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Company Registration number: 05456163

McCluskey Roofing Ltd

Annual Report and Unaudited
Financial Statements


for the Year Ended 30 June 2024

 

McCluskey Roofing Ltd

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 9

 

McCluskey Roofing Ltd

Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

22,417

21,397

Other financial assets

6

612,545

680,598

 

634,962

701,995

Current assets

 

Stocks

7

160

180

Debtors

8

46,641

41,629

Cash at bank and in hand

 

254,782

298,451

 

301,583

340,260

Creditors: Amounts falling due within one year

9

(117,294)

(159,491)

Net current assets

 

184,289

180,769

Total assets less current liabilities

 

819,251

882,764

Provisions for liabilities

(2,526)

(2,057)

Net assets

 

816,725

880,707

Capital and reserves

 

Called up share capital

100

100

Retained earnings

816,625

880,607

Shareholders' funds

 

816,725

880,707

 

McCluskey Roofing Ltd

Balance Sheet as at 30 June 2024 (continued)

For the financial year ending 30 June 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 and 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.

Company registration number: 05456163

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

.........................................
Mr C McCluskey
Director

 

McCluskey Roofing Ltd

Notes to the financial statements for the Year Ended 30 June 2024

1

GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Dalmar House
Barras Lane Estate
Dalston
Carlisle
CA5 7NY

These financial statements were authorised for issue by the Board on 20 March 2025.

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 £.

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.

 

McCluskey Roofing Ltd

Notes to the financial statements for the Year Ended 30 June 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in 'other income' within profit or loss in the same period as the related expenditure. This includes the Government Coronavirus Job Retention Scheme (Furlough).

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 balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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:

Asset class

Depreciation method and rate

Property improvements

2% Straight line

Tools and equipment

15% Reducing balance

Motor vehicles

25% Reducing balance

Office equipment

25% Straight line

 

McCluskey Roofing Ltd

Notes to the financial statements for the Year Ended 30 June 2024 (continued)

2

ACCOUNTING POLICIES (continued)

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

Investments

Listed investments are measured at fair value with changes in fair value being recognised in profit and loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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.

 

McCluskey Roofing Ltd

Notes to the financial statements for the Year Ended 30 June 2024 (continued)

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

INTANGIBLE ASSETS

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

28,400

28,400

At 30 June 2024

28,400

28,400

Amortisation

At 1 July 2023

28,400

28,400

At 30 June 2024

28,400

28,400

Carrying amount

At 30 June 2024

-

-

 

McCluskey Roofing Ltd

Notes to the financial statements for the Year Ended 30 June 2024 (continued)

5

TANGIBLE ASSETS

Land and buildings
£

Office equipment
 £

Motor vehicles
 £

Tools and equipment
£

Total
£

Cost or valuation

At 1 July 2023

11,862

1,845

23,130

37,691

74,528

Additions

-

1,324

-

4,058

5,382

Disposals

-

(1,845)

-

-

(1,845)

At 30 June 2024

11,862

1,324

23,130

41,749

78,065

Depreciation

At 1 July 2023

2,936

175

21,711

28,310

53,132

Charge for the year

237

235

355

1,864

2,691

Eliminated on disposal

-

(175)

-

-

(175)

At 30 June 2024

3,173

235

22,066

30,174

55,648

Carrying amount

At 30 June 2024

8,689

1,089

1,064

11,575

22,417

At 30 June 2023

8,926

1,670

1,420

9,381

21,397

 

McCluskey Roofing Ltd

Notes to the financial statements for the Year Ended 30 June 2024 (continued)

6

OTHER FINANCIAL ASSETS (current and non-current)

Investments
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

680,598

680,598

Fair value adjustments

45,353

45,353

Additions

19,397

19,397

Disposals

(132,803)

(132,803)

At 30 June 2024

612,545

612,545

Carrying amount

At 30 June 2024

612,545

612,545

7

STOCKS

2024
£

2023
£

Stocks

160

180

8

DEBTORS

Current

2024
£

2023
£

Trade debtors

19,461

39,669

Prepayments

1,183

1,960

Other debtors

25,997

-

 

46,641

41,629

 

McCluskey Roofing Ltd

Notes to the financial statements for the Year Ended 30 June 2024 (continued)

9

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

362

10,707

Taxation and social security

-

33,401

Accruals and deferred income

2,600

2,500

Other creditors

114,332

112,883

117,294

159,491