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Registered number: 01402605
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Roofclad Systems Ltd
(formally known as Mitrepoint Ltd)
Financial statements
Information for filing with the registrar
31 March 2025
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Roofclad Systems Ltd (formally known as Mitrepoint Ltd)
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Balance sheet
At 31 March 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Capital redemption reserve
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1
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Roofclad Systems Ltd (formally known as Mitrepoint Ltd)
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Balance sheet (continued)
At 31 March 2025
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2025.
Company registered number: 01402605
The notes on pages 3 to 7 form part of these financial statements.
2
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Roofclad Systems Ltd (formally known as Mitrepoint Ltd)
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Notes to the financial statements
Year ended 31 March 2025
Mitrepoint Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is given in the company information page of this annual report.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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Operating leases: the company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
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Roofclad Systems Ltd (formally known as Mitrepoint Ltd)
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Notes to the financial statements
Year ended 31 March 2025
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as shown below.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
4
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Roofclad Systems Ltd (formally known as Mitrepoint Ltd)
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Notes to the financial statements
Year ended 31 March 2025
2.Accounting policies (continued)
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Stocks and work in progress
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Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is based on a last in first out basis and net realisable value is based on estimated selling price.
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
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The average monthly number of employees, including directors, during the year was 38 (2024 - 35).
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5
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Roofclad Systems Ltd (formally known as Mitrepoint Ltd)
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Notes to the financial statements
Year ended 31 March 2025
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Long-term leasehold property
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Amounts owed by related party
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Prepayments and accrued income
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6
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Roofclad Systems Ltd (formally known as Mitrepoint Ltd)
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Notes to the financial statements
Year ended 31 March 2025
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Creditors: amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Related party transactions
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During the year the company operated a loan account with Roofclad Fabrications Limited, a company in which A W Tilley is a director. At the year end the company was owed £Nil (2024: £82,619). The loan is unsecured, interest free and repayable on demand.
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7
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