ARK Building and Roofing Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC451372 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ARK BUILDING AND ROOFING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C Cochrane

REGISTERED OFFICE:

61 Redpath Drive

Cambuslang

Glasgow

Lanarkshire

G72 7UA

REGISTERED NUMBER:

SC451372 (Scotland)

ACCOUNTANT:

John Murphy & Company (Scotland) Limited

Chartered Accountants

Castle Chambers

67 Main Street

Bothwell

Lanarkshire

G71 8ER

FIXED ASSETS

Tangible assets

4

19,547

29,085

CURRENT ASSETS

Stocks

5

-

5,450

Debtors

6

416

-

Cash at bank

-

1,933

416

7,383

CREDITORS

Amounts falling due within one year

7

(5,280

)

5,345

NET CURRENT ASSETS

5,696

2,038

TOTAL ASSETS LESS CURRENT LIABILITIES

25,243

31,123

CREDITORS

Amounts falling due after more than one year

8

(13,945

)

(13,945

)

PROVISIONS FOR LIABILITIES

9

(3,714

)

(5,526

)

NET ASSETS

7,584

11,652

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7,484

11,552

SHAREHOLDERS' FUNDS

7,584

11,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 21 April 2023 and were signed by:

C Cochrane - Director

1.	STATUTORY INFORMATION

ARK Building and 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 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 cost

Motor vehicles

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

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 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

and 31 March 2023

16,838

269

39,157

1,623

57,887

DEPRECIATION

At 1 April 2022

11,009

267

15,906

1,620

28,802

Charge for year

1,998

-

7,540

-

9,538

At 31 March 2023

13,007

267

23,446

1,620

38,340

NET BOOK VALUE

At 31 March 2023

3,831

2

15,711

3

19,547

At 31 March 2022

5,829

2

23,251

3

29,085

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

Motor

vehicles

£

COST

At 1 April 2022

and 31 March 2023

30,162

DEPRECIATION

At 1 April 2022

and 31 March 2023

6,912

NET BOOK VALUE

At 31 March 2023

23,250

At 31 March 2022

23,250

5.

STOCKS

31.3.23

31.3.22

£

£

Work in progress

-

5,450

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

VAT

416

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

644

3,195

Hire purchase contracts

-

3,865

Corporation tax

10,710

6,596

Payroll taxation

(19,448

)

(11,309

)

VAT

-

916

Directors' current accounts

1,509

857

Accrued charges

1,305

1,225

(5,280

)

5,345

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans - 1-2 years

3,195

3,195

Bank loans - 2-5 years

6,242

6,242

Hire purchase contracts

4,508

4,508

13,945

13,945

9.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

3,714

5,526

Deferred

tax

£

Balance at 1 April 2022

5,526

Provided during year

(1,812

)

Balance at 31 March 2023

3,714

10.	ULTIMATE CONTROLLING PARTY

The controlling party is C Cochrane.