Dwenger Roofing Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08288276

Unaudited Financial Statements for the Year Ended 30 November 2022

for

Dwenger Roofing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms T K Key

REGISTERED OFFICE:

c/o Baines & Co

46 Rolle Street

Exmouth

Devon

EX8 2SQ

REGISTERED NUMBER:

08288276

ACCOUNTANTS:

Baines & Co

46 Rolle Street

Exmouth

Devon

EX8 2SQ

FIXED ASSETS

Intangible assets

4

2,500

3,000

Tangible assets

5

33,374

54,832

35,874

57,832

CURRENT ASSETS

Stocks

6

25,550

18,500

Debtors

7

59,217

52,049

Cash at bank and in hand

58,984

51,036

143,751

121,585

CREDITORS

Amounts falling due within one year

8

103,776

107,978

NET CURRENT ASSETS

39,975

13,607

TOTAL ASSETS LESS CURRENT LIABILITIES

75,849

71,439

CREDITORS

Amounts falling due after more than one year

9

(47,245

)

(61,215

)

PROVISIONS FOR LIABILITIES

(14,740

)

(10,229

)

NET ASSETS/(LIABILITIES)

13,864

(5

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

10

13,764

(105

)

SHAREHOLDERS' FUNDS

13,864

(5

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 14 April 2023 and were signed by:

Ms T K Key - Director

1.	STATUTORY INFORMATION

Dwenger Roofing Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 2016, is being amortised evenly over its estimated useful life of ten 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 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

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

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 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2021

and 30 November 2022

5,000

AMORTISATION

At 1 December 2021

2,000

Amortisation for year

500

At 30 November 2022

2,500

NET BOOK VALUE

At 30 November 2022

2,500

At 30 November 2021

3,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 December 2021

14,451

68,213

4,168

86,832

Additions

1,751

3,333

-

5,084

Disposals

-

(18,536

)

-

(18,536

)

At 30 November 2022

16,202

53,010

4,168

73,380

DEPRECIATION

At 1 December 2021

12,870

17,275

1,855

32,000

Charge for year

804

13,761

978

15,543

Eliminated on disposal

-

(7,537

)

-

(7,537

)

At 30 November 2022

13,674

23,499

2,833

40,006

NET BOOK VALUE

At 30 November 2022

2,528

29,511

1,335

33,374

At 30 November 2021

1,581

50,938

2,313

54,832

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

Computer

equipment

£

COST

At 1 December 2021

and 30 November 2022

632

DEPRECIATION

At 1 December 2021

316

Charge for year

316

At 30 November 2022

632

NET BOOK VALUE

At 30 November 2022

-

At 30 November 2021

316

6.

STOCKS

30.11.22

30.11.21

£

£

Stocks

3,550

3,500

Work-in-progress

22,000

15,000

25,550

18,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.22

30.11.21

£

£

Trade debtors

46,867

50,969

Other debtors

-

893

Directors' current accounts

11,668

-

Prepayments

682

187

59,217

52,049

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.22

30.11.21

£

£

Hire purchase contracts

6,902

6,902

Trade creditors

74,118

88,222

Tax

11,451

(874

)

Social security and other taxes

3,443

1,447

VAT

7,862

12,249

Directors' current accounts

-

32

103,776

107,978

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.22

30.11.21

£

£

Bank loans - 2-5 years

34,985

44,998

Hire purchase contracts

12,260

16,217

47,245

61,215

10.

RESERVES

Retained

earnings

£

At 1 December 2021

(105

)

Profit for the year

23,869

Dividends

(10,000

)

At 30 November 2022

13,764

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms T K Key.

The ultimate controlling party is Ms T K Key.