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Registered number: 09913564
Westward Roofing Services Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09913564
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,000 3,000
Tangible Assets 5 176,175 146,058
178,175 149,058
CURRENT ASSETS
Stocks 6 248,000 193,000
Debtors 7 442,975 525,985
Cash at bank and in hand 161,724 94,295
852,699 813,280
Creditors: Amounts Falling Due Within One Year 8 (513,836 ) (502,773 )
NET CURRENT ASSETS (LIABILITIES) 338,863 310,507
TOTAL ASSETS LESS CURRENT LIABILITIES 517,038 459,565
Creditors: Amounts Falling Due After More Than One Year 9 (60,762 ) (97,405 )
NET ASSETS 456,276 362,160
CAPITAL AND RESERVES
Called up share capital 12 2 2
Profit and Loss Account 456,274 362,158
SHAREHOLDERS' FUNDS 456,276 362,160
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Michael William Priestley
Director
21st August 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
Westward Roofing Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09913564 . The registered office is The Old Hillside Garage, Little Polgooth, St Austell, PL26 7DD.
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 ten years.
2.4. 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:
Freehold Not depreciated
Plant & Machinery 25% per annum reducing balance
Motor Vehicles 25% per annum reducing balance
2.5. 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 the profit and loss account as incurred.
2.6. 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.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 year 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred 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: 5 (2023: 4)
5 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 10,000
As at 30 November 2024 10,000
Amortisation
As at 1 December 2023 7,000
Provided during the period 1,000
As at 30 November 2024 8,000
Net Book Value
As at 30 November 2024 2,000
As at 1 December 2023 3,000
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 December 2023 3,617 106,146 144,944 254,707
Additions - 31,398 49,750 81,148
As at 30 November 2024 3,617 137,544 194,694 335,855
...CONTINUED
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Depreciation
As at 1 December 2023 - 59,962 48,687 108,649
Provided during the period - 14,529 36,502 51,031
As at 30 November 2024 - 74,491 85,189 159,680
Net Book Value
As at 30 November 2024 3,617 63,053 109,505 176,175
As at 1 December 2023 3,617 46,184 96,257 146,058
6. Stocks
2024 2023
£ £
Materials 45,000 38,000
Work in progress 203,000 155,000
248,000 193,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 386,779 470,887
Prepayments and accrued income 249 249
VAT 55,947 54,849
442,975 525,985
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,634 13,959
Trade creditors 305,432 278,504
Bank loans and overdrafts 17,803 31,992
Corporation tax 78,204 63,387
Other taxes and social security 27,360 56,429
Other loans 3,300 3,300
Accruals and deferred income 23,021 27,747
Director's loan account 33,082 27,455
513,836 502,773
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 49,745 68,596
Bank loans 11,017 28,809
60,762 97,405
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10. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 7,803 29,788
Other Creditors 75,379 82,555
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 25,634 13,959
Later than one year and not later than five years 49,745 68,596
75,379 82,555
75,379 82,555
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
13. Directors Advances, Credits and Guarantees
The director has given a personal guarantee for the bank loan disclosed in creditors
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