IRIS Accounts Production v22.1.4.3 SC427641 Board of Directors 1.4.21 31.3.22 31.3.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC4276412021-03-31SC4276412022-03-31SC4276412021-04-012022-03-31SC4276412020-03-31SC4276412020-04-012021-03-31SC4276412021-03-31SC427641ns16:Scotland2021-04-012022-03-31SC427641ns15:PoundSterling2021-04-012022-03-31SC427641ns11:Director12021-04-012022-03-31SC427641ns11:PrivateLimitedCompanyLtd2021-04-012022-03-31SC427641ns11:SmallEntities2021-04-012022-03-31SC427641ns11:AuditExempt-NoAccountantsReport2021-04-012022-03-31SC427641ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-31SC427641ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-31SC427641ns11:AbridgedAccounts2021-04-012022-03-31SC427641ns11:Director22021-04-012022-03-31SC427641ns11:Director32021-04-012022-03-31SC427641ns11:RegisteredOffice2021-04-012022-03-31SC427641ns6:CurrentFinancialInstruments2021-03-31SC427641ns6:CurrentFinancialInstruments2022-03-31SC427641ns6:Non-currentFinancialInstruments2021-03-31SC427641ns6:Non-currentFinancialInstruments2022-03-31SC427641ns6:ShareCapital2021-03-31SC427641ns6:ShareCapital2022-03-31SC427641ns6:RetainedEarningsAccumulatedLosses2021-03-31SC427641ns6:RetainedEarningsAccumulatedLosses2022-03-31SC427641ns6:LandBuildings2021-04-012022-03-31SC427641ns6:PlantMachinery2021-04-012022-03-31SC427641ns6:Secured2022-03-31SC427641ns6:Secured2021-03-31
REGISTERED NUMBER: SC427641 (Scotland)










Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Scaffold Orkney Limited

Scaffold Orkney Limited (Registered number: SC427641)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Scaffold Orkney Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: G D Summers
D S Summers
Mrs L J Summers



REGISTERED OFFICE: Gairth
Corston
Harray
Orkney
KW17 2LQ



REGISTERED NUMBER: SC427641 (Scotland)



ACCOUNTANTS: Orcadia
Chartered Accountants
1 - 3 East Road
Kirkwall
Orkney
KW15 1HZ



BANKERS: Bank of Scotland
56 Albert Street
Kirkwall
Orkney
KW15 1HJ

Scaffold Orkney Limited (Registered number: SC427641)

Abridged Balance Sheet
31 March 2022

2021 2022
£    £    Notes £    £   
FIXED ASSETS
273,277 Tangible assets 4 267,389
429,250 Investments 5 429,250
702,527 696,639

CURRENT ASSETS
- Stocks 19,517
66,582 Debtors 125,147
- Cash at bank 616
66,582 145,280
CREDITORS
634,953 Amounts falling due within one year 637,366
(568,371 ) NET CURRENT LIABILITIES (492,086 )
134,156 TOTAL ASSETS LESS CURRENT
LIABILITIES

204,553

CREDITORS
(99,607 ) Amounts falling due after more than one
year

(71,008

)

(1,912 ) ACCRUALS AND DEFERRED INCOME (1,434 )
32,637 NET ASSETS 132,111

Scaffold Orkney Limited (Registered number: SC427641)

Abridged Balance Sheet - continued
31 March 2022

2021 2022
£    £    Notes £    £   
CAPITAL AND RESERVES
100 Called up share capital 100
32,537 Retained earnings 132,011
32,637 SHAREHOLDERS' FUNDS 132,111

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2022 and were signed on its behalf by:





G D Summers - Director


Scaffold Orkney Limited (Registered number: SC427641)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Scaffold Orkney 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.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance

Land and Buildings are not depreciated, as properties are maintained to ensure that their value does not diminish over time.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Scaffold Orkney Limited (Registered number: SC427641)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors re initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Hire purchase and leasing commitments
Assets obtained under finance leases and hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful lives. The interest element of the rental obligations are charged to profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

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.

Scaffold Orkney Limited (Registered number: SC427641)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Government grants
Government grants received are treated as deferred credits and credited to the profit and loss account over the estimated useful life of the relevant fixed assets. Other grants of a revenue nature are credited to the profit and loss account in the year to which they relate.

Hire purchase and leasing commitments
Assets obtained under finance leases and hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful lives. The interest element of the rental obligations are charged to profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 10 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021 606,896
Additions 55,298
Disposals (1,963 )
At 31 March 2022 660,231
DEPRECIATION
At 1 April 2021 333,619
Charge for year 59,929
Eliminated on disposal (706 )
At 31 March 2022 392,842
NET BOOK VALUE
At 31 March 2022 267,389
At 31 March 2021 273,277

Included in cost of land and buildings is freehold land of £ 57,148 (2021 - £ 57,148 ) which is not depreciated.

Scaffold Orkney Limited (Registered number: SC427641)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2021
and 31 March 2022 429,250
NET BOOK VALUE
At 31 March 2022 429,250
At 31 March 2021 429,250

6. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank overdrafts 64,325 57,567
Bank loans 78,046 137,427
142,371 194,994

The bank loan and overdraft are secured by a Floating Charge, over the whole assets of the company, created in favour of the Bank of Scotland.