Registration number: 14017230

The Roofrack Company SW Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

The Roofrack Company SW Ltd

Company Information

Director

Mr I Stephenson

Registered office

130A High Street Crediton Devon EX17 3LQ

Accountants

Wortham Jaques Limited 130a High Street, Crediton, Devon EX17 3LQ

The Roofrack Company SW Ltd

(Registration number: 14017230)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	186	233
Current assets
Stocks	5	21,000	11,150
Debtors	6	1,471	4,272
Cash at bank and in hand		3,271	3,672
		25,742	19,094
Creditors: Amounts falling due within one year	7	(17,859)	(18,862)
Net current assets		7,883	232
Total assets less current liabilities		8,069	465
Creditors: Amounts falling due after more than one year	7	(11,582)	-
Net (liabilities)/assets		(3,513)	465
Capital and reserves
Called up share capital		100	100
Retained earnings		(3,613)	365
Shareholders' (deficit)/funds		(3,513)	465

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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 December 2025
 

......................................... Mr I Stephenson Director

The Roofrack Company SW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130A High Street
Crediton
Devon
EX17 3LQ
ENGLAND

These financial statements were authorised for issue by the director on 31 December 2025.

2	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 except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

The Roofrack Company SW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

The Roofrack Company SW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

The Roofrack Company SW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	291	291
At 31 March 2025	291	291
Depreciation
At 1 April 2024	58	58
Charge for the year	47	47
At 31 March 2025	105	105
Carrying amount
At 31 March 2025	186	186
At 31 March 2024	233	233

5

Stocks

	2025 £	2024 £
Other inventories	21,000	11,150

6

Debtors

Current	2025 £	2024 £
Trade debtors	845	385
Other debtors	626	3,887
	1,471	4,272

The Roofrack Company SW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	8,335	5,566
Taxation and social security	5,229	11,824
Accruals and deferred income	1,776	1,472
Other creditors	2,519	-
	17,859	18,862

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	11,582	-

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	11,582	-

9	Related party transactions

Transactions with the director

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Mr I Stephenson
Directors' loan account	3,886	31,717	(36,168)	(564)

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
Mr I Stephenson
Directors' loan account	(20)	35,003	(31,096)	3,886

The Roofrack Company SW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Director's remuneration

The director's remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	9,096	9,096

Dividends paid to the director

		2025 £		2024 £
Mr I Stephenson
Dividends paid to director		16,000		18,000

10	Parent and ultimate parent undertaking

The ultimate controlling party is the company's director..