REGISTERED NUMBER: 00815272 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2024

for

Midland Felt Roofing Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Snell

Miss L L Greenaway

D Jones

O Jones

SECRETARY:

P Snell

REGISTERED OFFICE:

Field Barn

Woodleys

Woodstock

Oxfordshire

OX20 1HZ

REGISTERED NUMBER:

00815272 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

BANKERS:

Coutts & Co

440 Strand

London

WC2R 0QS

FIXED ASSETS

Tangible assets

4

112,902

90,315

CURRENT ASSETS

Stocks

147,027

143,085

Debtors

1,073,647

1,259,854

Cash at bank

1,207,182

738,123

2,427,856

2,141,062

CREDITORS

Amounts falling due within one year

1,054,478

1,127,956

NET CURRENT ASSETS

1,373,378

1,013,106

TOTAL ASSETS LESS CURRENT LIABILITIES

1,486,280

1,103,421

PROVISIONS FOR LIABILITIES

28,256

22,579

NET ASSETS

1,458,024

1,080,842

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

1,453,024

1,075,842

SHAREHOLDERS' FUNDS

1,458,024

1,080,842

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 15 September 2025 and were signed on its behalf by:

P Snell - Director

1.	STATUTORY INFORMATION

Midland Felt Roofing Limited 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 recognised at the fair value of the consideration received or receivable for roof contracting services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

-

25% on cost

Office equipment

-

20% on cost

Motor vehicles

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Contracts, work in progress and turnover recognition

Turnover and attributable profit is recognised on all contracts according to the stage of completion, where the eventual outcome of the contract can be reliably foreseen. Attributable turnover on such contracts not yet invoiced at the year end is recognised in debtors.

Where the outcome of a contract in progress at the year end cannot be reliably foreseen, the net costs of the contract are included within work in progress after deducting payments received on account.

Where a long term contract is considered to be loss making, the whole of the foreseeable loss is recognised immediately.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

551,680

Additions

69,990

Disposals

(38,111

)

At 31 December 2024

583,559

DEPRECIATION

At 1 January 2024

461,365

Charge for year

43,071

Eliminated on disposal

(33,779

)

At 31 December 2024

470,657

NET BOOK VALUE

At 31 December 2024

112,902

At 31 December 2023

90,315