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CP ROOFING SOLUTIONS LTD

Registered Number
SC572055
(Scotland)

Unaudited Financial Statements for the Year ended
31 July 2023

CP ROOFING SOLUTIONS LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

SHAW, Chris

Registered Address

Mckellar Accountancy, Unit 3.2
1 Macdowall Street
Paisley
PA3 2NB

Registered Number

SC572055 (Scotland)
CP ROOFING SOLUTIONS LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets326,68935,500
26,68935,500
Current assets
Stocks415,0007,000
Debtors576,465112,455
Cash at bank and on hand2,0434,400
93,508123,855
Creditors amounts falling due within one year6(77,640)(58,355)
Net current assets (liabilities)15,86865,500
Total assets less current liabilities42,557101,000
Creditors amounts falling due after one year7(29,685)(50,852)
Net assets12,87250,148
Capital and reserves
Called up share capital100100
Profit and loss account12,77250,048
Shareholders' funds12,87250,148
The financial statements were approved and authorised for issue by the Director on 30 July 2024, and are signed on its behalf by:
SHAW, Chris
Director
Registered Company No. SC572055
CP ROOFING SOLUTIONS LTD
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year64
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 August 2241,59541,595
At 31 July 2341,59541,595
Depreciation and impairment
At 01 August 226,0956,095
Charge for year8,8118,811
At 31 July 2314,90614,906
Net book value
At 31 July 2326,68926,689
At 31 July 2235,50035,500
4.Stocks

2023

2022

££
Raw materials and consumables15,0007,000
Total15,0007,000
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables76,465104,962
Other debtors-7,493
Total76,465112,455
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables39,87020,401
Bank borrowings and overdrafts2,3572,357
Taxation and social security21,46428,075
Finance lease and HP contracts8,2473,716
Other creditors5,7023,806
Total77,64058,355
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts11,62413,922
Other creditors18,06136,930
Total29,68550,852
8.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts18,06036,930