Sure Roofs Systems Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03884264 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2019

FOR

SURE ROOFS SYSTEMS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

D J Collier

R Collier

H Gunton

SECRETARY:

R Collier

REGISTERED OFFICE:

21 Market Place

Dereham

Norfolk

NR19 2AX

REGISTERED NUMBER:

03884264 (England and Wales)

ACCOUNTANTS:

Haworth & Co Limited

21 Market Place

Dereham

Norfolk

NR19 2AX

FIXED ASSETS

Tangible assets

4

142,969

173,480

CURRENT ASSETS

Stocks

125,883

142,109

Debtors

5

918,473

826,970

Cash at bank and in hand

335,458

239,542

1,379,814

1,208,621

CREDITORS

Amounts falling due within one year

6

540,785

563,607

NET CURRENT ASSETS

839,029

645,014

TOTAL ASSETS LESS CURRENT LIABILITIES

981,998

818,494

CREDITORS

Amounts falling due after more than one year

7

-

(10,425

)

PROVISIONS FOR LIABILITIES

(27,164

)

(33,100

)

NET ASSETS

954,834

774,969

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

954,832

774,967

SHAREHOLDERS' FUNDS

954,834

774,969

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 1 October 2019 and were signed on its behalf by:

D J Collier - Director

R Collier - Director

1.	STATUTORY INFORMATION

Sure Roofs Systems Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

15% on reducing balance

Stocks

Stocks 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 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.

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

period of the lease.

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 14 (2018 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 March 2018

51,682

20,273

210,632

24,175

306,762

Additions

5,250

-

-

3,055

8,305

At 28 February 2019

56,932

20,273

210,632

27,230

315,067

DEPRECIATION

At 1 March 2018

20,960

8,946

86,086

17,290

133,282

Charge for year

4,608

1,700

31,137

1,371

38,816

At 28 February 2019

25,568

10,646

117,223

18,661

172,098

NET BOOK VALUE

At 28 February 2019

31,364

9,627

93,409

8,569

142,969

At 28 February 2018

30,722

11,327

124,546

6,885

173,480

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

Motor

vehicles

£

COST

At 1 March 2018

and 28 February 2019

33,995

DEPRECIATION

At 1 March 2018

2,832

Charge for year

7,791

At 28 February 2019

10,623

NET BOOK VALUE

At 28 February 2019

23,372

At 28 February 2018

31,163

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/19

28/2/18

£

£

Trade debtors

890,353

792,075

Other debtors

28,120

34,895

918,473

826,970

Included within trade debtors are factored debts of £184,337 (2018: £182,605), which have been

arranged though HSBC Invoice Finance (UK) Limited.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/19

28/2/18

£

£

Hire purchase contracts

10,425

15,637

Payments on account

19,886

-

Trade creditors

407,292

480,930

Taxation and social security

91,500

53,308

Other creditors

11,682

13,732

540,785

563,607

Included within trade creditors is £25,572 (2018: £33,589) drawn from HSBC Invoice Finance (UK)

Limited against factored debts in trade debtors.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28/2/19

28/2/18

£

£

Hire purchase contracts

-

10,425

8.	CONTINGENT LIABILITIES

9.	OTHER FINANCIAL COMMITMENTS

HSBC have a fixed and floating charge over the undertaking and all assets in respect of any monies

due or to become due on any account whatsoever.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2019

and 28 February 2018:

28/2/19

28/2/18

£

£

H Gunton

Balance outstanding at start of year

7,825

-

Amounts repaid

(7,825

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

7,825

11.	ULTIMATE CONTROLLING PARTY

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 Balance Sheet. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Sure Roofs Systems Ltd for the year ended 28 February 2019 which comprise the

Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sure Roofs Systems Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sure Roofs Systems Ltd and state those matters that we have agreed to state to the Board of Directors of Sure Roofs Systems Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sure Roofs Systems Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sure Roofs Systems Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sure Roofs Systems Ltd. You consider that Sure Roofs Systems Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sure Roofs Systems Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haworth & Co Limited

21 Market Place

Dereham

Norfolk

NR19 2AX

1 October 2019