IRIS Accounts Production v24.3.2.46 03286694 Board of Directors 1.7.23 30.6.24 30.6.24 Medium entities suppliers of roofing materials. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh032866942023-06-30032866942024-06-30032866942023-07-012024-06-30032866942022-06-30032866942022-07-012023-06-30032866942023-06-3003286694ns15:EnglandWales2023-07-012024-06-3003286694ns14:PoundSterling2023-07-012024-06-3003286694ns10:Director12023-07-012024-06-3003286694ns10:Director22023-07-012024-06-3003286694ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3003286694ns10:MediumEntities2023-07-012024-06-3003286694ns10:Audited2023-07-012024-06-3003286694ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-07-012024-06-3003286694ns10:Medium-sizedCompaniesRegimeForAccounts2023-07-012024-06-3003286694ns10:FullAccounts2023-07-012024-06-3003286694ns10:OrdinaryShareClass12023-07-012024-06-3003286694ns10:Director32023-07-012024-06-3003286694ns10:Director42023-07-012024-06-3003286694ns10:Director52023-07-012024-06-3003286694ns10:Director62023-07-012024-06-3003286694ns10:CompanySecretary12023-07-012024-06-3003286694ns10:RegisteredOffice2023-07-012024-06-3003286694ns5:CurrentFinancialInstruments2024-06-3003286694ns5:CurrentFinancialInstruments2023-06-3003286694ns5:Non-currentFinancialInstruments2024-06-3003286694ns5:Non-currentFinancialInstruments2023-06-3003286694ns5:ShareCapital2024-06-3003286694ns5:ShareCapital2023-06-3003286694ns5:RetainedEarningsAccumulatedLosses2024-06-3003286694ns5:RetainedEarningsAccumulatedLosses2023-06-3003286694ns5:ShareCapital2022-06-3003286694ns5:RetainedEarningsAccumulatedLosses2022-06-3003286694ns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-3003286694ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-3003286694ns5:LandBuildingsns5:ShortLeaseholdAssets2023-07-012024-06-3003286694ns5:LeaseholdImprovements2023-07-012024-06-3003286694ns5:PlantMachinery2023-07-012024-06-3003286694ns5:FurnitureFittings2023-07-012024-06-3003286694ns5:MotorVehicles2023-07-012024-06-3003286694ns5:OwnedAssets2023-07-012024-06-3003286694ns5:OwnedAssets2022-07-012023-06-3003286694ns5:LeasedAssets2023-07-012024-06-3003286694ns5:LeasedAssets2022-07-012023-06-3003286694ns5:HirePurchaseContracts2023-07-012024-06-3003286694ns5:HirePurchaseContracts2022-07-012023-06-3003286694ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-3003286694ns5:LeaseholdImprovements2023-06-3003286694ns5:PlantMachinery2023-06-3003286694ns5:LandBuildingsns5:ShortLeaseholdAssets2024-06-3003286694ns5:LeaseholdImprovements2024-06-3003286694ns5:PlantMachinery2024-06-3003286694ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-3003286694ns5:LeaseholdImprovements2023-06-3003286694ns5:PlantMachinery2023-06-3003286694ns5:FurnitureFittings2023-06-3003286694ns5:MotorVehicles2023-06-3003286694ns5:FurnitureFittings2024-06-3003286694ns5:MotorVehicles2024-06-3003286694ns5:FurnitureFittings2023-06-3003286694ns5:MotorVehicles2023-06-3003286694ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3003286694ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3003286694ns5:LeasedAssetsHeldAsLessee2023-06-3003286694ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3003286694ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3003286694ns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3003286694ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-06-3003286694ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-06-3003286694ns5:LeasedAssetsHeldAsLessee2024-06-3003286694ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3003286694ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3003286694ns5:LeasedAssetsHeldAsLessee2023-06-3003286694ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-06-3003286694ns5:UnlistedNon-exchangeTraded2024-06-3003286694ns5:UnlistedNon-exchangeTraded2023-06-3003286694ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3003286694ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3003286694ns5:WithinOneYearns5:HirePurchaseContracts2024-06-3003286694ns5:WithinOneYearns5:HirePurchaseContracts2023-06-3003286694ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-06-3003286694ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-06-3003286694ns5:HirePurchaseContracts2024-06-3003286694ns5:HirePurchaseContracts2023-06-3003286694ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-06-3003286694ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-06-3003286694ns5:WithinOneYear2024-06-3003286694ns5:WithinOneYear2023-06-3003286694ns5:BetweenOneFiveYears2024-06-3003286694ns5:BetweenOneFiveYears2023-06-3003286694ns5:MoreThanFiveYears2024-06-3003286694ns5:MoreThanFiveYears2023-06-3003286694ns5:AllPeriods2024-06-3003286694ns5:AllPeriods2023-06-3003286694ns5:DeferredTaxation2023-06-3003286694ns5:DeferredTaxation2023-07-012024-06-3003286694ns5:DeferredTaxation2024-06-3003286694ns10:OrdinaryShareClass12024-06-30
REGISTERED NUMBER: 03286694 (England and Wales)














Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30 June 2024

for

Skyline Roofing Centres Limited

Skyline Roofing Centres Limited (Registered number: 03286694)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


Skyline Roofing Centres Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: S J Revell
C Moran
W R Revell
R J Revell
G J Homer





SECRETARY: S J Revell





REGISTERED OFFICE: Unit 73 Waterside Trade Centre
Trumpers Way
Hanwell
London
W7 2QA





REGISTERED NUMBER: 03286694 (England and Wales)





AUDITORS: Bristow Burrell
Statutory Auditors
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

Skyline Roofing Centres Limited (Registered number: 03286694)

Strategic Report
for the Year Ended 30 June 2024

In the year under review the Company continued to maintain its market position in the South East and London area.
As outlined in last years' report the levels of interest rates and inflation led to a slow down in the building sector during the year. The Directors are pleased to note in-spite of these issues the company maintained its turnover from year to year, although gross profit margins were adversely affected as inflationary pressures as well as the global supply chain problems exacerbated by the conflicts in both Ukraine and the Middle East led to a significant increase in product costs.
In the current year the Directors see that some of these pressures are easing in terms of product supply and inflation, although the new budgetary changes that will come into force next year concerning Employers National Insurance will have costs implication for the whole industry going forward.
The Directors consider they have a robust plan with the necessary resources and skills to allow the Company to meet its objectives for future growth including securing key supply chains and the controlling of its operating costs that will allow it to develop new markets and sales opportunities and to maintain and increase profit at both a gross and net level.

The Company is proud of its position as a longstanding family business with its traditions and values in being an important part of local communities and specifically in looking after the well being and interests of its staff. The company will continue to enhance this role and invest in all aspects of its business infrastructure especially in respect of staff, IT and transport.The company has instigated a significant investment in IT and new technology that will allow the company to expand and consolidate its business over the next five to ten years, alongside an ongoing renewal of its vehicle fleet This is again reflected in the Company's enhancement of its Balance Sheet position and increasing the company's net asset value at all levels.

ON BEHALF OF THE BOARD:





W R Revell - Director


12 December 2024

Skyline Roofing Centres Limited (Registered number: 03286694)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

S J Revell
C Moran
W R Revell
R J Revell

Other changes in directors holding office are as follows:

G J Homer - appointed 1 June 2024

DISCLOSURE IN THE STRATEGIC REPORT
The company has exercised the option to disclose information which usually appears in the Report of the Directors in the Strategic Report instead. This includes an assessment of the principal risks and uncertainties faced, as well as likely future developments of the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Bristow Burrell, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





W R Revell - Director


12 December 2024

Report of the Independent Auditors to the Members of
Skyline Roofing Centres Limited

Opinion
We have audited the financial statements of Skyline Roofing Centres Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Skyline Roofing Centres Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Skyline Roofing Centres Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the Merchant Roofing and Construction sector
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, the financial reporting framework FRS 102, UK taxation legislation, UK VAT rules, data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal, HMRC, Companies House, Board correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We used up to date tax and legislation checklists to confirm compliance with those laws and regulations.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- considering the internal controls and segregation of duties in place to mitigate risks of fraud and non-compliance with laws and regulations;

- using analytical procedures to identify any unusual or unexpected transactions and sampling tests to confirm material balances in the financial statements. We directed our audit procedures to those areas which we identified as particularly susceptible to misstatement due to fraud, including related parties and their transactions;

- considering the possibility of fraudulent or corrupt payments made through third parties and the risk of bribery and corruption occurring in the areas of the world where the entity does business; and

- considering the selection of appropriate accounting policies by management which do not attempt to manipulate earnings figures and the use by us of random sampling testing in our audit procedures.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias;

- investigated the rationale behind significant or unusual transactions, including related party and group transactions; and


Report of the Independent Auditors to the Members of
Skyline Roofing Centres Limited

- considered targets and remuneration that might influence management and documented and tested the entity's systems and any weaknesses in internal controls. We identified and validated any transactions that appeared to be outside the normal course of business.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- ensuring that additional audit testing and scrutiny was carried out on any transactions or areas displaying the identified risk criteria, including discussions with our own tax specialists.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




