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REGISTERED NUMBER: 02319030 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Wallington Scaffolding Limited

Wallington Scaffolding Limited (Registered number: 02319030)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wallington Scaffolding Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: P Taylor
A M Taylor





SECRETARY: A M Taylor





REGISTERED OFFICE: Airport House
Purley Way
Croydon
United Kingdom
CR0 0XZ





REGISTERED NUMBER: 02319030 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Wallington Scaffolding Limited (Registered number: 02319030)

Balance Sheet
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 821,975 98,539

CURRENT ASSETS
Debtors 5 217,322 252,321
Cash in hand 2,226 4,967
219,548 257,288
CREDITORS
Amounts falling due within one year 6 (156,714 ) (196,149 )
NET CURRENT ASSETS 62,834 61,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,809

159,678

CREDITORS
Amounts falling due after more than one
year

7

(48,420

)

(70,948

)

PROVISIONS FOR LIABILITIES 9 (154,806 ) (17,052 )
NET ASSETS 681,583 71,678

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 606,244 -
Retained earnings 10 75,239 71,578
681,583 71,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Wallington Scaffolding Limited (Registered number: 02319030)

Balance Sheet - continued
31 January 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





P Taylor - Director


Wallington Scaffolding Limited (Registered number: 02319030)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Wallington Scaffolding Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company was that of erection and hire of scaffolding to the building industry.

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 as modified by the revaluation of certain assets.

TURNOVER
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery 10% on cost
Fixtures and fittings 25% on cost
Motor vehicles25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Wallington Scaffolding Limited (Registered number: 02319030)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and Retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

PENSIONS
DEFINED CONTRIBUTION PENSION PLAN
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of income and retained earning when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2022 385,013 8,936 268,669 662,618
Additions - 1,199 - 1,199
Disposals - (878 ) - (878 )
Revaluations 748,450 - - 748,450
At 31 January 2023 1,133,463 9,257 268,669 1,411,389
DEPRECIATION
At 1 February 2022 382,034 4,817 177,228 564,079
Charge for year 1,429 1,924 22,860 26,213
Eliminated on disposal - (878 ) - (878 )
At 31 January 2023 383,463 5,863 200,088 589,414
NET BOOK VALUE
At 31 January 2023 750,000 3,394 68,581 821,975
At 31 January 2022 2,979 4,119 91,441 98,539

Wallington Scaffolding Limited (Registered number: 02319030)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 January 2023 is represented by:

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Valuation in 2023 748,450 - - 748,450
Cost 385,013 9,257 268,669 662,939
1,133,463 9,257 268,669 1,411,389

The fair value of the plant and machineries have been arrived at on the basis of a valuation provided by directors based on open market value. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 153,959 167,896
Other debtors 63,363 84,425
217,322 252,321

The directors consider the carrying value of trade and other receivables approximate to their fair value.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 677 17,786
Hire purchase contracts (see note 8) 22,972 27,412
Trade creditors 17,473 26,682
Taxation and social security 87,750 96,827
Other creditors 27,842 27,442
156,714 196,149

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 48,420 70,948

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

Wallington Scaffolding Limited (Registered number: 02319030)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 22,972 27,412
Between one and five years 48,420 70,948
71,392 98,360

Non-cancellable operating leases
2023 2022
£    £   
Within one year 5,400 10,800
Between one and five years - 5,400
5,400 16,200

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Deferred tax 12,600 17,052
Deferred taxation liability -
on revaluation of assets 142,206 -
154,806 17,052

Deferred
tax
£   
Balance at 1 February 2022 17,052
Provided during year 137,754
Balance at 31 January 2023 154,806

10. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

REVALUATION RESERVES
Revaluation reserve consist of revaluation adjustments and deferred tax in relation to plant and machineries. This is a non-distributable reserve.

Wallington Scaffolding Limited (Registered number: 02319030)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £12,558 (2022- £12,940).

Contribution totalling £812 (2022- Nil) were payable to fund at balance sheet date and are included in other creditors.

12. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in creditors were amounts of £1,576 (2022 - £377) due to the directors.