MATTHEWS_ROOFING_LIMITED - Accounts

MATTHEWS ROOFING LIMITED - Company Information

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Company Registration No. 05267621 (England and Wales)

MATTHEWS ROOFING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2015

MATTHEWS ROOFING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MATTHEWS ROOFING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

19,213

8,824

Current assets

Stocks

200

11,818

Debtors

65,166

102,889

Cash at bank and in hand

50,580

48,125

115,946

162,832

Creditors: amounts falling due within one year

(69,538)

(73,352)

Net current assets

46,408

89,480

Total assets less current liabilities

65,621

98,304

Provisions for liabilities

(3,842)

(1,764)

61,779

96,540

Capital and reserves

Called up share capital

Profit and loss account

61,763

96,524

Shareholders' funds

61,779

96,540

For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 March 2016

Mr R Matthews

Director

Company Registration No. 05267621

MATTHEWS ROOFING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

10% reducing balance

Computer equipment

3 years straight line

Motor vehicles

25% reducing balance

1.5

Stock and work in progress

Stock is valued at the lower of cost and net realisable value.

1.6

Revenue recognition

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

MATTHEWS ROOFING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 November 2014

21,655

Additions

16,520

Disposals

(417)

At 31 October 2015

37,758

Depreciation

At 1 November 2014

12,833

On disposals

(417)

Charge for the year

6,129

At 31 October 2015

18,545

Net book value

At 31 October 2015

19,213

At 31 October 2014

8,824

Share capital

2015

2014

Allotted, called up and fully paid

16 Ordinary shares of £1 each