Roofteq Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC361510 (Scotland)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

Roofteq Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M Hunter

Mrs L A Hunter

SECRETARY:

Mrs L A Hunter

REGISTERED OFFICE:

20 South Park Road

Hamilton

Lanarkshire

ML3 6PH

REGISTERED NUMBER:

SC361510 (Scotland)

ACCOUNTANTS:

Andersons

53 Wellhall Road

Hamilton

Lanarkshire

ML3 9BY

FIXED ASSETS

Intangible assets

4

900

2,700

Tangible assets

5

12,371

16,081

13,271

18,781

CURRENT ASSETS

Debtors

6

6,841

16,634

Cash at bank

8,904

13,729

15,745

30,363

CREDITORS

Amounts falling due within one year

7

23,086

27,518

NET CURRENT (LIABILITIES)/ASSETS

(7,341

)

2,845

TOTAL ASSETS LESS CURRENT LIABILITIES

5,930

21,626

CREDITORS

Amounts falling due after more than one year

8

4,562

8,212

NET ASSETS

1,368

13,414

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,268

13,314

SHAREHOLDERS' FUNDS

1,368

13,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 8 July 2021 and were signed on its behalf by:

M Hunter - Director

1.	STATUTORY INFORMATION

Roofteq Limited is a private company, limited by shares , registered in Scotland. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

33% on cost and 25% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2020

and 31 May 2021

18,000

AMORTISATION

At 1 June 2020

15,300

Charge for year

1,800

At 31 May 2021

17,100

NET BOOK VALUE

At 31 May 2021

900

At 31 May 2020

2,700

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2020

and 31 May 2021

37,495

DEPRECIATION

At 1 June 2020

21,414

Charge for year

3,710

At 31 May 2021

25,124

NET BOOK VALUE

At 31 May 2021

12,371

At 31 May 2020

16,081

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

Plant and

machinery

etc

£

COST

At 1 June 2020

and 31 May 2021

36,912

DEPRECIATION

At 1 June 2020

20,831

Charge for year

3,710

At 31 May 2021

24,541

NET BOOK VALUE

At 31 May 2021

12,371

At 31 May 2020

16,081

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade debtors

4,113

16,634

Other debtors

2,728

-

6,841

16,634

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Hire purchase contracts

3,650

3,650

Trade creditors

15,008

6,628

Taxation and social security

3,991

7,259

Other creditors

437

9,981

23,086

27,518

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Hire purchase contracts

4,562

8,212

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M Hunter.