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REGISTERED NUMBER: SC089853 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

ROOF EDGE PROTECTION LIMITED

ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Statement of Income and Retained Earnings 2

Balance Sheet 3

Notes to the Financial Statements 5

Chartered Accountants' Report 11

ROOF EDGE PROTECTION LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTORS: J Weaver Jnr
D Weaver





SECRETARY: J Weaver Jnr





REGISTERED OFFICE: Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL





REGISTERED NUMBER: SC089853 (Scotland)





ACCOUNTANTS: McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL

ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)

Statement of Income and Retained Earnings
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   

TURNOVER 802,255 575,223

Cost of sales 469,218 307,334
GROSS PROFIT 333,037 267,889

Distribution costs 500 -
Administrative expenses 229,741 213,804
230,241 213,804
102,796 54,085

Other operating income 4,860 4,185
OPERATING PROFIT 4 107,656 58,270

Interest receivable and similar income 1,608 289
109,264 58,559

Interest payable and similar expenses 579 1,969
PROFIT BEFORE TAXATION 108,685 56,590

Tax on profit 5 25,493 12,716
PROFIT FOR THE FINANCIAL YEAR 83,192 43,874

Retained earnings at beginning of year 221,714 189,840

Dividends 6 (15,000 ) (12,000 )

RETAINED EARNINGS AT END OF
YEAR

289,906

221,714

ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 192,117 185,169

CURRENT ASSETS
Stocks 800 425
Debtors 8 181,441 106,803
Cash at bank and in hand 110,351 88,949
292,592 196,177
CREDITORS
Amounts falling due within one year 9 102,586 59,173
NET CURRENT ASSETS 190,006 137,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

382,123

322,173

CREDITORS
Amounts falling due after more than one
year

10

(7,500

)

(17,500

)

PROVISIONS FOR LIABILITIES 12 (26,717 ) (24,959 )
NET ASSETS 347,906 279,714

CAPITAL AND RESERVES
Called up share capital 13 10,000 10,000
Revaluation reserve 14 48,000 48,000
Retained earnings 289,906 221,714
SHAREHOLDERS' FUNDS 347,906 279,714

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

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

ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)

Balance Sheet - continued
31 August 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2024 and were signed on its behalf by:





J Weaver Jnr - Director


ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Roof Edge Protection 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.

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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates or judgements used in the preparation of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discount and value added taxes. Turnover includes revenue earned from the sale of roof safety equipment and services.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any 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.

Depreciation is charged to profit and loss over the estimated useful economic lives, as follows:

Computer equipment - 25% on reducing balance.
Plant and Machinery - 20% reducing balance
Motor vehicles - 25% reducing balance

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.

At each reporting date the company assesses whether there is any indication of impairment. if such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use.

Any impairment loss is recognised immediately as an expense within profit and loss.

Buildings are not depreciated. This is because, in the opinion of the directors, the company's policy of regular repairs and maintenance ensures that the value of the buildings will not depreciate.

ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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

Financial instruments
Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

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

ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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.

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. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year amounted to £15,099 (2023: £16,222) and are charged in the profit and loss account. There are no accrued or prepaid amounts at the year end.

Revaluation of buildings
The buildings held under long leasehold by the company have been included at their fair value based on an existing use basis. The valuation has been determined by the directors.

Provisions
A provision is recognised when the company has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 11 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.8.24 31.8.23
£    £   
Depreciation - owned assets 26,797 25,068

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.8.24 31.8.23
£    £   
Current tax:
UK corporation tax 23,735 7,308

Deferred tax 1,758 5,408
Tax on profit 25,493 12,716

ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DIVIDENDS
31.8.24 31.8.23
£    £   
Ordinary shares of £1 each
Final proposed and payable 15,000 12,000

7. TANGIBLE FIXED ASSETS
Long Plant and Computer
leasehold machinery equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 September 2023 85,000 186,943 832 272,775
Additions - 33,745 - 33,745
At 31 August 2024 85,000 220,688 832 306,520
DEPRECIATION
At 1 September 2023 - 87,079 527 87,606
Charge for year - 26,721 76 26,797
At 31 August 2024 - 113,800 603 114,403
NET BOOK VALUE
At 31 August 2024 85,000 106,888 229 192,117
At 31 August 2023 85,000 99,864 305 185,169

Cost or valuation at 31 August 2024 is represented by:

Long Plant and Computer
leasehold machinery equipment Totals
£    £    £    £   
Valuation in 1999 48,000 - - 48,000
Cost 37,000 220,688 832 258,520
85,000 220,688 832 306,520

If Buildings had not been revalued they would have been included at the following historical cost:

31.8.24 31.8.23
£    £   
Cost 37,000 37,000

The buildings were valued on a fair value basis basis on 31 August 2023 by the Directors .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 148,893 91,951
VAT 24,457 5,722
Prepayments 8,091 9,130
181,441 106,803

ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 33,620 18,222
Tax 23,735 7,308
Social security and other taxes 7,302 5,863
Other creditors 15,391 6,000
Directors' current accounts 7,620 6,000
Accrued expenses 4,918 5,780
102,586 59,173

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 7,500 10,000
Bank loans - 2-5 years - 7,500
7,500 17,500

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 6,000 6,000
Between one and five years 24,000 24,000
In more than five years 312,000 318,000
342,000 348,000

The operating lease relates to the lease of the ground at 107 Dalsetter Avenue from Glasgow City Council at an annual rent of £6,000. The remaining term of the lease is 57 years.

12. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 26,717 24,959

Deferred
tax
£   
Balance at 1 September 2023 24,959
Provided during year 1,758
Balance at 31 August 2024 26,717

The movement in deferred tax provision is as a result of the origination and reversal of timing differences between accounting and tax treatment of assets which result in the obligation to pay more tax at a future date.

ROOF EDGE PROTECTION LIMITED (REGISTERED NUMBER: SC089853)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
10,000 Ordinary £1 10,000 10,000

14. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 48,000

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
D Weaver
Balance outstanding at start of year (2,880 ) (2,400 )
Amounts advanced 2,880 2,400
Amounts repaid (3,600 ) (2,880 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,600 ) (2,880 )

J Weaver Jnr
Balance outstanding at start of year (3,120 ) (6,600 )
Amounts advanced 3,000 6,600
Amounts repaid (3,900 ) (3,120 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,020 ) (3,120 )

16. RELATED PARTY DISCLOSURES

Total directors remuneration for the year including pensions and social security costs were £71,716 (2023: £76,429). Dividends of £7,500 (2023: £6,000) were paid to the directors during the year.

17. ULTIMATE CONTROLLING PARTY

Mr J Weaver Jnr is considered to be the ultimate controlling party.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Roof Edge Protection Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Roof Edge Protection Limited for the year ended 31 August 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Roof Edge Protection Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Roof Edge Protection Limited and state those matters that we have agreed to state to the Board of Directors of Roof Edge Protection Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Roof Edge Protection Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Roof Edge Protection Limited. You consider that Roof Edge Protection Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Roof Edge Protection Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL


9 December 2024