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REGISTERED NUMBER: SC305039 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

J C BUCHANAN ROOFING LIMITED

J C BUCHANAN ROOFING LIMITED (REGISTERED NUMBER: SC305039)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J C BUCHANAN ROOFING LIMITED

COMPANY INFORMATION
For The Year Ended 31 July 2024







DIRECTORS: J Buchanan
Mrs D Buchanan





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC305039 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

J C BUCHANAN ROOFING LIMITED (REGISTERED NUMBER: SC305039)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 33,741 52,491
33,741 52,491

CURRENT ASSETS
Stocks 23,969 12,308
Debtors 6 520 1,199
Cash at bank 197,243 209,146
221,732 222,653
CREDITORS
Amounts falling due within one year 7 123,972 126,178
NET CURRENT ASSETS 97,760 96,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,501

148,966

PROVISIONS FOR LIABILITIES 8,435 13,123
NET ASSETS 123,066 135,843

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 123,064 135,841
SHAREHOLDERS' FUNDS 123,066 135,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

J C BUCHANAN ROOFING LIMITED (REGISTERED NUMBER: SC305039)

BALANCE SHEET - continued
31 July 2024


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 19 November 2024 and were signed on its behalf by:





J Buchanan - Director


J C BUCHANAN ROOFING LIMITED (REGISTERED NUMBER: SC305039)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 July 2024

1. STATUTORY INFORMATION

J C Buchanan Roofing Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

J C BUCHANAN ROOFING LIMITED (REGISTERED NUMBER: SC305039)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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.

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 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 58,000
AMORTISATION
At 1 August 2023
and 31 July 2024 58,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 August 2023 2,230 14,190 87,326 103,746
Disposals - - (18,700 ) (18,700 )
At 31 July 2024 2,230 14,190 68,626 85,046
DEPRECIATION
At 1 August 2023 2,230 8,393 40,632 51,255
Charge for year - 1,159 6,999 8,158
Eliminated on disposal - - (8,108 ) (8,108 )
At 31 July 2024 2,230 9,552 39,523 51,305
NET BOOK VALUE
At 31 July 2024 - 4,638 29,103 33,741
At 31 July 2023 - 5,797 46,694 52,491

J C BUCHANAN ROOFING LIMITED (REGISTERED NUMBER: SC305039)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 612
Other debtors 520 587
520 1,199

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,421 2,101
Taxation and social security 42,860 47,602
Other creditors 72,691 76,475
123,972 126,178