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REGISTERED NUMBER: SC532359 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Deeside Roofing Limited

Deeside Roofing Limited (Registered number: SC532359)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Deeside Roofing Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr S Wheeler





REGISTERED OFFICE: 19 Morven View
Tarland
Aboyne
Aberdeenshire
AB34 4UH





REGISTERED NUMBER: SC532359 (Scotland)





ACCOUNTANTS: The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR

Deeside Roofing Limited (Registered number: SC532359)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 35,205 49,831

CURRENT ASSETS
Stocks 49,541 65,520
Debtors 6 139,456 95,365
Cash at bank 66,008 -
255,005 160,885
CREDITORS
Amounts falling due within one year 7 193,573 120,968
NET CURRENT ASSETS 61,432 39,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,637

89,748

CREDITORS
Amounts falling due after more than one
year

8

(54,278

)

(80,180

)

PROVISIONS FOR LIABILITIES (8,801 ) (9,468 )
NET ASSETS 33,558 100

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 33,458 -
SHAREHOLDERS' FUNDS 33,558 100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Deeside Roofing Limited (Registered number: SC532359)

Statement of Financial Position - continued
30 April 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 29 January 2025 and were signed by:





Mr S Wheeler - Director


Deeside Roofing Limited (Registered number: SC532359)

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

1. STATUTORY INFORMATION

Deeside 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.

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" including the provisions of Section 1A "Small Entities" 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.

Revenue recognition
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when the service has been provided, when the amount of revenue can be measured reliably and when its probable that future economic benefits will flow to the entity.

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 reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

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

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.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

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 in profit and loss.


Deeside Roofing Limited (Registered number: SC532359)

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

3. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

Deeside Roofing Limited (Registered number: SC532359)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 84,071
Additions 5,208
Disposals (15,583 )
At 30 April 2024 73,696
DEPRECIATION
At 1 May 2023 34,240
Charge for year 7,783
Eliminated on disposal (3,532 )
At 30 April 2024 38,491
NET BOOK VALUE
At 30 April 2024 35,205
At 30 April 2023 49,831

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

Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 21,200
DEPRECIATION
At 1 May 2023 6,219
Charge for year 2,996
At 30 April 2024 9,215
NET BOOK VALUE
At 30 April 2024 11,985
At 30 April 2023 14,981

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 110,973 48,322
Other debtors 28,483 47,043
139,456 95,365

Deeside Roofing Limited (Registered number: SC532359)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,043 43,845
Hire purchase contracts (see note 9) 2,726 2,726
Trade creditors 92,601 36,406
Taxation and social security 70,469 33,985
Other creditors 5,734 4,006
193,573 120,968

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 50,189 73,365
Hire purchase contracts (see note 9) 4,089 6,815
54,278 80,180

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,726 2,726
Between one and five years 4,089 6,815
6,815 9,541

Non-cancellable operating leases
2024 2023
£    £   
Within one year 15,270 15,494
Between one and five years 3,724 5,009
18,994 20,503

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Funding Circle 25,566 32,742

The director, Mr S Wheeler, has provided a personal guarantee for the loan provided by Funding Circle.

Deeside Roofing Limited (Registered number: SC532359)

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

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr S Wheeler
Balance outstanding at start of year 31,002 45,766
Amounts advanced - 56,722
Amounts repaid (31,002 ) (71,486 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 31,002

12. GUARANTEED LOANS

The lender of the Coronavirus Bounce Back Loan has a full (100%) government-backed guarantee against both the capital and the interest, although Deeside Roofing Ltd remains fully liable for the debt.