Registered number
11068524
TOTAL ROOFING SUPPLIES LIMITED
Filleted Accounts
30 November 2024
TOTAL ROOFING SUPPLIES LIMITED
Registered number: 11068524
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 239,284 239,633
Current assets
Stocks 479,102 417,710
Debtors 4 2,219,625 1,758,443
Investments held as current assets 5 1,300 -
Cash at bank and in hand 343,792 152,926
3,043,819 2,329,079
Creditors: amounts falling due within one year 6 (1,902,348) (1,413,707)
Net current assets 1,141,471 915,372
Total assets less current liabilities 1,380,755 1,155,005
Creditors: amounts falling due after more than one year 7 (125,341) (121,866)
Provisions for liabilities (43,027) (39,138)
Net assets 1,212,387 994,001
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 1,202,387 984,001
Shareholders' funds 1,212,387 994,001
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr A Smith
Director
Approved by the board on 3 February 2025
TOTAL ROOFING SUPPLIES LIMITED
Notes to the Accounts
for the year ended 30 November 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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:
Leasehold land and buildings over the lease term
Buildings and yard over 5 years
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 8
3 Tangible fixed assets
Buildings and yard Plant and machinery etc Total
£ £ £
Cost
At 1 December 2023 111,569 264,304 375,873
Additions - 72,872 72,872
At 30 November 2024 111,569 337,176 448,745
Depreciation
At 1 December 2023 77,922 58,318 136,240
Charge for the year 20,821 52,400 73,221
At 30 November 2024 98,743 110,718 209,461
Net book value
At 30 November 2024 12,826 226,458 239,284
At 30 November 2023 33,647 205,986 239,633
4 Debtors 2024 2023
£ £
Trade debtors 1,351,274 1,352,450
Other debtors 868,351 405,993
2,219,625 1,758,443
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 1,300 -
Total Roofing Supplies Limited has 10 fully paid shares in National Merchant Buying Society Ltd company number IP16406R . National Merchant Buying Society Ltd is subject to Co-operative & Community Benefit Societies Act 2014, the registered rules and regulations of the society. It is regulated by the Financial Conduct Authority.
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 39,115
Obligations under finance lease and hire purchase contracts 45,795 32,835
Trade creditors 1,532,289 1,125,383
Taxation and social security costs 264,396 189,490
Other creditors 49,868 26,884
1,902,348 1,413,707
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,531 16,661
Obligations under finance lease and hire purchase contracts 118,810 105,205
125,341 121,866
8 Related party transactions
The company has loaned funds to Dulai Investments Ltd, company number 06040841. Mr S S Dulai is a director and shareholder in Dulai investments Ltd.The loan is interest bearing and repayable on demand. The balance at year end 2024 is £770,000 (YE 2023 £400,000)
9 Other information
TOTAL ROOFING SUPPLIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
8 Blue Barns Business Park
Old Ipswich Road, Ardleigh
Colchester
Essex
CO7 7FX
TOTAL ROOFING SUPPLIES LIMITED 11068524 false 2023-12-01 2024-11-30 2024-11-30 VT Final Accounts July 2024 Mr A Smith No description of principal activity 11068524 2022-12-01 2023-11-30 11068524 core:WithinOneYear 2023-11-30 11068524 core:AfterOneYear 2023-11-30 11068524 core:ShareCapital 2023-11-30 11068524 core:RetainedEarningsAccumulatedLosses 2023-11-30 11068524 2023-12-01 2024-11-30 11068524 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 11068524 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 11068524 bus:Director40 2023-12-01 2024-11-30 11068524 1 2023-12-01 2024-11-30 11068524 2 2023-12-01 2024-11-30 11068524 core:LandBuildings 2023-12-01 2024-11-30 11068524 core:PlantMachinery 2023-12-01 2024-11-30 11068524 countries:England 2023-12-01 2024-11-30 11068524 bus:FRS102 2023-12-01 2024-11-30 11068524 bus:FilletedAccounts 2023-12-01 2024-11-30 11068524 2024-11-30 11068524 core:WithinOneYear 2024-11-30 11068524 core:AfterOneYear 2024-11-30 11068524 core:ShareCapital 2024-11-30 11068524 core:RetainedEarningsAccumulatedLosses 2024-11-30 11068524 core:LandBuildings 2024-11-30 11068524 core:PlantMachinery 2024-11-30 11068524 2023-11-30 11068524 core:LandBuildings 2023-11-30 11068524 core:PlantMachinery 2023-11-30 iso4217:GBP xbrli:pure