IRIS Accounts Production v24.3.2.46 08478172 Board of Directors Board of Directors 1.5.23 30.4.24 30.4.24 Medium entities building contractors true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 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REGISTERED NUMBER: 08478172 (England and Wales)















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: Mr R P Jones
Mr L J Boggan





REGISTERED OFFICE: Bryn Cefni Industrial Estate
Llangefni
Anglesey
LL77 7XA





REGISTERED NUMBER: 08478172 (England and Wales)





AUDITORS: Williams Denton Cyf
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:





Mr R P Jones - Director


30 January 2025

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.

Mr R P Jones
Mr L J Boggan

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:





Mr R P Jones - Director


30 January 2025

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.




Martin Barrett (Senior Statutory Auditor)
for and on behalf of Williams Denton Cyf
Chartered Certified Accountants
Statutory Auditors
Glaslyn, Ffordd y Parc, Parc Menai,
Bangor,
Gwynedd
LL57 4FE

30 January 2025

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 16,894,413 13,880,077

Cost of sales 14,460,950 11,072,385
GROSS PROFIT 2,433,463 2,807,692

Administrative expenses 969,369 968,014
1,464,094 1,839,678

Other operating income 5,625 4,946
OPERATING PROFIT 4 1,469,719 1,844,624

Interest receivable and similar income 1,271 -
1,470,990 1,844,624

Interest payable and similar expenses 5 41,217 46,677
PROFIT BEFORE TAXATION 1,429,773 1,797,947

Tax on profit 6 392,493 278,118
PROFIT FOR THE FINANCIAL YEAR 1,037,280 1,519,829

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 1,037,280 1,519,829


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,037,280

1,519,829
Note
Prior year adjustment 8 (771,000 )
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 2,100,033 1,599,192

CURRENT ASSETS
Stocks 10 1,249,025 1,345,911
Debtors 11 1,781,459 886,294
Cash at bank 2,764,587 1,724,375
5,795,071 3,956,580
CREDITORS
Amounts falling due within one year 12 2,673,838 1,461,749
NET CURRENT ASSETS 3,121,233 2,494,831
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,221,266

4,094,023

CREDITORS
Amounts falling due after more than one
year

13

(496,555

)

(456,515

)

PROVISIONS FOR LIABILITIES 17 (352,348 ) (220,084 )
NET ASSETS 4,372,363 3,417,424

CAPITAL AND RESERVES
Called up share capital 18 100 100
Retained earnings 19 4,372,263 3,417,324
SHAREHOLDERS' FUNDS 4,372,363 3,417,424

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:




Mr R P Jones - Director



Mr L J Boggan - Director


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 100 1,979,835 1,979,935

Changes in equity
Dividends - (82,340 ) (82,340 )
Total comprehensive income - 2,290,829 2,290,829
Balance at 30 April 2023 100 4,188,324 4,188,424
Prior year adjustment - (771,000 ) (771,000 )
As restated 100 3,417,324 3,417,424

Changes in equity
Dividends - (82,340 ) (82,340 )
Total comprehensive income - 1,037,280 1,037,280
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 2,464,873 1,799,137
Interest paid (11,898 ) (18,063 )
Interest element of hire purchase payments
paid

(29,319

)

(28,614

)
Tax paid (431,178 ) (19,020 )
Net cash from operating activities 1,992,478 1,733,440

Cash flows from investing activities
Purchase of tangible fixed assets (1,011,271 ) (752,307 )
Sale of tangible fixed assets 244,873 182,002
Interest received 1,271 -
Net cash from investing activities (765,127 ) (570,305 )

Cash flows from financing activities
New loans in year - 85,055
Loan repayments in year (15,718 ) (42,530 )
Capital repayments in year (27,590 ) 315,441
Amount introduced by directors 82,766 103,774
Amount withdrawn by directors (144,257 ) (172,599 )
Equity dividends paid (82,340 ) (82,340 )
Net cash from financing activities (187,139 ) 206,801

Increase in cash and cash equivalents 1,040,212 1,369,936
Cash and cash equivalents at beginning of
year

2

1,724,375

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 1,429,773 1,797,947
Depreciation charges 384,933 251,921
(Profit)/loss on disposal of fixed assets (119,376 ) 35,412
Finance costs 41,217 46,677
Finance income (1,271 ) -
1,735,276 2,131,957
Decrease/(increase) in stocks 96,886 (595,319 )
(Increase)/decrease in trade and other debtors (848,189 ) 412,250
Increase/(decrease) in trade and other creditors 1,480,900 (149,751 )
Cash generated from operations 2,464,873 1,799,137

