021
34,593
45,129
Other creditors
234,455
919,021
18,639
16,653
------------
------------
---------
---------
1,007,557
2,401,818
404,540
257,693
------------
------------
---------
---------
The bank loan is secured by fixed and floating charges over the company and all the property and assets present and future.
Included within other creditors are hire purchase liabilities which are secured on the assets to which they relate.
10. Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans and overdrafts
202,219
283,715
202,219
283,715
Other creditors
65,229
75,789
---------
---------
---------
---------
267,448
359,504
202,219
283,715
---------
---------
---------
---------
The bank loan is secured by fixed and floating charges over the company and all the property and assets present and future.
Included within other creditors are hire purchase liabilities which are secured on the assets to which they relate.
11. Provisions
Group
Deferred tax (note 12)
£
At 1 April 2023
317,276
Additions
128
---------
At 31 March 2024
317,404
---------
Company
Deferred tax (note 12)
£
At 1 April 2023
269,984
Additions
12,084
---------
At 31 March 2024
282,068
---------
12. Deferred tax
The deferred tax included in the statement of financial position is as follows:
Group
Company
2024
2023
2024
2023
£
£
£
£
Included in provisions (note 11)
317,404
317,276
282,068
269,984
---------
---------
---------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
Group
Company
2024
2023
2024
2023
£
£
£
£
Accelerated capital allowances
39,360
51,947
4,024
4,655
Revaluation of tangible assets
278,044
265,329
278,044
265,329
---------
---------
---------
---------
317,404
317,276
282,068
269,984
---------
---------
---------
---------
13. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
Group
Company
2024
2023
2024
2023
£
£
£
£
Not later than 1 year
58,138
103,630
26,481
23,653
Later than 1 year and not later than 5 years
35,212
63,358
22,379
4,375
--------
---------
--------
--------
93,350
166,988
48,860
28,028
--------
---------
--------
--------
14. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company and its subsidiary undertakings: Director 1 owed the Group £92,366 at the beginning of the year. The company advanced a further loan of £22,376 to the director. At the end of the year the director owed the company £114,742. Director 2 owed the Group £103,965 at the beginning of the year. The company advanced a further loan of £29,843 to the director. At the end of the year the director owed the company£133,808.
15. Related party transactions
Group
The group has made a loan to RGL Contracts Limited, a company under common control. At the end of the year £320,000 (2023 - £320,000) is outstanding. The loan is interest free and repayable on demand.