Registered number
05985549
C.L.A.D. Right Industrial Roofing & Cladding Limited
Unaudited Filleted Accounts
31 October 2024
C.L.A.D. Right Industrial Roofing & Cladding Limited
Registered number: 05985549
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 197,245 229,194
Current assets
Stocks 70,321 42,696
Debtors 4 21,938 45,307
Cash at bank and in hand 209,328 236,931
301,587 324,934
Creditors: amounts falling due within one year 5 (186,439) (214,488)
Net current assets 115,148 110,446
Total assets less current liabilities 312,393 339,640
Creditors: amounts falling due after more than one year 6 (48,948) (72,279)
Provisions for liabilities (8,351) (14,349)
Net assets 255,094 253,012
Capital and reserves
Called up share capital 100 100
Profit and loss account 254,994 252,912
Shareholders' funds 255,094 253,012
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R L Jones
Director
Approved by the board on 23 July 2025
C.L.A.D. Right Industrial Roofing & Cladding Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Motor Vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 152,145 67,988 149,189 369,322
Additions - 1,078 - 1,078
At 31 October 2024 152,145 69,066 149,189 370,400
Depreciation
At 1 November 2023 4,800 27,403 107,925 140,128
Charge for the year - 13,135 19,892 33,027
At 31 October 2024 4,800 40,538 127,817 173,155
Net book value
At 31 October 2024 147,345 28,528 21,372 197,245
At 31 October 2023 147,345 40,585 41,264 229,194
4 Debtors 2024 2023
£ £
Trade debtors 21,938 43,537
Other debtors - 1,770
21,938 45,307
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,516 2,976
Obligations under finance lease and hire purchase contracts 11,814 11,814
Trade creditors 121,674 166,369
Taxation and social security costs 46,484 30,304
Other creditors 2,951 3,025
186,439 214,488
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 41,928 50,163
Obligations under finance lease and hire purchase contracts 7,020 22,116
48,948 72,279
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 22,116 19,835
Secured bank loans 53,139 60,560
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R L Jones
Interest free no set terms for
repayments 464 (35,450) 35,012 26
464 (35,450) 35,012 26
9 Controlling party
The company's ultimate controlling party is the director Mr R L Jones.
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 7,020 22,116
Secured bank loans 45,444 53,139
8 Other information
C.L.A.D. Right Industrial Roofing & Cladding Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
92b Springvale Industrial Estate
Cwmbran
Torfaen
NP44 5BH
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