REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements for the Year Ended 30 April 2024 |
for |
Owens Building & Roofing Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements for the Year Ended 30 April 2024 |
for |
Owens Building & Roofing Limited |
Owens Building & Roofing Limited (Registered number: 08478172) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 4 |
Profit and Loss | 7 |
Other Comprehensive Income | 8 |
Balance Sheet | 9 |
Statement of Changes in Equity | 10 |
Cash Flow Statement | 11 |
Notes to the Cash Flow Statement | 12 |
Notes to the Financial Statements | 13 |
Owens Building & Roofing Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants |
Statutory Auditors |
Glaslyn, Ffordd y Parc, Parc Menai, |
Bangor, |
Gwynedd |
LL57 4FE |
Owens Building & Roofing Limited (Registered number: 08478172) |
Strategic Report |
for the Year Ended 30 April 2024 |
INTRODUCTION |
Owens Building & Roofing Limited is a construction company based in North Wales, offering a complete project solution to various sectors across the United Kingdom. |
GOALS |
1. Increase repeat business from existing clients by 15% |
2. Implementing sustainable practices to minimize environmental impact and comply with regulations. |
3. To offer market leading customer service. |
REVIEW OF BUSINESS |
The company's main goal for 2024 is to continue to develop the business as one of North Wales's leading multi-disciplined contractors, delivering strong results for its shareholders and demonstrating strong commercial performance. |
The company has successfully continued to secure new contracts and safely and efficiently delivered existing contracts. With the management team showing that, as with previous years the company's success and the wellbeing of its staff is born from continual investment in the right people and innovation. |
DEVELOPMENT AND PERFORMANCE AT YEAR END |
The growth of the business is not only evidenced by the increase in turnover but the increase in staff numbers to support and service the business operation. The company is established within the North Wales Construction sector and further opportunities are becoming more available through the sound reputation the business has created. Along with successful recruitment we intend to expand upon what has been achieved to date with movement into new sectors. |
The company aims to enhance employees learning and personnel development in order to attract and maintain good quality personnel. |
POSITION AT YEAR END AND KEY FINANCIALS |
The company ended the financial year in a strong position with turnover growing from £13,880,077 to £16,894,413. At the same time net assets grew from £3,417,324 to £4,372,263. |
PRINCIPAL RISKS AND UNCERTAINTIES |
Key risk for the business is the rising cost of inflation within the supply chain, workforce, and economy. Whilst inflation will directly impact on the company's operating costs it will also affect our clint's budgets that are equally affected and could see clients reducing their portfolio of opportunities. Outside of inflation there is a shortage of skilled labour within the construction sector with many of the trades retiring, and not enough skilled labour joining the industry. |
ON BEHALF OF THE BOARD: |
Owens Building & Roofing Limited (Registered number: 08478172) |
Report of the Directors |
for the Year Ended 30 April 2024 |
The directors present their report with the financial statements of the company for the year ended 30 April 2024. |
DIVIDENDS |
A dividend of £823.40 per share was paid. |
The total distribution of dividends for the year ended 30th April, 2024 will be £82,340. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Williams Denton Cyf, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Owens Building & Roofing Limited |
Opinion |
We have audited the financial statements of Owens Building & Roofing Limited (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended; |
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- have been prepared in accordance with the requirements of the Companies Act 2006. |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- the Report of the Directors has been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Owens Building & Roofing Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- the financial statements are not in agreement with the accounting records and returns; or |
- certain disclosures of directors' remuneration specified by law are not made; or |
- we have not received all the information and explanations we require for our audit; or |
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page nil, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
Report of the Independent Auditors to the Members of |
Owens Building & Roofing Limited |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Certified Accountants |
Statutory Auditors |
Glaslyn, Ffordd y Parc, Parc Menai, |
Bangor, |
Gwynedd |
LL57 4FE |
Owens Building & Roofing Limited (Registered number: 08478172) |
Profit and Loss |
for the Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
as restated |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,464,094 | 1,839,678 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
1,470,990 | 1,844,624 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
Owens Building & Roofing Limited (Registered number: 08478172) |
Other Comprehensive Income |
for the Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
as restated |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Note |
Prior year adjustment | 8 | ( |
) |
TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT |
266,280 |
Owens Building & Roofing Limited (Registered number: 08478172) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Stocks | 10 |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
13 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 17 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 18 |
Retained earnings | 19 | 3,417,324 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Owens Building & Roofing Limited (Registered number: 08478172) |
Statement of Changes in Equity |
for the Year Ended 30 April 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 May 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 April 2023 | 4,188,324 |
Prior year adjustment | - | ( |
) | ( |
) |
As restated |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 April 2024 | 100 | 4,372,264 | 4,372,364 |
Owens Building & Roofing Limited (Registered number: 08478172) |
Cash Flow Statement |
for the Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
