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Registered number: 13135401









ROOFF CONSTRUCTION LTD









FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2024

 
ROOFF CONSTRUCTION LTD
REGISTERED NUMBER: 13135401

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
5,204,604
3,541,302

Cash at bank and in hand
  
1,489,785
918,313

  
6,694,389
4,459,615

Creditors: amounts falling due within one year
 6 
(6,427,941)
(4,333,287)

Net current assets
  
 
 
266,448
 
 
126,328

Provisions for liabilities
  

Other provisions
 7 
(73,000)
(37,000)

Net assets
  
193,448
89,328


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Profit and loss account
  
183,448
79,328

  
193,448
89,328


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 January 2025.




M P S Horn
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
ROOFF CONSTRUCTION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

1.


General information

Rooff Construction Limited ("the Company") is a company limited by shares, incorporated in England and Wales. Its registered office is The Granary, 80 Abbey Road, Barking, England, IG11 7BT. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Rooff Holding Limited as at 30 June 2024 and these financial statements may be obtained from the company's registered office..

Page 2

 
ROOFF CONSTRUCTION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Revenue is also measured in line with long-term contracts in note 2.4. 

  
2.4

Long-term contracts

Profit is accounted for once the outcome of a contract can be assessed with reasonable certainty and is based on the appropriate stage of completion of the contract. Amounts recoverable on contracts which are included in debtors are valued at anticipated net sale value after provision for contingencies and anticipated future losses on contracts. Claims are included in the valuation of contracts and credited to the Statement of income and retained earnings account only when entitlement has been established. Cash received on account of contracts is deducted from amounts recoverable on contracts. Such amounts which have been received and exceed amounts recoverable are included in creditors.
Contract provisions in excess of amounts recoverable are included in provisions for liabilities and charges. 
Profit provisions in excess of amounts recoverable are included in provisions for liabilities and charges and are recognised within trade creditors.
Any potential loss on a long term contract is provided in full as soon as it is foreseen.

 
2.5

Taxation

Tax is recognised in the Statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
ROOFF CONSTRUCTION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 4

 
ROOFF CONSTRUCTION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
a) Critical judgements in applying the entity's accounting policies
No significant judgements have had to be made by management in preparing these financial statements.
b) Critical accounting estimates and assumptions
These directors have made key assumptions regarding the stage of completion, future costs to complete and collectability of billings of some construction contracts. The amount receivable from customers on such construction contracts at the end of the reporting period has been estimated at £157,336 (2023- £1,345,834) and is included within trade debtors. The total amount of provisions made against such contract is £36,000 (2023 - £13,000). The total amount of costs provisions made against such contracts is £2,475,081 (2023 - £1,866,640). Both figures are included within the trade creditors figure.


4.


Employees

The average monthly number of employees, including directors, during the period was 7 (2023 - 7).

Page 5

 
ROOFF CONSTRUCTION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
3,291,141
2,304,921

Amounts owed by connected entities
1,913,463
1,236,381

5,204,604
3,541,302



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,720,413
2,135,900

Amounts owed to group companies
1,645,161
2,183,153

Corporation tax
4,328
11,234

Other taxation and social security
25,558
-

Other creditors
22,481
-

Accruals and deferred income
10,000
3,000

6,427,941
4,333,287



7.


Provisions





Contract provisions

£





At 1 July 2023
37,000


Charged to profit or loss
36,000



At 30 June 2024
73,000

Provisions are recognised when the Company has a present legal or constructive obligation as a result of of past and future events. These provisions, which have been reliably estimated, relate to claims and after costs to settle obligations which are likely to occur after the completion of construction projects. 

Page 6

 
ROOFF CONSTRUCTION LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and repayment of capital.



9.


Related party transactions

The Company has taken advantage of the exemption available under Financial Reporting Standard 102 section 33 'Related Party Transactions' not to disclose transactions with entities included in the consolidated financial statements of Rooff Holdings Limited, its ultimate parent undertaking. 
During the period, the Company has made sales of £2,572,706 
(2023 - £2,834,231) to connected companies. At the balance sheet date, the Company was owed net amounts of £1,913,463 (2023 - £1,236,381) from these companies.


10.


Controlling party

The Company is a wholly owned subsidiary of Rooff Holdings Limited. The consolidated financial statements of Rooff Holdings Limited are available from The Granary, 80 Abbey Road, Barking, London, IG11 7BT. As at 30 June 2024 the ultimate controlling party of the Company is a family trust of which A A Horn and M P S Horn are Trustees. 


11.


Auditors' information

The auditors' report on the financial statements for the period ended 30 June 2024 was unqualified.

The audit report was signed on 13 January 2025 by Stuart Moon (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 7