Athena Specialist Roofing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07267027 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2019

for

Athena Specialist Roofing Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M Norton

Mrs H Norton

REGISTERED OFFICE:

1 Gemini Court

42a Throwley Way

Sutton

Surrey

SM1 4AF

REGISTERED NUMBER:

07267027 (England and Wales)

ACCOUNTANTS:

Freshwater Associates Limited

1 Gemini Court

42a Throwley Way

Sutton

Surrey

SM1 4AF

FIXED ASSETS

Property, plant and equipment

4

37,779

36,587

CURRENT ASSETS

Inventories

2,620

3,762

Debtors

5

344,138

406,814

Cash at bank

8

8

346,766

410,584

CREDITORS

Amounts falling due within one year

6

237,767

323,982

NET CURRENT ASSETS

108,999

86,602

TOTAL ASSETS LESS CURRENT LIABILITIES

146,778

123,189

CREDITORS

Amounts falling due after more than one year

7

(31,319

)

(17,112

)

PROVISIONS FOR LIABILITIES

(808

)

(1,660

)

NET ASSETS

114,651

104,417

CAPITAL AND RESERVES

Called up share capital

9

150

150

Retained earnings

114,501

104,267

SHAREHOLDERS' FUNDS

114,651

104,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 February 2020 and were signed on its behalf by:

M Norton - Director

1.	STATUTORY INFORMATION

Athena Specialist Roofing 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are

physically delivered to the customer.

Turnover represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

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

statement of financial position 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2018

2,000

73,746

2,882

78,628

Additions

-

38,696

632

39,328

Disposals

-

(55,708

)

-

(55,708

)

At 31 May 2019

2,000

56,734

3,514

62,248

DEPRECIATION

At 1 June 2018

875

39,239

1,927

42,041

Charge for year

281

8,936

397

9,614

Eliminated on disposal

-

(27,186

)

-

(27,186

)

At 31 May 2019

1,156

20,989

2,324

24,469

NET BOOK VALUE

At 31 May 2019

844

35,745

1,190

37,779

At 31 May 2018

1,125

34,507

955

36,587

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 June 2018

55,708

Additions

38,696

Disposals

(55,708

)

At 31 May 2019

38,696

DEPRECIATION

At 1 June 2018

27,186

Charge for year

7,739

Eliminated on disposal

(27,186

)

At 31 May 2019

7,739

NET BOOK VALUE

At 31 May 2019

30,957

At 31 May 2018

28,522

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

243,200

199,825

Amounts recoverable on contract

100,938

206,613

Other debtors

-

376

344,138

406,814

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

85,567

86,770

Hire purchase contracts

6,942

8,556

Trade creditors

68,299

86,454

Taxation and social security

44,220

74,717

Other creditors

32,739

67,485

237,767

323,982

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

31,319

17,112

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Invoice finance facility

69,542

55,887

Ultimate Finance Limited have a Fixed & Floating charge over the property & undertaking of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

50

Ordinary B

1

50

50

150

150

The Ordinary Shares shall be non redeemable but shall hold full rights in respect of Voting, and shall entitle the

holder to full participation in respect of equity and in the event of a winding up.

The Ordinary 'B' Shares shall be non-voting shares and the registered holder thereof shares shall on a winding up

or other payment of capital, be entitled to participate in the assets of the Company, which the Company may

determine to distribute by way of dividends but only when dividends are declared for the Ordinary 'A' Shares.

Different rates of dividends may be declared and dividends may be declared for one class of share and not for the

other classes of shares.