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REGISTERED NUMBER: 12000865 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Waring Building & Roofing Ltd

Waring Building & Roofing Ltd (Registered number: 12000865)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Waring Building & Roofing Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr L Waring
Mr A J Waring





REGISTERED OFFICE: 28 Bagdale
Whitby
North Yorkshire
YO21 1QL





REGISTERED NUMBER: 12000865 (England and Wales)





ACCOUNTANTS: Philip Burley & Co
Chartered Accountants
28 Bagdale
Whitby
YO21 1QL

Waring Building & Roofing Ltd (Registered number: 12000865)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,711 65,808

CURRENT ASSETS
Stocks 52,516 57,060
Debtors 5 1,946 18,517
Cash at bank 5,650 817
60,112 76,394
CREDITORS
Amounts falling due within one year 6 253,676 225,545
NET CURRENT LIABILITIES (193,564 ) (149,151 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(133,853

)

(83,343

)

CREDITORS
Amounts falling due after more than one
year

7

(41,559

)

(44,208

)

PROVISIONS FOR LIABILITIES (12,141 ) (11,748 )
NET LIABILITIES (187,553 ) (139,299 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (187,653 ) (139,399 )
SHAREHOLDERS' FUNDS (187,553 ) (139,299 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Waring Building & Roofing Ltd (Registered number: 12000865)

Balance Sheet - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:




Mr A J Waring - Director



Mr L Waring - Director


Waring Building & Roofing Ltd (Registered number: 12000865)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Waring Building & Roofing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in accounting policies
The company transitioned to the FRS 102 Section 1A financial reporting framework on the 1st June 2023.

The accounts for the year ended 31st May 2023 are the latest prepared in accordance with FRS105, the previous financial reporting framework

As the company previously applied FRS105 it was not required to recognise deferred tax in the financial statements.

On the transition date, the company has adopted an accounting policy for deferred tax due to the cessation of any FRS105 reporting exemption and in order for these accounts to provide a true and fair view. The comparative figures for the year ended 31st May 2023 have been restated as follows:

Reconciliation Of Equity


At 1 June 2023 At 31 May 2024

£ £

Capital and reserves (as previously stated) (127,551) (175,412)

Recognition of deferred tax provision (per note 2) (11,748) (12,141)

Capital and reserves (as restated) (139,299) (187,553)



Reconciliation of profit or loss for the year Year Ended 31 May 2023

£

Loss for the year (as previously stated) (2,693)

Recognition of deferred tax (per note 2) 526

Loss for the year (as restated) (2,167)

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Waring Building & Roofing Ltd (Registered number: 12000865)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 17 ) .

Waring Building & Roofing Ltd (Registered number: 12000865)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 12,661 1,499 83,647 7,515 105,322
Additions 4,621 637 17,198 801 23,257
Disposals - - (23,449 ) - (23,449 )
At 31 May 2024 17,282 2,136 77,396 8,316 105,130
DEPRECIATION
At 1 June 2023 3,014 540 30,549 5,411 39,514
Charge for year 1,426 158 11,059 1,704 14,347
Eliminated on disposal - - (8,442 ) - (8,442 )
At 31 May 2024 4,440 698 33,166 7,115 45,419
NET BOOK VALUE
At 31 May 2024 12,842 1,438 44,230 1,201 59,711
At 31 May 2023 9,647 959 53,098 2,104 65,808

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 17,036
Other debtors 1,946 1,481
1,946 18,517

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 9,225 15,700
Trade creditors 101,768 97,102
Taxation and social security 129,228 78,926
Other creditors 7,899 28,261
253,676 225,545

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 11,003 8,097
Other creditors 30,556 36,111
41,559 44,208