REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2017 |
for |
A & J Roofing (Haslemere) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2017 |
for |
A & J Roofing (Haslemere) Limited |
A & J Roofing (Haslemere) Limited (Registered number: 05736783) |
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
A & J Roofing (Haslemere) Limited |
Company Information |
for the Year Ended 31 March 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
24 Picton House |
Hussar Court |
Waterlooville |
Hampshire |
PO7 7SQ |
A & J Roofing (Haslemere) Limited (Registered number: 05736783) |
Balance Sheet |
31 March 2017 |
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
A & J Roofing (Haslemere) Limited (Registered number: 05736783) |
Balance Sheet - continued |
31 March 2017 |
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 |
A & J Roofing (Haslemere) Limited (Registered number: 05736783) |
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
1. | STATUTORY INFORMATION |
A & J Roofing (Haslemere) Limited is a |
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 |
Financial Reporting Standard 102 - Reduced Disclosure Exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as |
permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
- the requirements of Section 7 Statement of Cash Flows - Presentation of a Statement of Cash Flow and related notes and |
disclosures; |
- the requirements of Section 11 'Basic Financial Instruments' & Section 12 'Other Financial Instrument Issues' - Carrying |
amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair |
values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in the profit |
or loss and in other comprehensive income. |
- Section 33 'Related Party Disclosures' - Compensation for key management personnel. |
First time adoption of FRS 102 |
These financial statements are the first financial statements of A & J Roofing (Haslemere) Limited prepared in accordance |
with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' |
(FRS 102). The financial statements of A & J Roofing (Haslemere) Limited for the year ended 31 March 2016 were |
prepared in accordance with previous UK GAAP. |
Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy choices |
differ from previous UK GAAP. Consequently, the directors have amended certain accounting policies to comply with FRS |
102. The directors have also taken advantage of certain exemptions from the requirements of FRS 102 permitted by FRS |
102 Chapter 35 'Transition to this FRS'. |
Comparative figures have been restated to reflect the adjustments made, except to the extent that the directors have taken |
advantage of exemptions to retrospective application of FRS 102 permitted by FRS 102 Chapter 35 'Transition to this FRS'. |
Adjustments are recognised directly in equity within the cumulative profit and loss account at the transition date. |
Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise indicated. |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
accumulated amortisation and any accumulated impairment losses. |
A & J Roofing (Haslemere) Limited (Registered number: 05736783) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Computer equipment | - |
Depreciation of Plant and machinery and Motor Vehicle has been removed for this year as the brought forward net book |
value is equal to the current value of the assets. |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
A & J Roofing (Haslemere) Limited (Registered number: 05736783) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
AMORTISATION |
At 1 April 2016 |
and 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
5. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2016 |
and 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
Charge for year |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 April 2016 |
Transfer to ownership | (10,500 | ) |
At 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
Transfer to ownership | (6,070 | ) |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
A & J Roofing (Haslemere) Limited (Registered number: 05736783) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2017 and 31 March 2016: |
31.3.17 | 31.3.16 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
9. | FIRST YEAR ADOPTION |
The company transitioned to FRS 102 from previously extant UK GAAP as at 1 April 2016. |
There has been no impact on the equity of the company or the profit previously reported as a result of the transition. |