Chorley Rooftech Limited - Accounts to registrar (filleted) - small 18.2

Chorley Rooftech Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 11451645 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st July 2020

for

Chorley Rooftech Limited

Chorley Rooftech Limited (Registered number: 11451645)






Contents of the Financial Statements
for the year ended 31st July 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chorley Rooftech Limited

Company Information
for the year ended 31st July 2020







DIRECTOR: S J Hamer





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 11451645 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Chorley Rooftech Limited (Registered number: 11451645)

Balance Sheet
31st July 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,104 35,853

CURRENT ASSETS
Stocks 22,735 12,520
Debtors 5 18,763 3,579
Cash at bank and in hand 51,819 11,666
93,317 27,765
CREDITORS
Amounts falling due within one year 6 49,380 26,183
NET CURRENT ASSETS 43,937 1,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,041

37,435

CREDITORS
Amounts falling due after more than one
year

7

(69,186

)

(36,257

)

PROVISIONS FOR LIABILITIES (6,290 ) -
NET ASSETS 1,565 1,178

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,465 1,078
1,565 1,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2020 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

Chorley Rooftech Limited (Registered number: 11451645)

Balance Sheet - continued
31st July 2020



The financial statements were approved by the director and authorised for issue on 1st December 2020 and were signed by:





S J Hamer - Director


Chorley Rooftech Limited (Registered number: 11451645)

Notes to the Financial Statements
for the year ended 31st July 2020

1. STATUTORY INFORMATION

Chorley Rooftech 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.

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 etc - 25% on reducing balance and 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.

Chorley Rooftech Limited (Registered number: 11451645)

Notes to the Financial Statements - continued
for the year ended 31st July 2020

2. ACCOUNTING POLICIES - continued

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 2 (2019 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2019 38,387
Additions 10,495
Disposals (3,116 )
At 31st July 2020 45,766
DEPRECIATION
At 1st August 2019 2,534
Charge for year 10,907
Eliminated on disposal (779 )
At 31st July 2020 12,662
NET BOOK VALUE
At 31st July 2020 33,104
At 31st July 2019 35,853

Chorley Rooftech Limited (Registered number: 11451645)

Notes to the Financial Statements - continued
for the year ended 31st July 2020

4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1st August 2019 37,272
Additions 10,495
Disposals (3,116 )
Transfer to ownership (3,818 )
At 31st July 2020 40,833
DEPRECIATION
At 1st August 2019 2,367
Charge for year 10,767
Eliminated on disposal (779 )
At 31st July 2020 12,355
NET BOOK VALUE
At 31st July 2020 28,478
At 31st July 2019 34,905

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 2,800 3,579
Other debtors 15,963 -
18,763 3,579

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Hire purchase contracts 7,085 8,437
Trade creditors 10,958 6,515
Taxation and social security 22,714 8,262
Other creditors 8,623 2,969
49,380 26,183

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Bank loans 40,000 -
Hire purchase contracts 29,186 24,316
Other creditors - 11,941
69,186 36,257

Chorley Rooftech Limited (Registered number: 11451645)

Notes to the Financial Statements - continued
for the year ended 31st July 2020

8. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Hire purchase contracts 36,271 32,753

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31st July 2020 and the period ended 31st July 2019:

2020 2019
£    £   
S J Hamer
Balance outstanding at start of year - -
Amounts advanced 15,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,000 -

The director's loan account is repayable within 9 months of the accounting period end. Interest is charged at 2.5%pa by the Company. .

10. RELATED PARTY DISCLOSURES

The director advanced the Company an interest free loan during the previous accounting period. The balance outstanding on this loan at the beginning of this accounting period of £11,941 was repaid in full during this accounting period.

The Company occupies premises owned by the director rent free, by agreement.

11. ULTIMATE CONTROLLING PARTY

The controlling party is S J Hamer.