M & N Roofing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05161245 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

FOR

M & N ROOFING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M D Williams

Mr N R Williams

SECRETARY:

Mrs S Williams

REGISTERED OFFICE:

13 Trinity Square

Llandudno

North Wales

LL30 2RB

REGISTERED NUMBER:

05161245 (England and Wales)

ACCOUNTANTS:

Williams Denton Cyf

Chartered Certified Accountants

13 Trinity Square

Llandudno

United Kingdom

CONWY

LL30 2RB

FIXED ASSETS

Intangible assets

4

17,505

23,340

Tangible assets

5

2,071

2,763

19,576

26,103

CURRENT ASSETS

Stocks

12,199

7,622

Debtors

6

85,839

88,416

Cash at bank

29,828

43,259

127,866

139,297

CREDITORS

Amounts falling due within one year

7

28,880

37,346

NET CURRENT ASSETS

98,986

101,951

TOTAL ASSETS LESS CURRENT LIABILITIES

118,562

128,054

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

118,560

128,052

SHAREHOLDERS' FUNDS

118,562

128,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 14 September 2021 and were signed on its behalf by:

Mr M D Williams - Director

Mr N R Williams - Director

1.	STATUTORY INFORMATION

M & N 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% 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

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 8 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2020

and 30 June 2021

116,700

AMORTISATION

At 1 July 2020

93,360

Charge for year

5,835

At 30 June 2021

99,195

NET BOOK VALUE

At 30 June 2021

17,505

At 30 June 2020

23,340

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

and 30 June 2021

31,118

DEPRECIATION

At 1 July 2020

28,355

Charge for year

692

At 30 June 2021

29,047

NET BOOK VALUE

At 30 June 2021

2,071

At 30 June 2020

2,763

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

31,642

55,495

Other debtors

54,197

32,921

85,839

88,416

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

3,331

9,062

Taxation and social security

22,866

26,060

Other creditors

2,683

2,224

28,880

37,346

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2021 and 30 June 2020:

2021

2020

£

£

Mr M D Williams

Balance outstanding at start of year

19,958

-

Amounts advanced

31,338

19,958

Amounts repaid

(19,958

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

31,338

19,958

Mr N R Williams

Balance outstanding at start of year

11,125

-

Amounts advanced

22,504

11,125

Amounts repaid

(11,125

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

22,504

11,125