Company No: 03830493 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Mr L M Gibbs

SECRETARY

Mrs A L Gibbs

REGISTERED OFFICE	Ground Floor Blackbrook Gate 1
	Blackbrook Business Park
	Taunton
	TA1 2PX
	United Kingdom

COMPANY NUMBER

03830493 (England and Wales)

CHARTERED ACCOUNTANTS	Francis Clark LLP
	Blackbrook Gate 1
	Blackbrook Business Park
	Taunton
	Somerset TA1 2PX

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	3	94,865		85,104
		94,865		85,104
Current assets
Stocks		1,000		1,000
Debtors	4	66,451		95,788
Cash at bank and in hand		21,749		2
		89,200		96,790
Creditors: amounts falling due within one year	5	( 78,256)		( 73,843)
Net current assets		10,944		22,947
Total assets less current liabilities		105,809		108,051
Creditors: amounts falling due after more than one year	6	( 71,998)		( 76,429)
Provision for liabilities		( 23,716)		( 21,276)
Net assets		10,095		10,346
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		9,995		10,246
Total shareholders' funds		10,095		10,346

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of T G Roofing Limited (registered number: 03830493) were approved and authorised for issue by the Director on 20 May 2024. They were signed on its behalf by:

Mr L M Gibbs Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

T G Roofing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts. Turnover is recognised when work has been completed.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Computer equipment	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		3

3. Tangible assets

	Vehicles		Computer equipment		Total
	£		£		£
Cost
At 01 October 2022	108,339		5,061		113,400
Additions	70,085		1,726		71,811
Disposals	( 47,894)		( 724)		( 48,618)
At 30 September 2023	130,530		6,063		136,593
Accumulated depreciation
At 01 October 2022	26,657		1,639		28,296
Charge for the financial year	23,441		943		24,384
Disposals	( 10,489)		( 463)		( 10,952)
At 30 September 2023	39,609		2,119		41,728
Net book value
At 30 September 2023	90,921		3,944		94,865
At 30 September 2022	81,682		3,422		85,104

4. Debtors

	2023		2022
	£		£
Trade debtors	63,910		64,996
Corporation tax	0		6,939
Other debtors	2,541		23,853
	66,451		95,788

5. Creditors: amounts falling due within one year

	2023		2022
	£		£
Bank loans and overdrafts	10,562		33,523
Trade creditors	19,681		23,055
Taxation and social security	24,142		4,255
Obligations under finance leases and hire purchase contracts (secured)	13,258		9,637
Other creditors	10,613		3,373
	78,256		73,843

6. Creditors: amounts falling due after more than one year

	2023		2022
	£		£
Bank loans	25,975		21,954
Obligations under finance leases and hire purchase contracts (secured)	46,023		54,475
	71,998		76,429

The hire purchase contracts are secured on the company's fixed assets.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2023		2022
	£		£
Bank loans (secured / repayable by instalments)	2,084		0

7. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Related party transactions

Transactions with the entity's director

Advances

Advances were made to the director in the year 30 September 2023 totalling £8,272, (2022: £7,863) and repayments of £12,532 (2022: £9,913) were made during the year. The loan is interest-free and repayable on demand. At the end of the reporting period the company was owed £Nil (2022: £4,260) by the director.