Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 true No description of principal activity 1 June 2023 31 May 2024 31 May 2024 01054153 Mr J P Barrett Mr A I Barrett Mr J Foley Mrs J P Barrett Mr J P Barrett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01054153 2023-05-31 01054153 2024-05-31 01054153 2023-06-01 2024-05-31 01054153 frs-core:CurrentFinancialInstruments 2024-05-31 01054153 frs-core:Non-currentFinancialInstruments 2024-05-31 01054153 frs-core:BetweenOneFiveYears 2024-05-31 01054153 frs-core:ComputerEquipment 2023-06-01 2024-05-31 01054153 frs-core:FurnitureFittings 2024-05-31 01054153 frs-core:FurnitureFittings 2023-06-01 2024-05-31 01054153 frs-core:FurnitureFittings 2023-05-31 01054153 frs-core:MotorVehicles 2024-05-31 01054153 frs-core:MotorVehicles 2023-06-01 2024-05-31 01054153 frs-core:MotorVehicles 2023-05-31 01054153 frs-core:WithinOneYear 2024-05-31 01054153 frs-core:ShareCapital 2024-05-31 01054153 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 01054153 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 01054153 frs-bus:FullAccounts 2023-06-01 2024-05-31 01054153 frs-bus:SmallEntities 2023-06-01 2024-05-31 01054153 frs-bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 01054153 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 01054153 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-06-01 2024-05-31 01054153 frs-bus:Director1 2023-06-01 2024-05-31 01054153 frs-bus:Director2 2023-06-01 2024-05-31 01054153 frs-bus:Director3 2023-06-01 2024-05-31 01054153 frs-bus:Director4 2023-06-01 2024-05-31 01054153 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 01054153 frs-countries:EnglandWales 2023-06-01 2024-05-31 01054153 2022-05-31 01054153 2023-05-31 01054153 2022-06-01 2023-05-31 01054153 frs-core:CurrentFinancialInstruments 2023-05-31 01054153 frs-core:Non-currentFinancialInstruments 2023-05-31 01054153 frs-core:BetweenOneFiveYears 2023-05-31 01054153 frs-core:WithinOneYear 2023-05-31 01054153 frs-core:ShareCapital 2023-05-31 01054153 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 01054153
Ifield & Barrett (Roofing) Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 May 2024
CKS Accountancy Limited
Directors' Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Accountants' Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—10
Page 1
Company Information
Directors Mr J P Barrett
Mr A I Barrett
Mr J Foley
Mrs J P Barrett
Secretary Mr J P Barrett
Company Number 01054153
Registered Office Unit 14 Rippleside Commercial Estate
Ripple Road
Barking
Essex
IG11 0RJ
Accountants CKS Accountancy Limited
1349/1353 London Road
Leigh-On Sea
Essex
SS9 2AB
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Directors' Report
The directors present their report and the financial statements for the year ended 31 May 2024.
Directors
The directors who held office during the year were as follows:
Mr J P Barrett
Mr A I Barrett
Mr J Foley
Mrs J P Barrett
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr J P Barrett
Director
22/01/2025
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Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Ifield & Barrett (Roofing) Limited for the year ended 31 May 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ifield & Barrett (Roofing) Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Ifield & Barrett (Roofing) Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ifield & Barrett (Roofing) Limited and state those matters that we have agreed to state to the directors of Ifield & Barrett (Roofing) Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ifield & Barrett (Roofing) Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Ifield & Barrett (Roofing) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Ifield & Barrett (Roofing) Limited . You consider that Ifield & Barrett (Roofing) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Ifield & Barrett (Roofing) Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
22/01/2025
CKS Accountancy Limited
1349/1353 London Road
Leigh-On Sea
Essex
SS9 2AB
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 5,563,482 5,422,226
Cost of sales (3,924,697 ) (4,008,356 )
GROSS PROFIT 1,638,785 1,413,870
Administrative expenses (1,040,269 ) (955,717 )
Other operating income - 6,163
OPERATING PROFIT 598,516 464,316
Loss on disposal of fixed assets - (1,916 )
Other interest receivable and similar income 8,408 1,115
Interest payable and similar charges (6,968 ) (4,067 )
PROFIT BEFORE TAXATION 599,956 459,448
Tax on Profit (229,680 ) (87,921 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 370,276 371,527
The notes on pages 7 to 10 form part of these financial statements.
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Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 88,367 115,965
88,367 115,965
CURRENT ASSETS
Stocks 5 112,979 109,183
Debtors 6 510,040 537,251
Cash at bank and in hand 905,327 671,617
1,528,346 1,318,051
Creditors: Amounts Falling Due Within One Year 7 (594,398 ) (439,122 )
NET CURRENT ASSETS (LIABILITIES) 933,948 878,929
TOTAL ASSETS LESS CURRENT LIABILITIES 1,022,315 994,894
Creditors: Amounts Falling Due After More Than One Year 8 - (10,279 )
NET ASSETS 1,022,315 984,615
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 1,022,215 984,515
SHAREHOLDERS' FUNDS 1,022,315 984,615
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr J P Barrett
Director
22/01/2025
The notes on pages 7 to 10 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ifield & Barrett (Roofing) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01054153 . The registered office is Unit 14 Rippleside Commercial Estate, Ripple Road, Barking, Essex, IG11 0RJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 250,961 140,453 391,414
Additions - 3,183 3,183
As at 31 May 2024 250,961 143,636 394,597
Depreciation
As at 1 June 2023 150,634 124,815 275,449
Provided during the period 25,082 5,699 30,781
As at 31 May 2024 175,716 130,514 306,230
Net Book Value
As at 31 May 2024 75,245 13,122 88,367
As at 1 June 2023 100,327 15,638 115,965
5. Stocks
2024 2023
£ £
Stock 112,979 109,183
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 477,534 513,687
Prepayments and accrued income 5,057 16,851
Wages paid in advance - 6,713
VAT 27,449 -
510,040 537,251
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,279 24,702
Trade creditors 208,490 271,029
Corporation tax 163,734 87,810
PAYE and NIC payable 46,765 34,840
VAT - 5,043
Other creditors 62,000 -
Accruals and deferred income 103,087 15,235
Directors' loan accounts 43 463
594,398 439,122
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 10,279
- 10,279
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,279 24,702
Later than one year and not later than five years - 10,279
10,279 34,981
10,279 34,981
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 332,576 283,000
332,576 283,000
12. Related Party Transactions
Rent is paid by the company to the pension fund of the directors. This was £48,000 (2022- £48,000).
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