R & M SCAFFOLDING LIMITED
Registered number: SC238918
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,547 10,063
Current assets
Debtors 4 9,648 12,243
Cash at bank and in hand 8,734 15,315
18,382 27,558
Creditors: amounts falling due within one year 5 (22,464) (26,071)
Net current (liabilities)/assets (4,082) 1,487
Total assets less current liabilities 3,465 11,550
Creditors: amounts falling due after more than one year 6 (7,333) (11,333)
Net (liabilities)/assets (3,868) 217
Capital and reserves
Called up share capital 120 120
Profit and loss account (3,988) 97
Shareholders' funds (3,868) 217
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Catrina Crossey
Director
Approved by the board on 8 April 2024
R & M SCAFFOLDING LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 54,234 23,852 78,086
At 30 November 2023 54,234 23,852 78,086
Depreciation
At 1 December 2022 54,234 13,789 68,023
Charge for the year - 2,516 2,516
At 30 November 2023 54,234 16,305 70,539
Net book value
At 30 November 2023 - 7,547 7,547
At 30 November 2022 - 10,063 10,063
4 Debtors 2023 2022
£ £
Trade debtors 5,690 8,475
Prepayments 3,958 3,768
9,648 12,243
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,000 4,000
Corporation tax 11 1,427
Other taxes and social security costs 806 317
Accruals 579 460
Customs & Excise 3,373 5,473
Director's account 13,696 14,395
Other creditors (1) (1)
22,464 26,071
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 7,333 11,333
7 Related party transactions
The director Robert G Whiteside Snr has provided a loan to the company and the balance at the year end is detailed in note 5 to the accounts under Director's account. This will be repaid when the company has sufficient funds to make the repayment without affecting the cash flow of the company. Dividends have been paid as detailed on the Statement of Changes in Equity on page 6.
8 Controlling party
The ultimate controlling party is the director Mr Robert Whiteside Jnr who owns 58% of the called up share capital. The director Mr Robert Whiteside Snr owns 17% and the director Mrs Catrina Crossey owns 25% of the called up share capital.
9 Other information
R & M SCAFFOLDING LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
Unit 9
54 Barterholm Road
Paisley
Renfrewshire
PA2 6PB
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