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 2022

for

Athena Specialist Roofing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M D Norton

Mrs H Norton

REGISTERED OFFICE:

1 Gemini Court

42a Throwley Way

Sutton

SM1 4AF

REGISTERED NUMBER:

07267027 (England and Wales)

ACCOUNTANTS:

AJ Accounting Services

58 Park Road

Sittingbourne

Kent

ME10 1DY

FIXED ASSETS

Tangible assets

4

100,246

76,417

CURRENT ASSETS

Stocks

219,819

106,168

Debtors

5

974,160

400,248

Cash at bank

80,779

74,328

1,274,758

580,744

CREDITORS

Amounts falling due within one year

6

1,064,788

482,122

NET CURRENT ASSETS

209,970

98,622

TOTAL ASSETS LESS CURRENT LIABILITIES

310,216

175,039

CREDITORS

Amounts falling due after more than one year

7

137,924

64,574

NET ASSETS

172,292

110,465

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

172,142

110,315

172,292

110,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 7 October 2022 and were signed on its behalf by:

M D 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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 etc

-

25% on reducing balance and 20% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2021

130,107

Additions

58,077

At 31 May 2022

188,184

DEPRECIATION

At 1 June 2021

53,690

Charge for year

34,248

At 31 May 2022

87,938

NET BOOK VALUE

At 31 May 2022

100,246

At 31 May 2021

76,417

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

Plant and

machinery

etc

£

COST

At 1 June 2021

101,686

Additions

57,467

At 31 May 2022

159,153

DEPRECIATION

At 1 June 2021

34,045

Charge for year

31,277

At 31 May 2022

65,322

NET BOOK VALUE

At 31 May 2022

93,831

At 31 May 2021

67,641

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

583,332

247,987

Other debtors

390,828

152,261

974,160

400,248

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans and overdrafts

-

8,508

Hire purchase contracts

-

28,281

Trade creditors

521,481

125,283

Taxation and social security

338,753

49,032

Other creditors

204,554

271,018

1,064,788

482,122

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

£

£

Hire purchase contracts

137,924

64,574

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.22

31.5.21

£

£

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

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £62,950 (2021 - £51,150) were paid to the directors .