REGISTERED NUMBER: SC413418 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Ray Sutherland Roofing Contractors Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

97,412

64,559

Investments

6

1

1

97,413

64,560

CURRENT ASSETS

Stocks

5,000

14,342

Debtors

7

44,026

78,454

Cash at bank and in hand

7,993

6,751

57,019

99,547

CREDITORS

Amounts falling due within one year

8

105,244

103,339

NET CURRENT LIABILITIES

(48,225

)

(3,792

)

TOTAL ASSETS LESS CURRENT LIABILITIES

49,188

60,768

CREDITORS

Amounts falling due after more than one year

9

(18,662

)

(40,549

)

PROVISIONS FOR LIABILITIES

(18,508

)

(12,266

)

NET ASSETS

12,018

7,953

CAPITAL AND RESERVES

Called up share capital

30

30

Retained earnings

11,988

7,923

12,018

7,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

D Sutherland - Director

1.	STATUTORY INFORMATION

Ray Sutherland Roofing Contractors Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number:

SC413418

Registered office:

Ray Sutherland Yard

Galafoot Road

Galashiels

Borders

TD1 3HH

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Going concern

Particularly in respect of the Coronavirus pandemic, the directors have considered carefully a period of 12 months from the date of approval of the financial statements. The company took out a Government backed loan to maintain cashflow which they see no issue in being able to repay. The company has traded profitably since the year end and the directors consider that there are no matters that cause significant doubt about the ability of the company to continue as a going concern. The directors therefore believe that the going concern basis is appropriate in preparing these financial statements.

Turnover

Turnover represents the value of goods and services invoices excluding Value Added Tax, recognised when services have been provided rather than invoiced.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of six years.

Tangible fixed assets

Tangible assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Improvements to property - 20% reducing balance

Plant and machinery - 25% reducing balance

Fixtures and fittings - 20% on cost

Motor vehicles - 25% on cost

Computer equipment - 20% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value. Cost includes all handling costs in bringing the stock to site with goods valued on a first in first out basis.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes contractually party to the provisions of the instrument.

Basic financial assets including debtors, cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial assets receivable within one month are not amortised.

Basic financial liabilities including creditors and loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Bank overdrafts are shown within current liabilities.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 the estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

30,000

AMORTISATION

At 1 January 2024

and 31 December 2024

30,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

146,196

Additions

70,015

Disposals

(10,100

)

At 31 December 2024

206,111

DEPRECIATION

At 1 January 2024

81,637

Charge for year

37,162

Eliminated on disposal

(10,100

)

At 31 December 2024

108,699

NET BOOK VALUE

At 31 December 2024

97,412

At 31 December 2023

64,559

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

38,030

77,761

Other debtors

5,996

693

44,026

78,454

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts (see note 10)

11,887

12,124

Trade creditors

20,742

40,622

Taxation and social security

43,924

32,563

Other creditors

18,691

8,030

105,244

103,339

Government backed Bounce Back loan repayments amounting to £10,000 plus interest are due within one year.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,167

14,167

Hire purchase contracts (see note 10)

14,495

26,382

18,662

40,549

Government backed Bounce Back loan repayments amounting to £4,167 plus interest are due between one and five years.

10.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

11,887

12,124

Between one and five years

14,495

26,382

26,382

38,506

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

26,382

38,506

12.	RELATED PARTY DISCLOSURES

During the year the company purchased services to the value of £46,065 from D9 Scaffolding Ltd, a company in which both directors are shareholders. The transactions took place at market value. At the year end the company was not due any monies to or from D9 Scaffolding Ltd.