High-Tech Membrane Roofing Ltd - Accounts to registrar (filleted) - small 23.2.5
High-Tech Membrane Roofing Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| FOR |
| HIGH-TECH MEMBRANE ROOFING LTD |
| HIGH-TECH MEMBRANE ROOFING LTD (REGISTERED NUMBER: 03932378) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| HIGH-TECH MEMBRANE ROOFING LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 12 Station Court |
| Station Approach |
| Wickford |
| Essex |
| SS11 7AT |
| HIGH-TECH MEMBRANE ROOFING LTD (REGISTERED NUMBER: 03932378) |
| BALANCE SHEET |
| 31 OCTOBER 2022 |
| 31.10.22 | 31.10.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| HIGH-TECH MEMBRANE ROOFING LTD (REGISTERED NUMBER: 03932378) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2022 |
| 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 |
| HIGH-TECH MEMBRANE ROOFING LTD (REGISTERED NUMBER: 03932378) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 1. | STATUTORY INFORMATION |
| High-Tech Membrane Roofing Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable in accordance with the guidance of application note G of FRS 5 and represents amounts receivable for goods and services provided in the normal course of business net of value added tax. |
| Sales of goods are recognised when goods are delivered and title passed. Turnover from construction contracts are recognised in accordance with the company's policy on long term contracts. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks and long term contracts |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Where the outcome of a contract can be estimated reliably and it is probable that the contract will be profitable, revenue and cost are recognised over the period of the contract. Where it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. |
| The company uses the 'percentage of completion method' to determine the appropriate amount to recognise in a given period. The stage of completion is measured by reference to the contract costs incurred up to the balance sheet date as a percentage of the total estimated costs for each contract. |
| 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. |
| HIGH-TECH MEMBRANE ROOFING LTD (REGISTERED NUMBER: 03932378) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2022 |
| DEPRECIATION |
| At 1 November 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2022 |
| NET BOOK VALUE |
| At 31 October 2022 |
| At 31 October 2021 |
| Included in cost of land and buildings is freehold land of £ 52,214 (2021 - £ 52,214 ) which is not depreciated. |
| HIGH-TECH MEMBRANE ROOFING LTD (REGISTERED NUMBER: 03932378) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 November 2021 |
| Additions |
| Transfer to ownership | (23,995 | ) |
| At 31 October 2022 |
| DEPRECIATION |
| At 1 November 2021 |
| Charge for year |
| Transfer to ownership | (14,320 | ) |
| At 31 October 2022 |
| NET BOOK VALUE |
| At 31 October 2022 |
| At 31 October 2021 | ( |
) |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.22 | 31.10.21 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |