Studley Roofing Limited 04314415 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of roofing contractors. Digita Accounts Production Advanced 6.30.9574.0 true true 04314415 2023-05-01 2024-04-30 04314415 2024-04-30 04314415 bus:OrdinaryShareClass1 2024-04-30 04314415 core:CurrentFinancialInstruments 2024-04-30 04314415 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 04314415 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 04314415 core:FurnitureFittingsToolsEquipment 2024-04-30 04314415 core:LandBuildings 2024-04-30 04314415 core:MotorVehicles 2024-04-30 04314415 1 2024-04-30 04314415 bus:SmallEntities 2023-05-01 2024-04-30 04314415 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04314415 bus:FullAccounts 2023-05-01 2024-04-30 04314415 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04314415 bus:RegisteredOffice 2023-05-01 2024-04-30 04314415 bus:CompanySecretaryDirector2 2023-05-01 2024-04-30 04314415 bus:Director1 2023-05-01 2024-04-30 04314415 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 04314415 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04314415 bus:Agent1 2023-05-01 2024-04-30 04314415 core:FurnitureFittings 2023-05-01 2024-04-30 04314415 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 04314415 core:LandBuildings 2023-05-01 2024-04-30 04314415 core:MotorCars 2023-05-01 2024-04-30 04314415 core:MotorVehicles 2023-05-01 2024-04-30 04314415 core:PlantMachinery 2023-05-01 2024-04-30 04314415 countries:EnglandWales 2023-05-01 2024-04-30 04314415 1 2023-05-01 2024-04-30 04314415 2023-04-30 04314415 core:FurnitureFittingsToolsEquipment 2023-04-30 04314415 core:LandBuildings 2023-04-30 04314415 core:MotorVehicles 2023-04-30 04314415 1 2023-04-30 04314415 2022-05-01 2023-04-30 04314415 2023-04-30 04314415 bus:OrdinaryShareClass1 2023-04-30 04314415 core:CurrentFinancialInstruments 2023-04-30 04314415 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 04314415 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 04314415 core:FurnitureFittingsToolsEquipment 2023-04-30 04314415 core:LandBuildings 2023-04-30 04314415 core:MotorVehicles 2023-04-30 04314415 1 2023-04-30 04314415 1 2022-05-01 2023-04-30 04314415 1 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04314415

Studley Roofing Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Studley Roofing Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 10

 

Studley Roofing Limited

Company Information

Directors

Mr D M Studley

Mrs J C Studley

Company secretary

Mrs J C Studley

Registered office

Church House
Church Street
Yeovil
Somerset
BA20 1HB

Accountants

Lanham & Francis
Chartered Accountants
Church House
Church Street
Yeovil
Somerset
BA20 1HB

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Studley Roofing Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Studley Roofing Limited for the year ended 30 April 2024 as set out on pages 3 to 10 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Studley Roofing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Studley Roofing Limited and state those matters that we have agreed to state to the Board of Directors of Studley Roofing 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 Studley Roofing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Studley Roofing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Studley Roofing Limited. You consider that Studley Roofing 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 accounts of Studley Roofing 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 accounts.






Lanham & Francis
Chartered Accountants
Church House
Church Street
Yeovil
Somerset
BA20 1HB

25 April 2025

 

Studley Roofing Limited

(Registration number: 04314415)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,966

47,856

Investment property

5

425,644

415,404

 

465,610

463,260

Current assets

 

Stocks

6

450

1,950

Debtors

7

34,420

56,834

Cash at bank and in hand

 

68,100

71,070

 

102,970

129,854

Creditors: Amounts falling due within one year

8

(97,074)

(111,159)

Net current assets

 

5,896

18,695

Total assets less current liabilities

 

471,506

481,955

Creditors: Amounts falling due after more than one year

8

(139,388)

(153,409)

Provisions for liabilities

(6,515)

(6,724)

Net assets

 

325,603

321,822

Capital and reserves

 

Called up share capital

9

3

3

Retained earnings

325,600

321,819

Shareholders' funds

 

325,603

321,822

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Studley Roofing Limited

(Registration number: 04314415)
Balance Sheet as at 30 April 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 May 2025 and signed on its behalf by:
 

Mr D M Studley
Director

   
     
 

Studley Roofing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Church House
Church Street
Yeovil
Somerset
BA20 1HB

The principal place of business is:
Manor Road
Yeovil
Somerset
BA20 1UF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These 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 £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Studley Roofing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

Nil

Motor vehicles

25% per annum, reducing balance basis

Equipment, fixtures and fittings

25% per annum, reducing balance basis

Plant and machinery

25% per annum, reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Studley Roofing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
FRS 102 classifies financial instruments as either basic financial instruments or other financial instruments. The accounting treatment varies according to the classification.
Basic financial instruments are defined as one of the following:
- cash
- a debt instrument (such as accounts receivable and payable)
- commitment to receive a loan that satisfy certain criteria
- investments in non-convertible preference shares, and non puttable ordinary shares.

All other financial instruments are classed as other financial instruments and treated accordingly.

 Recognition and measurement
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Studley Roofing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

4,788

50,739

55,164

110,691

Additions

-

9,020

-

9,020

Disposals

-

(4,000)

-

(4,000)

At 30 April 2024

4,788

55,759

55,164

115,711

Depreciation

At 1 May 2023

-

40,686

22,149

62,835

Charge for the year

-

4,639

11,005

15,644

Eliminated on disposal

-

(2,734)

-

(2,734)

At 30 April 2024

-

42,591

33,154

75,745

Carrying amount

At 30 April 2024

4,788

13,168

22,010

39,966

At 30 April 2023

4,788

10,053

33,015

47,856

Included within the net book value of land and buildings above is £4,788 (2023 - £4,788) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 May 2023

415,404

Fair value adjustments

10,240

At 30 April 2024

425,644

The investment properties have been revalued by the director who considers that the value shown in the financial statements is correct and there has been no impairment in value.

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other inventories

450

1,950

 

Studley Roofing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

7

Debtors

Current

2024
£

2023
£

Trade debtors

21,770

47,914

Prepayments

12,493

8,920

Other debtors

157

-

 

34,420

56,834

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

30,980

33,982

Trade creditors

 

15,183

31,099

Taxation and social security

 

29,757

37,207

Accruals and deferred income

 

7,609

7,791

Other creditors

 

13,545

1,080

 

97,074

111,159

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £8,480 ((2023 - £8,100).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

139,388

153,409

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £133,971 (2023 - £142,576).

Creditors include bank loans repayable by instalments of £95,971 (2023 - £107,876) due after more than five years.

 

Studley Roofing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3

         

10

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Other payments made to company by director
£

At 30 April 2024
£

Directors' accounts

(192)

(1,958)

(2,150)

       
     

 

2023

At 1 May 2022
£

Advances to director
£

At 30 April 2023
£

Directors' accounts

(4,069)

3,877

(192)