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Company No: 02305564 (England and Wales)

WEST LONDON INDUSTRIAL ROOFING & BUILDING SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

WEST LONDON INDUSTRIAL ROOFING & BUILDING SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

WEST LONDON INDUSTRIAL ROOFING & BUILDING SERVICES LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2024
WEST LONDON INDUSTRIAL ROOFING & BUILDING SERVICES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2024
DIRECTOR Mr C Hobbs
Mr L Hobbs (Resigned 24 June 2024)
SECRETARY Ms S J Hobbs
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
BUSINESS ADDRESS 51 Freemans Close
Stoke Poges
Slough
Berkshire
SL2 4ER
COMPANY NUMBER 02305564 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
WEST LONDON INDUSTRIAL ROOFING & BUILDING SERVICES LIMITED

BALANCE SHEET

As at 31 July 2024
WEST LONDON INDUSTRIAL ROOFING & BUILDING SERVICES LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 13,097 17,461
Investments 4 3,006 3,006
16,103 20,467
Current assets
Debtors 5 122,850 322,645
Cash at bank and in hand 837,751 310,283
960,601 632,928
Creditors: amounts falling due within one year 6 ( 203,654) ( 215,246)
Net current assets 756,947 417,682
Total assets less current liabilities 773,050 438,149
Provision for liabilities ( 3,274) ( 4,365)
Net assets 769,776 433,784
Capital and reserves
Called-up share capital 100 100
Profit and loss account 769,676 433,684
Total shareholders' funds 769,776 433,784

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of West London Industrial Roofing & Building Services Limited (registered number: 02305564) were approved and authorised for issue by the Director on 13 May 2025. They were signed on its behalf by:

Mr C Hobbs
Director
WEST LONDON INDUSTRIAL ROOFING & BUILDING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
WEST LONDON INDUSTRIAL ROOFING & BUILDING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

West London Industrial Roofing & Building Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom. The principal place of business is 51 Freemans Close, Stoke Poges, Slough, Berkshire, SL2 4ER.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

Revenue from contracts for the provision of professional services 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 it is probable will be recovered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounts to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is estimated to be less than its recoverable amount. The impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment loss are reversed if, and only if, the reasons for the impairment loss have ceased to apply, where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 August 2023 1,547 40,871 23,070 65,488
At 31 July 2024 1,547 40,871 23,070 65,488
Accumulated depreciation
At 01 August 2023 1,546 24,665 21,816 48,027
Charge for the financial year 0 4,051 313 4,364
At 31 July 2024 1,546 28,716 22,129 52,391
Net book value
At 31 July 2024 1 12,155 941 13,097
At 31 July 2023 1 16,206 1,254 17,461

4. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 201 201
Other investments and loans 2,805 2,805
3,006 3,006

5. Debtors

2024 2023
£ £
Trade debtors 114,294 293,187
Prepayments 7,666 3,005
VAT recoverable 0 26,453
Other debtors 890 0
122,850 322,645

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 43,061 61,547
Amounts owed to director 22,246 11,507
Accruals 12,050 23,050
Taxation and social security 119,924 115,959
Other creditors 6,373 3,183
203,654 215,246

7. Related party transactions

Dividends totaling £0 (2023: £200,000) were paid in the year in respect of shares.

At the reporting date the company owed £22,246 (2023: £11,507) to the director of the company.