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FC ROOFING AND CLADDING LTD

Registered Number
SC617270
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2024

FC ROOFING AND CLADDING LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

MEEHAN, Emma
MEEHAN, Stephen

Company Secretary

MEEHAN, Emma

Registered Address

Mckellar Accountancy Unit 3-2
1 Macdowall Street
Paisley
PA3 2NB

Registered Number

SC617270 (Scotland)
FC ROOFING AND CLADDING LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3169,71381,958
169,71381,958
Current assets
Stocks425,00010,000
Debtors779,564987,148
Cash at bank and on hand558,755133,083
1,363,3191,130,231
Creditors amounts falling due within one year5(1,241,089)(939,392)
Net current assets (liabilities)122,230190,839
Total assets less current liabilities291,943272,797
Creditors amounts falling due after one year6(67,548)(87,401)
Provisions for liabilities8(32,943)(12,095)
Net assets191,452173,301
Capital and reserves
Called up share capital100100
Profit and loss account191,352173,201
Shareholders' funds191,452173,301
The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2024, and are signed on its behalf by:
MEEHAN, Stephen
Director
Registered Company No. SC617270
FC ROOFING AND CLADDING LTD
Notes to the Financial Statements
for the year ended 31 January 2024

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings25
Plant and machinery25
Fixtures and fittings25
Office Equipment25
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
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year84
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 February 23-95,595-8,383103,978
Additions5,00034,42152,24211,544103,207
At 31 January 245,000130,01652,24219,927207,185
Depreciation and impairment
At 01 February 23-19,565-2,45522,020
Charge for year10412,8871,2491,21215,452
At 31 January 2410432,4521,2493,66737,472
Net book value
At 31 January 244,89697,56450,99316,260169,713
At 31 January 23-76,030-5,92881,958
4.Stocks

2024

2023

££
Other stocks25,00010,000
Total25,00010,000
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,120,527743,635
Bank borrowings and overdrafts13,1558,519
Taxation and social security88,105127,989
Finance lease and HP contracts19,16912,108
Other creditors13347,141
Total1,241,089939,392
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts25,02418,647
Other creditors42,52468,754
Total67,54887,401
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts42,52468,754
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)32,94312,095
Total32,94312,095