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TURNER ROOFING LIMITED

Registered Number
11643944
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

TURNER ROOFING LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

TURNER, Simon

Company Secretary

MUMBERSON, Kerry Louise

Registered Address

Carleton House
136 Gray Street
Workington
CA14 2LU

Place of Business

5 Beech Hill

Oughterside

Wigton

Cumbria

CA7 2QA


Registered Number

11643944 (England and Wales)
TURNER ROOFING LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3211,584158,183
211,584158,183
Current assets
Stocks425,82720,000
Debtors5113,953149,541
Cash at bank and on hand115,356171,652
255,136341,193
Creditors amounts falling due within one year6(108,478)(202,388)
Net current assets (liabilities)146,658138,805
Total assets less current liabilities358,242296,988
Creditors amounts falling due after one year7(9,397)(23,061)
Provisions for liabilities9(56,066)(42,986)
Net assets292,779230,941
Capital and reserves
Called up share capital100100
Profit and loss account292,679230,841
Shareholders' funds292,779230,941
The financial statements were approved and authorised for issue by the Director on 30 April 2025, and are signed on its behalf by:
TURNER, Simon
Director
Registered Company No. 11643944
TURNER ROOFING LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings20
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year99
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 November 2395,629151,0423,142249,813
Additions83,94020,995-104,935
At 31 October 24179,569172,0373,142354,748
Depreciation and impairment
At 01 November 2335,22455,0361,37091,630
Charge for year26,65224,43944351,534
At 31 October 2461,87679,4751,813143,164
Net book value
At 31 October 24117,69392,5621,329211,584
At 31 October 2360,40596,0061,772158,183
4.Stocks

2024

2023

££
Raw materials and consumables10,00010,000
Work in progress15,82710,000
Total25,82720,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables80,168125,915
Other debtors28,25218,267
Prepayments and accrued income5,5335,359
Total113,953149,541
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables49,035132,509
Bank borrowings and overdrafts6,9234,925
Taxation and social security21,01725,247
Finance lease and HP contracts8,36310,953
Other creditors-5,720
Accrued liabilities and deferred income23,14023,034
Total108,478202,388
Creditors includes £8,363 (2023 - £10,953) in respect of hire purchase liabilities which are secured on the assets to which they relate.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts3,0808,382
Other creditors6,31714,679
Total9,39723,061
Creditors includes £6,317 (2023 - £14,680) in respect of hire purchase liabilities which are secured on the assets to which they relate.
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts6,31714,680
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)56,06642,986
Total56,06642,986
10.Capital commitments
The total amount of financial commitments not included in the balance sheet is £23,000. The capital commitments relate to the two yards which the company rents.
11.Directors advances, credits and guarantees
On 1 November 2023 the Company owed a director £5,267. During the period this director was advanced £64,102 and repaid £37,780. As at 31 October 2024 this Director owed the Company £21,055. No interest was charged on this loan. The loan is unsecured and repayable upon demand.