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REGISTERED NUMBER: SC416036 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Metal Tech Roofing & Cladding Ltd

Metal Tech Roofing & Cladding Ltd (Registered number: SC416036)






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

Chartered Accountants' Report 9

Metal Tech Roofing & Cladding Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: G Simmons
D A Terras





REGISTERED OFFICE: Kelvin House
87 Calder Street
Coatbridge
ML5 4RY





REGISTERED NUMBER: SC416036 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Metal Tech Roofing & Cladding Ltd (Registered number: SC416036)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 32,626 13,337

CURRENT ASSETS
Stocks 2,207,138 1,882,349
Debtors 6 299,779 143,857
Cash at bank 593,516 376,423
3,100,433 2,402,629
CREDITORS
Amounts falling due within one year 7 2,026,634 1,347,717
NET CURRENT ASSETS 1,073,799 1,054,912
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,106,425

1,068,249

CREDITORS
Amounts falling due after more than one
year

8

(487,551

)

(668,565

)

PROVISIONS FOR LIABILITIES (6,199 ) (2,534 )
NET ASSETS 612,675 397,150

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 612,575 397,050
SHAREHOLDERS' FUNDS 612,675 397,150

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.

Metal Tech Roofing & Cladding Ltd (Registered number: SC416036)

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 29 November 2023 and were signed on its behalf by:





G Simmons - Director


Metal Tech Roofing & Cladding Ltd (Registered number: SC416036)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Metal Tech Roofing & Cladding Ltd 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover is derived from roofing and cladding services supplied by the company.

Turnover is measured at the fair value of these services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Retentions are accounted for on a cash basis as and when they are received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

Work in progress is stated at the lower of cost and net realisable value. Costs comprise direct material and labour costs, plus attributable overheads based on a normal level of activity. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.


Metal Tech Roofing & Cladding Ltd (Registered number: SC416036)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 30 ) .

Metal Tech Roofing & Cladding Ltd (Registered number: SC416036)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 152,970
Additions 30,612
At 28 February 2023 183,582
DEPRECIATION
At 1 March 2022 139,633
Charge for year 11,323
At 28 February 2023 150,956
NET BOOK VALUE
At 28 February 2023 32,626
At 28 February 2022 13,337

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 30,612
At 28 February 2023 30,612
DEPRECIATION
Charge for year 2,874
At 28 February 2023 2,874
NET BOOK VALUE
At 28 February 2023 27,738

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 135,577 12,729
Other debtors 164,202 131,128
299,779 143,857

Metal Tech Roofing & Cladding Ltd (Registered number: SC416036)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 184,563 179,100
Hire purchase contracts 20,635 -
Trade creditors 1,026,096 579,801
Taxation and social security 403,732 348,352
Other creditors 391,608 240,464
2,026,634 1,347,717

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 484,002 668,565
Hire purchase contracts 3,549 -
487,551 668,565

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 668,565 847,665

The bank loan is supported by a 100% guarantee from the UK Government.

10. PENSION COMMITMENTS

Included within other creditors are contributions totalling £7,768 which were due to the pension scheme at the year end (2022: £5,667).

Metal Tech Roofing & Cladding Ltd (Registered number: SC416036)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

11. RELATED PARTY DISCLOSURES

Tersim Holdings Ltd
During the year, transactions took place with Tersim Holding Ltd, a company which holds 100% of the share capital in the Metal Tech Roofing and Cladding Ltd. During the year, Metal Tech Roofing & Cladding Ltd repaid loans to Tersim Holdings Ltd of £60,734. At the year end, the balance due to Tersim Holdings Ltd was £212,299 (2022: £151,565). There are no fixed repayment terms and no interest charged.

AG Roofing & Cladding Ltd
During the year, transactions took place with AG Roofing and Cladding Ltd, a company which G Simmons is also a director. Metal Tech Roofing and Cladding Ltd paid £38,088 (2022: £45,705) in management fees to AG Roofing and Cladding Ltd. At the year end, the balance owed to AG Roofing & Cladding Ltd was £Nil (2022: £5,734). There are no fixed repayment terms and no interest charged.

Brightskye Ltd
Brighskye Ltd is a company in which G Simmons is also a director. At the year end, the balance owed to Metal Tech Roofing & Cladding Ltd by this company was £96,237 (2022: £96,237). There are no fixed repayment terms and no interest charged.

MT Structure Ltd
MT Structure Ltd is a company in which G Simmons is also a director. At the year end the balance owed to Metal Tech Roofing & Cladding Ltd by this company was £3,621 (2022: £3,621). There are no fixed repayment terms and no interest charged.

MT Facades Ltd
MT Facades Ltd is a company in which G Simmons is also a director. At the year end, the balance owed to Metal Tech Roofing & Cladding Ltd was £325 (2022: £325). There are no fixed repayment terms and no interest charged.

MT Small Works Ltd
MT Small Works Ltd is a company which G Simmons is also a director. At the the year end the balance owed to Metal Tech Roofing & Cladding Ltd was £1,083 (2022: £325). There are no fixed repayment terms and no interest charged.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Metal Tech Roofing & Cladding Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Metal Tech Roofing & Cladding Ltd for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Metal Tech Roofing & Cladding Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Metal Tech Roofing & Cladding Ltd and state those matters that we have agreed to state to the Board of Directors of Metal Tech Roofing & Cladding Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Metal Tech Roofing & Cladding Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Metal Tech Roofing & Cladding Ltd. You consider that Metal Tech Roofing & Cladding Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Metal Tech Roofing & Cladding Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


29 November 2023