Company registration number 06808140 (England and Wales)
BLUECORD ROOFING AND CLADDING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
BLUECORD ROOFING AND CLADDING LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
BLUECORD ROOFING AND CLADDING LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. P Flood
Mrs. H Flood
Secretary
Mrs. H Flood
Company number
06808140
Registered office
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
BLUECORD ROOFING AND CLADDING LIMITED
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
34,818
40,449
Current assets
Stocks
29,450
28,300
Debtors
5
1,199,920
1,400,182
Cash at bank and in hand
35,893
11,178
1,265,263
1,439,660
Creditors: amounts falling due within one year
6
(954,056)
(1,109,694)
Net current assets
311,207
329,966
Total assets less current liabilities
346,025
370,415
Creditors: amounts falling due after more than one year
7
(14,305)
(47,509)
Provisions for liabilities
(8,705)
(10,112)
Net assets
323,015
312,794
Capital and reserves
Called up share capital
8
1,001
1,001
Profit and loss reserves
322,014
311,793
Total equity
323,015
312,794
BLUECORD ROOFING AND CLADDING LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 April 2025 and are signed on its behalf by:
Mr. P Flood
Director
Company Registration No. 06808140
The notes on pages 4 to 9 form part of these financial statements
BLUECORD ROOFING AND CLADDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
1
Accounting policies
Company information
Bluecord Roofing And Cladding Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth, Hampshire, PO6 3TH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from ongoing building projects is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and was amortised on a systematic basis over its expected life.
BLUECORD ROOFING AND CLADDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% reducing balance
Computer equipment
33% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
BLUECORD ROOFING AND CLADDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 6 -
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
10
10
BLUECORD ROOFING AND CLADDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
119,000
Amortisation and impairment
At 1 August 2023 and 31 July 2024
119,000
Carrying amount
At 31 July 2024
At 31 July 2023
4
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2023
18,286
8,170
59,341
85,797
Additions
3,708
3,708
At 31 July 2024
21,994
8,170
59,341
89,505
Depreciation and impairment
At 1 August 2023
10,267
7,108
27,973
45,348
Depreciation charged in the year
955
542
7,842
9,339
At 31 July 2024
11,222
7,650
35,815
54,687
Carrying amount
At 31 July 2024
10,772
520
23,526
34,818
At 31 July 2023
8,019
1,062
31,368
40,449
BLUECORD ROOFING AND CLADDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,074,815
1,258,359
Other debtors
123,228
139,130
Prepayments and accrued income
1,877
2,693
1,199,920
1,400,182
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,076
6,076
Obligations under hire purchase agreements
7,870
8,798
Trade creditors
702,384
837,117
Other taxation and social security
74,028
70,203
Other creditors
161,363
186,075
Accruals and deferred income
2,335
1,425
954,056
1,109,694
The hire purchase liabilities are secured on the assets to which they relate.
Within other creditors £117,089 (2023 - £93,526 ) is secured with a fixed and floating charge against the assets of the company.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,131
14,176
Obligations under hire purchase agreements
6,174
14,044
Other creditors
19,289
14,305
47,509
The hire purchase liabilities are secured on the assets to which they relate.
BLUECORD ROOFING AND CLADDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 9 -
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1,001 Ordinary of £1 each
1,001
1,001
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
2,160
2,160
10
Directors' transactions
During the year, the director's loan account was overdrawn by a maximum of £17,531 (2023 - £37,327). This balance has been fully repaid including the interest charged on the account. The company now owes the directors £258 (2023 - £175).
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