Skyline Roofing Centres (Bedford) Limite - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06822102 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Skyline Roofing Centres

(Bedford) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Matu

S J Revell

SECRETARY:

S J Revell

REGISTERED OFFICE:

Unit 73, Waterside Trading Centre

Trumpers Way

Hanwell

London

W7 2QA

REGISTERED NUMBER:

06822102 (England and Wales)

ACCOUNTANTS:

Bristow Burrell

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

FIXED ASSETS

Tangible assets

5

30,336

41,405

CURRENT ASSETS

Stocks

622,688

654,648

Debtors

6

761,978

771,923

Cash at bank and in hand

999,601

942,520

2,384,267

2,369,091

CREDITORS

Amounts falling due within one year

7

807,415

940,499

NET CURRENT ASSETS

1,576,852

1,428,592

TOTAL ASSETS LESS CURRENT LIABILITIES

1,607,188

1,469,997

PROVISIONS FOR LIABILITIES

8,908

4,942

NET ASSETS

1,598,280

1,465,055

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

1,598,180

1,464,955

SHAREHOLDERS' FUNDS

1,598,280

1,465,055

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 12 December 2023 and were signed on its behalf by:

R Matu - Director

1.	STATUTORY INFORMATION

Skyline Roofing Centres (Bedford) 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost and 20% on cost

Stocks

Stocks 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 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2022

86,347

285,269

18,375

389,991

Disposals

(4,539

)

-

(6,343

)

(10,882

)

Transfer to ownership

(19,800

)

-

-

(19,800

)

At 30 June 2023

62,008

285,269

12,032

359,309

DEPRECIATION

At 1 July 2022

79,705

253,257

15,624

348,586

Charge for year

1,660

8,003

1,318

10,981

Eliminated on disposal

(4,451

)

-

(6,343

)

(10,794

)

Transfer to ownership

(19,800

)

-

-

(19,800

)

At 30 June 2023

57,114

261,260

10,599

328,973

NET BOOK VALUE

At 30 June 2023

4,894

24,009

1,433

30,336

At 30 June 2022

6,642

32,012

2,751

41,405

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2022

(19,800

)

235,090

215,290

Transfer to ownership

(19,800

)

-

(19,800

)

At 30 June 2023

(39,600

)

235,090

195,490

DEPRECIATION

At 1 July 2022

(19,800

)

220,811

201,011

Charge for year

-

3,570

3,570

Transfer to ownership

(19,800

)

-

(19,800

)

At 30 June 2023

(39,600

)

224,381

184,781

NET BOOK VALUE

At 30 June 2023

-

10,709

10,709

At 30 June 2022

-

14,279

14,279

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

756,658

763,794

Other debtors

5,320

8,129

761,978

771,923

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

556,515

626,008

Taxation and social security

143,488

178,356

Other creditors

107,412

136,135

807,415

940,499

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

Mr S J Revell is also a Director of Skyline Roofing Centres Limited, Skyline Roofing (Kingston) Limited, Skyline Roofing Centres (LB) Ltd, Skyline Roofing Centres Management Company Limited, Skyline Roofing Holdings Limited and Skyline Roofing Group Limited. He is also a proprietor of Skyline Roofing Centres partnership. All these businesses trade with each other under normal commercial conditions.

At the end of the year, Skyline Roofing Centres (Bedford) Limited had related debtors and creditors as follows:

Company

Debtor

Creditor

£

£

Skyline Roofing Centres Partnership

2,675

1,018

Skyline Roofing Centres Ltd

10,856

127,636

Skyline Roofing Centres (LB) Ltd

11,148

5,127

During the year the company made the following related party sales and purchases:

2023

2022

Sales

£

£

Skyline Roofing Centres

163

4,355

Skyline Roofing Centres Ltd

6,860

39,362

Skyline Roofing Centres (LB) Ltd

7,058

15,525

Skyline Kingston Ltd

555

Purchases

Skyline Roofing Centres Partnership

11,254

702

Skyline Roofing Centres Ltd

63,843

28,862

Skyline Roofing Centres (LB) Ltd

2,801

36,280

The company paid rent of £62,131 (2022: £55,000) to Skyline Roofing Holdings Ltd.

The company also paid franchise fees of £87,309 (2022: £77,128) to Skyline Roofing Centres Management Company Ltd.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by Raj Matu by virtue of his 65% interest in the voting capital of the company.