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REGISTERED NUMBER: 10601868 (England and Wales)










Unaudited Financial Statements

for the Year Ended 28 February 2022

for

Pro Spec Scaffolding Ltd

Pro Spec Scaffolding Ltd (Registered number: 10601868)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pro Spec Scaffolding Ltd

Company Information
for the Year Ended 28 February 2022







DIRECTOR: S Jenkins





REGISTERED OFFICE: 43 Tollerton Drive
Sunderland
SR5 3DQ





REGISTERED NUMBER: 10601868 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Yoden House
30 Yoden Way
Peterlee
Co. Durham
SR8 1AL

Pro Spec Scaffolding Ltd (Registered number: 10601868)

Balance Sheet
28 February 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 3 16,682 10,318

CURRENT ASSETS
Debtors 4 80,147 92,057
Cash at bank - 7,045
80,147 99,102
CREDITORS
Amounts falling due within one year 5 (50,396 ) (65,142 )
NET CURRENT ASSETS 29,751 33,960
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,433

44,278

CREDITORS
Amounts falling due after more than one
year

6

(45,036

)

(45,077

)
NET ASSETS/(LIABILITIES) 1,397 (799 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,297 (899 )
1,397 (799 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Pro Spec Scaffolding Ltd (Registered number: 10601868)

Balance Sheet - continued
28 February 2022


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 2 September 2022 and were signed by:





S Jenkins - Director


Pro Spec Scaffolding Ltd (Registered number: 10601868)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% 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.

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.

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.

GOING CONCERN NOTE
The financial statements have been prepared on a going concern basis, the director believes this assumption to be appropriate based on the continuing financial support of the company`s director and loan provider.

If the going concern basis was not appropriate, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Pro Spec Scaffolding Ltd (Registered number: 10601868)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2021 12,285 6,080 36,933 2,194 57,492
Additions - - 12,950 - 12,950
Disposals (12,285 ) - (16,360 ) (2,194 ) (30,839 )
At 28 February 2022 - 6,080 33,523 - 39,603
DEPRECIATION
At 1 March 2021 12,285 6,080 26,883 1,926 47,174
Charge for year - - 3,034 - 3,034
Eliminated on disposal (12,285 ) - (13,076 ) (1,926 ) (27,287 )
At 28 February 2022 - 6,080 16,841 - 22,921
NET BOOK VALUE
At 28 February 2022 - - 16,682 - 16,682
At 28 February 2021 - - 10,050 268 10,318

Included in tangible fixed assets are items held under hire purchase with a net book value of £15,128 (2021: £5,407).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 63,189 52,502
Other debtors - 7,085
Directors' current accounts - 29,357
VAT 16,958 -
Prepayments - 3,113
80,147 92,057

Pro Spec Scaffolding Ltd (Registered number: 10601868)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,407 7,108
Hire purchase contracts 5,365 3,482
Trade creditors 26,453 44,003
Corporation tax 834 -
Social security and other tax 5,002 -
Pension Liability 324 363
VAT - 8,201
Other creditors - 36
Directors' current accounts 445 -
Accrued expenses 1,566 1,949
50,396 65,142

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bounce Back Loan 2 to 5 year 33,676 42,892
Hire purchase contracts 11,360 2,185
45,036 45,077

7. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 16,725 5,667

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2022 and 28 February 2021:

2022 2021
£    £   
S Jenkins
Balance outstanding at start of year 29,357 14,952
Amounts advanced 16,944 17,812
Amounts repaid (46,301 ) (3,407 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 29,357