Registered number
13566745
Exonia Scaffolding Ltd
Unaudited Filleted Accounts
31 August 2023
Exonia Scaffolding Ltd
Registered number: 13566745
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 221,113 98,894
Current assets
Debtors 4 270,079 122,242
Cash at bank and in hand 37,500 27,282
307,579 149,524
Creditors: amounts falling due within one year 5 (81,661) (35,950)
Net current assets 225,918 113,574
Total assets less current liabilities 447,031 212,468
Creditors: amounts falling due after more than one year 6 (131,249) (63,917)
Provisions for liabilities (55,278) (18,790)
Net assets 260,504 129,761
Capital and reserves
Called up share capital 2 2
Profit and loss account 260,502 129,759
Shareholders' funds 260,504 129,761
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 R Crocker
Director
Approved by the board on 25 January 2024
Exonia Scaffolding Ltd
Notes to the Accounts
for the year ended 31 August 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). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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:
Plant and machinery 20% Reducing balance
Motor Vehicles 20% Reducing balance
Debtors and creditors receivable/payable within one year
Debtors and Creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 123,617 - 123,617
Additions 9,958 167,540 177,498
At 31 August 2023 133,575 167,540 301,115
Depreciation
At 1 September 2022 24,723 - 24,723
Charge for the year 21,771 33,508 55,279
At 31 August 2023 46,494 33,508 80,002
Net book value
At 31 August 2023 87,081 134,032 221,113
At 31 August 2022 98,894 - 98,894
4 Debtors 2023 2022
£ £
Trade debtors 22,120 19,880
Other debtors 247,959 102,362
270,079 122,242
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 21,504 -
Trade creditors 618 18
Taxation and social security costs 28,698 11,932
Other creditors 30,841 24,000
81,661 35,950
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 97,832 -
Other creditors 33,417 63,917
131,249 63,917
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director
Interest charged at HMRC's official rate, repayable on demand (15,528) (77,310) 51,233 (41,605)
Director
Interest charged at HMRC's official rate, repayable on demand (29,139) (74,501) 50,982 (52,658)
(44,667) (151,811) 102,215 (94,263)
8 Other information
Exonia Scaffolding Ltd is a private company limited by shares and incorporated in England. Its registered office is:
60 Langaton Lane
Exeter
Devon
EX1 3SL
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