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REGISTERED NUMBER: 10856780 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 July 2024

for

MSC Roofing Limited

MSC Roofing Limited (Registered number: 10856780)






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


MSC Roofing Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: M S Cole





REGISTERED OFFICE: Swift House, Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU





REGISTERED NUMBER: 10856780 (England and Wales)





ACCOUNTANTS: LB Group Advisory Limited
Swift House, Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU

MSC Roofing Limited (Registered number: 10856780)

Balance Sheet
31 July 2024

31.7.23 31.7.24
£    £    Notes £    £   
FIXED ASSETS
7,999 Tangible assets 4 6,061

CURRENT ASSETS
28,329 Debtors 5 15,794
7,965 Cash at bank 8,631
36,294 24,425
CREDITORS
25,662 Amounts falling due within one year 6 25,789
10,632 NET CURRENT (LIABILITIES)/ASSETS (1,364 )
18,631 TOTAL ASSETS LESS CURRENT
LIABILITIES

4,697

CREDITORS
(19,288 ) Amounts falling due after more than one
year

7

(9,956

)

(1,376 ) PROVISIONS FOR LIABILITIES (1,152 )
(2,033 ) NET LIABILITIES (6,411 )

CAPITAL AND RESERVES
2 Called up share capital 8 4
(2,035 ) Retained earnings (6,415 )
(2,033 ) SHAREHOLDERS' FUNDS (6,411 )

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 director acknowledges his 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.

MSC Roofing Limited (Registered number: 10856780)

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 director and authorised for issue on 3 January 2025 and were signed by:





M S Cole - Director


MSC Roofing Limited (Registered number: 10856780)

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

1. STATUTORY INFORMATION

MSC Roofing 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.

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.

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.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and 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 in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

MSC Roofing Limited (Registered number: 10856780)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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

At the balance sheet date the company was insolvent. The director has considered the company's position and anticipate that it will be able to meet current and future liabilities as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023
and 31 July 2024 19,873
DEPRECIATION
At 1 August 2023 11,874
Charge for year 1,938
At 31 July 2024 13,812
NET BOOK VALUE
At 31 July 2024 6,061
At 31 July 2023 7,999

MSC Roofing Limited (Registered number: 10856780)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023
and 31 July 2024 10,000
DEPRECIATION
At 1 August 2023 4,375
Charge for year 1,406
At 31 July 2024 5,781
NET BOOK VALUE
At 31 July 2024 4,219
At 31 July 2023 5,625

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 13,083 18,960
Other debtors 2,711 9,369
15,794 28,329

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 7,385 7,384
Hire purchase contracts 1,998 1,998
Trade creditors 9,672 7,806
Taxation and social security 4,774 6,885
Other creditors 1,960 1,589
25,789 25,662

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 6,616 13,950
Hire purchase contracts 3,340 5,338
9,956 19,288

MSC Roofing Limited (Registered number: 10856780)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
2 Ordinary £1 2 2
1 Ordinary A £1 1 -
1 Ordinary B £1 1 -
4 2

The following shares were allotted and fully paid for cash at par during the year:

1 Ordinary A shares of £1 each
1 Ordinary B shares of £1 each