I-roof Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07978379 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

I-ROOF LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D Remfry

REGISTERED OFFICE:

409-411 Croydon Road

Beckenham

Kent

BR3 3PP

REGISTERED NUMBER:

07978379 (England and Wales)

ACCOUNTANTS:

Edwards Chartered Accountants

409-411 Croydon Road

Beckenham

Kent

BR3 3PP

FIXED ASSETS

Intangible assets

2

20,600

24,033

Tangible assets

3

55,646

50,443

76,246

74,476

CURRENT ASSETS

Stocks

138,590

-

Debtors

396,950

463,128

Cash at bank

15,900

10,324

551,440

473,452

CREDITORS

Amounts falling due within one year

773,663

488,443

NET CURRENT LIABILITIES

(222,223

)

(14,991

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(145,977

)

59,485

CREDITORS

Amounts falling due after more than one
year

(33,868

)

(23,373

)

PROVISIONS FOR LIABILITIES

(7,501

)

(10,088

)

NET (LIABILITIES)/ASSETS

(187,346

)

26,024

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(187,446

)

25,924

SHAREHOLDERS' FUNDS

(187,346

)

26,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 31 December 2016 and were signed by:

D Remfry - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

34,332

AMORTISATION

At 1 April 2015

10,299

Amortisation for year

3,433

At 31 March 2016

13,732

NET BOOK VALUE

At 31 March 2016

20,600

At 31 March 2015

24,033

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

69,108

Additions

23,144

Disposals

(8,286

)

At 31 March 2016

83,966

DEPRECIATION

At 1 April 2015

18,665

Charge for year

13,474

Eliminated on disposal

(3,819

)

At 31 March 2016

28,320

NET BOOK VALUE

At 31 March 2016

55,646

At 31 March 2015

50,443

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

5.	TRANSACTIONS WITH DIRECTORS

During the year, the company voted dividends of £37,554 to the director.