1 January 2022 v2023.21.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBPSC4299172022-01-012022-12-31SC4299172022-12-31SC4299172021-12-31SC429917core:WithinOneYear2022-12-31SC429917core:WithinOneYear2021-12-31SC429917core:AfterOneYear2022-12-31SC429917core:AfterOneYear2021-12-31SC429917core:ShareCapital2022-12-31SC429917core:ShareCapital2021-12-31SC429917core:RetainedEarningsAccumulatedLosses2022-12-31SC429917core:RetainedEarningsAccumulatedLosses2021-12-31SC429917bus:Director12022-01-012022-12-31SC429917bus:RegisteredOffice2022-01-012022-12-31SC429917core:PlantMachinery2022-01-012022-12-31SC429917core:MotorVehicles2022-01-012022-12-31SC4299172020-09-012021-12-31SC429917core:PlantMachinery2022-01-01SC429917core:PlantMachinery2022-12-31SC429917core:PlantMachinery2021-12-31SC42991712022-01-012022-12-31SC429917countries:Scotland2022-01-012022-12-31SC429917bus:AuditExemptWithAccountantsReport2022-01-012022-12-31SC429917bus:PrivateLimitedCompanyLtd2022-01-012022-12-31SC429917bus:SmallEntities2022-01-012022-12-31SC429917bus:FullAccounts2022-01-012022-12-31
Company registration number:
SC429917
Scaffolding Scotland Hire & Sales Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2022
Scaffolding Scotland Hire & Sales Limited
Statement of Financial Position
31 December 2022
20222021
Note££
Fixed assets    
Tangible assets 5
122,730
 
142,321
 
Current assets    
Stocks
6,969
 
20,804
 
Debtors 6
249,402
 
83,051
 
Cash at bank and in hand
11,939
 
95,529
 
268,310
 
199,384
 
Creditors: amounts falling due within one year 7
(179,520
)
(131,743
)
Net current assets
88,790
 
67,641
 
Total assets less current liabilities 211,520   209,962  
Creditors: amounts falling due after more than one year 8
(173,653
)
(121,273
)
Net assets
37,867
 
88,689
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
37,865
 
88,687
 
Shareholders funds
37,867
 
88,689
 
For the year ending
31 December 2022
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
29 September 2023
, and are signed on behalf of the board by:
Mrs Theresa Shaw
Director
Company registration number:
SC429917
Scaffolding Scotland Hire & Sales Limited
Notes to the Financial Statements
Year ended
31 December 2022

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
100 Burnbank Street
,
Coatbridge
,
ML5 2AY
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
7% straight line
Motor vehicles
25% Reducing Balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
8
(2021:
10.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2022
307,912
 
Additions
22,264
 
Disposals
(46,913
)
At
31 December 2022
283,263
 
Depreciation  
At
1 January 2022
165,591
 
Charge
24,314
 
Disposals
(29,372
)
At
31 December 2022
160,533
 
Carrying amount  
At
31 December 2022
122,730
 
At 31 December 2021
142,321
 

6 Debtors

20222021
££
Trade debtors
214,446
 
54,706
 
Other debtors
34,956
 
28,345
 
249,402
 
83,051
 

7 Creditors: amounts falling due within one year

20222021
££
Bank loans and overdrafts
32,833
 
15,000
 
Trade creditors
18,279
  -  
Taxation and social security
66,025
 
21,530
 
Other creditors
62,383
 
95,213
 
179,520
 
131,743
 

8 Creditors: amounts falling due after more than one year

20222021
££
Bank loans and overdrafts
139,051
 
68,687
 
Other creditors
34,602
 
52,586
 
173,653
 
121,273
 

10 Controlling party

The company was under the control of Mrs T Shaw for the current and previous periods. Mrs T Shaw holds 100% of the share capital of the company.