Company registration number 04774039 (England and Wales)
DIRECT SCAFFOLDING (BRISTOL) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
DIRECT SCAFFOLDING (BRISTOL) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
DIRECT SCAFFOLDING (BRISTOL) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr D J Paget
Miss R White
Secretary
Miss R White
Company number
04774039
Registered office
30 -31 St James Place
Mangotsfield
Bristol
England
BS16 9JB
Accountants
TC Group
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
DIRECT SCAFFOLDING (BRISTOL) LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
6,236
6,236
Tangible assets
5
51,684
22,511
Investment properties
6
440,000
530,783
497,920
559,530
Current assets
Debtors
7
439,950
274,038
Cash at bank and in hand
1,115,212
1,174,954
1,555,162
1,448,992
Creditors: amounts falling due within one year
8
(32,153)
(8,376)
Net current assets
1,523,009
1,440,616
Total assets less current liabilities
2,020,929
2,000,146
Provisions for liabilities
(31,348)
(37,602)
Net assets
1,989,581
1,962,544
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,989,481
1,962,444
Total equity
1,989,581
1,962,544
DIRECT SCAFFOLDING (BRISTOL) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2023
31 August 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 19 January 2024 and are signed on its behalf by:
Mr D J Paget
Miss R White
Director
Director
Company Registration No. 04774039
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
1
Accounting policies
Company information

Direct Scaffolding (Bristol) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 -31 St James Place, Mangotsfield, Bristol, England, BS16 9JB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

1.4
Intangible fixed assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Other is being amortised evenly over its estimated useful life of nil years.

DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Equipment
15% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 6 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Intangible fixed assets
Goodwill
Other intangible assets
Total
£
£
£
Cost
At 1 September 2022 and 31 August 2023
75,000
6,236
81,236
Amortisation and impairment
At 1 September 2022 and 31 August 2023
75,000
-
0
75,000
Carrying amount
At 31 August 2023
-
0
6,236
6,236
At 31 August 2022
-
0
6,236
6,236
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 7 -
5
Tangible fixed assets
Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 September 2022
19,521
67,552
87,073
Additions
-
0
46,490
46,490
Disposals
-
0
(4,000)
(4,000)
At 31 August 2023
19,521
110,042
129,563
Depreciation and impairment
At 1 September 2022
14,979
49,583
64,562
Depreciation charged in the year
1,137
15,368
16,505
Eliminated in respect of disposals
-
0
(3,188)
(3,188)
At 31 August 2023
16,116
61,763
77,879
Carrying amount
At 31 August 2023
3,405
48,279
51,684
At 31 August 2022
4,542
17,969
22,511
6
Investment property
2023
£
Fair value
At 1 September 2022
530,783
Revaluations
(90,783)
At 31 August 2023
440,000
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2023
2022
£
£
Cost
355,386
355,386
Accumulated depreciation
-
-
Carrying amount
355,386
355,386
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 8 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
14,376
12,630
Other debtors
142,983
88,718
157,359
101,348
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
282,591
172,690
Total debtors
439,950
274,038
8
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,648
-
0
Taxation and social security
26,735
5,851
Other creditors
2,770
2,525
32,153
8,376
9
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
175,397
-
Non distributable profits in the year
(90,783)
175,397
At the end of the year
84,614
175,397
10
Directors' transactions

 

DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
10
Directors' transactions
(Continued)
- 9 -
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Mr D J Paget -
-
27,467
31,504
58,971
Miss R White -
-
27,467
31,504
58,971
54,934
63,008
117,942
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