Inventiv Roofing Solutions Limited
Registered number: 04747562
Balance Sheet
as at 31 December 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 8,891 11,114
Current assets
Stocks 214,422 267,666
Debtors 3 324,932 345,570
Cash at bank and in hand 6,568 296
545,922 613,532
Creditors: amounts falling due within one year 4 (525,659) (595,249)
Net current assets 20,263 18,283
Total assets less current liabilities 29,154 29,397
Provisions for liabilities (1,689) (2,223)
Net assets 27,465 27,174
Capital and reserves
Called up share capital 100 100
Profit and loss account 27,365 27,074
Shareholders' funds 27,465 27,174
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
G House
Director
Approved by the board on 4 May 2018
Inventiv Roofing Solutions Limited
Notes to the Accounts
for the year ended 31 December 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.
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.
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:
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2017 1,750 28,597 30,347
At 31 December 2017 1,750 28,597 30,347
Depreciation
At 1 January 2017 1,750 17,483 19,233
Charge for the year - 2,223 2,223
At 31 December 2017 1,750 19,706 21,456
Net book value
At 31 December 2017 - 8,891 8,891
At 31 December 2016 - 11,114 11,114
3 Debtors 2017 2016
£ £
Trade debtors 44,450 76,008
Other debtors 280,482 269,562
324,932 345,570
4 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 12,871 78,699
Trade creditors 463,893 455,671
Corporation tax 14,272 3,587
Other taxes and social security costs 19,669 20,196
Other creditors 14,954 37,096
525,659 595,249
5 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
G House
Directors loan account 57,154 55,333 - 112,487
57,154 55,333 - 112,487
6 Related party transactions
Inventiv Contract Carpentry Ltd has G House as the common director and there were payments totalling £1,422 (2016 - £311) on behalf of this company. The amount outstanding at the year end was £110,992 (2016- £109,570)

Nylo Ltd has G House as the common director and the amount outstanding at the year end was £255 (2016 - £255)
7 Controlling party
The company is ultimatly controlled by Mr G House by virtue of his shareholding.
8 Other information
Inventiv Roofing Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Branksome Business Park
Bourne Valley Road
Poole
Dorset
BH12 1DW
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