Registered number
SC130516
AMBER ROOFING LTD
Filleted Accounts
31 May 2024
AMBER ROOFING LTD
Registered number: SC130516
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 115,485 146,216
Current assets
Stocks 32,348 67,479
Debtors 4 104,510 64,739
Cash at bank and in hand 542,600 454,420
679,458 586,638
Creditors: amounts falling due within one year 5 (199,220) (164,686)
Net current assets 480,238 421,952
Total assets less current liabilities 595,723 568,168
Creditors: amounts falling due after more than one year 6 (76,120) (103,913)
Net assets 519,603 464,255
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 509,603 454,255
Shareholders' funds 519,603 464,255
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Oliver
Director
Approved by the board on 6 December 2024
AMBER ROOFING LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 16
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 20,974 195,867 216,841
Additions - 24,990 24,990
Disposals - (31,985) (31,985)
At 31 May 2024 20,974 188,872 209,846
Depreciation
At 1 June 2023 16,703 53,922 70,625
Charge for the year 855 33,745 34,600
On disposals - (10,864) (10,864)
At 31 May 2024 17,558 76,803 94,361
Net book value
At 31 May 2024 3,416 112,069 115,485
At 31 May 2023 4,271 141,945 146,216
4 Debtors 2024 2023
£ £
Trade debtors 101,947 57,496
Other debtors 2,563 7,243
104,510 64,739
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 27,386 30,000
Trade creditors 69,113 63,451
Taxation and social security costs 47,836 12,660
Other creditors 44,885 48,575
199,220 164,686
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,000 20,000
Obligations under finance lease and hire purchase contracts 66,120 83,913
76,120 103,913
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 6,400 6,400
8 Other information
AMBER ROOFING LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
Unit 37B
Thistle Industrall Estate
Church Street
Cowdenbeath
Fife
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