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COMPANY REGISTRATION NUMBER: 13726913
Structural Contractors Limited
Filleted Unaudited Financial Statements
31 December 2022
Structural Contractors Limited
Statement of Financial Position
31 December 2022
31 Dec 22
Note
£
Current assets
Debtors
6
146,531
Creditors: amounts falling due within one year
7
( 128,397)
---------
Net current assets
18,134
--------
Total assets less current liabilities
18,134
--------
Net assets
18,134
--------
Capital and reserves
Called up share capital
100
Profit and loss account
18,034
--------
Members' funds
18,134
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 5 November 2023 , and are signed on behalf of the board by:
K Glover
Director
Company registration number: 13726913
Structural Contractors Limited
Notes to the Financial Statements
Period from 5 November 2021 to 31 December 2022
1. Statutory information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ellgreave Street, Middleport, Stoke On Trent, United Kingdom, ST6 4DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
(c) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(d) 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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
(e) Defined contribution pension plans
Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 5 .
5. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:
Period from
5 Nov 21 to
31 Dec 22
£
Remuneration
49,119
--------
The number of directors who accrued benefits under company pension plans was as follows:
31 Dec 22
No.
Defined contribution plans
2
----
6. Debtors
31 Dec 22
£
Other debtors
146,531
---------
7. Creditors: amounts falling due within one year
31 Dec 22
£
Trade creditors
2,814
Corporation tax
5,945
Other creditors
119,638
---------
128,397
---------
8. Related party transactions
K Glover and C Beeston are related parties by virtue of their directorships of and shareholdings in the company. During the year, the company paid dividends to K Glover and C Beeston in the sum of £ 6,500 . During the year, K Glover and C Beeston operated director's loan accounts with the company such that, at the year end, they were owed the sum of £ 400 . These loans were interest free and repayable on demand. Millward Holdings Limited is a related party by virtue of its former shareholding in the company and continued shareholding in and influence over Scaffolding Contractors Limited. Anthony Millward is a related party by virtue of his directorship of and shareholding in Millward Holdings Limited. Scaffolding Contractors Limited is a wholly owned subsidiary of Millward Holdings Limited and is a related party by virtue of it financing the operations of the company. At the period end, the company owed Scaffolding Contractors Limited the sum of £110,601. This loan was interest free and repayable on demand. Lee Millward is a related party by virtue of his directorship of Scaffolding Contractors Limited and former directorship of the company.