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REGISTERED NUMBER: SC413418 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Ray Sutherland Roofing Contractors Ltd

Ray Sutherland Roofing Contractors Ltd (Registered number: SC413418)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Ray Sutherland Roofing Contractors Ltd (Registered number: SC413418)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 64,559 172,550
Investments 6 1 1
64,560 172,551

CURRENT ASSETS
Stocks 14,342 5,000
Debtors 7 78,454 84,579
Cash at bank and in hand 6,751 39,853
99,547 129,432
CREDITORS
Amounts falling due within one year 8 103,339 118,322
NET CURRENT (LIABILITIES)/ASSETS (3,792 ) 11,110
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,768

183,661

CREDITORS
Amounts falling due after more than
one year

9

(40,549

)

(34,236

)

PROVISIONS FOR LIABILITIES (12,266 ) (11,545 )
NET ASSETS 7,953 137,880

Ray Sutherland Roofing Contractors Ltd (Registered number: SC413418)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 7,923 137,850
7,953 137,880

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

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

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 18 September 2024 and were signed on its behalf by:





D Sutherland - Director


Ray Sutherland Roofing Contractors Ltd (Registered number: SC413418)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ray Sutherland Roofing Contractors Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC413418

Registered office: Ray Sutherland Yard
Galafoot Road
Galashiels
Borders
TD1 3HH

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.

Going concern
Particularly in respect of the Coronavirus pandemic, the directors have considered carefully a period of 12 months from the date of approval of the financial statements. The company took out a Government backed loan to maintain cashflow which they see no issue in being able to repay. The company has traded profitably since the year end and the directors consider that there are no matters that cause significant doubt about the ability of the company to continue as a going concern. The directors therefore believe that the going concern basis is appropriate in preparing these financial statements.

Turnover
Turnover represents the value of goods and services invoices excluding Value Added Tax, recognised when services have been provided rather than invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of six years.

Ray Sutherland Roofing Contractors Ltd (Registered number: SC413418)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Improvements to property - 20% reducing balance
Plant and machinery - 25% reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost includes all handling costs in bringing the stock to site with goods valued on a first in first out basis.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes contractually party to the provisions of the instrument.

Basic financial assets including debtors, cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial assets receivable within one month are not amortised.

Basic financial liabilities including creditors and loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Bank overdrafts are shown within current liabilities.

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.


Ray Sutherland Roofing Contractors Ltd (Registered number: SC413418)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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

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 the estimated useful lives or the lease term, whichever is shorter.

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

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 16 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023
and 31 December 2023 30,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Ray Sutherland Roofing Contractors Ltd (Registered number: SC413418)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 111,785 127,109 238,894
Additions - 33,087 33,087
Disposals (111,785 ) (14,000 ) (125,785 )
At 31 December 2023 - 146,196 146,196
DEPRECIATION
At 1 January 2023 - 66,344 66,344
Charge for year - 22,168 22,168
Eliminated on disposal - (6,875 ) (6,875 )
At 31 December 2023 - 81,637 81,637
NET BOOK VALUE
At 31 December 2023 - 64,559 64,559
At 31 December 2022 111,785 60,765 172,550

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 77,761 81,725
Other debtors 693 2,854
78,454 84,579

Ray Sutherland Roofing Contractors Ltd (Registered number: SC413418)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 10)
12,124

5,799
Trade creditors 40,622 21,378
Taxation and social security 32,563 44,542
Other creditors 8,030 36,603
103,339 118,322

Government backed Bounce Back loan repayments amounting to £10,000 plus interest are due within one year.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,167 24,167
Hire purchase contracts (see note 10)
26,382

10,069
40,549 34,236

Government backed Bounce Back loan repayments amounting to £14,167 plus interest are due between one and five years.

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 12,124 5,799
Between one and five years 26,382 10,069
38,506 15,868

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 38,506 15,868

Ray Sutherland Roofing Contractors Ltd (Registered number: SC413418)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
D Sutherland
Balance outstanding at start of year (1,983 ) 2,369
Amounts advanced 43,987 31,048
Amounts repaid (42,500 ) (35,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (496 ) (1,983 )

13. RELATED PARTY DISCLOSURES

During the year the company purchased services to the value of £100,986 from D9 Scaffolding Ltd, a company in which both directors are shareholders. The company sold goods and services to the value of £26,253 to D9 Scaffolding Ltd. The transactions took place at market value. At the year end the company was due £16,264 to D9 Scaffolding Ltd and £12,839 from D9 Scaffolding Ltd.