1 May 2024 v2025.45.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP033475632024-05-012025-04-30033475632025-04-30033475632024-04-3003347563core:WithinOneYear2025-04-3003347563core:WithinOneYear2024-04-3003347563core:AfterOneYear2025-04-3003347563core:AfterOneYear2024-04-3003347563core:ShareCapital2025-04-3003347563core:ShareCapital2024-04-3003347563core:RetainedEarningsAccumulatedLosses2025-04-3003347563core:RetainedEarningsAccumulatedLosses2024-04-3003347563bus:Director12024-05-012025-04-3003347563bus:RegisteredOffice2024-05-012025-04-3003347563core:PlantMachinery2024-05-012025-04-30033475632023-05-012024-04-3003347563core:PlantMachinery2024-05-0103347563core:PlantMachinery2025-04-3003347563core:PlantMachinery2024-04-300334756312024-05-012025-04-3003347563countries:EnglandWales2024-05-012025-04-3003347563bus:AuditExempt-NoAccountantsReport2024-05-012025-04-3003347563bus:PrivateLimitedCompanyLtd2024-05-012025-04-3003347563bus:SmallEntities2024-05-012025-04-3003347563bus:FullAccounts2024-05-012025-04-30
Company registration number:
03347563
Karl Terry Roofing Contractors Limited
Unaudited Filleted Financial Statements for the year ended
30 April 2025
Karl Terry Roofing Contractors Limited
Statement of Financial Position
30 April 2025
20252024
Note££
Fixed assets    
Tangible assets 5
66,086
 
59,002
 
Current assets    
Stocks
111,028
 
151,164
 
Debtors 6
62,529
 
55,097
 
Cash at bank and in hand
(35,949
)
(44,291
)
137,608
 
161,970
 
Creditors: amounts falling due within one year 7
(165,948
)
(166,753
)
Net current liabilities
(28,340
)
(4,783
)
Total assets less current liabilities 37,746   54,219  
Creditors: amounts falling due after more than one year 8
(36,765
)
(48,864
)
Net assets
981
 
5,355
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
979
 
5,353
 
Shareholders funds
981
 
5,355
 
For the year ending
30 April 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
24 July 2025
, and are signed on behalf of the board by:
K Terry
Director
Company registration number:
03347563
Karl Terry Roofing Contractors Limited
Notes to the Financial Statements
Year ended
30 April 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Summer House, The Street
,
Wittersham
,
Tenterden
,
Kent
,
TN30 7EA
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
5% and 25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4 Average number of employees

The average number of persons employed by the company during the year was
12
(2024:
13.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 May 2024
155,251
 
Additions
11,500
 
Disposals
(14,999
)
At
30 April 2025
151,752
 
Depreciation  
At
1 May 2024
96,249
 
Charge
4,416
 
Disposals
(14,999
)
At
30 April 2025
85,666
 
Carrying amount  
At
30 April 2025
66,086
 
At 30 April 2024
59,002
 

6 Debtors

20252024
££
Trade debtors
58,706
 
51,872
 
Other debtors
3,823
 
3,225
 
62,529
 
55,097
 

7 Creditors: amounts falling due within one year

20252024
££
Bank loans and overdrafts
10,000
 
10,000
 
Trade creditors
73,943
 
78,501
 
Taxation and social security
39,153
 
29,275
 
Other creditors
42,852
 
48,977
 
165,948
 
166,753
 

8 Creditors: amounts falling due after more than one year

20252024
££
Bank loans and overdrafts
1,667
 
11,667
 
Other creditors
35,098
 
37,197
 
36,765
 
48,864