Company registration number SC289133 (Scotland)
MIDLOTHIAN ROOFING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MIDLOTHIAN ROOFING SERVICES LIMITED
COMPANY INFORMATION
Director
Mr S D Hill
Company number
SC289133
Registered office
2 Langsidehead Cottages
Dalkeith
Edinburgh
United Kingdom
EH22 2NR
Accountants
Azets
3 Wellington Square
Ayr
Ayrshire
United Kingdom
KA7 1EN
MIDLOTHIAN ROOFING SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
MIDLOTHIAN ROOFING SERVICES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
93,003
55,368
Current assets
Stocks
11,365
11,512
Debtors
4
582,994
559,933
Cash at bank and in hand
214,710
269,823
809,069
841,268
Creditors: amounts falling due within one year
5
(101,441)
(147,915)
Net current assets
707,628
693,353
Total assets less current liabilities
800,631
748,721
Provisions for liabilities
(23,251)
(13,842)
Net assets
777,380
734,879
Capital and reserves
Called up share capital
7
301
601
Capital redemption reserve
900
600
Profit and loss reserves
8
776,179
733,678
Total equity
777,380
734,879

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MIDLOTHIAN ROOFING SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 May 2025 and are signed on its behalf by:
Mr S D Hill
Director
Company Registration No. SC289133
MIDLOTHIAN ROOFING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Midlothian Roofing Services Limited is a private company limited by shares incorporated in Scotland. The registered office is 2 Langsidehead Cottages, Dalkeith, Edinburgh, United Kingdom, EH22 2NR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover consists of the sale value, excluding VAT, of work in the period under contracts to supply services to third parties. It includes the relevant proportion of contract value for performance up to the period end.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on reducing balance
Fixtures and fittings
20% on reducing balance
1.4
Stocks

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

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MIDLOTHIAN ROOFING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
10
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 October 2023
161,363
4,411
165,774
Additions
54,725
408
55,133
Disposals
(60,057)
(1,913)
(61,970)
At 30 September 2024
156,031
2,906
158,937
Depreciation and impairment
At 1 October 2023
106,623
3,783
110,406
Depreciation charged in the year
17,339
159
17,498
Eliminated in respect of disposals
(60,057)
(1,913)
(61,970)
At 30 September 2024
63,905
2,029
65,934
Carrying amount
At 30 September 2024
92,126
877
93,003
At 30 September 2023
54,740
628
55,368
MIDLOTHIAN ROOFING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
68,579
79,097
Other debtors
492,351
458,440
Prepayments and accrued income
22,064
22,396
582,994
559,933
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
28,815
43,231
Corporation tax
33,015
56,721
Other taxation and social security
30,919
40,860
Other creditors
8,692
7,103
101,441
147,915
6
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
23,251
13,842
2024
Movements in the year:
£
Liability at 1 October 2023
13,842
Charge to profit or loss
9,409
Liability at 30 September 2024
23,251
MIDLOTHIAN ROOFING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
150 A Ordinary of £1 each
-
0
150
300 B Ordinary of £1 each
300
300
150 C Ordinary of £1 each
-
0
150
1 D Ordinary of £1 each
1
1
301
601
8
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
733,678
608,078
Profit for the year
127,501
213,600
Dividends declared and paid in the year
(30,000)
(88,000)
Share redemption or reduction
(55,000)
-
0
At the end of the year
776,179
733,678
MIDLOTHIAN ROOFING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
9
Related party transactions
Other information

MRS Property Limited

At the balance sheet date, £442,181 (2023: £442,181) was owed to the company from MRS Property Limited, a company under common control of director S Hill.

 

 

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