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Registration number: 10352027

A.F Scaffolding Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2023

 

A.F Scaffolding Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

A.F Scaffolding Ltd

Company Information

Director

Mr Andrew Fyfe

Company secretary

Mr Andrew Fyfe

Emily Fyfe

Registered office

42 Flamsteed Heights
Eddington Hill
Crawley
West Sussex
RH11 9JS

Accountants

AIMS Accountants for Business
Suite 73
95 Wilton Road
London
SW1V 1BZ

 

A.F Scaffolding Ltd

(Registration number: 10352027)
Abridged Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

705,459

543,279

Current assets

 

Debtors

5

65,687

79,569

Cash at bank and in hand

 

23,305

22,588

 

88,992

102,157

Creditors: Amounts falling due within one year

(235,961)

(276,351)

Net current liabilities

 

(146,969)

(174,194)

Total assets less current liabilities

 

558,490

369,085

Creditors: Amounts falling due after more than one year

(111,976)

(32,096)

Accruals and deferred income

 

(630)

(630)

Net assets

 

445,884

336,359

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

445,784

336,259

Shareholders' funds

 

445,884

336,359

For the financial year ending 31 August 2023 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 10 October 2023
 

 

A.F Scaffolding Ltd

(Registration number: 10352027)
Abridged Balance Sheet as at 31 August 2023

.........................................
Mr Andrew Fyfe
Director

 

A.F Scaffolding Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
42 Flamsteed Heights
Eddington Hill
Crawley
West Sussex
RH11 9JS

These financial statements were authorised for issue by the director on 10 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

A.F Scaffolding Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% straight line

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Furniture and fittings

25% reducing balance

Plant and machinery

2% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

A.F Scaffolding Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

 

A.F Scaffolding Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 September 2022

3,996

1,340

507,596

633

Additions

-

1,432

120,741

982

Disposals

-

-

-

-

At 31 August 2023

3,996

2,772

628,337

1,615

Depreciation

At 1 September 2022

240

775

30,780

158

Charge for the year

80

499

12,567

364

Eliminated on disposal

-

-

-

-

At 31 August 2023

320

1,274

43,347

522

Carrying amount

At 31 August 2023

3,676

1,498

584,990

1,093

At 31 August 2022

3,756

565

476,816

475

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

77,509

591,074

Additions

126,956

250,111

Disposals

(25,971)

(25,971)

At 31 August 2023

178,494

815,214

Depreciation

At 1 September 2022

15,842

47,795

Charge for the year

54,943

68,453

Eliminated on disposal

(6,493)

(6,493)

At 31 August 2023

64,292

109,755

Carrying amount

At 31 August 2023

114,202

705,459

At 31 August 2022

61,667

543,279

Included within the net book value of land and buildings above is £3,677 (2022 - £3,757) in respect of freehold land and buildings.
 

 

A.F Scaffolding Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £1,710.00 (2022 - £440.00) per each Ordinary shares

 

171,000

 

44,000

         

8

Related party transactions

 

A.F Scaffolding Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,500

12,501