49 30/11/2023 2023-11-30 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2022-12-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04519565 2022-12-01 2023-11-30 04519565 2023-11-30 04519565 2021-12-01 2022-11-30 04519565 2022-11-30 04519565 core:LandBuildings core:ShortLeaseholdAssets 2022-12-01 2023-11-30 04519565 core:PlantMachinery 2022-12-01 2023-11-30 04519565 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 04519565 core:MotorVehicles 2022-12-01 2023-11-30 04519565 bus:Director1 2022-12-01 2023-11-30 04519565 core:LandBuildings core:ShortLeaseholdAssets 2022-11-30 04519565 core:PlantMachinery 2022-11-30 04519565 core:FurnitureFittingsToolsEquipment 2022-11-30 04519565 core:MotorVehicles 2022-11-30 04519565 core:LandBuildings core:ShortLeaseholdAssets 2023-11-30 04519565 core:PlantMachinery 2023-11-30 04519565 core:FurnitureFittingsToolsEquipment 2023-11-30 04519565 core:MotorVehicles 2023-11-30 04519565 core:WithinOneYear 2023-11-30 04519565 core:WithinOneYear 2022-11-30 04519565 core:ShareCapital 2023-11-30 04519565 core:ShareCapital 2022-11-30 04519565 core:RetainedEarningsAccumulatedLosses 2023-11-30 04519565 core:RetainedEarningsAccumulatedLosses 2022-11-30 04519565 core:LandBuildings core:ShortLeaseholdAssets 2022-11-30 04519565 core:PlantMachinery 2022-11-30 04519565 core:FurnitureFittingsToolsEquipment 2022-11-30 04519565 core:MotorVehicles 2022-11-30 04519565 bus:SmallEntities 2022-12-01 2023-11-30 04519565 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 04519565 bus:FullAccounts 2022-12-01 2023-11-30 04519565 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 04519565 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30
Company registration number: 04519565
Paton Bros Scaffolding Limited
Unaudited filleted financial accounts
For the year ended
30 November 2023
Paton Bros Scaffolding Limited
Contents
Statement of financial position
Notes to the financial accounts
Paton Bros Scaffolding Limited
Statement of financial position
30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 3 1,662,107 1,664,199
________ ________
1,662,107 1,664,199
Current assets
Stocks 2,000 2,000
Debtors 4 5,540,979 4,333,540
Cash at bank and in hand 768,674 750,708
________ ________
6,311,653 5,086,248
Creditors: amounts falling due
within one year 5 ( 585,215) ( 482,902)
________ ________
Net current assets 5,726,438 4,603,346
________ ________
Total assets less current liabilities 7,388,545 6,267,545
Provisions for liabilities
Deferred taxation ( 435,010) ( 436,184)
________ ________
Net assets 6,953,535 5,831,361
________ ________
Capital and reserves
Called up share capital 102 3
Profit and loss account 6,953,433 5,831,358
________ ________
Shareholders funds 6,953,535 5,831,361
________ ________
For the year ending 30 November 2023 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 accounts 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 accounts.
These financial accounts 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 comprehensive income has not been delivered.
These financial accounts were approved by the board of directors and authorised for issue on 04 April 2024 , and are signed on behalf of the board by:
Mr J P Paton
Director
Company registration number: 04519565
Paton Bros Scaffolding Limited
Notes to the financial accounts
Year ended 30 November 2023
1. Accounting policies
Statutory information
These financial accounts have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same financial statements.
Paton Bros Scaffolding Limited is a private company, limited by shares, domiciled in England and Wales, registration number 04519565 . The registered office is Lillyhall Industrial Estate, Pitwood Road, Lillyhall, CA14 4JP.
Basis of preparation
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same financial statements. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover represents the total invoice value, excluding value added tax, of all work done in the period under contracts to supply goods and services to third parties. It includes the relevant proportion of contract values where work is partially performed in the period.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible fixed assets are included at cost less depreciation and impairment.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - 2 % reducing balance
Plant and machinery - 7.5 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Inventories
Inventories are measured at the lower of cost and net realisable value.
Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in comprehensive income when due.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 49 (2022: 30 ).
3. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 December 2022 86,837 3,031,463 88,483 258,336 3,465,119
Additions - 56,159 6,815 110,800 173,774
Disposals - - - ( 11,012) (11,012)
________ ________ ________ ________ ________
At 30 November 2023 86,837 3,087,622 95,298 358,124 3,627,881
________ ________ ________ ________ ________
Depreciation
At 1 December 2022 5,107 1,618,939 50,323 126,551 1,800,920
Charge for the year 1,635 110,157 6,747 46,315 164,854
________ ________ ________ ________ ________
At 30 November 2023 6,742 1,729,096 57,070 172,866 1,965,774
________ ________ ________ ________ ________
Carrying amount
At 30 November 2023 80,095 1,358,526 38,228 185,258 1,662,107
________ ________ ________ ________ ________
At 30 November 2022 81,730 1,412,524 38,160 131,785 1,664,199
________ ________ ________ ________ ________
4. Debtors
2023 2022
£ £
Trade debtors 552,502 549,040
Other debtors 4,988,477 3,784,500
________ ________
5,540,979 4,333,540
________ ________
5. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 15,021 10,380
Corporation tax 364,054 276,278
Taxation and social security 193,343 187,157
Other creditors 12,797 9,087
________ ________
585,215 482,902
________ ________
6. Pension commitments
The company operates a defined contribution pension scheme on behalf of its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date there were unpaid contributions of £nil (2022: £nil) due to the fund. They are included in other creditors.
7. Directors advances, credits and guarantees
During the year the company made advances to Mr J P Paton , a director, totalling £1,064,816. No repayments were made by 30 November 2023 and so the balance outstanding at the year end, 30 November 2023, was £3,474,219 (2022: £2,409,403). Where applicable, interest is charged on overdrawn loan accounts at the rate of 2% to 5 April 2023 and then 2.25% thereafter, loans are repayable on demand.
8. Related party transactions
During the year the company operated from premises owned by Mr J P Paton, a director, on a rent free basis.