Roofmatters Limited - Period Ending 2017-06-30

Roofmatters Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 June 2017

Registration number: 08123416

Roofmatters Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 5

Roofmatters Limited

Balance Sheet

30 June 2017

	Note	2017 £	2016 £
Current assets
Debtors	3	1,666	9,457
Cash at bank and in hand		2	2
		1,668	9,459
Creditors: Amounts falling due within one year	4	(1,666)	(9,457)
Net assets		2	2
Capital and reserves
Called up share capital	5	2	2
Total equity		2	2

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 1

Roofmatters Limited

Balance Sheet

30 June 2017

For the financial year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 January 2018
 

Mr M W Ward

Director

Company Registration Number: 08123416

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

Roofmatters Limited

Notes to the Financial Statements

Year Ended 30 June 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

These financial statements were authorised for issue by the director on 29 January 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that, as disclosed in the accounting policies, certain items are shown at fair value.

The functional and presentational currency is pounds sterling.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The company has transferred from previously extant UK GAAP to FRS102 as at 1 July 2015. There is no material impact on the reported financial position and financial performance.

Revenue recognition

Turnover comprises rent and expenses recharged in the ordinary course of the company’s activities, and is shown net of value added tax.

The company recognises revenue when it can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

Roofmatters Limited

Notes to the Financial Statements

Year Ended 30 June 2017

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3

Debtors

	2017  £	2016  £
Prepayments and accrued income	1,666	9,457
	1,666	9,457

4

Creditors

	2017  £	2016  £
Due within one year
Accrued expenses and deferred income	1,666	9,457

5	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

Page 4

Roofmatters Limited

Notes to the Financial Statements

Year Ended 30 June 2017

6	Financial commitments, guarantees and contingencies

The total amount of financial commitments not included in the balance sheet is £558,250 (2016 - £545,417).

7	Related party transactions

Summary of transactions with other related parties

Bankbond Limited
(a company owned by the director's wife).
 During the year rent and expenses totalling £126,232 (2016 - £96,145) were recharged to Bankbond Limited. As at the balance sheet date the amount due from Bankbond Limited was £nil (2016 - £nil).
 

8	Transition to FRS 102

The company transitioned to FRS102 from previously extant UK GAAP as at 1 July 2015.

There were no changes to the previously stated equity at 1 July 2015 and 30 June 2016 or in the result for the year ended 30 June 2016 as a result of the transition to FRS102.

Page 5