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Registration number: 04195350

Hodge Single Ply Roofing Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Hodge Single Ply Roofing Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Hodge Single Ply Roofing Limited

Company Information

Directors

Mrs BG Hodge

GJ Hodge

Company secretary

Mrs BG Hodge

Registered office

34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

 

Hodge Single Ply Roofing Limited

(Registration number: 04195350)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

97,540

105,063

Current assets

 

Stocks

5

27,400

29,750

Debtors

6

764,141

1,263,387

Cash at bank and in hand

 

1,357,874

516,658

 

2,149,415

1,809,795

Creditors: Amounts falling due within one year

7

(303,320)

(358,276)

Net current assets

 

1,846,095

1,451,519

Total assets less current liabilities

 

1,943,635

1,556,582

Creditors: Amounts falling due after more than one year

7

(5,943)

(29,131)

Provisions for liabilities

(24,385)

(26,266)

Net assets

 

1,913,307

1,501,185

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

1,913,207

1,501,085

Shareholders' funds

 

1,913,307

1,501,185

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Hodge Single Ply Roofing Limited

(Registration number: 04195350)
Balance Sheet as at 31 December 2024

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 July 2025 and signed on its behalf by:
 

.........................................
GJ Hodge
Director

 

Hodge Single Ply Roofing Limited

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

1

General information

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

The address of its registered office is:
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF
United Kingdom

The principal place of business is:
11 Warne Park
Warne Road
Weston-super-Mare
Somerset
BS23 3TP
United Kingdom

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.

The presentation currency of the financial statements is the Pound Sterling (£). All monetary amounts are rounded to the nearest pound.

 

Hodge Single Ply Roofing Limited

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

2

Accounting policies (continued)

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 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.

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.

 

Hodge Single Ply Roofing Limited

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

2

Accounting policies (continued)

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

Improvements to leasehold property

Straight line over 10 years

Furniture, fixtures and equipment

15% reducing balance/straight line over 3 years

Motor vehicles

25% reducing balance

Property, plant and equipment

15% reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

 

Hodge Single Ply Roofing Limited

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

2

Accounting policies (continued)

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Hodge Single Ply Roofing Limited

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

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

3

Staff numbers

The average number of persons employed by the company during the year, was 12 (2023 - 13).

 

Hodge Single Ply Roofing Limited

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

4

Tangible assets

Improvements to leasehold property
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Property, plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

12,954

32,259

184,183

79,865

309,261

Additions

-

-

26,021

-

26,021

Disposals

-

-

(18,270)

-

(18,270)

At 31 December 2024

12,954

32,259

191,934

79,865

317,012

Depreciation

At 1 January 2024

12,954

28,639

100,547

62,058

204,198

Charge for the year

-

1,560

26,805

2,740

31,105

Eliminated on disposal

-

-

(15,831)

-

(15,831)

At 31 December 2024

12,954

30,199

111,521

64,798

219,472

Carrying amount

At 31 December 2024

-

2,060

80,413

15,067

97,540

At 31 December 2023

-

3,620

83,636

17,807

105,063

 

Hodge Single Ply Roofing Limited

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

4

Tangible assets (continued)

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

 

2024
£

2023
£

Motor vehicles

40,856

54,474

     

5

Stocks

2024
£

2023
£

Other inventories

27,400

29,750

6

Debtors

Current

2024
£

2023
£

Trade debtors

347,605

710,319

Prepayments

16,351

17,293

Other debtors

400,185

535,775

 

764,141

1,263,387

 

Hodge Single Ply Roofing Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

23,188

22,252

Trade creditors

 

62,879

55,796

Taxation and social security

 

194,286

257,385

Accruals and deferred income

 

21,409

21,879

Other creditors

 

1,558

964

 

303,320

358,276


Creditors falling due within one year include net obligations under finance lease and hire purchase contracts which are secured of £23,188 (2023 - £22,251).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

5,943

29,131


Creditors falling due after more than one year include net obligations under finance lease and hire purchase contracts which are secured of £5,943 (2023 - £29,131).

 

Hodge Single Ply Roofing Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

5,943

29,131

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

23,188

22,252

9

Deferred tax and other provisions

Deferred tax
£

Total
£

At 1 January 2024

26,266

26,266

Increase (decrease) in existing provisions

(1,881)

(1,881)

At 31 December 2024

24,385

24,385

On 4 November 2022 the company received an Accelerated Payment Notice (APN) relating to PAYE and NIC considered due by HM Revenue & Customs in respect of a remuneration scheme undertaken in the year ended 5 April 2015. The directors were of the opinion that the payments made to the scheme would not result in a PAYE or NIC liability and as such, no provision has previously been made in the financial statements for any amounts that may be due. It has not been proven that PAYE and NIC is due on the amounts involved but the APN has been issued and, as the company has no right to appeal an APN, it paid the amount considered to be due in January 2023. A provision for the amount paid was included in the financial statements which is being shown as a payment on account within other debtors until formal settlement of the scheme is reached.

As of the date the balance sheet was signed, no correspondence has been received regarding the finalisation of the HM Revenue and Customs decision.

 

Hodge Single Ply Roofing Limited

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

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

11

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

GJ and Mrs BG Hodge

Directors loan account

59,898

52,632

(112,921)

(391)

         
       

 

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

GJ and Mrs BG Hodge

Directors loan account

78,483

1,759,915

(1,778,500)

59,898

         
       

 


Beneficial loan interest has been charged on the overdrawn loan balance at HMRC's official rate of interest.

Following repayment of the loan, the directors consider the credit loan balance as being interest free and repayable on demand.