Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truefalsetrue2023-01-01No description of principal activityfalse6065 SC123604 2023-01-01 2023-12-31 SC123604 2022-01-01 2022-12-31 SC123604 2023-12-31 SC123604 2022-12-31 SC123604 c:CompanySecretary1 2023-01-01 2023-12-31 SC123604 c:Director1 2023-01-01 2023-12-31 SC123604 c:Director2 2023-01-01 2023-12-31 SC123604 c:Director5 2023-01-01 2023-12-31 SC123604 c:Director6 2023-01-01 2023-12-31 SC123604 c:Director6 2023-12-31 SC123604 c:RegisteredOffice 2023-01-01 2023-12-31 SC123604 d:PlantMachinery 2023-01-01 2023-12-31 SC123604 d:PlantMachinery 2023-12-31 SC123604 d:PlantMachinery 2022-12-31 SC123604 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC123604 d:MotorVehicles 2023-01-01 2023-12-31 SC123604 d:MotorVehicles 2023-12-31 SC123604 d:MotorVehicles 2022-12-31 SC123604 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC123604 d:OfficeEquipment 2023-01-01 2023-12-31 SC123604 d:OfficeEquipment 2023-12-31 SC123604 d:OfficeEquipment 2022-12-31 SC123604 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC123604 d:ComputerEquipment 2023-01-01 2023-12-31 SC123604 d:ComputerEquipment 2023-12-31 SC123604 d:ComputerEquipment 2022-12-31 SC123604 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC123604 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 SC123604 d:OtherPropertyPlantEquipment 2023-12-31 SC123604 d:OtherPropertyPlantEquipment 2022-12-31 SC123604 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC123604 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC123604 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 SC123604 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 SC123604 d:CurrentFinancialInstruments 2023-12-31 SC123604 d:CurrentFinancialInstruments 2022-12-31 SC123604 d:Non-currentFinancialInstruments 2023-12-31 SC123604 d:Non-currentFinancialInstruments 2022-12-31 SC123604 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC123604 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC123604 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC123604 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC123604 d:ShareCapital 2023-12-31 SC123604 d:ShareCapital 2022-12-31 SC123604 d:SharePremium 2023-12-31 SC123604 d:SharePremium 2022-12-31 SC123604 d:CapitalRedemptionReserve 2023-12-31 SC123604 d:CapitalRedemptionReserve 2022-12-31 SC123604 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC123604 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC123604 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC123604 c:OrdinaryShareClass1 2023-12-31 SC123604 c:OrdinaryShareClass2 2023-01-01 2023-12-31 SC123604 c:OrdinaryShareClass2 2023-12-31 SC123604 c:FRS102 2023-01-01 2023-12-31 SC123604 c:Audited 2023-01-01 2023-12-31 SC123604 c:FullAccounts 2023-01-01 2023-12-31 SC123604 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC123604 d:WithinOneYear 2023-12-31 SC123604 d:WithinOneYear 2022-12-31 SC123604 d:BetweenOneFiveYears 2023-12-31 SC123604 d:BetweenOneFiveYears 2022-12-31 SC123604 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC123604 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 SC123604 2 2023-01-01 2023-12-31 SC123604 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC123604










FORSTER ROOFING SERVICES LIMITED

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
FORSTER ROOFING SERVICES LIMITED
 

COMPANY INFORMATION


Directors
Mr J A G Forster 
Mrs J C Forster 
Mr N McIvor 
Mr B Raffell (resigned 1 July 2024)




Company secretary
Mrs K A Adams



Registered number
SC123604



Registered office
22 Commerce Street

Brechin

Angus

DD9 7BD




Independent auditors
Sumer Auditco Limited
Chartered Accountants & Statutory Auditors

14 City Quay

Dundee

DD1 3JA





 
FORSTER ROOFING SERVICES LIMITED
REGISTERED NUMBER: SC123604

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

Fixed assets
  

Intangible assets
 4 
6,940
-

Tangible assets
 5 
1,049,880
755,041

  
1,056,820
755,041

Current assets
  

Stocks
  
22,000
35,470

Debtors: amounts falling due within one year
 6 
1,831,663
2,154,085

Cash at bank and in hand
  
56
208

  
1,853,719
2,189,763

Creditors: amounts falling due within one year
 7 
(1,916,254)
(1,694,566)

Net current (liabilities)/assets
  
 
 
(62,535)
 
 
495,197

Total assets less current liabilities
  
994,285
1,250,238

Creditors: amounts falling due after more than one year
 8 
(380,479)
(463,159)

Provisions for liabilities
  

Deferred tax
  
(59,538)
(32,402)

  
 
 
(59,538)
 
 
(32,402)

Net assets
  
554,268
754,677


Capital and reserves
  

Called up share capital 
 9 
626,500
626,500

Share premium account
  
7,383
7,383

Capital redemption reserve
  
20,336
20,336

Profit and loss account
  
(99,951)
100,458

  
554,268
754,677


Page 1

 
FORSTER ROOFING SERVICES LIMITED
REGISTERED NUMBER: SC123604

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 August 2024.




