AB Roofing Solutions Limited - Filleted accounts

Registered number

07298992

AB Roofing Solutions Limited

Filleted Accounts

31 March 2017

AB Roofing Solutions Limited
Registered number:		07298992
Balance Sheet
as at 31 March 2017

Notes			2017		2016

Fixed assets
Intangible assets	3		3,450		4,450
Tangible assets	4		93,385		47,106
			96,835		51,556

Current assets
Debtors	5	221,907		87,708
Cash at bank and in hand		56,494		55,363
		278,401		143,071

Creditors: amounts falling due within one year	6	(152,867)		(91,419)

Net current assets			125,534		51,652

Total assets less current liabilities			222,369		103,208

Creditors: amounts falling due after more than one year	7		(40,957)		(16,982)

Provisions for liabilities			(16,796)		(8,205)


Net assets			164,616		78,021

Capital and reserves
Called up share capital			100		100
Profit and loss account			164,516		77,921

Shareholder's funds			164,616		78,021

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



A Burgess
Director
Approved by the board on 11 July 2017

AB Roofing Solutions Limited
Notes to the Accounts
for the year ended 31 March 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	15% reducing balance
	Motor vehicles	25% reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees		2017		2016
Number				Number

	Average number of persons employed by the company		4		4


3	Intangible fixed assets
	Goodwill:

	Cost
	At 1 April 2016				10,000
	At 31 March 2017				10,000

	Amortisation
	At 1 April 2016				5,550
	Provided during the year				1,000
	At 31 March 2017				6,550

	Net book value
	At 31 March 2017				3,450
	At 31 March 2016				4,450

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
		Plant and machinery etc	Motor vehicles		Total

	Cost
	At 1 April 2016	29,069	46,641		75,710
	Additions	-	75,429		75,429
	At 31 March 2017	29,069	122,070		151,139

	Depreciation
	At 1 April 2016	14,219	14,385		28,604
	Charge for the year	2,227	26,923		29,150
	At 31 March 2017	16,446	41,308		57,754

	Net book value
	At 31 March 2017	12,623	80,762		93,385
	At 31 March 2016	14,850	32,256		47,106


5	Debtors		2017		2016


	Trade debtors		165,876		45,144
	Other debtors		56,031		42,564
			221,907		87,708


6	Creditors: amounts falling due within one year		2017		2016


	Bank loans and overdrafts		16,281		-
	Obligations under finance lease and hire purchase contracts		12,493		2,073
	Trade creditors		41,172		71,679
	Corporation tax		32,196		16,214
	Other taxes and social security costs		40,803		-
	Other creditors		9,922		1,453
			152,867		91,419


7	Creditors: amounts falling due after one year		2017		2016


	Obligations under finance lease and hire purchase contracts		40,957		16,982


8	Other information

	AB Roofing Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
	1 Canal Street
	Sheffield
	South Yorkshire
	S4 7ZE