Macleod Roofing Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC204501 (Scotland)

Unaudited Financial Statements for the Year Ended 31st March 2022

for

Macleod Roofing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

Director:

A MacLeod

Registered office:

37 Henderson Drive

Inverness

IV1 1TR

Registered number:

SC204501 (Scotland)

Accountants:

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

Fixed assets

Tangible assets

4

221,412

246,047

Current assets

Stocks

10,000

10,000

Debtors

5

1,011,568

835,835

Cash at bank

142,378

170,600

1,163,946

1,016,435

Creditors

Amounts falling due within one year

6

773,758

642,407

Net current assets

390,188

374,028

Total assets less current liabilities

611,600

620,075

Creditors

Amounts falling due after more than one year

7

(129,397

)

(150,946

)

Provisions for liabilities

(33,585

)

(37,243

)

Net assets

448,618

431,886

Capital and reserves

Called up share capital

100

100

Retained earnings

448,518

431,786

448,618

431,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 30th March 2023 and were signed by:

A MacLeod - Director

1.	Statutory information

Macleod Roofing 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

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.

3.	Employees and directors

The average number of employees during the year was 66 (2021 - 48 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1st April 2021

16,294

11,231

629,172

656,697

Additions

-

-

48,700

48,700

At 31st March 2022

16,294

11,231

677,872

705,397

Depreciation

At 1st April 2021

13,656

4,043

392,951

410,650

Charge for year

660

1,438

71,237

73,335

At 31st March 2022

14,316

5,481

464,188

483,985

Net book value

At 31st March 2022

1,978

5,750

213,684

221,412

At 31st March 2021

2,638

7,188

236,221

246,047

5.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

291,578

445,746

Other debtors

719,990

390,089

1,011,568

835,835

6.

Creditors: amounts falling due within one year

2022

2021

£

£

Hire purchase contracts

53,030

54,670

Trade creditors

395,409

284,125

Amounts owed to participating interests

213,254

127,868

Taxation and social security

68,473

135,404

Other creditors

43,592

40,340

773,758

642,407

7.

Creditors: amounts falling due after more than one year

2022

2021

£

£

Hire purchase contracts

129,397

150,946

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2022 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

30th March 2023