R Spicer (Senior Statutory Auditor)
for and on behalf of Bristow Burrell
Statutory Auditors
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

12 December 2024

Skyline Roofing Centres Limited (Registered number: 03286694)

Statement of Comprehensive
Income
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 37,500,209 38,046,828

Cost of sales 29,577,069 28,988,476
GROSS PROFIT 7,923,140 9,058,352

Administrative expenses 7,160,665 6,742,608
OPERATING PROFIT 5 762,475 2,315,744

Interest receivable and similar
income

21,316

8,500
783,791 2,324,244

Interest payable and similar
expenses

6

50,343

101,319
PROFIT BEFORE TAXATION 733,448 2,222,925

Tax on profit 7 190,045 532,387
PROFIT FOR THE FINANCIAL YEAR 543,403 1,690,538

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

543,403

1,690,538

Skyline Roofing Centres Limited (Registered number: 03286694)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 1,566,223 1,418,372
Investments 9 1,300 1,300
1,567,523 1,419,672

CURRENT ASSETS
Stocks 10 4,811,440 5,477,660
Debtors 11 7,453,519 7,079,142
Cash at bank and in hand 2,306,091 2,589,024
14,571,050 15,145,826
CREDITORS
Amounts falling due within one
year

12

4,755,526

6,048,450
NET CURRENT ASSETS 9,815,524 9,097,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,383,047

10,517,048

CREDITORS
Amounts falling due after more
than one year

13

(676,344

)

(402,289

)

PROVISIONS FOR LIABILITIES 17 (349,630 ) (301,089 )
NET ASSETS 10,357,073 9,813,670

CAPITAL AND RESERVES
Called up share capital 18 200 200
Retained earnings 10,356,873 9,813,470
SHAREHOLDERS' FUNDS 10,357,073 9,813,670

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





S J Revell - Director


Skyline Roofing Centres Limited (Registered number: 03286694)

Statement of Changes in Equity
for the Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 200 8,122,932 8,123,132

Changes in equity
Total comprehensive income - 1,690,538 1,690,538
Balance at 30 June 2023 200 9,813,470 9,813,670

Changes in equity
Total comprehensive income - 543,403 543,403
Balance at 30 June 2024 200 10,356,873 10,357,073

Skyline Roofing Centres Limited (Registered number: 03286694)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Skyline Roofing Centres Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group, except those reported in note 21 to these accounts.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Improvements to property - 25% on cost, 20% on cost and 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


Skyline Roofing Centres Limited (Registered number: 03286694)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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 their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the 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.

4. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
£    £   
Wages and salaries 4,093,703 3,871,250
Social security costs 389,388 366,064
Other pension costs 164,706 167,412
4,647,797 4,404,726

The average number of employees during the year was as follows:
30.6.24 30.6.23

Administration 38 38
Direct 79 77
117 115

30.6.24 30.6.23
£    £   
Directors' remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.6.24 30.6.23
£    £   
Depreciation - owned assets 195,536 244,233
Depreciation - assets on hire purchase contracts 550,330 280,868
Profit on disposal of fixed assets (9,500 ) (315 )
Auditors' remuneration 6,000 6,000

Skyline Roofing Centres Limited (Registered number: 03286694)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.24 30.6.23
£    £   
Bank loan interest 15,705 71,527
Hire purchase 34,638 29,792
50,343 101,319

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.6.24 30.6.23
£    £   
Current tax:
UK corporation tax 141,504 501,336

Deferred tax 48,541 31,051
Tax on profit 190,045 532,387

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.24 30.6.23
£    £   
Profit before tax 733,448 2,222,925
Profit multiplied by the standard rate of corporation
tax in the UK of 25% (2023 - 25%)

183,362

555,731

Effects of:
Expenses not deductible for tax purposes 27,933 1,915
Capital allowances in excess of depreciation (69,791 ) -
Depreciation in excess of capital allowances - 53,862
Deferred tax 48,541 31,051
Change in corporation tax rate - (110,172 )
Total tax charge 190,045 532,387

8. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 July 2023 31,578 239,435 920,275
Additions - - 112,750
Disposals - - -
At 30 June 2024 31,578 239,435 1,033,025
DEPRECIATION
At 1 July 2023 31,578 239,435 711,169
Charge for year - - 81,464
Eliminated on disposal - - -
At 30 June 2024 31,578 239,435 792,633
NET BOOK VALUE
At 30 June 2024 - - 240,392
At 30 June 2023 - - 209,106

