Registered number
10188595
Brutus Scaffolding Limited
Filleted Accounts
31 May 2023
Brutus Scaffolding Limited
Registered number: 10188595
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 484,744 407,819
Current assets
Debtors 4 159,234 92,986
Cash at bank and in hand 28,353 12,986
187,587 105,972
Creditors: amounts falling due within one year 5 (445,193) (335,811)
Net current liabilities (257,606) (229,839)
Total assets less current liabilities 227,138 177,980
Creditors: amounts falling due after more than one year 6 (48,341) (63,691)
Provisions for liabilities (121,185) (71,253)
Net assets 57,612 43,036
Capital and reserves
Called up share capital 100 100
Profit and loss account 57,512 42,936
Shareholder's funds 57,612 43,036
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr B Perks
Director
Approved by the board on 24 April 2024
Brutus Scaffolding Limited
Notes to the Accounts
for the year ended 31 May 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 (as applied to small entities by section 1A of the standard).
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:
Motor Vehicles 18% reducing balance
Plant and machinery 18% reducing balance
Computer 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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 5 4
3 Tangible fixed assets
Computer Equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2022 - 616,406 52,007 668,413
Additions 733 209,717 4,650 215,100
Disposals - (42,857) - (42,857)
At 31 May 2023 733 783,266 56,657 840,656
Depreciation
At 1 June 2022 - 240,848 19,746 260,594
Charge for the year 183 95,691 6,644 102,518
On disposals - (7,200) - (7,200)
At 31 May 2023 183 329,339 26,390 355,912
Net book value
At 31 May 2023 550 453,927 30,267 484,744
At 31 May 2022 - 375,558 32,261 407,819
4 Debtors 2023 2022
£ £
Trade debtors 126,648 71,313
Other debtors 32,586 21,673
159,234 92,986
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 16,710 16,630
Trade creditors 60,543 82,629
Accruals 4,000 4,000
Taxation and social security costs 315,402 243,917
Other creditors 48,538 (11,365)
445,193 335,811
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 29,997 40,000
Other creditors 18,344 23,691
48,341 63,691
7 Events after the reporting date
There have been no known events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
8 Pension commitments
There are no known pension commitments which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
9 Contingent liabilities
There are no known contingent liabilities which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr B Perks
Directors loan account 116,865 99,567 (170,077) 46,355
Mr L Worster
Directors loan account (2,187) 2,187 - -
114,678 101,754 (170,077) 46,355
11 Related party transactions
Dividends of £0 were paid during the year to any shareholders of the company. As at the year end the directors owed £46,355 (£114,678 2022) to the company. The loan is subject to interest at 2% with no fixed date for repayment.
12 Controlling party
The company is under the control of Mr B Perks, being director and majority shareholder of the company.
13 Other information
Brutus Scaffolding Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Dairy Farm
Upper Stowe
Weedon
Northants
NN7 4SH
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