REGISTERED NUMBER: 05288586 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2024

for

Gap Roofing Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Sands

REGISTERED OFFICE:

Offices 1 and 2

1A King Street

Farnworth

Bolton

Greater Manchester

BL4 7AB

REGISTERED NUMBER:

05288586 (England and Wales)

ACCOUNTANTS:

Higsons Limited

Accountants

Offices 1 and 2

1A King Street

Farnworth

Bolton

Greater Manchester

BL4 7AB

FIXED ASSETS

Tangible assets

4

168,283

178,285

CURRENT ASSETS

Stocks

30,000

30,000

Debtors

5

811,113

649,000

Cash at bank

224,255

106,698

1,065,368

785,698

CREDITORS

Amounts falling due within one year

6

363,632

283,791

NET CURRENT ASSETS

701,736

501,907

TOTAL ASSETS LESS CURRENT LIABILITIES

870,019

680,192

CREDITORS

Amounts falling due after more than one year

7

90,656

109,239

NET ASSETS

779,363

570,953

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

779,362

570,952

SHAREHOLDERS' FUNDS

779,363

570,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26 November 2025 and were signed by:

P Sands - Director

1.	STATUTORY INFORMATION

Gap Roofing Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is the amount derived from ordinary activities, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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

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

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

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 7 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2023

217,567

48,533

211,246

5,660

483,006

Additions

1,800

1,728

40,727

1,166

45,421

At 30 November 2024

219,367

50,261

251,973

6,826

528,427

DEPRECIATION

At 1 December 2023

185,579

43,674

69,808

5,660

304,721

Charge for year

8,109

1,593

45,667

54

55,423

At 30 November 2024

193,688

45,267

115,475

5,714

360,144

NET BOOK VALUE

At 30 November 2024

25,679

4,994

136,498

1,112

168,283

At 30 November 2023

31,988

4,859

141,438

-

178,285

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 December 2023

155,796

Additions

1,350

At 30 November 2024

157,146

DEPRECIATION

At 1 December 2023

39,935

Charge for year

29,050

At 30 November 2024

68,985

NET BOOK VALUE

At 30 November 2024

88,161

At 30 November 2023

115,861

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Trade debtors

346,853

157,193

Other debtors

464,260

491,807

811,113

649,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Bank loans and overdrafts

5,520

5,520

Hire purchase contracts

13,028

19,316

Trade creditors

58,693

98,159

Taxation and social security

265,389

154,244

Other creditors

21,002

6,552

363,632

283,791

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.24

30.11.23

£

£

Bank loans

25,036

30,591

Hire purchase contracts

65,620

78,648

90,656

109,239

30.11.24

30.11.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,756

7,311

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.24

30.11.23

£

£

Hire purchase contracts

78,648

97,964

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24

30.11.23

£

£

P Sands

Balance outstanding at start of year

375,022

276,099

Amounts advanced

-

98,923

Amounts repaid

(33,064

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

341,958

375,022

Interest is charged at the official rate of interest on advances made to the director.