PB Roofing (NW) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08689531 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

FOR

PB ROOFING (NW) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P Bennett Snr

P Bennett Junior

REGISTERED OFFICE:

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

REGISTERED NUMBER:

08689531 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

17,315

11,362

CURRENT ASSETS

Stocks

1,250

1,250

Debtors

5

93,767

51,724

Cash at bank

197,531

214,201

292,548

267,175

CREDITORS

Amounts falling due within one year

6

94,213

82,042

NET CURRENT ASSETS

198,335

185,133

TOTAL ASSETS LESS CURRENT LIABILITIES

215,650

196,495

CREDITORS

Amounts falling due after more than one year

7

28,227

38,727

NET ASSETS

187,423

157,768

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

187,323

157,668

SHAREHOLDERS' FUNDS

187,423

157,768

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2024 and were signed on its behalf by:

P Bennett Snr - Director

1.	STATUTORY INFORMATION

PB Roofing (NW) Ltd 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 goods and services provided, excluding discounts, rebates and value added tax.

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

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost less depreciation and impairment.

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Short term employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

23,732

Additions

12,765

Disposals

(5,995

)

At 30 March 2023

30,502

DEPRECIATION

At 1 April 2022

12,370

Charge for period

3,850

Eliminated on disposal

(3,033

)

At 30 March 2023

13,187

NET BOOK VALUE

At 30 March 2023

17,315

At 31 March 2022

11,362

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

62,825

40,431

Other debtors

30,942

11,293

93,767

51,724

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

10,940

11,273

Hire purchase contracts

-

262

Trade creditors

35,375

26,701

Taxation and social security

14,556

15,668

Other creditors

33,342

28,138

94,213

82,042

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

28,227

38,727

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

-

262

Amounts owed under hire purchase are secured on the assets concerned.

9.	RELATED PARTY DISCLOSURES

During the period, total dividends of £41,000 (2022 - £42,000) were paid to the directors .