REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
TRITON SCAFFOLDING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
TRITON SCAFFOLDING LIMITED |
TRITON SCAFFOLDING LIMITED (REGISTERED NUMBER: 03780689) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
TRITON SCAFFOLDING LIMITED (REGISTERED NUMBER: 03780689) |
BALANCE SHEET |
31 JULY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
Provisions for liabilities | 10 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
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. |
TRITON SCAFFOLDING LIMITED (REGISTERED NUMBER: 03780689) |
BALANCE SHEET - continued |
31 JULY 2023 |
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 |
TRITON SCAFFOLDING LIMITED (REGISTERED NUMBER: 03780689) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
1. | Statutory information |
Triton Scaffolding Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03780689. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH, and business address is Four Acres, Careys Road, Bournemouth, Dorset, BH8 0DT. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents income generated from the hiring out and erection of scaffolding, net of VAT where applicable. |
Patents & licences |
Amortisation is being charged on intangible assets over their deemed useful lives of 10 years. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stock and Work In Progress are valued at the lower of cost and net realisable value. |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
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. |
TRITON SCAFFOLDING LIMITED (REGISTERED NUMBER: 03780689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
2. | Accounting policies - continued |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Other |
intangible |
assets |
£ |
Cost |
At 1 August 2022 |
and 31 July 2023 |
Amortisation |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
5. | Tangible fixed assets |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 August 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 July 2023 |
Depreciation |
At 1 August 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
TRITON SCAFFOLDING LIMITED (REGISTERED NUMBER: 03780689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
5. | Tangible fixed assets - continued |
Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 August 2022 |
Additions |
Transfer to ownership | - | (48,314 | ) | (48,314 | ) |
At 31 July 2023 |
Depreciation |
At 1 August 2022 |
Charge for year |
Transfer to ownership | - | (33,027 | ) | (33,027 | ) |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments and accrued income |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Hire purchase contracts and finance leases |
Trade creditors |
Tax |
Social security and other taxes |
VAT | - | 4,037 |
Other creditors |
Directors' current accounts | 21,797 | 20,397 |
Accruals and deferred income |
TRITON SCAFFOLDING LIMITED (REGISTERED NUMBER: 03780689) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Other loans - 1-2 years | 24,844 | 22,467 |
Other loans - 2-5 years |
Hire purchase contracts and finance leases |
9. | Secured debts |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts and finance leases | 131,121 | 53,861 |
Amounts owing under hire purchase and finance lease agreements are secured against the assets to which they relate. |
All amounts owing to HSBC Bank PLC are secured against all the assets of the company by way of a charge dated 24 July 2020. |
10. | Provisions for liabilities |
2023 | 2022 |
£ | £ |
Deferred tax | 62,003 | 33,140 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Provided during year |
Balance at 31 July 2023 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
12. | Ultimate controlling party |
The company is controlled by the directors, Mr G Lafferty, Mr P Challis and Mrs S Challis, who between them own 100% of the voting share capital of the company. |