IRIS Accounts Production v25.1.3.33 08487521 Board of Directors 30.6.23 29.6.24 29.6.24 27/6/2025 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084875212023-06-29084875212024-06-29084875212023-06-302024-06-29084875212022-06-30084875212022-07-012023-06-29084875212023-06-2908487521ns15:EnglandWales2023-06-302024-06-2908487521ns14:PoundSterling2023-06-302024-06-2908487521ns10:Director12023-06-302024-06-2908487521ns10:PrivateLimitedCompanyLtd2023-06-302024-06-2908487521ns10:SmallEntities2023-06-302024-06-2908487521ns10:Audited2023-06-302024-06-2908487521ns10:SmallCompaniesRegimeForDirectorsReport2023-06-302024-06-2908487521ns10:SmallCompaniesRegimeForAccounts2023-06-302024-06-2908487521ns10:FullAccounts2023-06-302024-06-2908487521ns10:Director22023-06-302024-06-2908487521ns10:Director32023-06-302024-06-2908487521ns10:Director42023-06-302024-06-2908487521ns10:Director52023-06-302024-06-2908487521ns10:Director62023-06-302024-06-2908487521ns10:RegisteredOffice2023-06-302024-06-2908487521ns5:CurrentFinancialInstruments2024-06-2908487521ns5:CurrentFinancialInstruments2023-06-2908487521ns5:Non-currentFinancialInstruments2024-06-2908487521ns5:Non-currentFinancialInstruments2023-06-2908487521ns5:ShareCapital2024-06-2908487521ns5:ShareCapital2023-06-2908487521ns5:RetainedEarningsAccumulatedLosses2024-06-2908487521ns5:RetainedEarningsAccumulatedLosses2023-06-2908487521ns5:LeaseholdImprovements2023-06-302024-06-2908487521ns5:PlantMachinery2023-06-302024-06-2908487521ns5:FurnitureFittings2023-06-302024-06-2908487521ns5:MotorVehicles2023-06-302024-06-2908487521ns5:ComputerEquipment2023-06-302024-06-2908487521ns5:LeaseholdImprovements2023-06-2908487521ns5:PlantMachinery2023-06-2908487521ns5:FurnitureFittings2023-06-2908487521ns5:LeaseholdImprovements2024-06-2908487521ns5:PlantMachinery2024-06-2908487521ns5:FurnitureFittings2024-06-2908487521ns5:LeaseholdImprovements2023-06-2908487521ns5:PlantMachinery2023-06-2908487521ns5:FurnitureFittings2023-06-2908487521ns5:MotorVehicles2023-06-2908487521ns5:ComputerEquipment2023-06-2908487521ns5:MotorVehicles2024-06-2908487521ns5:ComputerEquipment2024-06-2908487521ns5:MotorVehicles2023-06-2908487521ns5:ComputerEquipment2023-06-2908487521ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-2908487521ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-2908487521ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-06-2908487521ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-06-2908487521ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-2908487521ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-2908487521ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-06-2908487521ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-06-2908487521ns5:FinanceLeasesns5:BetweenOneFiveYears2024-06-2908487521ns5:FinanceLeasesns5:BetweenOneFiveYears2023-06-2908487521ns5:HirePurchaseContracts2024-06-2908487521ns5:HirePurchaseContracts2023-06-2908487521ns5:FinanceLeases2024-06-2908487521ns5:FinanceLeases2023-06-2908487521ns5:WithinOneYear2024-06-2908487521ns5:WithinOneYear2023-06-2908487521ns5:BetweenOneFiveYears2024-06-2908487521ns5:BetweenOneFiveYears2023-06-2908487521ns5:AllPeriods2024-06-2908487521ns5:AllPeriods2023-06-29
REGISTERED NUMBER: 08487521 (England and Wales)















ABSOLUTE ROOFING SOLUTIONS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 JUNE 2024






ABSOLUTE ROOFING SOLUTIONS LIMITED (REGISTERED NUMBER: 08487521)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ABSOLUTE ROOFING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 JUNE 2024







DIRECTORS: Mr A McManus
Mrs S McManus
Mr V A Pepperell
Mrs D L Pepperell
Mr L Yates
Mr M J Ross





REGISTERED OFFICE: Jubilee Works, Jubilee Estate
Gorsey Lane
Coleshill
Birmingham
West Midlands
B46 1JU





REGISTERED NUMBER: 08487521 (England and Wales)





AUDITORS: Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

ABSOLUTE ROOFING SOLUTIONS LIMITED (REGISTERED NUMBER: 08487521)

BALANCE SHEET
29 JUNE 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 681,404 632,649

