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Registered number: 11465590
Stay-Dry Roofing (SW) Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11465590
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 75,599 94,499
Tangible Assets 5 230,353 133,058
305,952 227,557
CURRENT ASSETS
Stocks 6 93,700 36,500
Debtors 7 551,810 267,944
Cash at bank and in hand 22,174 223,388
667,684 527,832
Creditors: Amounts Falling Due Within One Year 8 (395,641 ) (317,880 )
NET CURRENT ASSETS (LIABILITIES) 272,043 209,952
TOTAL ASSETS LESS CURRENT LIABILITIES 577,995 437,509
Creditors: Amounts Falling Due After More Than One Year 9 (205,137 ) (200,304 )
NET ASSETS 372,858 237,205
CAPITAL AND RESERVES
Called up share capital 11 204 203
Profit and Loss Account 372,654 237,002
SHAREHOLDERS' FUNDS 372,858 237,205
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Sarah Sheppard
Director
1 July 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stay-Dry Roofing (SW) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11465590 . The registered office is 3 Stoke Damerel Business Centre, 5 Church Street, Plymouth, Devon, PL3 4DT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are property rights of £1. Due to the small value, no amortisation is calculated or charged to the profit and loss account.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
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2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 21)
21 21
4. Intangible Assets
Goodwill Property rights Total
£ £ £
Cost
As at 1 November 2023 188,998 1 188,999
As at 31 October 2024 188,998 1 188,999
Amortisation
As at 1 November 2023 94,500 - 94,500
Provided during the period 18,900 - 18,900
As at 31 October 2024 113,400 - 113,400
...CONTINUED
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Net Book Value
As at 31 October 2024 75,598 1 75,599
As at 1 November 2023 94,498 1 94,499
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2023 63,354 166,267 229,621
Additions 17,818 155,820 173,638
Disposals - (27,998 ) (27,998 )
As at 31 October 2024 81,172 294,089 375,261
Depreciation
As at 1 November 2023 42,176 54,387 96,563
Provided during the period 7,963 52,632 60,595
Disposals - (12,250 ) (12,250 )
As at 31 October 2024 50,139 94,769 144,908
Net Book Value
As at 31 October 2024 31,033 199,320 230,353
As at 1 November 2023 21,178 111,880 133,058
6. Stocks
2024 2023
£ £
Stock 700 1,500
Work in progress 93,000 35,000
93,700 36,500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 498,865 266,039
Other debtors 605 1,905
VAT debtor 52,340 -
551,810 267,944
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,666 34,417
Trade creditors 190,659 96,954
Bank loans and overdrafts 27,687 20,871
Corporation tax 126,477 81,288
Other taxes and social security 22,831 20,136
VAT - 54,902
Other creditors 1,952 8,869
Directors' loan accounts 369 443
395,641 317,880
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 95,873 61,272
Bank loans 109,264 139,032
205,137 200,304
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 25,666 34,417
Later than one year and not later than five years 95,873 61,272
121,539 95,689
121,539 95,689
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 204 203
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