Phillips Traditional Metal Roofing Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 13816121 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Phillips Traditional Metal Roofing Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M H Phillips

Mrs L J Phillips

REGISTERED OFFICE:

1 The Lawns

Abbeydale

Gloucester

Gloucestershire

GL4 5YD

REGISTERED NUMBER:

13816121 (England and Wales)

ACCOUNTANTS:

HATS Gloucester Ltd

48 Hucclecote Road

Gloucester

Gloucestershire

GL3 3RS

BANKERS:

Starling Bank

5th Floor

London Fruit & Wool Exchange

1 Duval Square

London

E1 6PW

FIXED ASSETS

Tangible assets

4

7,948

9,565

CURRENT ASSETS

Stocks

19,830

8,000

Debtors

5

12,079

4,650

Cash at bank

16,628

19,443

48,537

32,093

CREDITORS

Amounts falling due within one year

6

53,676

24,576

NET CURRENT (LIABILITIES)/ASSETS

(5,139

)

7,517

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,809

17,082

PROVISIONS FOR LIABILITIES

1,987

2,391

NET ASSETS

822

14,691

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

722

14,591

SHAREHOLDERS' FUNDS

822

14,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2025 and were signed on its behalf by:

M H Phillips - Director

1.	STATUTORY INFORMATION

Phillips Traditional Metal Roofing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

Cost

At 1 January 2024

14,815

200

15,015

Additions

437

-

437

At 31 December 2024

15,252

200

15,452

Depreciation

At 1 January 2024

5,317

133

5,450

Charge for year

1,987

67

2,054

At 31 December 2024

7,304

200

7,504

Net book value

At 31 December 2024

7,948

-

7,948

At 31 December 2023

9,498

67

9,565

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

Trade debtors

3,298

-

Other debtors

8,781

4,650

12,079

4,650

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

Trade creditors

1,171

798

Taxation and social security

12,738

22,667

Other creditors

39,767

1,111

53,676

24,576

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/24

31/12/23

£

Within one year

7,000

-

Between one and five years

12,833

-

19,833

-

8.	RELATED PARTY DISCLOSURES

M H Phillips & Mrs L J Phillips

Directors

The directors have loaned money to the company. At 31 December 2024, the company owed the directors £38,717 (2023 - £148). This unsecured loan is interest free and has no fixed repayment terms.