Company registration number 03142789 (England and Wales)
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
COMPANY INFORMATION
Directors
Mr J P Doyle
Mr B J A Jenkins
Mr S McDaid
Company number
03142789
Registered office
Unit 1, George Baylis Court
George Baylis Road
Berry Hill Industrial Estate
Droitwich
Worcestershire
WR9 9RB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
National Westminster Bank Plc
Western Avenue
Chatham Maritime
Chatham
ME4 4RT
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Droitwich Roofing And Building Specialists Limited for the year ended 31 January 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Droitwich Roofing And Building Specialists Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Droitwich Roofing And Building Specialists Limited and state those matters that we have agreed to state to the board of directors of Droitwich Roofing And Building Specialists Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Droitwich Roofing And Building Specialists Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Droitwich Roofing And Building Specialists Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Droitwich Roofing And Building Specialists Limited. You consider that Droitwich Roofing And Building Specialists Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Droitwich Roofing And Building Specialists Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
10 April 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
108,207
35,705
Current assets
Stocks
16,193
16,006
Debtors
4
23,627
46,751
Cash at bank and in hand
461,135
431,825
500,955
494,582
Creditors: amounts falling due within one year
5
(160,764)
(211,861)
Net current assets
340,191
282,721
Total assets less current liabilities
448,398
318,426
Creditors: amounts falling due after more than one year
6
(52,678)
(14,014)
Provisions for liabilities
8
(27,049)
(8,926)
Net assets
368,671
295,486
Capital and reserves
Called up share capital
9
949
949
Profit and loss reserves
367,722
294,537
Total equity
368,671
295,486
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 January 2025 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.
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025
31 January 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 10 April 2025 and are signed on its behalf by:
Mr B J A Jenkins
Director
Company registration number 03142789 (England and Wales)
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
1
Accounting policies
Company information
Droitwich Roofing And Building Specialists Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, George Baylis Court, George Baylis Road, Berry Hill Industrial Estate, Droitwich, Worcestershire, WR9 9RB.
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 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.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
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
15% on reducing balance
Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
1.4
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.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.5
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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.
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
5
4
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2024
16,272
25,185
7,200
58,602
107,259
Additions
399
173
667
93,488
94,727
At 31 January 2025
16,671
25,358
7,867
152,090
201,986
Depreciation and impairment
At 1 February 2024
13,933
19,768
6,723
31,130
71,554
Depreciation charged in the year
350
1,102
609
20,164
22,225
At 31 January 2025
14,283
20,870
7,332
51,294
93,779
Carrying amount
At 31 January 2025
2,388
4,488
535
100,796
108,207
At 31 January 2024
2,339
5,417
477
27,472
35,705
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
17,898
39,060
Other debtors
5,729
7,691
23,627
46,751
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
Trade creditors
40,639
51,048
Amounts owed to group undertakings
10,482
15,357
Taxation and social security
98,891
127,163
Other creditors
10,752
8,293
160,764
211,861
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
14,014
Other creditors
52,678
52,678
14,014
7
Secured debts
The following secured debts are included within creditors:
2025
2024
£
£
Hire purchase contracts
55,163
-
Bank loans
-
24,014
55,163
24,014
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a government-backed guarantee.
8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
27,049
8,926
DROITWICH ROOFING AND BUILDING SPECIALISTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
317
317
317
317
Ordinary B of £1 each
316
316
316
316
Ordinary C of £1 each
316
316
316
316
949
949
949
949
10
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
11
Control
Ultimate parent company
The ultimate parent company is George Baylis Court Limited, a company registered in England and Wales.
Ultimate controlling party
There is no ultimate controlling party, due to no controlling interest in the ultimate parent company.