Merlin Truline Roofing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05289079 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Merlin Truline Roofing Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

K Bailey

W A Belfield

V J Cayley

Mrs D J Cayley

SECRETARY:

Mrs D J Cayley

REGISTERED OFFICE:

1 Gemini Court

42a Throwley Way

Sutton

Surrey

SM1 4AF

REGISTERED NUMBER:

05289079 (England and Wales)

ACCOUNTANTS:

Freshwater Associates Limited

1 Gemini Court

42a Throwley Way

Sutton

Surrey

SM1 4AF

FIXED ASSETS

Property, plant and equipment

4

11,969

14,079

CURRENT ASSETS

Inventories

2,138

2,138

Debtors

5

208,902

262,252

Cash at bank

35,318

44,990

246,358

309,380

CREDITORS

Amounts falling due within one year

6

241,717

314,269

NET CURRENT ASSETS/(LIABILITIES)

4,641

(4,889

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,610

9,190

CREDITORS

Amounts falling due after more than one year

7

(4,595

)

(7,914

)

PROVISIONS FOR LIABILITIES

(2,274

)

(340

)

NET ASSETS

9,741

936

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

9,641

836

SHAREHOLDERS' FUNDS

9,741

936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 and authorised for issue on 22 December 2020 and were signed on its behalf by:

Mrs D J Cayley - Director

1.	STATUTORY INFORMATION

Merlin Truline 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 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.

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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 11 (2019 - 11 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2019

100,695

496

101,191

Additions

8,878

-

8,878

Disposals

(73,450

)

-

(73,450

)

At 31 March 2020

36,123

496

36,619

DEPRECIATION

At 1 April 2019

86,617

495

87,112

Charge for year

8,016

1

8,017

Eliminated on disposal

(70,479

)

-

(70,479

)

At 31 March 2020

24,154

496

24,650

NET BOOK VALUE

At 31 March 2020

11,969

-

11,969

At 31 March 2019

14,078

1

14,079

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

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

16,995

DEPRECIATION

At 1 April 2019

7,435

Charge for year

4,249

At 31 March 2020

11,684

NET BOOK VALUE

At 31 March 2020

5,311

At 31 March 2019

9,560

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

12,211

12,554

Amounts recoverable on contract

189,285

238,790

Other debtors

7,406

10,908

208,902

262,252

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

3,243

25,600

Trade creditors

163,834

252,159

Taxation and social security

37,665

31,573

Other creditors

36,975

4,937

241,717

314,269

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

4,595

7,914

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

96

Ordinary

£1

96

96

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

1

Ordinary D

£1

1

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 April 2019

836

Profit for the year

59,571

Dividends

(50,766

)

At 31 March 2020

9,641

10.

DEBENTURE

The company has entered into Debenture on 09/11/2010 with National Westminster Bank PLC by fixed and floating charge over the undertaking and all property and assets present and future.