Registered number
03557182
Delstone Roofing Limited
Filleted Accounts
31 May 2024
Delstone Roofing Limited
Registered number: 03557182
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 157,246 111,298
Current assets
Stocks 2,200 2,200
Debtors 4 46,377 42,425
Cash at bank and in hand 81,808 132,409
130,385 177,034
Creditors: amounts falling due within one year 5 (59,146) (63,944)
Net current assets 71,239 113,090
Total assets less current liabilities 228,485 224,388
Creditors: amounts falling due after more than one year 6 (40,252) (56,113)
Net assets 188,233 168,275
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 187,233 167,275
Shareholder's funds 188,233 168,275
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steven Taylor
Director
Approved by the board on 3 February 2025
Delstone Roofing Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 170,030 75,290 245,320
Additions 5,906 90,537 96,443
Disposals - (55,990) (55,990)
At 31 May 2024 175,936 109,837 285,773
Depreciation
At 1 June 2023 100,800 33,222 134,022
Charge for the year 14,625 7,925 22,550
On disposals - (28,045) (28,045)
At 31 May 2024 115,425 13,102 128,527
Net book value
At 31 May 2024 60,511 96,735 157,246
At 31 May 2023 69,230 42,068 111,298
4 Debtors 2024 2023
£ £
Trade debtors 102 1,350
Other debtors 46,275 41,075
46,377 42,425
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,903 -
Obligations under finance lease and hire purchase contracts 5,347 4,790
Trade creditors 11,748 16,802
Taxation and social security costs 18,295 32,261
Other creditors 19,853 10,091
59,146 63,944
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 40,252 56,113
7 Controlling party
The company was in both the current and preceding accounting periods under the ultimate control of its director by virtue of his ownership of the company’s entire issued share capital.
8 Other information
Delstone Roofing Limited is a private company limited by shares and incorporated in England. Its registered office is:
13 Moffats Lane
Brookmans Park
Hertfordshire
AL9 7RX
Delstone Roofing Limited 03557182 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Steven Taylor No description of principal activity 03557182 2022-05-31 2023-05-31 03557182 core:WithinOneYear 2023-05-31 03557182 core:AfterOneYear 2023-05-31 03557182 core:ShareCapital 2023-05-31 03557182 core:RetainedEarningsAccumulatedLosses 2023-05-31 03557182 2023-06-01 2024-05-31 03557182 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03557182 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 03557182 bus:Director40 2023-06-01 2024-05-31 03557182 1 2023-06-01 2024-05-31 03557182 2 2023-06-01 2024-05-31 03557182 core:PlantMachinery 2023-06-01 2024-05-31 03557182 core:Vehicles 2023-06-01 2024-05-31 03557182 countries:England 2023-06-01 2024-05-31 03557182 bus:FRS102 2023-06-01 2024-05-31 03557182 bus:FilletedAccounts 2023-06-01 2024-05-31 03557182 2024-05-31 03557182 core:WithinOneYear 2024-05-31 03557182 core:AfterOneYear 2024-05-31 03557182 core:ShareCapital 2024-05-31 03557182 core:RetainedEarningsAccumulatedLosses 2024-05-31 03557182 core:PlantMachinery 2024-05-31 03557182 core:Vehicles 2024-05-31 03557182 2023-05-31 03557182 core:PlantMachinery 2023-05-31 03557182 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure