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Registration number: 05608005

Walker Roofing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Walker Roofing Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Walker Roofing Limited

Company Information

Director

Mr James Francis Walker

Company secretary

Mrs Janine Walker

Registered office

2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ

Accountants

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
Littlehampton
West Sussex
BN16 3BZ

 

Walker Roofing Limited

(Registration number: 05608005)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

50,562

66,606

Current assets

 

Debtors

6

50,589

17,151

Cash at bank and in hand

 

155,369

232,837

 

205,958

249,988

Creditors: Amounts falling due within one year

7

(115,065)

(110,819)

Net current assets

 

90,893

139,169

Total assets less current liabilities

 

141,455

205,775

Provisions for liabilities

(3,796)

(7,013)

Net assets

 

137,659

198,762

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

137,559

198,662

Shareholders' funds

 

137,659

198,762

For the financial 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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 May 2025
 

 

Walker Roofing Limited

(Registration number: 05608005)
Balance Sheet as at 31 October 2024

.........................................
Mr James Francis Walker
Director

 

Walker Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ
United Kingdom

These financial statements were authorised for issue by the director on 29 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.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

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.

 

Walker Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

2

Accounting policies (continued)

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.

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

Plant & machinery

20% reducing balance

Fixtures & fittings

15% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Walker Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line

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.

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.

 

Walker Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 0).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

10,000

10,000

At 31 October 2024

10,000

10,000

Amortisation

At 1 November 2023

10,000

10,000

At 31 October 2024

10,000

10,000

Carrying amount

At 31 October 2024

-

-

 

Walker Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

8,517

180,696

22,003

211,216

Additions

209

-

-

209

At 31 October 2024

8,726

180,696

22,003

211,425

Depreciation

At 1 November 2023

6,284

120,239

18,087

144,610

Charge for the year

357

15,114

782

16,253

At 31 October 2024

6,641

135,353

18,869

160,863

Carrying amount

At 31 October 2024

2,085

45,343

3,134

50,562

At 31 October 2023

2,233

60,457

3,916

66,606

6

Debtors

Current

2024
£

2023
£

Trade debtors

40,977

11,207

Prepayments

9,612

3,360

Other debtors

-

2,584

 

50,589

17,151

 

Walker Roofing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

7,924

29,083

Trade creditors

 

36,046

21,013

Taxation and social security

 

68,975

58,722

Accruals and deferred income

 

2,120

2,001

 

115,065

110,819

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

7,924

29,083

7,924

29,083