Athena Specialist Roofing Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07267027 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

Athena Specialist Roofing Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

M Norton

Mrs H Norton

REGISTERED OFFICE:

99 Westmead Road

Sutton

Surrey

SM1 4HX

REGISTERED NUMBER:

07267027 (England and Wales)

ACCOUNTANTS:

Freshwater Associates Limited

99 Westmead Road

Sutton

Surrey

SM1 4HX

FIXED ASSETS

Property, plant and equipment

4

47,586

53,082

CURRENT ASSETS

Inventories

3,135

3,135

Debtors

5

311,093

314,349

Cash at bank

8

32,554

314,236

350,038

CREDITORS

Amounts falling due within one year

6

240,884

272,188

NET CURRENT ASSETS

73,352

77,850

TOTAL ASSETS LESS CURRENT LIABILITIES

120,938

130,932

CREDITORS

Amounts falling due after more than one year

7

(25,666

)

(38,216

)

PROVISIONS FOR LIABILITIES

(2,277

)

(1,480

)

NET ASSETS

92,995

91,236

CAPITAL AND RESERVES

Called up share capital

8

150

150

Retained earnings

92,845

91,086

SHAREHOLDERS' FUNDS

92,995

91,236

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 21 February 2018 and were signed on its behalf by:

M Norton - Director

1.	STATUTORY INFORMATION

Athena Specialist Roofing 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are

physically delivered to the customer.

Turnover represents the value of services provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due.

Property, plant and equipment

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 reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Inventories 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 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 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2016

-

73,266

2,251

75,517

Additions

2,000

6,500

631

9,131

Disposals

-

(2,500

)

-

(2,500

)

At 31 May 2017

2,000

77,266

2,882

82,148

DEPRECIATION

At 1 June 2016

-

21,251

1,184

22,435

Charge for year

500

11,203

424

12,127

At 31 May 2017

500

32,454

1,608

34,562

NET BOOK VALUE

At 31 May 2017

1,500

44,812

1,274

47,586

At 31 May 2016

-

52,015

1,067

53,082

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

Motor

vehicles

£

COST

At 1 June 2016

and 31 May 2017

66,496

DEPRECIATION

At 1 June 2016

17,511

Charge for year

9,797

At 31 May 2017

27,308

NET BOOK VALUE

At 31 May 2017

39,188

At 31 May 2016

48,985

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

167,745

216,986

Amounts recoverable on contract

141,771

96,022

Other debtors

1,577

1,341

311,093

314,349

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

565

-

Hire purchase contracts

12,461

10,047

Trade creditors

120,959

124,833

Taxation and social security

75,839

80,501

Other creditors

31,060

56,807

240,884

272,188

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

25,666

38,216

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

50

Ordinary B

1

50

50

150

150

The Ordinary Shares shall be non redeemable but shall hold full rights in respect of Voting, and shall entitle the

holder to full participation in respect of equity and in the event of a winding up.

The Ordinary 'B' Shares shall be non-voting shares and the registered holder thereof shares shall on a winding up

or other payment of capital, be entitled to participate in the assets of the Company, which the Company may

determine to distribute by way of dividends but only when dividends are declared for the Ordinary 'A' Shares.

Different rates of dividends may be declared and dividends may be declared for one class of share and not for the

other classes of shares.

9.	FIRST YEAR ADOPTION

The accounting policies applied under the company's previous accounting framework are not materially different

to FRS102 and have not impacted on equity or profit and loss.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 May 2017 set out on pages three to thirteen and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Freshwater Associates Limited

99 Westmead Road

Sutton

Surrey

SM1 4HX

21 February 2018