Jardine Roofing Limited SC362521 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is roofing. Digita Accounts Production Advanced 6.30.9574.0 true true SC362521 2023-09-01 2024-08-31 SC362521 2024-08-31 SC362521 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC362521 core:ShareCapital 2024-08-31 SC362521 core:CurrentFinancialInstruments 2024-08-31 SC362521 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 SC362521 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 SC362521 core:Goodwill 2024-08-31 SC362521 core:FurnitureFittingsToolsEquipment 2024-08-31 SC362521 core:LandBuildings 2024-08-31 SC362521 core:MotorVehicles 2024-08-31 SC362521 bus:SmallEntities 2023-09-01 2024-08-31 SC362521 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC362521 bus:FilletedAccounts 2023-09-01 2024-08-31 SC362521 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC362521 bus:RegisteredOffice 2023-09-01 2024-08-31 SC362521 bus:Director1 2023-09-01 2024-08-31 SC362521 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC362521 core:Goodwill 2023-09-01 2024-08-31 SC362521 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 SC362521 core:LandBuildings 2023-09-01 2024-08-31 SC362521 core:MotorVehicles 2023-09-01 2024-08-31 SC362521 core:PlantMachinery 2023-09-01 2024-08-31 SC362521 countries:Scotland 2023-09-01 2024-08-31 SC362521 2023-08-31 SC362521 core:Goodwill 2023-08-31 SC362521 core:FurnitureFittingsToolsEquipment 2023-08-31 SC362521 core:LandBuildings 2023-08-31 SC362521 core:MotorVehicles 2023-08-31 SC362521 2022-09-01 2023-08-31 SC362521 2023-08-31 SC362521 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC362521 core:ShareCapital 2023-08-31 SC362521 core:CurrentFinancialInstruments 2023-08-31 SC362521 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 SC362521 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 SC362521 core:FurnitureFittingsToolsEquipment 2023-08-31 SC362521 core:LandBuildings 2023-08-31 SC362521 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure

Company Registration number: SC362521

Jardine Roofing Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 31 August 2024

 

Jardine Roofing Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 8

 

Jardine Roofing Limited

Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

555,645

574,457

Current assets

 

Stocks

6

70,302

60,777

Debtors

7

208,495

171,280

Cash at bank and in hand

 

38,443

-

 

317,240

232,057

Creditors: Amounts falling due within one year

8

(315,532)

(241,474)

Net current assets/(liabilities)

 

1,708

(9,417)

Total assets less current liabilities

 

557,353

565,040

Creditors: Amounts falling due after more than one year

8

(223,317)

(257,141)

Provisions for liabilities

(52,320)

(55,760)

Net assets

 

281,716

252,139

Capital and reserves

 

Called up share capital

23

23

Retained earnings

281,693

252,116

Shareholders' funds

 

281,716

252,139

 

Jardine Roofing Limited

Balance Sheet as at 31 August 2024 (continued)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 30 December 2024 and signed on its behalf by:
 

.........................................
Mr I W Jardine
Director

Company registration number: SC362521

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Jardine Roofing Limited

Notes to the financial statements for the Year Ended 31 August 2024

1

GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
51 Newall Terrace
Dumfries
DG1 1LN

These financial statements were authorised for issue by the Board on 30 December 2024.

2

ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

 

Jardine Roofing Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

The current corporation 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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

No depreciation has been provided for on the freehold property as this is kept in a sound state of repair and in the opinion of the directors the residual value is so high and the useful economic life so long that the depreciation charge would be immaterial. This is not in accordance with FRS 102 however this is required in order to give a true and fair view.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Jardine Roofing Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

10% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

 

Jardine Roofing Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 28).

 

Jardine Roofing Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

4

INTANGIBLE ASSETS

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

91,199

91,199

At 31 August 2024

91,199

91,199

Amortisation

At 1 September 2023

91,199

91,199

At 31 August 2024

91,199

91,199

Carrying amount

At 31 August 2024

-

-

5

TANGIBLE ASSETS

Land and buildings
£

Equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

267,395

435,099

217,517

920,011

Additions

-

-

22,448

22,448

At 31 August 2024

267,395

435,099

239,965

942,459

Depreciation

At 1 September 2023

-

182,809

162,745

345,554

Charge for the year

-

25,229

16,031

41,260

At 31 August 2024

-

208,038

178,776

386,814

Carrying amount

At 31 August 2024

267,395

227,061

61,189

555,645

At 31 August 2023

267,395

252,290

54,772

574,457

 

Jardine Roofing Limited

Notes to the financial statements for the Year Ended 31 August 2024 (continued)

6

STOCKS

2024
£

2023
£

Stock and work in progress

70,302

60,777

7

DEBTORS

Current

2024
£

2023
£

Trade debtors

84,472

34,506

Other debtors

124,023

136,774

 

208,495

171,280

8

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Loans and borrowings

44,398

42,364

Trade creditors

 

100,021

90,457

Taxation and social security

 

79,724

80,678

Accruals and deferred income

 

4,500

3,750

Other creditors

 

86,889

24,225

 

315,532

241,474


Creditors include bank loans and overdrafts £44,398 (2023 - £42,364) and net obligations under finance lease and hire purchase contracts of £8,014 (2023 - £11,292) which are secured.

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

223,317

257,141


Creditors include bank loans and overdrafts £194,313 (2023 - £238,710) and net obligations under finance lease and hire purchase contracts of £29,004 (2023 - £18,431) which are secured.