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Registration number:
R.J. Collins Roofing Contractors Limited
for the Year Ended 31 December 2024
R.J. Collins Roofing Contractors Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
R.J. Collins Roofing Contractors Limited
Company Information
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Directors |
E W J Barrett E M C Barrett |
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Company secretary |
E M C Barrett |
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Registered office |
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Accountants |
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R.J. Collins Roofing Contractors Limited
(Registration number: 05721567)
Balance Sheet as at 31 December 2024
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Note |
31 December |
31 December |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
120,600 |
120,600 |
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Retained earnings |
(64,300) |
(96,405) |
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Shareholders' funds |
56,300 |
24,195 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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R.J. Collins Roofing Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company.
Going concern
After reviewing the company's forecasts the availability of finance from group undertakings, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Significant judgements and estimates
In the application of the Company’s accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements is in respect of revenue recognition and amounts recoverable on contracts in respect of construction contracts. |
R.J. Collins Roofing Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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Accounting policies (continued) |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable in respect of construction contracts. Turnover is reduced for customer rebates and other similar allowances.
Revenue from the sale of services is recognised gradually through the performance of a construction contract where the:
- company has transferred to the buyer the significant risks and rewards of the asset under construction;
- company retains no continuing involvement or control over the asset on completion of works;
- amount of revenue and associated costs can be measured reliably; and
- it is probable that the economic benefits associated with the contract will flow to the company.
Tax
Tax on profit 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 the profit as
reported in the profit and loss account because of items of income or expense that are taxable or deductible
in other years 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 year.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities and
the corresponding tax bases used to compute taxable profit. Deferred tax liabilities are generally recognised
for all taxable timing differences. Deferred tax assets are generally recognised for temporary differences to
the extent that it is probable that taxable profits will be available to utilise the timing difference.
Deferred tax liabilities and assets are measured at tax rates that are expected to apply in the period the
liability is settled or the asset realised. The measurement of deferred tax liabilities and assets reflects the
tax consequences in which the company expects to recover or settle the underlying amount of its assets and liabilities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
25% on reducing balance |
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Motor vehicles |
25% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
R.J. Collins Roofing Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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Accounting policies (continued) |
Amounts recoverable on contracts
Where the outcome of a construction contract can be estimated reliably, the amount recoverable on a contract is recognised at fair value less impairment losses. Fair value for a contract is based on the net sales value by reference to the stage of completion at the period end date less progress payments received from customers and any provision for contingencies. Impairment losses include provision for anticipated future contract losses and doubtful debts.
For a construction contract where the outcome cannot be estimated reliably, the amount recoverable on a contract is recognised at the cost incurred to the period end date less any provision for non-recovery.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are paid.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
R.J. Collins Roofing Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Tangible assets |
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Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Debtors |
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Current |
31 December |
31 December |
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Trade debtors |
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Amounts owed by group undertakings |
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Amounts recoverable on contracts |
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Other debtors |
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R.J. Collins Roofing Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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Creditors |
Creditors: amounts falling due within one year
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31 December |
31 December |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of guarantees not included in the balance sheet is £136,684 (2023 - £141,213). The company has a group contingent liability in respect of a statutory guarantee given by its parent undertaking to guarantee all outstanding liabilities of audit exempt subsidiary undertakings at 31 December 2024.
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Parent and ultimate parent undertaking |
The company's immediate parent is
The most senior parent entity producing publicly available financial statements is