GMC Roofing Ltd 09999919 false 2024-03-01 2024-12-31 2024-12-31 The principal activity of the company is Construction Digita Accounts Production Advanced 6.30.9574.0 true 09999919 2024-03-01 2024-12-31 09999919 2024-12-31 09999919 bus:Director1 1 2024-12-31 09999919 bus:OrdinaryShareClass1 2024-12-31 09999919 bus:OrdinaryShareClass2 2024-12-31 09999919 core:CurrentFinancialInstruments 2024-12-31 09999919 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 09999919 core:Non-currentFinancialInstruments 2024-12-31 09999919 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 09999919 core:FurnitureFittingsToolsEquipment 2024-12-31 09999919 core:OtherPropertyPlantEquipment 2024-12-31 09999919 bus:SmallEntities 2024-03-01 2024-12-31 09999919 bus:AuditExemptWithAccountantsReport 2024-03-01 2024-12-31 09999919 bus:FilletedAccounts 2024-03-01 2024-12-31 09999919 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2024-12-31 09999919 bus:RegisteredOffice 2024-03-01 2024-12-31 09999919 bus:Director1 2024-03-01 2024-12-31 09999919 bus:Director1 1 2024-03-01 2024-12-31 09999919 bus:Director2 2024-03-01 2024-12-31 09999919 bus:OrdinaryShareClass1 2024-03-01 2024-12-31 09999919 bus:OrdinaryShareClass2 2024-03-01 2024-12-31 09999919 bus:PrivateLimitedCompanyLtd 2024-03-01 2024-12-31 09999919 core:ComputerEquipment 2024-03-01 2024-12-31 09999919 core:FurnitureFittingsToolsEquipment 2024-03-01 2024-12-31 09999919 core:OtherPropertyPlantEquipment 2024-03-01 2024-12-31 09999919 core:PlantMachinery 2024-03-01 2024-12-31 09999919 countries:AllCountries 2024-03-01 2024-12-31 09999919 2024-02-29 09999919 bus:Director1 1 2024-02-29 09999919 core:FurnitureFittingsToolsEquipment 2024-02-29 09999919 core:OtherPropertyPlantEquipment 2024-02-29 09999919 2023-03-01 2024-02-29 09999919 2024-02-29 09999919 bus:OrdinaryShareClass1 2024-02-29 09999919 bus:OrdinaryShareClass2 2024-02-29 09999919 core:CurrentFinancialInstruments 2024-02-29 09999919 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 09999919 core:Non-currentFinancialInstruments 2024-02-29 09999919 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 09999919 core:FurnitureFittingsToolsEquipment 2024-02-29 09999919 core:OtherPropertyPlantEquipment 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09999919

GMC Roofing Ltd

Unaudited Filleted Financial Statements

for the Period from 1 March 2024 to 31 December 2024

 

GMC Roofing Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

GMC Roofing Ltd

Company Information

Directors

Mr GA Mcleod

Mrs P Mcleod

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Ltd
Chartered Certified Accountants
2 Western Street
Barnsley
South Yorkshire
S70 2BP

 

GMC Roofing Ltd

(Registration number: 09999919)
Balance Sheet as at 31 December 2024

Note

2024
£

2024
£

Fixed assets

 

Tangible assets

4

17,190

13,226

Current assets

 

Stocks

5

27,886

57,425

Debtors

6

24,378

49,897

Cash at bank and in hand

 

60,351

23,293

 

112,615

130,615

Creditors: Amounts falling due within one year

7

(92,478)

(103,228)

Net current assets

 

20,137

27,387

Total assets less current liabilities

 

37,327

40,613

Creditors: Amounts falling due after more than one year

7

(24,992)

(29,708)

Provisions for liabilities

(3,016)

(2,474)

Net assets

 

9,319

8,431

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

9,119

8,231

Shareholders' funds

 

9,319

8,431

For the financial period ending 31 December 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 period 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.

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.

Approved and authorised by the Board on 17 April 2025 and signed on its behalf by:
 

 

GMC Roofing Ltd

(Registration number: 09999919)
Balance Sheet as at 31 December 2024

.........................................
Mr GA Mcleod
Director

 

GMC Roofing Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2024 to 31 December 2024

1

Accounting policies

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.

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 income 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.

 

GMC Roofing Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2024 to 31 December 2024

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

Plant & Machinery

- 25% reducing balance

Computer Equipment

- 25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

GMC Roofing Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2024 to 31 December 2024

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 8 (2024 - 9).

3

Profit before tax

Arrived at after charging/(crediting)

2024
£

2024
£

Depreciation expense

4,253

4,026

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2024

4,118

21,917

26,035

Additions

5,378

2,838

8,216

At 31 December 2024

9,496

24,755

34,251

Depreciation

At 1 March 2024

2,634

10,175

12,809

Charge for the period

1,274

2,978

4,252

At 31 December 2024

3,908

13,153

17,061

Carrying amount

At 31 December 2024

5,588

11,602

17,190

At 29 February 2024

1,484

11,742

13,226

 

GMC Roofing Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2024 to 31 December 2024

5

Stocks

2024
£

2024
£

Work in progress

-

32,539

Other inventories

27,886

24,886

27,886

57,425

6

Debtors

Current

2024
£

2024
£

Trade debtors

15,071

34,214

Prepayments

4,207

4,940

Other debtors

5,100

10,743

 

24,378

49,897

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2024
£

Due within one year

 

Bank loans and overdrafts

9

5,659

5,659

Trade creditors

 

23,547

63,102

Taxation and social security

 

30,840

28,555

Accruals and deferred income

 

22,000

-

Other creditors

 

10,432

5,912

 

92,478

103,228

Creditors: amounts falling due after more than one year

Note

2024
£

2024
£

Due after one year

 

Loans and borrowings

9

24,992

29,708

 

GMC Roofing Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2024 to 31 December 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2024

No.

£

No.

£

Ordinary of £1 each

180

180

180

180

Ordinary A of £1 each

20

20

20

20

200

200

200

200

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2024
£

Bank borrowings

24,992

29,708

Current loans and borrowings

2024
£

2024
£

Bank borrowings

5,659

5,659

10

Related party transactions

Transactions with directors

2024

At 1 March 2024
£

Repayments by director
£

At 31 December 2024
£

Mr GA Mcleod

No interest is charged on the loan and there is no fixed date of repayment

(5,643)

5,643

-