REGISTERED NUMBER: 07002052 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

PRIORITY ROOFING (NORTH WEST) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

R G Young

D Boardman

G B Gibson

Registered office:

29A Dickenson Street

Warrington

Cheshire

WA2 7EZ

Registered number:

07002052 (England and Wales)

Accountants:

S&W Partners (Manchester) Limited

Accountants

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Tangible assets

5

70,024

57,649

Current assets

Stocks

120,113

107,415

Debtors

6

909,174

994,593

Cash at bank and in hand

62,040

28,193

1,091,327

1,130,201

Creditors

Amounts falling due within one year

7

398,936

495,919

Net current assets

692,391

634,282

Total assets less current liabilities

762,415

691,931

Creditors

Amounts falling due after more than one year

8

(26,413

)

(54,672

)

Provisions for liabilities

(16,927

)

(13,796

)

Net assets

719,075

623,463

Capital and reserves

Called up share capital

11

85

85

Capital redemption reserve

15

15

Retained earnings

718,975

623,363

Shareholders' funds

719,075

623,463

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

R G Young - Director

1.	Statutory information

Priority Roofing (North West) 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future event that are believed to be reasonable under the circumstances.

There are not considered to be any critical judgements in applying the company's accounting policies.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are not considered to be any critical estimates used in preparing these financial statements.

Turnover

Turnover represents net invoiced sales of roofing work, excluding value added tax. Turnover is recognised as the the contract progresses.

Tangible fixed assets

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

Fixtures and fittings

-

25% straight line

Motor vehicles

-

25% straight line

Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use.

Stocks

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

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, loans to fellow group companies and cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the profit or loss.

There are no assets which are initially measured at fair value.

(ii) 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	Employees and directors

The average number of employees during the year was 26 (2023 - 20 ) .

5.	Tangible fixed assets

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

Cost

At 1 January 2024

5,389

267,985

273,374

Additions

-

40,157

40,157

At 31 December 2024

5,389

308,142

313,531

Depreciation

At 1 January 2024

2,851

212,874

215,725

Charge for year

949

26,833

27,782

At 31 December 2024

3,800

239,707

243,507

Net book value

At 31 December 2024

1,589

68,435

70,024

At 31 December 2023

2,538

55,111

57,649

Included within the net book value of tangible fixed assets is £21,038 (2023 - £52,595) in respect of assets held under finance lease agreements. Depreciation for the year on these assets was £5,068 (2023 - £29,429).

6.

Debtors

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

454,859

394,829

Amounts owed by group undertakings

81,623

131,623

Other debtors

152,078

257,946

688,560

784,398

Amounts falling due after more than one year:

Trade debtors

220,614

210,195

Aggregate amounts

909,174

994,593

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

28,400

17,930

Hire purchase contracts (see note 9)

7,748

10,146

Trade creditors

370,975

556,864

Taxation and social security

88,519

71,472

Other creditors

(96,706

)

(160,493

)

398,936

495,919

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans

14,200

53,070

Hire purchase contracts (see note 9)

12,213

1,602

26,413

54,672

9.	Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

£

Net obligations repayable:

Within one year

7,748

10,146

Between one and five years

12,213

1,602

19,961

11,748

10.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

42,600

71,000

Hire purchase contracts

19,961

11,748

62,561

82,748

Obligations under finance leases and hire purchase contracts are secured on the assets on which the contract was taken out.

The invoice discounting balance is secured by a debenture over all assets of the company.

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

85

Ordinary

£1

85

85

12.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with the other member of the group.

13.	Ultimate controlling party

The company is a 100% subsidiary of Bobby Young Limited. Robert Young is the ultimate controlling party as he owns 51% of the ordinary share capital of Bobby Young Limited.