One of the reasons that the ends are folded over and sewed is that if you pull too hard they will fall thru the ratchet portion. The "fold" keeps it all intact. Without it you may have to rethread the whole thing, which is a PITA.
All my straps are custom fitted to each boat. I cut them off to proper length, and then heat treat the ends with a match. Finally, I fold them over and the wife sews them back into a triple folded loop. If you don't have a sewing machine, hand stitching would work just as well.