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Company Registration No. 11625140 (England and Wales)
Royston Scaffolding Limited Unaudited accounts for the year ended 31 December 2023
Royston Scaffolding Limited Unaudited accounts Contents
Page
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Royston Scaffolding Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
346,539 
223,622 
Current assets
Inventories
25,170 
7,000 
Debtors
102,204 
102,684 
Cash at bank and in hand
190,020 
163,320 
317,394 
273,004 
Creditors: amounts falling due within one year
(135,956)
(123,704)
Net current assets
181,438 
149,300 
Total assets less current liabilities
527,977 
372,922 
Creditors: amounts falling due after more than one year
(84,918)
(117,681)
Provisions for liabilities
Deferred tax
(86,635)
(55,906)
Net assets
356,424 
199,335 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
356,423 
199,334 
Shareholders' funds
356,424 
199,335 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 March 2024 and were signed on its behalf by
E McGrath Director Company Registration No. 11625140
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Royston Scaffolding Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Royston Scaffolding Limited is a private company, limited by shares, registered in England and Wales, registration number 11625140. The registered office is 3 The Lanterns, 16 Melbourn Street, Royston, Herts, SG8 7BX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities and the Companies Act 2006. There were no material departures from that standard. The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.
3
Accounting policies
These financial statements for the year ended 31 December 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note 9 below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: •the company has transferred to the buyer the significant risks and rewards of ownership of the goods; •the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; •the amount of revenue can be measured reliably; •it is probable that the economic benefits associated with the transaction will flow to the company; and •the costs incurred or to be incurred in respect of the transition can be measured reliably. Specifically, revenue from the sale of goods is recognised when the goods are delivered and legal title has passed.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Straight Line
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Royston Scaffolding Limited Notes to the Accounts for the year ended 31 December 2023
Leased assets
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight-line basis, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Deferred taxation
Taxation represents the sum of tax currently payable and deferred tax. Deferred tax provision has been implemented following the transition to FRS 102 Section 1A when a provision was not previously required. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
215,354 
117,890 
1,364 
334,608 
Additions
114,569 
60,250 
5,649 
180,468 
At 31 December 2023
329,923 
178,140 
7,013 
515,076 
Depreciation
At 1 January 2023
92,551 
17,500 
935 
110,986 
Charge for the year
30,701 
25,097 
1,753 
57,551 
At 31 December 2023
123,252 
42,597 
2,688 
168,537 
Net book value
At 31 December 2023
206,671 
135,543 
4,325 
346,539 
At 31 December 2022
122,803 
100,390 
429 
223,622 
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Royston Scaffolding Limited Notes to the Accounts for the year ended 31 December 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,992 
Trade debtors
42,418 
29,708 
Other debtors
59,786 
70,984 
102,204 
102,684 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
6,295 
- 
Obligations under finance leases and hire purchase contracts
23,307 
33,585 
Trade creditors
33,824 
32,068 
Taxes and social security
58,005 
43,670 
Other creditors
4,525 
3,018 
Loans from directors
- 
1,363 
135,956 
123,704 
The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,139 
25,139 
Obligations under finance leases and hire purchase contracts
69,779 
92,542 
84,918 
117,681 
The bank loan is secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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Royston Scaffolding Limited Notes to the Accounts for the year ended 31 December 2023
9
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 January 2022 
31 December 2022 
£ 
£ 
Capital and reserves (as previously stated)
199,335 
255,241 
Deferred Taxation
(55,906)
Capital and reserves (as restated)
199,335 
199,335 
Reconciliation of profit or loss for the year
31 December 2022 
£ 
Profit for the year (as previously stated)
240,346 
Deferred Tax
(55,906)
Profit for the year (as restated)
184,440 
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