Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-3113405902025-05-07truefalse2023-06-01Provision of commercial roofing services2612falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10773985 2023-06-01 2024-05-31 10773985 2022-06-01 2023-05-31 10773985 2024-05-31 10773985 2023-05-31 10773985 c:Director1 2023-06-01 2024-05-31 10773985 d:Buildings 2023-06-01 2024-05-31 10773985 d:Buildings 2024-05-31 10773985 d:Buildings 2023-05-31 10773985 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773985 d:PlantMachinery 2023-06-01 2024-05-31 10773985 d:PlantMachinery 2024-05-31 10773985 d:PlantMachinery 2023-05-31 10773985 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773985 d:MotorVehicles 2023-06-01 2024-05-31 10773985 d:MotorVehicles 2024-05-31 10773985 d:MotorVehicles 2023-05-31 10773985 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773985 d:OfficeEquipment 2023-06-01 2024-05-31 10773985 d:OfficeEquipment 2024-05-31 10773985 d:OfficeEquipment 2023-05-31 10773985 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773985 d:ComputerEquipment 2023-06-01 2024-05-31 10773985 d:ComputerEquipment 2024-05-31 10773985 d:ComputerEquipment 2023-05-31 10773985 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773985 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10773985 d:FreeholdInvestmentProperty 2023-06-01 2024-05-31 10773985 d:FreeholdInvestmentProperty 2024-05-31 10773985 d:CurrentFinancialInstruments 2024-05-31 10773985 d:CurrentFinancialInstruments 2023-05-31 10773985 d:Non-currentFinancialInstruments 2024-05-31 10773985 d:Non-currentFinancialInstruments 2023-05-31 10773985 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10773985 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10773985 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 10773985 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10773985 d:ShareCapital 2024-05-31 10773985 d:ShareCapital 2023-05-31 10773985 d:RetainedEarningsAccumulatedLosses 2024-05-31 10773985 d:RetainedEarningsAccumulatedLosses 2023-05-31 10773985 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-05-31 10773985 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-05-31 10773985 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 10773985 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 10773985 d:TaxLossesCarry-forwardsDeferredTax 2024-05-31 10773985 d:TaxLossesCarry-forwardsDeferredTax 2023-05-31 10773985 d:RetirementBenefitObligationsDeferredTax 2024-05-31 10773985 d:RetirementBenefitObligationsDeferredTax 2023-05-31 10773985 c:FRS102 2023-06-01 2024-05-31 10773985 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10773985 c:FullAccounts 2023-06-01 2024-05-31 10773985 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10773985 2 2023-06-01 2024-05-31 10773985 d:Right-of-useInvestmentProperty 2023-06-01 2024-05-31 10773985 d:Right-of-useInvestmentProperty 2024-05-31 10773985 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 10773985









CAMBRIDGE ROOF EXCHANGE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
CAMBRIDGE ROOF EXCHANGE LIMITED
REGISTERED NUMBER: 10773985

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,001,372
256,708

Investment property
 5 
670,295
-

  
1,671,667
256,708

CURRENT ASSETS
  

Stocks
  
29,307
95,716

Debtors
 6 
1,780,195
2,220,180

Cash at bank and in hand
  
83,510
663,348

  
1,893,012
2,979,244

Creditors: amounts falling due within one year
 7 
(924,610)
(1,465,386)

NET CURRENT ASSETS
  
 
 
968,402
 
 
1,513,858

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,640,069
1,770,566

Creditors: amounts falling due after more than one year
 8 
(971,755)
(117,560)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 10 
(53,098)
(52,261)

  
 
 
(53,098)
 
 
(52,261)

NET ASSETS
  
1,615,216
1,600,745


CAPITAL AND RESERVES
  

Called up share capital 
  
10
10

Profit and loss account
  
1,615,206
1,600,735

  
1,615,216
1,600,745


Page 1

 
CAMBRIDGE ROOF EXCHANGE LIMITED
REGISTERED NUMBER: 10773985
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M A Langley
Director

Date: 7 May 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
CAMBRIDGE ROOF EXCHANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


GENERAL INFORMATION

Cambridge Roof Exchange Limited (the Company) is a private company, limited by shares, incorporated  in England and Wales. The Company's registered office and principal trading address is Unit 2 Barton Court, 223 Barton Road, Comberton, CB23 7BU, United Kingdom.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
CAMBRIDGE ROOF EXCHANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

PENSIONS

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

CURRENT AND DEFERRED TAXATION

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
CAMBRIDGE ROOF EXCHANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.7
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
Plant and machinery
-
25%
Motor vehicles
-
25%
Office equipment
-
25%
Computer equipment
-
25%

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, 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 profit or loss.

