42 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04174504 2023-08-01 2024-07-31 04174504 2024-07-31 04174504 2023-07-31 04174504 2022-08-01 2023-07-31 04174504 2023-07-31 04174504 2022-07-31 04174504 core:LandBuildings core:LongLeaseholdAssets 2023-08-01 2024-07-31 04174504 core:MotorVehicles 2023-08-01 2024-07-31 04174504 bus:Director1 2023-08-01 2024-07-31 04174504 core:LandBuildings 2023-07-31 04174504 core:PlantMachinery 2023-07-31 04174504 core:MotorVehicles 2023-07-31 04174504 core:LandBuildings 2024-07-31 04174504 core:PlantMachinery 2024-07-31 04174504 core:MotorVehicles 2024-07-31 04174504 core:LandBuildings 2023-08-01 2024-07-31 04174504 core:PlantMachinery 2023-08-01 2024-07-31 04174504 core:WithinOneYear 2024-07-31 04174504 core:WithinOneYear 2023-07-31 04174504 core:AfterOneYear 2024-07-31 04174504 core:ShareCapital 2024-07-31 04174504 core:ShareCapital 2023-07-31 04174504 core:RetainedEarningsAccumulatedLosses 2024-07-31 04174504 core:RetainedEarningsAccumulatedLosses 2023-07-31 04174504 core:LandBuildings 2023-07-31 04174504 core:PlantMachinery 2023-07-31 04174504 core:MotorVehicles 2023-07-31 04174504 bus:SmallEntities 2023-08-01 2024-07-31 04174504 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04174504 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 04174504 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04174504 bus:FullAccounts 2023-08-01 2024-07-31 04174504 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2023-08-01 2024-07-31 04174504 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2023-07-31 04174504 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2024-07-31 04174504 core:AfterOneYear 2023-08-01 2024-07-31
COMPANY REGISTRATION NUMBER: 04174504
T C Garrett Roofing Limited
Unaudited financial statements
31 July 2024
T C Garrett Roofing Limited
Statement of financial position
31 July 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
437,037
306,098
Current assets
Stocks
163,128
130,682
Debtors
6
920,204
739,320
Cash at bank and in hand
5,804,461
4,767,595
-----------
-----------
6,887,793
5,637,597
Creditors: amounts falling due within one year
7
( 916,921)
( 629,974)
-----------
-----------
Net current assets
5,970,872
5,007,623
-----------
-----------
Total assets less current liabilities
6,407,909
5,313,721
Creditors: amounts falling due after more than one year
8
( 42,184)
Provisions
Taxation including deferred tax
( 105,509)
( 71,917)
-----------
-----------
Net assets
6,260,216
5,241,804
-----------
-----------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
6,259,216
5,240,804
-----------
-----------
Shareholders funds
6,260,216
5,241,804
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
T C Garrett Roofing Limited
Statement of financial position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
T C Garrett
Director
Company registration number: 04174504
T C Garrett Roofing Limited
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is High View, Cantley Lane, Cringleford, Norwich, Norfolk, NR4 6TF. The trading address is 118 Ipswich Road, Long Stratton, Norwich, NR15 2TJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
25% reducing balance
Equipment
-
15 - 25% reducing balance
Motor vehicles
-
25% reducing balance
Scaffolding
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
The company operates a defined contribution pension scheme for its employees and the director. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of employees during the year was 42 (2023: 45 ).
5. Tangible assets
Property improve- ments
Equipment
Motor vehicles
Scaffolding
Total
£
£
£
£
£
Cost
At 1 August 2023
205,149
281,765
677,060
479,326
1,643,300
Additions
232,440
232,440
Disposals
( 50,249)
( 50,249)
---------
---------
---------
---------
-----------
At 31 July 2024
205,149
281,765
859,251
479,326
1,825,491
---------
---------
---------
---------
-----------
Depreciation
At 1 August 2023
188,177
210,202
503,145
435,678
1,337,202
Charge for the year
4,243
17,389
66,457
10,912
99,001
Disposals
( 47,749)
( 47,749)
---------
---------
---------
---------
-----------
At 31 July 2024
192,420
227,591
521,853
446,590
1,388,454
---------
---------
---------
---------
-----------
Carrying amount
At 31 July 2024
12,729
54,174
337,398
32,736
437,037
---------
---------
---------
---------
-----------
At 31 July 2023
16,972
71,563
173,915
43,648
306,098
---------
---------
---------
---------
-----------
6. Debtors
2024
2023
£
£
Trade debtors
733,338
648,640
Other debtors
186,866
90,680
---------
---------
920,204
739,320
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
151,965
87,465
Social security and other taxes
481,587
376,073
Other creditors
283,369
166,436
---------
---------
916,921
629,974
---------
---------
Liabilities in respect of hire purchase commitments of £29,515 (2023: £nil) are secured on the assets involved.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
42,184
-------
----
Liabilities in respect of hire purchase commitments of £42,184 (2023: £nil) are secured on the assets involved.
9. Director's advances, credits and guarantees
Included within debtors at the year end is a directors loan account of £Nil (2023: £30,797). The maximum overdrawn balance during the year was £132,717. Interest of £1,785 was charged at the official rate.