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Unaudited Financial Statements |
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for the Year Ended 30th June 2019 |
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for |
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The Hilo Roof Company Limited |
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Unaudited Financial Statements |
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for the Year Ended 30th June 2019 |
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for |
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The Hilo Roof Company Limited |
The Hilo Roof Company Limited (Registered number: 08104434) |
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Contents of the Financial Statements |
for the year ended 30th June 2019 |
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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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The Hilo Roof Company Limited |
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Company Information |
for the year ended 30th June 2019 |
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DIRECTOR: |
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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 Certified Accountants |
Black Bull House |
353-355 Station Road |
Bamber Bridge |
Preston |
Lancashire |
PR5 6EE |
The Hilo Roof Company Limited (Registered number: 08104434) |
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Balance Sheet |
30th June 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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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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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 Hilo Roof Company Limited (Registered number: 08104434) |
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Balance Sheet - continued |
30th June 2019 |
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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 director and authorised for issue on
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The Hilo Roof Company Limited (Registered number: 08104434) |
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Notes to the Financial Statements |
for the year ended 30th June 2019 |
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1. | STATUTORY INFORMATION |
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The Hilo Roof Company Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less |
any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
The Hilo Roof Company Limited (Registered number: 08104434) |
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Notes to the Financial Statements - continued |
for the year ended 30th June 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Going concern |
At the balance sheet date, the company's current liabilities exceeded its current assets. The company has received |
assurance from the ultimate director that they will continue to give financial support to the company for the twelve |
months from the date of signing these financial accounts. |
On this basis, the director considers it appropriate to prepare the accounts on a going concern basis. However, should |
the financial support mentioned above not be forthcoming, the going concern basis used in the preparing the |
company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their |
realisable amount and provide for any further liabilities which might arise. |
The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this |
basis not continue to be appropriate. |
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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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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1st July 2018 |
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Additions |
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At 30th June 2019 |
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AMORTISATION |
At 1st July 2018 |
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Charge for year |
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At 30th June 2019 |
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NET BOOK VALUE |
At 30th June 2019 |
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At 30th June 2018 |
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The Hilo Roof Company Limited (Registered number: 08104434) |
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Notes to the Financial Statements - continued |
for the year ended 30th June 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st July 2018 |
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Additions |
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At 30th June 2019 |
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DEPRECIATION |
At 1st July 2018 |
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Charge for year |
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At 30th June 2019 |
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NET BOOK VALUE |
At 30th June 2019 |
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At 30th June 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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Other creditors |
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The Hilo Roof Company Limited (Registered number: 08104434) |
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Notes to the Financial Statements - continued |
for the year ended 30th June 2019 |
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9. | LEASING AGREEMENTS |
The company has rent commitments of £14,520 per annum which expires on 17th April 2021. |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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The bank loan is secured against three motor vehicles owned by the company. |
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11. | ULTIMATE CONTROLLING PARTY |
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During the year under review the company was under the ultimate control of Mr W Pendlebury and Mr M |
Pendlebury who own 100% of the issued share capital. |