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REGISTERED NUMBER: 08614777 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Meads Roofing Limited

Meads Roofing Limited (Registered number: 08614777)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Meads Roofing Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: O Hall





REGISTERED OFFICE: 64 South Road
Horndean
Waterlooville
Hampshire
PO8 0EP





REGISTERED NUMBER: 08614777 (England and Wales)





ACCOUNTANTS: AM-PM Accounting Solutions Limited
Building 6000
Langstone Technology Park
Langstone Road
Havant
Hampshire
PO9 1SA

Meads Roofing Limited (Registered number: 08614777)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 78,895 61,710

CURRENT ASSETS
Stocks 500 400
Debtors 5 60,074 57,066
Cash at bank 119,529 13,056
180,103 70,522
CREDITORS
Amounts falling due within one year 6 93,675 40,138
NET CURRENT ASSETS 86,428 30,384
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,323

92,094

CREDITORS
Amounts falling due after more than one year 7 (62,024 ) (56,918 )

PROVISIONS FOR LIABILITIES (29,458 ) (12,786 )
NET ASSETS 73,841 22,390

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 73,738 22,287
SHAREHOLDERS' FUNDS 73,841 22,390

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

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

The director acknowledges his 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.

Meads Roofing Limited (Registered number: 08614777)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 October 2024 and were signed by:





O Hall - Director


Meads Roofing Limited (Registered number: 08614777)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Meads 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Meads Roofing Limited (Registered number: 08614777)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 7,458 1,050 121,792 5,521 135,821
Additions 2,078 591 40,339 815 43,823
At 31 July 2024 9,536 1,641 162,131 6,336 179,644
DEPRECIATION
At 1 August 2023 5,209 263 65,485 3,154 74,111
Charge for year 1,082 344 24,162 1,050 26,638
At 31 July 2024 6,291 607 89,647 4,204 100,749
NET BOOK VALUE
At 31 July 2024 3,245 1,034 72,484 2,132 78,895
At 31 July 2023 2,249 787 56,307 2,367 61,710

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 32,010
At 31 July 2024 32,010
DEPRECIATION
Charge for year 8,003
At 31 July 2024 8,003
NET BOOK VALUE
At 31 July 2024 24,007

Meads Roofing Limited (Registered number: 08614777)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 60,074 54,959
Other debtors - 2,107
60,074 57,066

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 14,844 9,402
Trade creditors 12,919 5,392
Taxation and social security 61,416 17,538
Other creditors 4,496 7,806
93,675 40,138

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 11,838 17,087
Hire purchase contracts 50,186 39,831
62,024 56,918

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
O Hall
Balance outstanding at start of year (3,164 ) (335 )
Amounts advanced 115,297 (6,154 )
Amounts repaid (112,344 ) 3,325
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (211 ) (3,164 )

This loan was not overdrawn and was provided interest free and repayable on demand.

Included in other creditors is a balance totalling £496.00 (2023: 0.00) owed to Mr A and Mrs J Hall, shareholders and parents of the director Mr O Hall. This loan was not overdrawn and was provided interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The controlling party is O Hall.