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REGISTERED NUMBER:
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Advanced Roofing Services Limited |
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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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REGISTERED NUMBER:
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Advanced Roofing Services Limited |
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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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Advanced Roofing Services Limited (Registered number: 02775312) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Advanced Roofing Services Limited |
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Company Information |
for the Year Ended 31 January 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Atlantic House |
8 Bell Lane |
Bellbrook Industrial Estate |
Uckfield |
East Sussex |
TN22 1QL |
Advanced Roofing Services Limited (Registered number: 02775312) |
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Balance Sheet |
31 January 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Advanced Roofing Services Limited (Registered number: 02775312) |
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Balance Sheet - continued |
31 January 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Advanced Roofing Services Limited (Registered number: 02775312) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2017 |
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1. | STATUTORY INFORMATION |
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Advanced Roofing Services Limited is a
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and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year in which the financial statements have been prepared under FRS 102 and the |
company has not been required to restate the comparative prior year amounts. There have been no |
changes to the accounting policies other than amendments to certain wording to comply with FRS |
102. The transition has not had a material effect on the financial position or financial performance of |
the company. |
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Turnover |
Turnover represents revenue, net of VAT, from commercial transactions in respect of the sales of |
roofing services to customers and it is recognised when the company obtains, through performance |
under contract, the right to consideration for those services. |
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Tangible fixed assets |
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Short leasehold | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks and short term work in progress are valued at the lower of cost and net realisable value, after |
due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less |
anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate |
proportion of fixed and variable overheads. |
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Revenue from long term contracts is recognised by stage of completion. Stage of completion is |
measured by reference to costs incurred to date as a percentage of total estimated costs for each |
contract. Where the contract outcome cannot be measured reliably, revenue is measured only to |
the extent of the expenses recognised that are recoverable. Full provision is made for losses on all |
contracts in the year in which they are first foreseen. |
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Advanced Roofing Services Limited (Registered number: 02775312) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Advanced Roofing Services Limited (Registered number: 02775312) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Motor | Computer |
leasehold | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 February 2016 |
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Additions |
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Disposals |
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At 31 January 2017 |
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DEPRECIATION |
At 1 February 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 February 2016 |
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Additions |
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Transfer to ownership | (17,788 | ) |
At 31 January 2017 |
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DEPRECIATION |
At 1 February 2016 |
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Charge for year |
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Transfer to ownership | (11,710 | ) |
At 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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Advanced Roofing Services Limited (Registered number: 02775312) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Payments on account |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 35,334 | 50,420 |
Other creditors |
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Credit card account | 2,481 | 6,095 |
Accruals and deferred income |
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Accrued expenses |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdraft |
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Hire purchase contracts | 60,828 | 99,214 |
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The loans in respect of the hire purchase agreements are secured against the assets to which they |
relate. |
Advanced Roofing Services Limited (Registered number: 02775312) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 January 2017 |
and 31 January 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The loans are unsecured, interest free and repayable on demand. |
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10. | CONTROLLING PARTY |
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The company is controlled by the directors who own 100% of the called up share capital. |