Vertice Roofing Limited Filleted accounts for Companies House (small and micro)

VERTICE ROOFING LTD. - Company Information

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COMPANY REGISTRATION NUMBER: 09859716

Vertice Roofing Limited

Filleted Unaudited Abridged Financial Statements

31 May 2020

Vertice Roofing Limited

Abridged Financial Statements

Year Ended 31 May 2020

Contents	Pages

Officers and professional advisers	1

Abridged statement of financial position	2 to 3

Notes to the abridged financial statements	4 to 6

Vertice Roofing Limited

Officers and Professional Advisers

The board of directors	Mr J Geary
	Mr R Wood

Registered office	Oak Park Business Centre
	Suite G1a Alington Road
	Little Barford
	St. Neots
	PE19 6WA

Accountants	SR Howell & Co
	Chartered Certified Accountants
	88 High Street
	Ramsey
	Huntingdon
	Cambs
	PE26 1BS

Vertice Roofing Limited

Abridged Statement of Financial Position

31 May 2020

	2020	2019
Note	£	£

Fixed assets

Tangible assets	5	6,715	6,870

Current assets

Debtors	8,717	10,397
Cash at bank and in hand	8,754	4,823
	--------	--------
	17,471	15,220

Creditors: amounts falling due within one year	22,654	19,428
	--------	--------
Net current liabilities	5,183	4,208
	-------	-------
Total assets less current liabilities	1,532	2,662

Creditors: amounts falling due after more than one year	1,101	2,290
	-------	-------
Net assets	431	372
	-------	-------

Capital and reserves

Called up share capital	102	102
Profit and loss account	329	270
	----	----
Shareholders funds	431	372
	----	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31 May 2020 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 May 2020 in accordance with Section 444(2A) of the Companies Act 2006.

Vertice Roofing Limited

Abridged Statement of Financial Position (continued)

31 May 2020

These abridged financial statements were approved by the board of directors and authorised for issue on 10 January 2021 , and are signed on behalf of the board by:

Mr J Geary

Director

Company registration number: 09859716

Vertice Roofing Limited

Notes to the Abridged Financial Statements

Year Ended 31 May 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oak Park Business Centre, Suite G1a Alington Road, Little Barford, St. Neots, PE19 6WA.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Motor vehicles	-	25% reducing balance

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).

5. Tangible assets

	£
Cost
At 1 June 2019	7,495
Additions	1,667
	-------
At 31 May 2020	9,162
	-------
Depreciation
At 1 June 2019	625
Charge for the year	1,822
	-------
At 31 May 2020	2,447
	-------
Carrying amount
At 31 May 2020	6,715
	-------
At 31 May 2019	6,870
	-------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2020
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Two directors	( 16,522)	5,566	( 10,956)
	--------	-------	--------

	2019
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Two directors	–	( 16,522)	( 16,522)
	----	--------	--------