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Company No: 03830493 (England and Wales)

T G ROOFING LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

T G ROOFING LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

T G ROOFING LIMITED

BALANCE SHEET

As at 30 September 2024
T G ROOFING LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 70,932 94,865
70,932 94,865
Current assets
Stocks 1,000 1,000
Debtors 4 63,670 66,451
Cash at bank and in hand 2 21,749
64,672 89,200
Creditors: amounts falling due within one year 5 ( 70,838) ( 78,256)
Net current (liabilities)/assets (6,166) 10,944
Total assets less current liabilities 64,766 105,809
Creditors: amounts falling due after more than one year 6 ( 45,613) ( 71,998)
Provision for liabilities ( 13,411) ( 23,716)
Net assets 5,742 10,095
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 5,642 9,995
Total shareholders' funds 5,742 10,095

For the financial year ending 30 September 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 T G Roofing Limited (registered number: 03830493) were approved and authorised for issue by the Director on 25 June 2025. They were signed on its behalf by:

Mr L M Gibbs
Director
T G ROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
T G ROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

T G Roofing 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 Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.

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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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. Turnover is recognised when work has been completed.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 3

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 October 2023 130,530 6,063 136,593
Additions 5,495 400 5,895
Disposals ( 12,150) 0 ( 12,150)
At 30 September 2024 123,875 6,463 130,338
Accumulated depreciation
At 01 October 2023 39,609 2,119 41,728
Charge for the financial year 22,025 859 22,884
Disposals ( 5,206) 0 ( 5,206)
At 30 September 2024 56,428 2,978 59,406
Net book value
At 30 September 2024 67,447 3,485 70,932
At 30 September 2023 90,921 3,944 94,865

4. Debtors

2024 2023
£ £
Trade debtors 23,369 63,910
Other debtors 40,301 2,541
63,670 66,451

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 22,640 10,562
Trade creditors 15,348 19,681
Taxation and social security 11,095 24,142
Obligations under finance leases and hire purchase contracts (secured) 17,009 13,258
Other creditors 4,746 10,613
70,838 78,256

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,747 25,975
Obligations under finance leases and hire purchase contracts (secured) 31,866 46,023
45,613 71,998

The hire purchase contracts are secured on the company's fixed assets.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

Advances

Advances were made to the director in the year 30 September 2024 totalling £36,860, (2023: £nil) and repayments of £9,010 (2023: £nil) were made during the year. The loan is interest-free and repayable on demand. At the end of the reporting period the company was owed £27,850 (2023: £Nil) by the director.