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REGISTERED NUMBER: 11998118 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

PROJECT SCAFFOLDING SW LTD

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROJECT SCAFFOLDING SW LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr A W Foster



REGISTERED OFFICE: 17 Cedar Close
Cranbrook
Exeter
EX5 7FX



REGISTERED NUMBER: 11998118 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: HSBC

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 211,595 58,261

CURRENT ASSETS
Stocks 5 100 100
Debtors 6 56,622 38,811
Cash at bank 1 28,536
56,723 67,447
CREDITORS
Amounts falling due within one year 7 83,735 31,572
NET CURRENT (LIABILITIES)/ASSETS (27,012 ) 35,875
TOTAL ASSETS LESS CURRENT LIABILITIES 184,583 94,136

CREDITORS
Amounts falling due after more than one
year

8

(84,300

)

(8,968

)

PROVISIONS FOR LIABILITIES (29,829 ) (11,069 )
NET ASSETS 70,454 74,099

CAPITAL AND RESERVES
Called up share capital 50 1
Retained earnings 70,404 74,098
SHAREHOLDERS' FUNDS 70,454 74,099

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

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

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

BALANCE SHEET - continued
31 MAY 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 August 2023 and were signed by:





Mr A W Foster - Director


PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Project Scaffolding SW Ltd 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 55,682 31,245 - 86,927
Additions 177,466 33,448 841 211,755
Disposals - (5,600 ) - (5,600 )
At 31 May 2023 233,148 59,093 841 293,082
DEPRECIATION
At 1 June 2022 17,877 10,789 - 28,666
Charge for year 43,054 12,917 210 56,181
Eliminated on disposal - (3,360 ) - (3,360 )
At 31 May 2023 60,931 20,346 210 81,487
NET BOOK VALUE
At 31 May 2023 172,217 38,747 631 211,595
At 31 May 2022 37,805 20,456 - 58,261

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
Additions 69,991 30,990 100,981
At 31 May 2023 69,991 30,990 100,981
DEPRECIATION
Charge for year 13,998 7,748 21,746
At 31 May 2023 13,998 7,748 21,746
NET BOOK VALUE
At 31 May 2023 55,993 23,242 79,235

5. STOCKS
2023 2022
£    £   
Stocks 100 100

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 28,372 29,282
Directors' current accounts 7,397 9,529
VAT 13,666 -
49,435 38,811

Amounts falling due after more than one year:
Tax 7,187 -

Aggregate amounts 56,622 38,811

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 41,023 3,000
Hire purchase contracts 24,930 -
Trade creditors 4,931 1,470
Tax - 14,243
Social security and other taxes 9,206 3,681
VAT - 7,828
Other creditors 2,000 -
Accrued expenses 1,645 1,350
83,735 31,572

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 16,342 -
Bank loans - 2-5 years 249 8,968
Hire purchase contracts 67,709 -
84,300 8,968

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr A W Foster
Balance outstanding at start of year 9,529 (2,405 )
Amounts advanced 46,832 57,934
Amounts repaid (48,964 ) (46,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,397 9,529

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £35,000 (2022 - £46,000) were paid to the director .

Included in Other Creditors are dividends to the Director's wife of £2,000.

11. GOVERNMENT GUARANTEED LOAN

The bank loan of £9,148.77 is a COVID-19 Bounce Back Loan guaranteed by the government. Term runs to June 2026