Skyline Roofing Centres (Bedford) Limite - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06822102 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

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

209,155

124,084

CURRENT ASSETS

Stocks

250,262

138,964

Debtors

6

559,894

602,221

Cash at bank and in hand

381,627

293,800

1,191,783

1,034,985

CREDITORS

Amounts falling due within one year

7

662,779

570,022

NET CURRENT ASSETS

529,004

464,963

TOTAL ASSETS LESS CURRENT LIABILITIES

738,159

589,047

CREDITORS

Amounts falling due after more than one year

8

(135,650

)

(70,852

)

PROVISIONS FOR LIABILITIES

(36,119

)

(23,569

)

NET ASSETS

566,390

494,626

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

566,290

494,526

SHAREHOLDERS' FUNDS

566,390

494,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30 November 2017 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 12 (2016 - 11 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2016

96,312

125,229

10,240

231,781

Additions

739

149,542

-

150,281

Disposals

-

(11,500

)

-

(11,500

)

At 30 June 2017

97,051

263,271

10,240

370,562

DEPRECIATION

At 1 July 2016

62,144

38,844

6,709

107,697

Charge for year

21,813

39,293

1,375

62,481

Eliminated on disposal

-

(8,771

)

-

(8,771

)

At 30 June 2017

83,957

69,366

8,084

161,407

NET BOOK VALUE

At 30 June 2017

13,094

193,905

2,156

209,155

At 30 June 2016

34,168

86,385

3,531

124,084

Fixed assets, included in the above, which are held under hire purchase contracts

are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2016

19,800

109,229

129,029

Additions

-

125,861

125,861

At 30 June 2017

19,800

235,090

254,890

DEPRECIATION

At 1 July 2016

12,540

29,014

41,554

Charge for year

4,950

35,777

40,727

At 30 June 2017

17,490

64,791

82,281

NET BOOK VALUE

At 30 June 2017

2,310

170,299

172,609

At 30 June 2016

7,260

80,215

87,475

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

535,305

529,776

Other debtors

24,589

72,445

559,894

602,221

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

13,092

Hire purchase contracts

44,487

21,390

Trade creditors

391,129

330,079

Taxation and social security

89,005

96,298

Other creditors

138,158

109,163

662,779

570,022

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

135,650

70,852

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.	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

-

1,711

Skyline Roofing Centres Ltd

7,541

40,296

Skyline Roofing Centres (LB) Ltd

3,326

4,512

Skyline Roofing Centres Management Company Ltd

-

2,480

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

2017

2016

Sales

£

£

Skyline Roofing Centres

4,362

418

Skyline Roofing Centres Ltd

22,809

9,272

Skyline Roofing Centres (LB) Ltd

62,394

60,997

Skyline Solar Ltd

-

-

Purchases

Skyline Roofing Centres

4,347

594

Skyline Roofing Centres Ltd

224,809

139,876

Skyline Roofing Centres (LB) Ltd

62,141

48,563

Skyline Solar Ltd

-

-

The company paid rent of £55,000 (2016: £55,000) to Skyline Roofing Holdings Ltd.

The company also paid franchise fees of £68,879,(2016: £53,535) to Skyline Roofing

Centres Management Company Ltd.

11.	ULTIMATE CONTROLLING PARTY

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

capital of the company.

12.	FIRST YEAR ADOPTION

No accounting policies have changed as a result of the transition to FRS 102. There

has been no change to equity recognised in accordance with the reporting framework

at either the date of transition, 01 Jul 2015, or the most recent financial

statement date, 30 Jun 2016. In addition, the transition to FRS 102 has had no

effect on the reported profit of the entity for the year ended 30 Jun 2016.