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COMPANY REGISTRATION NUMBER: 07963223
Roofcare (North Staffs) Ltd
Filleted Unaudited Financial Statements
31 July 2024
Roofcare (North Staffs) Ltd
Financial Statements
Year ended 31 July 2024
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 7
Roofcare (North Staffs) Ltd
Balance Sheet
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
29,517
36,631
Current assets
Stocks
18,925
15,750
Debtors
6
34,718
44,453
Cash at bank and in hand
2,451
40,013
--------
---------
56,094
100,216
Creditors: amounts falling due within one year
7
50,554
61,953
--------
---------
Net current assets
5,540
38,263
--------
--------
Total assets less current liabilities
35,057
74,894
Creditors: amounts falling due after more than one year
8
28,557
41,033
Provisions
Taxation including deferred tax
5,590
7,100
--------
--------
Net assets
910
26,761
--------
--------
Capital and reserves
Called up share capital
3
3
Profit and loss account
907
26,758
----
--------
Shareholders funds
910
26,761
----
--------
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 profit and loss account 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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Roofcare (North Staffs) Ltd
Balance Sheet (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 23 April 2025 , and are signed on behalf of the board by:
Mr R J French
Director
Company registration number: 07963223
Roofcare (North Staffs) Ltd
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, registration number 07963223 . The address of the registered office is 29 King Street, Newcastle-under-Lyme, Staffordshire, ST5 1ER.
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. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
Turnover comprises the value of sales (exclusive of VAT) of services provided in the normal course of business. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Plant and Machinery
-
15% reducing balance
Fixtures and Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost represents the purchase invoice price. Net realisable value is the estimated proceeds from the sale of stock items, less all future costs to completion, costs to be incurred in marketing, selling and distributing.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet 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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal values. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade Creditors Trade creditors are not interest bearing and are stated at their nominal value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 9 ).
5. Tangible assets
Plant and Machinery
Fixtures and Fittings
Motor Vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 August 2023
4,572
1,700
65,778
2,186
74,236
Additions
22,250
22,250
Disposals
( 449)
( 25,990)
( 26,439)
-------
-------
--------
-------
--------
At 31 July 2024
4,123
1,700
62,038
2,186
70,047
-------
-------
--------
-------
--------
Depreciation
At 1 August 2023
3,191
813
32,084
1,517
37,605
Charge for the year
192
133
9,113
330
9,768
Disposals
( 345)
( 6,498)
( 6,843)
-------
-------
--------
-------
--------
At 31 July 2024
3,038
946
34,699
1,847
40,530
-------
-------
--------
-------
--------
Carrying amount
At 31 July 2024
1,085
754
27,339
339
29,517
-------
-------
--------
-------
--------
At 31 July 2023
1,381
887
33,694
669
36,631
-------
-------
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
17,150
41,203
Other debtors
17,568
3,250
--------
--------
34,718
44,453
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
19,947
25,481
Corporation tax
10,856
11,049
Social security and other taxes
5,915
Other creditors
9,751
9,508
--------
--------
50,554
61,953
--------
--------
The bank loan in favour of Barclays Bank UK PLC is unsecured. Hire purchase liabilities of £2,859 (2023: £4,041) are secured against the assets to which they relate.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,667
26,667
Other creditors
11,890
14,366
--------
--------
28,557
41,033
--------
--------
The bank loan in favour of Barclays Bank UK PLC is unsecured. Hire purchase liabilities of £11,890 (2023: £14,366) are secured against the assets to which they relate.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
2,539
3,808
Later than 1 year and not later than 5 years
2,539
-------
-------
2,539
6,347
-------
-------
10. Directors' advances, credits and guarantees
During the year the directors have maintained current accounts with the company. The total balance on these accounts at the start of the year was credit £546 (2023 - debit £455). Total advances during the year were £88,626 (2023 - £70,400). During the year individually material repayments of £13,000 and £8,000 were made on 31 July 2024. All other repayments totalled £59,500 (2023 - £71,401). The balance at the year-end included in other debtors is £7,580 (2023 - £546 included in other creditors). The advances were on an interest free basis.