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Registration number: 03865902

Imperial Roofing Supplies UK Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Imperial Roofing Supplies UK Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Imperial Roofing Supplies UK Ltd

Company Information

Directors

Mr Joseph Andrew Carnan

Mr Patrick Carnan

Mr Ian Beckett

Registered office

Unit 23
Syston Road
Cossington
Leicestershire
LE7 4UZ

Accountants

Fosse Accountants Limited
Chartered Certified Accountants
23 St Johns
Enderby
Leicester
Leicestershire
LE19 2BR

 

Imperial Roofing Supplies UK Ltd

(Registration number: 03865902)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

104,907

140,697

Current assets

 

Stocks

5

404,581

407,332

Debtors

6

507,910

406,255

Cash at bank and in hand

 

67,797

105,966

 

980,288

919,553

Creditors: Amounts falling due within one year

7

(528,578)

(481,625)

Net current assets

 

451,710

437,928

Total assets less current liabilities

 

556,617

578,625

Creditors: Amounts falling due after more than one year

7

(23,056)

(62,392)

Provisions for liabilities

(29,247)

(37,678)

Net assets

 

504,314

478,555

Capital and reserves

 

Called up share capital

8

2

2

Capital redemption reserve

(66,667)

(108,333)

Retained earnings

570,979

586,886

Shareholders' funds

 

504,314

478,555

For the financial year ending 31 March 2025 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.

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.

 

Imperial Roofing Supplies UK Ltd

(Registration number: 03865902)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 30 May 2025 and signed on its behalf by:
 

.........................................
Mr Joseph Andrew Carnan
Director

   
     
 

Imperial Roofing Supplies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
Unit 23
Syston Road
Cossington
Leicestershire
LE7 4UZ
England

These financial statements were authorised for issue by the Board on 30 May 2025.

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.

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 sales/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.

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.

 

Imperial Roofing Supplies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Motor Vehicles

25% Reducing Balance

Plant and machinery

20% Reducing Balance

Fixtures, fittings, tools and equipment

15% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Imperial Roofing Supplies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 7).

 

Imperial Roofing Supplies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

50,015

161,545

211,560

Additions

1,500

-

1,500

Disposals

-

(22,950)

(22,950)

At 31 March 2025

51,515

138,595

190,110

Depreciation

At 1 April 2024

28,730

42,133

70,863

Charge for the year

3,352

28,492

31,844

Eliminated on disposal

-

(17,504)

(17,504)

At 31 March 2025

32,082

53,121

85,203

Carrying amount

At 31 March 2025

19,433

85,474

104,907

At 31 March 2024

21,285

119,412

140,697

5

Stocks

2025
£

2024
£

Other inventories

404,581

407,332

6

Debtors

Current

2025
£

2024
£

Trade debtors

507,910

406,255

 

507,910

406,255

 

Imperial Roofing Supplies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

39,336

46,264

Trade creditors

 

346,804

311,705

Taxation and social security

 

128,417

113,185

Accruals and deferred income

 

4,027

1,038

Other creditors

 

9,994

9,433

 

528,578

481,625

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

23,056

62,392

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

Imperial Roofing Supplies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

1,667

11,667

Other borrowings

21,389

50,725

23,056

62,392

Current loans and borrowings

2025
£

2024
£

Bank borrowings

10,000

10,000

Other borrowings

29,336

36,264

39,336

46,264

Bank borrowings

Business Bounceback Loan is denominated in pounds sterling with a nominal interest rate of 1.72%, and the final instalment is due on 6 May 2026. The carrying amount at year end is £11,667 (2024 - £21,667).

Other borrowings

Inveco Capital is denominated in pounds sterling with a nominal interest rate of 3.77%, and the final instalment is due on 1 September 2025. The carrying amount at year end is £3,688 (2024 - £11,063).

The HP agreement is secured against a Iveco lorry.

MI Finance is denominated in pounds sterling with a nominal interest rate of 5.09%, and the final instalment is due on 13 August 2025. The carrying amount at year end is £2,315 (2024 - £7,870).

This HP agreement is secured against a Ford Transit van.

Propel Finance is denominated in pounds sterling with a nominal interest rate of 4.97%, and the final instalment is due on 25 February 2027. The carrying amount at year end is £44,722 (2024 - £68,056).

This HP agreement is secured against a forklift lorry.

 

Imperial Roofing Supplies UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10

Dividends

2025

2024

£

£

Interim dividend of £50,203.00 (2024 - £93,101.00) per ordinary share

100,406

77,869

 

 

Recommended final dividends paid and not recognised in the accounts

The directors are recommending the following final dividends:

£18,000.00 (2024 - £20,000.00) per each Ordinary shares share totalling £36,000 (2024 - £40,000.00)

These dividends have not been accrued in the balance sheet.

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

59,472

23,467

Contributions paid to money purchase schemes

1,321

4,040

60,793

27,507

Summary of transactions with other related parties

During the year, consultancy fees paid under legal and professional fees were paid to Mrs Beckett, who is the spouse of one of the directors, Mr Ian Beckett. Mrs Beckett had been appointed as a consultant for the company since 2017, and continues to act in the same capacity after the appointment of Mr Ian Beckett in December 2023.
 

Expenditure with and payables to related parties

2025

Other related parties
£

Rendering of services

13,200

2024

Other related parties
£

Rendering of services

15,950