James Mullin Roofing Ltd. - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC361119 (Scotland)

Financial Statements

for the Year Ended 30 June 2023

for

James Mullin Roofing Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Mullin

SECRETARY:

Mrs E S Mullin

REGISTERED OFFICE:

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

REGISTERED NUMBER:

SC361119 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Property, plant and equipment

4

7,367

9,832

CURRENT ASSETS

Debtors

5

1,709

1,526

Cash at bank

54,258

87,239

55,967

88,765

CREDITORS

Amounts falling due within one year

6

9,950

9,236

NET CURRENT ASSETS

46,017

79,529

TOTAL ASSETS LESS CURRENT LIABILITIES

53,384

89,361

PROVISIONS FOR LIABILITIES

1,400

1,868

NET ASSETS

51,984

87,493

CAPITAL AND RESERVES

Called up share capital

7

5

5

Retained earnings

51,979

87,488

SHAREHOLDERS' FUNDS

51,984

87,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 23 January 2024 and were signed by:

J Mullin - Director

1.	STATUTORY INFORMATION

James Mullin Roofing Ltd. 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.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

On this basis, the director believes that the company will continue in operation for the next 12 months and considers it appropriate to prepare the financial statements on a going concern basis.

Revenue

Turnover is measured at fair value of the consideration received or receivable. Turnover includes revenue earned from the sale of goods and from the rendering of services.

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.

Tools & Equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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 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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Impairment of fixed assets

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Tools &

Motor

Computer

Equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2022

6,276

13,171

1,643

21,090

Additions

945

-

-

945

Disposals

(4,836

)

-

(366

)

(5,202

)

At 30 June 2023

2,385

13,171

1,277

16,833

DEPRECIATION

At 1 July 2022

4,424

5,762

1,072

11,258

Charge for year

220

1,852

425

2,497

Eliminated on disposal

(3,923

)

-

(366

)

(4,289

)

At 30 June 2023

721

7,614

1,131

9,466

NET BOOK VALUE

At 30 June 2023

1,664

5,557

146

7,367

At 30 June 2022

1,852

7,409

571

9,832

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

37

-

Other debtors

1,672

1,526

1,709

1,526

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

-

350

Taxation and social security

6,880

6,650

Other creditors

3,070

2,236

9,950

9,236

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

5

Ordinary

£1

5

5