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 1,040,212 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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
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 & 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 1,997,470 1,689,218
Social security costs 42,531 31,212
Other pension costs 174,769 131,090
2,214,770 1,851,520

The average number of employees during the year was as follows:
30.4.24 30.4.23
as restated

Staff 55 50

30.4.24 30.4.23
as restated
£    £   
Directors' remuneration 18,192 18,191

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.4.24 30.4.23
as restated
£    £   
Hire of plant and machinery 730,137 495,250
Depreciation - owned assets 244,441 111,590
Depreciation - assets on hire purchase contracts 140,492 140,331
(Profit)/loss on disposal of fixed assets (119,376 ) 35,412
Auditors' remuneration 8,000 -

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 11,898 17,820
PAYE late payment penalty - 243
Hire purchase 29,319 28,614
41,217 46,677

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 260,229 182,887

Deferred tax 132,264 95,231
Tax on profit 392,493 278,118

7. DIVIDENDS
30.4.24 30.4.23
as restated
£    £   
Ordinary shares of £1 each
Interim 82,340 82,340

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 445,719 1,339,881 13,372
Additions 97,389 824,435 5,587
Disposals - (248,631 ) -
At 30 April 2024 543,108 1,915,685 18,959
DEPRECIATION
At 1 May 2023 - 619,884 4,250
Charge for year - 288,539 2,942
Eliminated on disposal - (130,557 ) -
At 30 April 2024 - 777,866 7,192
NET BOOK VALUE
At 30 April 2024 543,108 1,137,819 11,767
At 30 April 2023 445,719 719,997 9,122

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 683,215 16,601 2,498,788
Additions 79,314 4,546 1,011,271
Disposals (16,290 ) - (264,921 )
At 30 April 2024 746,239 21,147 3,245,138
DEPRECIATION
At 1 May 2023 267,454 8,008 899,596
Charge for year 90,460 2,992 384,933
Eliminated on disposal (8,867 ) - (139,424 )
At 30 April 2024 349,047 11,000 1,145,105
NET BOOK VALUE
At 30 April 2024 397,192 10,147 2,100,033
At 30 April 2023 415,761 8,593 1,599,192

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 459,050 323,575 782,625
Additions 226,900 - 226,900
Transfer to ownership (167,500 ) - (167,500 )
At 30 April 2024 518,450 323,575 842,025
DEPRECIATION
At 1 May 2023 140,050 81,253 221,303
Charge for year 92,028 48,464 140,492
Transfer to ownership (81,740 ) - (81,740 )
At 30 April 2024 150,338 129,717 280,055
NET BOOK VALUE
At 30 April 2024 368,112 193,858 561,970
At 30 April 2023 319,000 242,322 561,322

10. STOCKS
30.4.24 30.4.23
as restated
£    £   
Stocks 285,971 10,000
Amounts recoverable on
contracts 963,054 1,335,911
1,249,025 1,345,911

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
as restated
£    £   
Trade debtors 1,534,483 886,294
Other debtors 200,000 -
Directors' current accounts 46,976 -
1,781,459 886,294

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) 15,211 16,053
Hire purchase contracts (see note 15) 105,710 188,216
Trade creditors 2,018,313 923,099
Tax 69,273 240,222
Social security and other taxes 81,205 67,549
VAT 267,726 7,611
Other creditors 78,601 -
Directors' current accounts - 14,515
Accrued expenses 37,799 4,484
2,673,838 1,461,749

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
as restated
£    £   
Bank loans (see note 14) 136,832 151,708
Hire purchase contracts (see note 15) 359,723 304,807
496,555 456,515

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 15,211 16,053

Amounts falling due between two and five years:
Bank loans - 2-5 years 136,832 151,708

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 105,710 188,216
Between one and five years 359,723 304,807
465,433 493,023

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 152,043 167,761

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 220,084
Provided during year 132,264
Balance at 30 April 2024 352,348

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
£    £   
100 Ordinary £1 100 100

19. RESERVES
Retained
earnings
£   

At 1 May 2023 4,188,323
Prior year adjustment (771,000 )
3,417,323
Profit for the year 1,037,280
Dividends (82,340 )
At 30 April 2024 4,372,263

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
£    £   
Mr R P Jones
Balance outstanding at start of year - -
Amounts advanced 27,794 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,794 -

Mr L J Boggan
Balance outstanding at start of year - -
Amounts advanced 19,182 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,182 -

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.