Registered number
09351224
Steven Morton Felt Roofing Limited
Filleted Accounts
31 December 2024
Steven Morton Felt Roofing Limited
Registered number: 09351224
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 40,244 47,180
Current assets
Stocks 28,700 28,000
Debtors 4 89,197 132,210
Cash at bank and in hand 278,669 254,541
396,566 414,751
Creditors: amounts falling due within one year 5 (82,118) (90,556)
Net current assets 314,448 324,195
Total assets less current liabilities 354,692 371,375
Provisions for liabilities (1,613) (1,968)
Net assets 353,079 369,407
Capital and reserves
Called up share capital 10,002 5,002
Profit and loss account 343,077 364,405
Shareholders' funds 353,079 369,407
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.
SJ Morton
Director
Approved by the board on 14 March 2025
Steven Morton Felt Roofing Limited
Notes to the Accounts
for the year ended 31 December 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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 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).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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 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.
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 9 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 12,247 22,024 102,512 136,783
Additions - 8,331 - 8,331
Disposals - (450) - (450)
At 31 December 2024 12,247 29,905 102,512 144,664
Depreciation
At 1 January 2024 735 17,324 71,544 89,603
Charge for the year 245 3,703 10,869 14,817
At 31 December 2024 980 21,027 82,413 104,420
Net book value
At 31 December 2024 11,267 8,878 20,099 40,244
At 31 December 2023 11,512 4,700 30,968 47,180
4 Debtors 2024 2023
£ £
Trade debtors 27,357 30,022
Other debtors 61,840 102,188
89,197 132,210
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 25,663 29,927
Taxation and social security costs 56,455 60,628
Other creditors - 1
82,118 90,556
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
SJ Morton
Loan 27,630 - (12,463) 15,167
SM Morton
Loan 27,631 - (12,463) 15,168
55,261 - (24,926) 30,335
7 Controlling party
The company is controlled by SJ and SM Morton.
8 Other information
Steven Morton Felt Roofing Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Philip Bowdidge Accountancy
34 Ringwood Road
Walkford
Christchurch
BH23 5RD
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