as restated |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest paid | ( |
) | ( |
) |
Interest element of hire purchase payments paid |
( |
) |
( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
New loans in year |
Loan repayments in year | ( |
) | ( |
) |
Capital repayments in year | ( |
) |
Amount introduced by directors | 82,766 | 103,774 |
Amount withdrawn by directors | (144,257 | ) | (172,599 | ) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
354,439 |
Cash and cash equivalents at end of year | 2 | 2,764,587 | 1,724,375 |
Owens Building & Roofing Limited (Registered number: 08478172) |
Notes to the Cash Flow Statement |
for the Year Ended 30 April 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Profit before taxation |
Depreciation charges |
(Profit)/loss on disposal of fixed assets | ( |
) |
Finance costs | 41,217 | 46,677 |
Finance income | (1,271 | ) | - |
1,735,276 | 2,131,957 |
Decrease/(increase) in stocks | ( |
) |
(Increase)/decrease in trade and other debtors | ( |
) |
Increase/(decrease) in trade and other creditors | ( |
) |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 April 2024 |
30.4.24 | 1.5.23 |
£ | £ |
Cash and cash equivalents | 2,764,587 | 1,724,375 |
Year ended 30 April 2023 |
30.4.23 | 1.5.22 |
as restated |
£ | £ |
Cash and cash equivalents | 1,724,375 | 354,439 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.5.23 | Cash flow | At 30.4.24 |
£ | £ | £ |
Net cash |
Cash at bank | 1,724,375 | 1,040,212 | 2,764,587 |
1,724,375 | 2,764,587 |
Debt |
Finance leases | (493,023 | ) | 27,590 | (465,433 | ) |
Debts falling due within 1 year | (16,053 | ) | 842 | (15,211 | ) |
Debts falling due after 1 year | (151,708 | ) | 14,876 | (136,832 | ) |
(660,784 | ) | 43,308 | (617,476 | ) |
Total | 1,063,591 | 1,083,520 | 2,147,111 |
Owens Building & Roofing Limited (Registered number: 08478172) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Owens Building & Roofing Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced work done and uninvoiced amounts due on contracts by reference to the stage of completion, excluding value added tax. |
Tangible fixed assets |
Plant & machinery - 20% Reducing balance |
Motor vehicles - 20% Reducing balance |
Computer equipment - 20% Reducing balance |
Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment. |
Stocks |
Stocks and work in progress 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 Profit and Loss, 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. |
Owens Building & Roofing Limited (Registered number: 08478172) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 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. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
30.4.24 | 30.4.23 |
as restated |
Staff |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Directors' remuneration |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Hire of plant and machinery |
Depreciation - owned assets |
Depreciation - assets on hire purchase contracts |
(Profit)/loss on disposal of fixed assets | ( |
) |
Auditors' remuneration |
Owens Building & Roofing Limited (Registered number: 08478172) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Bank loan interest |
PAYE late payment penalty |
Hire purchase |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
7. | DIVIDENDS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Ordinary shares of £1 each |
Interim |
8. | PRIOR YEAR ADJUSTMENT |
As previously reported At 30 April 2023 adjustment As restated |
Profit and loss reserve £4,188,323 £771,000 £3,417,323 |
The prior year accounts and reserves have been restated to accountant for the following: |
Overstatement of debtors £1,243,259 |
Overstatement of trade creditors and accruals £129,660 |
Correction of depreciation charge £17,261 |
Correction to VAT balance £134,476 |
Revision to the taxation charge £190,862 |
Owens Building & Roofing Limited (Registered number: 08478172) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Owens Building & Roofing Limited (Registered number: 08478172) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
9. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Transfer to ownership | (167,500 | ) | - | (167,500 | ) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Transfer to ownership | (81,740 | ) | - | (81,740 | ) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
10. | STOCKS |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Stocks |
Amounts recoverable on |
contracts |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 46,976 | - |
Owens Building & Roofing Limited (Registered number: 08478172) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Bank loans and overdrafts (see note 14) |
Hire purchase contracts (see note 15) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 267,726 | 7,611 |
Other creditors |
Directors' current accounts | - | 14,515 |
Accrued expenses |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Bank loans (see note 14) |
Hire purchase contracts (see note 15) |
14. | LOANS |
An analysis of the maturity of loans is given below: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
15. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Owens Building & Roofing Limited (Registered number: 08478172) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
16. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Bank loans |
Details of the securities included on these balances can be found on the Companies House website. |
17. | PROVISIONS FOR LIABILITIES |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Deferred tax | 352,348 | 220,084 |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Provided during year |
Balance at 30 April 2024 |
The above mentioned provision and movement in the year represents the timing differences between the depreciation and capital allowance claims that have not been reversed at the balance sheet date. |
18. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
value: | as restated |
£ | £ |
Ordinary | £1 | 100 | 100 |
19. | RESERVES |
Retained |
earnings |
£ |
At 1 May 2023 |
Prior year adjustment | ( |
) |
3,417,323 |
Profit for the year |
Dividends | ( |
) |
At 30 April 2024 |
Owens Building & Roofing Limited (Registered number: 08478172) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
20. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023: |
30.4.24 | 30.4.23 |
as restated |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The directors' loan accounts were in credit throughout the year. |
21. | RELATED PARTY DISCLOSURES |
An amount of £200,000 is owed from Mon Mix Cyf, a company in which Mr R P Jones & Mr L J Boggan are also directors. |