CURRENT ASSETS
Stocks 42,988 43,165
Debtors 5 3,510,169 2,707,015
Cash at bank 148,431 155,874
3,701,588 2,906,054
CREDITORS
Amounts falling due within one year 6 3,148,877 2,407,409
NET CURRENT ASSETS 552,711 498,645
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,234,115

1,131,294

CREDITORS
Amounts falling due after more than one
year

7

(465,292

)

(471,340

)

PROVISIONS FOR LIABILITIES (94,763 ) (40,274 )
NET ASSETS 674,060 619,680

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 673,960 619,580
674,060 619,680

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





Mr A McManus - Director


ABSOLUTE ROOFING SOLUTIONS LIMITED (REGISTERED NUMBER: 08487521)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024


1. STATUTORY INFORMATION

Absolute Roofing Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods).

Revenue from contracts for roofing services is recognised by reference to the stage of completion when the stage of completion, costs incurred and cost 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - at varying rates on cost
Computer equipment - 25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit or loss.


ABSOLUTE ROOFING SOLUTIONS LIMITED (REGISTERED NUMBER: 08487521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JUNE 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under
finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital
element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ABSOLUTE ROOFING SOLUTIONS LIMITED (REGISTERED NUMBER: 08487521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to
the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities
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
.
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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs
are required to be recognised as part of the cost of stock or fixed assets.

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

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 21 ) .

ABSOLUTE ROOFING SOLUTIONS LIMITED (REGISTERED NUMBER: 08487521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JUNE 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 30 June 2023 41,819 188,189 49,131
Additions 7,582 4,679 8,532
Disposals - (841 ) -
At 29 June 2024 49,401 192,027 57,663
DEPRECIATION
At 30 June 2023 41,180 40,082 40,552
Charge for year 692 39,851 4,765
Eliminated on disposal - (151 ) -
At 29 June 2024 41,872 79,782 45,317
NET BOOK VALUE
At 29 June 2024 7,529 112,245 12,346
At 29 June 2023 639 148,107 8,579

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 30 June 2023 919,607 57,420 1,256,166
Additions 217,977 5,975 244,745
Disposals - - (841 )
At 29 June 2024 1,137,584 63,395 1,500,070
DEPRECIATION
At 30 June 2023 464,249 37,454 623,517
Charge for year 140,148 9,844 195,300
Eliminated on disposal - - (151 )
At 29 June 2024 604,397 47,298 818,666
NET BOOK VALUE
At 29 June 2024 533,187 16,097 681,404
At 29 June 2023 455,358 19,966 632,649

ABSOLUTE ROOFING SOLUTIONS LIMITED (REGISTERED NUMBER: 08487521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JUNE 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,154,432 1,977,465
Amounts owed by group undertakings 367,869 720
Amounts owed by participating interests 426,760 83,360
Other debtors 561,108 645,470
3,510,169 2,707,015

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts and finance leases (see note 8)
222,552

167,469
Trade creditors 1,986,015 1,620,519
Amounts owed to group undertakings - 39,276
Amounts owed to participating interests 55,043 4,296
Taxation and social security 237,777 133,249
Other creditors 637,490 432,600
3,148,877 2,407,409

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,667 26,667
Hire purchase contracts and finance leases (see note 8)
448,625

444,673
465,292 471,340

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
2024 2023 2024 2023
£    £    £    £   
Net obligations repayable:
Within one year 74,246 56,254 148,306 111,215
Between one and five years 268,960 151,144 179,665 293,529
343,206 207,398 327,971 404,744

ABSOLUTE ROOFING SOLUTIONS LIMITED (REGISTERED NUMBER: 08487521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JUNE 2024


8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 8,723 7,290
Between one and five years 240,673 42,333
249,396 49,623

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Hegney (Senior Statutory Auditor)
for and on behalf of Folkes Worton LLP

10. CONTINGENT LIABILITIES

Lloyds Bank Plc have an omnibus guarantee and set-off agreement in place securing all liabilities due to them within each individual company against the assets of all companies within the agreement. The companies included in this agreement are Absolute Group Holdings UK Limited, Absolute Building and Maintenance Limited, Absolute Roof Tiling Limited, Absolute Waterproofing Limited, Absolute Roofing Solutions Limited, Absolute Solar Solutions and Oakham Sheet Metal Company Limited as well as J.P.M. Press Brake Sections Limited.

11. ULTIMATE CONTROLLING PARTY

The parent company of Absolute Roofing Solutions Limited is Absolute Group Holdings Limited and its registered office is Jubilee Works Gorsey Lane, Coleshill, Birmingham, England, B46 1JU.