Mr J A G Forster
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
FORSTER ROOFING SERVICES LIMITED
 

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

1.


General information

Forster Roofing Services Limited is a private company, limited by shares, domiciled in Scotland with registration number SC123604. The registered office is The registered office and principal place of business is 22 Commerce Street, Brechin, Angus, DD9 7BD. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is reliant on the continued support of the bank, the directors and the owners and at this point there is no reason to doubt that support will continue.
The company has prepared projections that demonstrate that the company can continue to operate and have sufficient resources to meet liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.
Consequently, the directors consider it is appropriate to prepare the financial statements on a going concern basis.

Page 3

 
FORSTER ROOFING SERVICES LIMITED
 

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

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided at the following rates:

Plant and machinery
-
25% - 100%
Motor vehicles
-
20%
Office equipment
-
25%
Computer equipment
-
33.33%
Tenants Improvements
-
7% - 33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
FORSTER ROOFING SERVICES LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

The business received support from the Coronavirus Business Interruption Loan Scheme, which is recognised on a monthly basis, based on lender charges incurred in the first twelve months of the loan, and covered by the Government through a Business Interruption Payment.
Additional funding was received from Innovate UK with regards to ongoing research and development work. This support continued until the project end on 30 April 2022.
 
 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.8

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
FORSTER ROOFING SERVICES LIMITED
 

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

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 60 (2022 - 65).

Page 6

 
FORSTER ROOFING SERVICES LIMITED
 

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

4.


Intangible assets




Patents

£



Cost


Additions
6,940



At 31 December 2023

6,940






Net book value



At 31 December 2023
6,940



At 31 December 2022
-



Page 7

 


 
FORSTER ROOFING SERVICES LIMITED


 

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


5.


Tangible fixed assets






Tenant's Improvements
Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
187,228
113,620
978,835
2,660
59,351
1,341,694


Additions
-
145,590
294,409
-
94,490
534,489


Disposals
-
-
(41,534)
-
-
(41,534)



At 31 December 2023

187,228
259,210
1,231,710
2,660
153,841
1,834,649



Depreciation


At 1 January 2023
153,539
15,923
389,719
88
27,384
586,653


Charge for the year on owned assets
2,798
5,518
208,822
665
20,788
238,591


Disposals
-
-
(40,475)
-
-
(40,475)



At 31 December 2023

156,337
21,441
558,066
753
48,172
784,769



Net book value



At 31 December 2023
30,891
237,769
673,644
1,907
105,669
1,049,880



At 31 December 2022
33,689
97,697
589,116
2,572
31,967
755,041



Page 8

 
FORSTER ROOFING SERVICES LIMITED
 

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

6.


Debtors

2023
2022
£
£


Trade debtors
876,050
912,550

Amounts owed by group undertakings
435,884
658,517

Amounts owed by joint ventures and associated undertakings
309,105
289,105

Other debtors
64,277
89,151

Prepayments and accrued income
39,217
34,361

Amounts recoverable on long term contracts
107,130
170,401

1,831,663
2,154,085



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
376,390
227,305

Bank loans
48,860
46,272

Trade creditors
749,879
906,152

Amounts owed to group undertakings
115,659
47,416

Other taxation and social security
58,299
65,181

Obligations under finance lease and hire purchase contracts
176,888
101,846

Other creditors
192,159
47,928

Accruals and deferred income
198,120
252,466

1,916,254
1,694,566


The bank overdrafts of £376,390 (2022 - £227,305) and bank loans of £48,860 (2022 - £46,272) are secured by Handelsbanken plc with a bond and floating charge over all the assets of the company.  There is also a cross-corporate guarantee covering all corporate members of the group to which Forster Roofing Services Limited belongs.
Net obligations under finance leases and hire purchase contracts are secured over the relevant assets.

Page 9

 
FORSTER ROOFING SERVICES LIMITED
 

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

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
93,183
142,125

Net obligations under finance leases and hire purchase contracts
287,296
321,034

380,479
463,159


Bank loans of £93,183 (2022 - £142,125) are secured by Handelsbanken plc with a bond and floating charge over all the assets of the company.  There is also a cross-corporate guarantee covering all corporate members of the group to which Forster Roofing Services Limited belongs.
Net obligations under finance leases and hire purchase contracts are secured over the relevant assets.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



76,500 Ordinary shares of £1.00 each
76,500
76,500
550,000 Preference shares of £1.00 each
550,000
550,000

626,500

626,500



10.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
40,808
41,684

Later than 1 year and not later than 5 years
82,175
125,306

122,983
166,990


11.


Government grants

2023
2022
£
£



Innovate UK Grant
5,993
85,036

5,993
85,036

Page 10

 
FORSTER ROOFING SERVICES LIMITED
 

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

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 28 August 2024 by Douglas Rae (Senior statutory auditor) on behalf of Sumer Auditco Limited.


Page 11