Skyline Roofing Centres Limited (Registered number: 03286694)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2023 964,558 2,447,529 4,603,375
Additions 20,367 761,801 894,918
Disposals (1,201 ) (100,074 ) (101,275 )
At 30 June 2024 983,724 3,109,256 5,397,018
DEPRECIATION
At 1 July 2023 764,651 1,438,170 3,185,003
Charge for year 93,023 571,379 745,866
Eliminated on disposal - (100,074 ) (100,074 )
At 30 June 2024 857,674 1,909,475 3,830,795
NET BOOK VALUE
At 30 June 2024 126,050 1,199,781 1,566,223
At 30 June 2023 199,907 1,009,359 1,418,372

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 49,858 2,033,625 2,083,483
Additions - 525,320 525,320
Disposals - (57,834 ) (57,834 )
Transfer to ownership - (1,021,988 ) (1,021,988 )
At 30 June 2024 49,858 1,479,123 1,528,981
DEPRECIATION
At 1 July 2023 42,923 953,189 996,112
Charge for year 6,402 543,928 550,330
Eliminated on disposal - (57,834 ) (57,834 )
Transfer to ownership - (1,018,353 ) (1,018,353 )
At 30 June 2024 49,325 420,930 470,255
NET BOOK VALUE
At 30 June 2024 533 1,058,193 1,058,726
At 30 June 2023 6,935 1,080,436 1,087,371

9. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 July 2023
and 30 June 2024 1,300
NET BOOK VALUE
At 30 June 2024 1,300
At 30 June 2023 1,300

Skyline Roofing Centres Limited (Registered number: 03286694)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. STOCKS
30.6.24 30.6.23
£    £   
Stocks 4,811,440 5,477,660

Stocks are measured at the lower of cost and net realisable value, after making allowances for obsolete and slow moving items. The cost formula used is the first in, first out (FIFO) method.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 2,447,716 3,426,908
Other debtors 4,865,397 3,545,951
Prepayments 140,406 106,283
7,453,519 7,079,142

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts (see note 14)
-

500,000
Hire purchase contracts (see note 15)
279,364

270,912
Trade creditors 2,346,293 2,638,458
Tax 141,504 501,336
Social security and other taxes 88,984 87,922
VAT 568,285 582,288
Other creditors 591,608 1,233,998
Accrued expenses 739,488 233,536
4,755,526 6,048,450

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 15)
676,344

402,289

14. LOANS

An analysis of the maturity of loans is given below:

30.6.24 30.6.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 500,000

Skyline Roofing Centres Limited (Registered number: 03286694)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£    £   
Gross obligations repayable:
Within one year 332,126 293,193
Between one and five years 747,251 428,778
1,079,377 721,971

Finance charges repayable:
Within one year 52,762 22,281
Between one and five years 70,907 26,489
123,669 48,770

Net obligations repayable:
Within one year 279,364 270,912
Between one and five years 676,344 402,289
955,708 673,201

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 184,900 184,900
Between one and five years 603,100 603,100
In more than five years 347,050 531,950
1,135,050 1,319,950

16. SECURED DEBTS

The bank facility is secured by a fixed and floating charge over the assets of the company, dated 12 June 2000.

17. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 349,630 301,089

Deferred
tax
£   
Balance at 1 July 2023 301,089
Provided during year 48,541
Balance at 30 June 2024 349,630

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
200 Ordinary £1 200 200

19. CAPITAL COMMITMENTS

The company has no material capital commitments after the balance date.

Skyline Roofing Centres Limited (Registered number: 03286694)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

20. OTHER FINANCIAL COMMITMENTS

There is a Composite Company Limited Multilateral Guarantee dated 08 March 2013 given by Skyline Roofing Centres Limited, Skyline Roofing Centres Management Company Limited, Skyline Solar Limited and Skyline Roofing Group Limited.

The General Letter of Pledge is dated 08 May 2012.

21. RELATED PARTY DISCLOSURES

In the previous year the company made a loan of £3,500,000 to its parent company Skyline Roofing Group Limited for the purchase of a trading premises and is included in other debtors. There is no interest payable on the loan.

22. ULTIMATE PARENT COMPANY

The company's ultimate parent company is Skyline Roofing Group Limited, a company incorporated in England and Wales, by virtue of their 100% holding of the share capital of Skyline Roofing Centres Limited.

23. ULTIMATE CONTROLLING PARTY

Mr S J Revell controls the company by virtue of his ownership of 100% of the voting share capital of Skyline Roofing Group Limited, the parent company of Skyline Roofing Centres Limited.