 
2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
CAMBRIDGE ROOF EXCHANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 26 (2023 - 12).

Page 6
 


 
CAMBRIDGE ROOF EXCHANGE LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


4.


TANGIBLE FIXED ASSETS






Freehold property
Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 June 2023
-
8,542
317,520
45,718
19,403
391,183


Additions
696,755
1,292
125,410
4,616
14,539
842,612



At 31 May 2024

696,755
9,834
442,930
50,334
33,942
1,233,795



DEPRECIATION


At 1 June 2023
-
4,251
119,082
5,506
5,636
134,475


Charge for the year on owned assets
5,703
1,153
74,337
10,823
5,932
97,948



At 31 May 2024

5,703
5,404
193,419
16,329
11,568
232,423



NET BOOK VALUE



At 31 May 2024
691,052
4,430
249,511
34,005
22,374
1,001,372



At 31 May 2023
-
4,291
198,438
40,212
13,767
256,708

Page 7
 
CAMBRIDGE ROOF EXCHANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


INVESTMENT PROPERTY


Freehold investment property
Land held for development
Total

£
£
£



VALUATION


Additions at cost
536,674
133,621
670,295



AT 31 MAY 2024
536,674
133,621
670,295








6.


DEBTORS

2024
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Other debtors
3,462
3,550

3,462
3,550

DUE WITHIN ONE YEAR

Trade debtors
397,358
1,024,158

Amounts owed by joint ventures and associated undertakings
785,940
751,324

Other debtors
584,910
426,900

Prepayments and accrued income
8,525
14,248

1,780,195
2,220,180


Included within other debtors due within one year are loans to the director amounting to £268,309 (2023 - £200,427). The loans attract interest at the average official rate from 6 April 2024, having been interest-free until this point. The loans are repayable on demand.

Page 8

 
CAMBRIDGE ROOF EXCHANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
25,806
9,980

Trade creditors
649,737
822,853

Corporation tax
98,927
253,012

Other taxation and social security
77,216
110,569

Obligations under finance lease and hire purchase contracts
60,680
50,661

Other creditors
3,810
4,801

Accruals and deferred income
8,434
213,510

924,610
1,465,386


Other creditors include contributions of £3,810 (2023 - £2,367) payable to the Company's defined contribution pension scheme at the balance sheet date.
Bank loans include a Government backed 'bounce back' loan, which was drawn down in July 2020. This loan is 100% guaranteed by the Government with no interest or fees payable by the Company in the first 12 months. Interest is then charged at 2.5% per annum, and the repayments commenced in July 2021.
Bank loans also include a secured loan facility with Atom Bank PLC. The loan is secured over the freehold property owned, with further guarantees made by director and shareholder M Langley and associated company, Langley International Investments Limited.
Obligations under finance leases and hire purchase contracts are secured on the assets concerned.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
850,293
22,454

Net obligations under finance leases and hire purchase contracts
121,462
95,106

971,755
117,560


Bank loans include a Government backed 'bounce back' loan, which was drawn down in July 2020. This loan is 100% guaranteed by the Government with no interest or fees payable by the Company in the first 12 months. Interest is then charged at 2.5% per annum, and the repayments commenced in July 2021.
Bank loans also include a secured loan facility with Atom Bank PLC. The loan is secured over the freehold property owned, with further guarantees made by director and shareholder M Langley and associated company, Langley International Investments Limited.
Obligations under finance leases and hire purchase contracts are secured on the assets concerned.

Page 9

 
CAMBRIDGE ROOF EXCHANGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


FINANCIAL INSTRUMENTS

2024
2023
£
£

FINANCIAL ASSETS


Financial assets measured at fair value through profit or loss
83,510
663,348




Financial assets measured at fair value through profit or loss comprise...


10.


DEFERRED TAXATION




2024


£






At beginning of year
(52,261)


Charged to profit or loss
(837)



AT END OF YEAR
(53,098)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(58,297)
(52,007)

Tax losses carried forward
4,791
-

Pension surplus
408
(254)

(53,098)
(52,261)

 
Page 10