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REGISTERED NUMBER: SC416314 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

L. K. ROOFING SERVICES LIMITED

L. K. ROOFING SERVICES LIMITED (REGISTERED NUMBER: SC416314)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L. K. ROOFING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: K Scott
Mrs L Scott





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC416314 (Scotland)





ACCOUNTANTS: Cornerstone Accountants
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

L. K. ROOFING SERVICES LIMITED (REGISTERED NUMBER: SC416314)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 220,728 162,164
220,728 162,164

CURRENT ASSETS
Stocks 6 11,020 5,208
Debtors 7 79,754 124,089
Cash at bank 195,354 249,530
286,128 378,827
CREDITORS
Amounts falling due within one year 8 184,164 135,424
NET CURRENT ASSETS 101,964 243,403
TOTAL ASSETS LESS CURRENT
LIABILITIES

322,692

405,567

CREDITORS
Amounts falling due after more than one
year

9

(157,084

)

(230,417

)

PROVISIONS FOR LIABILITIES (55,182 ) (30,812 )
NET ASSETS 110,426 144,338

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 110,424 144,336
110,426 144,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

L. K. ROOFING SERVICES LIMITED (REGISTERED NUMBER: SC416314)

BALANCE SHEET - continued
28 FEBRUARY 2023


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.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





K Scott - Director


L. K. ROOFING SERVICES LIMITED (REGISTERED NUMBER: SC416314)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

L. K. Roofing Services Limited is a private company, limited by shares , registered in Scotland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on a reducing balance basis
Motor vehicles - 25% on a reducing balance basis
Computer equipment - 33% on a reducing balance basis

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

L. K. ROOFING SERVICES LIMITED (REGISTERED NUMBER: SC416314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

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 15 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 10,000
AMORTISATION
At 1 March 2022
and 28 February 2023 10,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 87,664 215,183 11,101 313,948
Additions 52,871 82,736 8,670 144,277
Disposals - (30,182 ) - (30,182 )
At 28 February 2023 140,535 267,737 19,771 428,043
DEPRECIATION
At 1 March 2022 54,115 92,038 5,631 151,784
Charge for year 21,605 48,813 4,666 75,084
Eliminated on disposal - (19,553 ) - (19,553 )
At 28 February 2023 75,720 121,298 10,297 207,315
NET BOOK VALUE
At 28 February 2023 64,815 146,439 9,474 220,728
At 28 February 2022 33,549 123,145 5,470 162,164

L. K. ROOFING SERVICES LIMITED (REGISTERED NUMBER: SC416314)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

6. STOCKS
2023 2022
£    £   
Stocks 7,920 1,982
Work-in-progress 3,100 3,226
11,020 5,208

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 69,754 124,089
Other debtors 10,000 -
79,754 124,089

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 62,500 52,083
Trade creditors 89,673 45,867
Tax 99 892
Social security and other taxes 9,345 7,128
VAT 9,391 16,441
Other creditors 528 1,003
Directors' current accounts 678 60
Accruals and deferred income 1,950 1,950
184,164 135,424

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 11,667 22,500
Other loans - 1-2 years 62,500 62,500
Other loans - 2-5 years 72,917 135,417
157,084 230,417