2023-11-012024-10-312024-10-31false03862665THE ROOFING PRODUCTS COMPANY 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THE ROOFING PRODUCTS COMPANY LTD

Registered Number
03862665
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

THE ROOFING PRODUCTS COMPANY LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

HARVEY, Paul Michael

Registered Address

Chislehurst Business Centre
1 Bromley Lane
Chislehurst
BR7 6LH

Registered Number

03862665 (England and Wales)
THE ROOFING PRODUCTS COMPANY LTD
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets35050
Tangible assets41212
6262
Current assets
Stocks514,25014,250
Debtors19,42617,814
Cash at bank and on hand4,0861,298
37,76233,362
Creditors amounts falling due within one year6(237,016)(234,558)
Net current assets (liabilities)(199,254)(201,196)
Total assets less current liabilities(199,192)(201,134)
Creditors amounts falling due after one year7(63,639)(72,126)
Net assets(262,831)(273,260)
Capital and reserves
Called up share capital5,0005,000
Profit and loss account(267,831)(278,260)
Shareholders' funds(262,831)(273,260)
The financial statements were approved and authorised for issue by the Director on 11 February 2025, and are signed on its behalf by:
HARVEY, Paul Michael
Director
Registered Company No. 03862665
THE ROOFING PRODUCTS COMPANY LTD
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 November 235050
At 31 October 245050
Net book value
At 31 October 245050
At 31 October 235050
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 November 239,9669,966
At 31 October 249,9669,966
Depreciation and impairment
At 01 November 239,9549,954
At 31 October 249,9549,954
Net book value
At 31 October 241212
At 31 October 231212
5.Stocks

2024

2023

££
Other stocks14,25014,250
Total14,25014,250
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables194,044195,090
Bank borrowings and overdrafts9,6034,646
Amounts owed to related parties24,01026,789
Taxation and social security9,3591,910
Other creditors-6,123
Total237,016234,558
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts63,63972,126
Total63,63972,126