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REGISTERED NUMBER: SC157962 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

ROOFING SOLUTIONS (SCOTLAND) LIMITED

ROOFING SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC157962)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ROOFING SOLUTIONS (SCOTLAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: John Brannigan
Susan Brannigan



REGISTERED OFFICE: 70 Muirhead Road
Baillieston
Glasgow
G69 7HB



REGISTERED NUMBER: SC157962 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: Bank of Scotland
39 Union Street
Larkhall
ML9 1DT



SOLICITORS: Pomphreys Solicitors
1 Kenilworth Avenue
Wishaw
ML2 7LP

ROOFING SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC157962)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,651 15,591

CURRENT ASSETS
Stocks 110,000 110,000
Debtors 5 93,931 217,187
Cash at bank 492,385 335,905
696,316 663,092
CREDITORS
Amounts falling due within one year 6 241,773 203,156
NET CURRENT ASSETS 454,543 459,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

492,194

475,527

PROVISIONS FOR LIABILITIES 9,412 2,962
NET ASSETS 482,782 472,565

CAPITAL AND RESERVES
Called up share capital 300 250
Retained earnings 482,482 472,315
SHAREHOLDERS' FUNDS 482,782 472,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ROOFING SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC157962)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 6 November 2023 and were signed on its behalf by:





John Brannigan - Director


ROOFING SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC157962)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Roofing Solutions (Scotland) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Rendering of services
Turnover from the rendering of services, namely the provision of industrial roofing services, is recognised by reference to the stage of completion of the service at the statement of financial position date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the income statement.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

ROOFING SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC157962)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 the income statement in the period to which they relate.

Provisions for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

ROOFING SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC157962)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
Equipment fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2022 9,440 2,819 47,909 60,168
Additions 2,727 - 36,020 38,747
At 31 May 2023 12,167 2,819 83,929 98,915
DEPRECIATION
At 1 June 2022 9,188 2,818 32,571 44,577
Charge for year 593 - 16,094 16,687
At 31 May 2023 9,781 2,818 48,665 61,264
NET BOOK VALUE
At 31 May 2023 2,386 1 35,264 37,651
At 31 May 2022 252 1 15,338 15,591

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 56,037 75,546
Directors' loan 33,382 141,641
Prepaid charges 4,512 -
93,931 217,187

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 73,802 18,385
Corporation tax 51,478 59,389
PAYE and NIC 1,344 1,972
VAT 17,226 35,469
Other creditors 321 545
Deferred income 50,000 80,000
Accrued charges 47,602 7,396
241,773 203,156

ROOFING SOLUTIONS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC157962)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following net advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
Alan Clark
Balance outstanding at start of year - (4,509 )
Amounts advanced - 4,509
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

John Brannigan
Balance outstanding at start of year 166,641 (6,527 )
Amounts advanced - 173,168
Amounts repaid (133,259 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,382 166,641

The above balance, which is due from/(to) the director, is interest free, unsecured and has no fixed repayment terms.