Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Cynthia May Wills 15/10/2004 Ernest Stuart Wills 15/10/2004 19 August 2025 The principal activity of the Company during the financial year continued to be the construction and repair of flat roofing. 05261025 2025-03-31 05261025 bus:Director1 2025-03-31 05261025 bus:Director2 2025-03-31 05261025 2024-03-31 05261025 core:CurrentFinancialInstruments 2025-03-31 05261025 core:CurrentFinancialInstruments 2024-03-31 05261025 core:ShareCapital 2025-03-31 05261025 core:ShareCapital 2024-03-31 05261025 core:RetainedEarningsAccumulatedLosses 2025-03-31 05261025 core:RetainedEarningsAccumulatedLosses 2024-03-31 05261025 core:Goodwill 2024-03-31 05261025 core:Goodwill 2025-03-31 05261025 core:PlantMachinery 2024-03-31 05261025 core:Vehicles 2024-03-31 05261025 core:FurnitureFittings 2024-03-31 05261025 core:OfficeEquipment 2024-03-31 05261025 core:PlantMachinery 2025-03-31 05261025 core:Vehicles 2025-03-31 05261025 core:FurnitureFittings 2025-03-31 05261025 core:OfficeEquipment 2025-03-31 05261025 core:CostValuation 2024-03-31 05261025 core:CostValuation 2025-03-31 05261025 bus:OrdinaryShareClass1 2025-03-31 05261025 bus:OrdinaryShareClass2 2025-03-31 05261025 2024-04-01 2025-03-31 05261025 bus:FilletedAccounts 2024-04-01 2025-03-31 05261025 bus:SmallEntities 2024-04-01 2025-03-31 05261025 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 05261025 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05261025 bus:Director1 2024-04-01 2025-03-31 05261025 bus:Director2 2024-04-01 2025-03-31 05261025 core:Goodwill core:TopRangeValue 2024-04-01 2025-03-31 05261025 core:Goodwill 2024-04-01 2025-03-31 05261025 core:PlantMachinery 2024-04-01 2025-03-31 05261025 core:Vehicles 2024-04-01 2025-03-31 05261025 core:FurnitureFittings 2024-04-01 2025-03-31 05261025 core:OfficeEquipment 2024-04-01 2025-03-31 05261025 2023-04-01 2024-03-31 05261025 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 05261025 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05261025 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 05261025 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05261025 (England and Wales)

# PAIGNTON FLAT ROOFING LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

PAIGNTON FLAT ROOFING LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

PAIGNTON FLAT ROOFING LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
PAIGNTON FLAT ROOFING LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 0 |  | 2,320
Tangible assets | 4 | 17,415 |  | 21,726
Investments | 5 | 17 |  | 17
|  | 17,432 |  | 24,063
Current assets |  |  |  |
Stocks |  | 7,863 |  | 9,807
Debtors | 6 | 13,759 |  | 40,879
Cash at bank and in hand |  | 163,443 |  | 135,455
|  | 185,065 |  | 186,141
Creditors: amounts falling due within one year | 7 | ( 48,616) |  | ( 56,328)
Net current assets |  | 136,449 |  | 129,813
Total assets less current liabilities |  | 153,881 |  | 153,876
Net assets |  | 153,881 |  | 153,876
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | 153,781 |  | 153,776
Total shareholders' funds |  | 153,881 |  | 153,876

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Paignton Flat Roofing Limited (registered number: 05261025) were approved and authorised for issue by the Board of Directors on 19 August 2025. They were signed on its behalf by:

Cynthia May Wills Director |

PAIGNTON FLAT ROOFING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
PAIGNTON FLAT ROOFING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Paignton Flat Roofing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 20 years straight line

###### Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 20 years.

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery | 15 % reducing balance
Vehicles | 20 % reducing balance
Fixtures and fittings | 15 % reducing balance
Office equipment | 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments 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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 4 |  | 4

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 69,600 |  | 69,600
At 31 March 2025 | 69,600 |  | 69,600
Accumulated amortisation |  |  |
At 01 April 2024 | 67,280 |  | 67,280
Charge for the financial year | 2,320 |  | 2,320
At 31 March 2025 | 69,600 |  | 69,600
Net book value |  |  |
At 31 March 2025 | 0 |  | 0
At 31 March 2024 | 2,320 |  | 2,320

#### 4. Tangible assets

| Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 April 2024 | 6,884 |  | 62,032 |  | 534 |  | 1,994 |  | 71,444
At 31 March 2025 | 6,884 |  | 62,032 |  | 534 |  | 1,994 |  | 71,444
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 April 2024 | 6,263 |  | 41,219 |  | 452 |  | 1,784 |  | 49,718
Charge for the financial year | 92 |  | 4,163 |  | 13 |  | 43 |  | 4,311
At 31 March 2025 | 6,355 |  | 45,382 |  | 465 |  | 1,827 |  | 54,029
Net book value |  |  |  |  |  |  |  |  |
At 31 March 2025 | 529 |  | 16,650 |  | 69 |  | 167 |  | 17,415
At 31 March 2024 | 621 |  | 20,813 |  | 82 |  | 210 |  | 21,726

#### 5. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 April 2024 | 17 |  | 17
At 31 March 2025 | 17 |  | 17
Carrying value at 31 March 2025 | 17 |  | 17
Carrying value at 31 March 2024 | 17 |  | 17

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 8,801 |  | 34,824
Prepayments | 4,958 |  | 6,055
| 13,759 |  | 40,879

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 12,359 |  | 12,673
Amounts owed to directors | 22,138 |  | 35,300
Accruals | 3,450 |  | 2,974
Taxation and social security | 10,669 |  | 5,381
| 48,616 |  | 56,328

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
50 Ordinary shares of £ 1.00 each | 50 |  | 50
50 Ordinary A shares of £ 1.00 each | 50 |  | 50
| 100 |  | 100

#### 9. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Rent | 1,000 |  | 1,000
Directors' Current Account | 22,139 |  | 35,300

During the year rent totalling £1,000 (2024: £1,000) was paid to the directors in respect of Unit 18, Alders Way, Yalberton Industrial Estate, Paignton, Devon which they own and for which there is no formal lease agreement.