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 2021

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

76,417

82,553

CURRENT ASSETS

Stocks

106,168

237,911

Debtors

5

400,248

263,236

Cash at bank

74,328

56,284

580,744

557,431

CREDITORS

Amounts falling due within one year

6

482,122

432,785

NET CURRENT ASSETS

98,622

124,646

TOTAL ASSETS LESS CURRENT LIABILITIES

175,039

207,199

CREDITORS

Amounts falling due after more than one year

7

64,574

90,300

NET ASSETS

110,465

116,899

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

110,315

116,749

110,465

116,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 31 December 2021 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 4 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2020

127,825

Additions

2,282

At 31 May 2021

130,107

DEPRECIATION

At 1 June 2020

45,272

Charge for year

8,418

At 31 May 2021

53,690

NET BOOK VALUE

At 31 May 2021

76,417

At 31 May 2020

82,553

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

Plant and

machinery

etc

£

COST

At 1 June 2020

and 31 May 2021

101,686

DEPRECIATION

At 1 June 2020

26,529

Charge for year

7,516

At 31 May 2021

34,045

NET BOOK VALUE

At 31 May 2021

67,641

At 31 May 2020

75,157

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade debtors

247,987

262,888

Other debtors

152,261

348

400,248

263,236

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans and overdrafts

8,508

6,660

Hire purchase contracts

28,281

28,281

Trade creditors

125,283

190,378

Taxation and social security

49,032

69,772

Other creditors

271,018

137,694

482,122

432,785

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Hire purchase contracts

64,574

90,300

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.21

31.5.20

£

£

Invoice finance facility

-

5,155

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 £51,150 were paid to the directors .