Lead-Tech Roofing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02730289 (England and Wales)

Unaudited Financial Statements For The Year Ended 31st March 2018

for

Lead-Tech Roofing Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M P Walsh

SECRETARY:

Mrs M Walsh

REGISTERED OFFICE:

44 Sherbrooke Way

The Hampton's

Worcester Park

Surrey

KT4 8BP

REGISTERED NUMBER:

02730289 (England and Wales)

ACCOUNTANTS:

S Turner & Co

Chartered Certified Accountants

30 Dacre Gardens

Chigwell

Essex

IG7 5HG

FIXED ASSETS

Tangible assets

4

67,302

70,401

CURRENT ASSETS

Stocks

5

195,966

184,721

Debtors

6

160,597

150,380

Cash at bank and in hand

44,310

26,474

400,873

361,575

CREDITORS

Amounts falling due within one year

7

301,560

237,162

NET CURRENT ASSETS

99,313

124,413

TOTAL ASSETS LESS CURRENT LIABILITIES

166,615

194,814

CREDITORS

Amounts falling due after more than one year

8

(79,196

)

(86,537

)

PROVISIONS FOR LIABILITIES

(5,842

)

-

NET ASSETS

81,577

108,277

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

81,575

108,275

SHAREHOLDERS' FUNDS

81,577

108,277

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 18th December 2018 and were signed by:

M P Walsh - Director

1.	STATUTORY INFORMATION

Lead-Tech 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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.

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st April 2017

16,773

101,219

117,992

Additions

-

18,737

18,737

At 31st March 2018

16,773

119,956

136,729

DEPRECIATION

At 1st April 2017

13,782

33,809

47,591

Charge for year

299

21,537

21,836

At 31st March 2018

14,081

55,346

69,427

NET BOOK VALUE

At 31st March 2018

2,692

64,610

67,302

At 31st March 2017

2,991

67,410

70,401

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

Motor

vehicles

£

COST

At 1st April 2017

101,219

Additions

18,737

At 31st March 2018

119,956

DEPRECIATION

At 1st April 2017

33,809

Charge for year

21,537

At 31st March 2018

55,346

NET BOOK VALUE

At 31st March 2018

64,610

At 31st March 2017

67,410

5.

STOCKS

31.3.18

31.3.17

£

£

Work-in-progress

195,966

184,721

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

156,233

140,422

Other debtors

-

5,897

Prepayments

4,364

4,061

160,597

150,380

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

22,318

10,788

Trade creditors

137,789

74,024

Tax

3,560

21,524

Social security and other taxes

91,705

73,900

Other creditors

161

-

Directors' current accounts

7,844

18,419

Accrued expenses

38,183

38,507

301,560

237,162

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

79,196

86,537

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 (2017 - £5,000) were paid to the director .

The company was under the control of the director Mr M P Walsh throughout the accounting period.