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 2021

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

5,654

11,969

CURRENT ASSETS

Inventories

1,500

2,138

Debtors

5

216,606

208,902

Cash at bank

71,374

35,318

289,480

246,358

CREDITORS

Amounts falling due within one year

6

238,391

241,717

NET CURRENT ASSETS

51,089

4,641

TOTAL ASSETS LESS CURRENT LIABILITIES

56,743

16,610

CREDITORS

Amounts falling due after more than one year

7

(44,057

)

(4,595

)

PROVISIONS FOR LIABILITIES

(1,074

)

(2,274

)

NET ASSETS

11,612

9,741

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

11,512

9,641

SHAREHOLDERS' FUNDS

11,612

9,741

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 7 December 2021 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 (2020 - 11 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2020

36,123

496

36,619

Additions

-

229

229

At 31 March 2021

36,123

725

36,848

DEPRECIATION

At 1 April 2020

24,154

496

24,650

Charge for year

6,468

76

6,544

At 31 March 2021

30,622

572

31,194

NET BOOK VALUE

At 31 March 2021

5,501

153

5,654

At 31 March 2020

11,969

-

11,969

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

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

16,995

DEPRECIATION

At 1 April 2020

11,684

Charge for year

4,249

At 31 March 2021

15,933

NET BOOK VALUE

At 31 March 2021

1,062

At 31 March 2020

5,311

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

23,004

12,211

Amounts recoverable on contract

192,038

189,285

Other debtors

1,564

7,406

216,606

208,902

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

7,506

-

Hire purchase contracts

3,148

3,243

Trade creditors

158,228

163,834

Taxation and social security

66,974

37,665

Other creditors

2,535

36,975

238,391

241,717

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

42,494

-

Hire purchase contracts

1,563

4,595

44,057

4,595

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,859

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

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 2020

9,641

Profit for the year

97,946

Dividends

(96,075

)

At 31 March 2021

11,512

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.