IRIS Accounts Production v24.1.9.2 SC268168 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2681682022-10-31SC2681682023-10-31SC2681682022-11-012023-10-31SC2681682021-10-31SC2681682021-11-012022-10-31SC2681682022-10-31SC268168ns15:Scotland2022-11-012023-10-31SC268168ns14:PoundSterling2022-11-012023-10-31SC268168ns10:Director12022-11-012023-10-31SC268168ns10:PrivateLimitedCompanyLtd2022-11-012023-10-31SC268168ns10:SmallEntities2022-11-012023-10-31SC268168ns10:AuditExemptWithAccountantsReport2022-11-012023-10-31SC268168ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-31SC268168ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-31SC268168ns10:FullAccounts2022-11-012023-10-31SC268168ns10:Director22022-11-012023-10-31SC268168ns10:RegisteredOffice2022-11-012023-10-31SC268168ns5:CurrentFinancialInstruments2023-10-31SC268168ns5:CurrentFinancialInstruments2022-10-31SC268168ns5:Non-currentFinancialInstruments2023-10-31SC268168ns5:Non-currentFinancialInstruments2022-10-31SC268168ns5:ShareCapital2023-10-31SC268168ns5:ShareCapital2022-10-31SC268168ns5:SharePremium2023-10-31SC268168ns5:SharePremium2022-10-31SC268168ns5:RetainedEarningsAccumulatedLosses2023-10-31SC268168ns5:RetainedEarningsAccumulatedLosses2022-10-31SC268168ns5:PlantMachinery2022-11-012023-10-31SC268168ns5:FurnitureFittings2022-11-012023-10-31SC268168ns5:MotorVehicles2022-11-012023-10-31SC268168ns5:ComputerEquipment2022-11-012023-10-31SC268168ns5:PlantMachinery2022-10-31SC268168ns5:FurnitureFittings2022-10-31SC268168ns5:MotorVehicles2022-10-31SC268168ns5:ComputerEquipment2022-10-31SC268168ns5:PlantMachinery2023-10-31SC268168ns5:FurnitureFittings2023-10-31SC268168ns5:MotorVehicles2023-10-31SC268168ns5:ComputerEquipment2023-10-31SC268168ns5:PlantMachinery2022-10-31SC268168ns5:FurnitureFittings2022-10-31SC268168ns5:MotorVehicles2022-10-31SC268168ns5:ComputerEquipment2022-10-31SC268168ns5:LeasedAssetsHeldAsLessee2022-11-012023-10-31SC268168ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-31SC268168ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31SC268168ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-10-31SC268168ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-10-31SC268168ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-10-31SC268168ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-10-31SC268168ns5:DeferredTaxation2022-10-31SC268168ns5:DeferredTaxation2022-11-012023-10-31SC268168ns5:DeferredTaxation2023-10-31
REGISTERED NUMBER: SC268168 (Scotland)















RDA SCAFFOLDING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






RDA SCAFFOLDING LTD (REGISTERED NUMBER: SC268168)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8

Chartered Accountants' Report 9

RDA SCAFFOLDING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Stuart George Fleming
Robert Wilson Aitken



REGISTERED OFFICE: Ashely Drive
Bothwell
Glasgow
G71 8BS



REGISTERED NUMBER: SC268168 (Scotland)



ACCOUNTANTS: Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA



BANKERS: Royal Bank of Scotland plc
Glasgow City Branch
10 Gordon Street
Glasgow
G1 3PL

RDA SCAFFOLDING LTD (REGISTERED NUMBER: SC268168)

BALANCE SHEET
31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,287,855 1,532,468

CURRENT ASSETS
Debtors 5 678,849 653,630
Cash at bank and in hand 94,514 49,041
773,363 702,671
CREDITORS
Amounts falling due within one year 6 784,726 700,972
NET CURRENT (LIABILITIES)/ASSETS (11,363 ) 1,699
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,276,492

1,534,167

CREDITORS
Amounts falling due after more than one
year

7

(371,954

)

(568,079

)

PROVISIONS FOR LIABILITIES 9 (306,337 ) (213,611 )
NET ASSETS 598,201 752,477

CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Share premium 45,800 45,800
Retained earnings 482,401 636,677
SHAREHOLDERS' FUNDS 598,201 752,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RDA SCAFFOLDING LTD (REGISTERED NUMBER: SC268168)

BALANCE SHEET - continued
31 OCTOBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





Robert Wilson Aitken - Director


RDA SCAFFOLDING LTD (REGISTERED NUMBER: SC268168)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

RDA Scaffolding Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The nature of the Company's operations and its principal activities are set out in the Directors Report on page 2.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to be sold, or where stock is sold post year end at a loss.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Consideration is given to the point at which the company is entitled to receive the income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost and 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

RDA SCAFFOLDING LTD (REGISTERED NUMBER: SC268168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Research and development
Expenditure on research activities is recognised in the income statement as an expense as incurred.

Expenditure on development activities is capitalised if the product or process is technically and commercially feasible and the Company intends to and has the technical ability and sufficient resources to complete development, future economic benefits are probable and if the Company can measure reliably the expenditure attributable to the intangible asset during its development. Development activities improve a plan or design for the production of new or substantially improved products or processes. The expenditure capitalised includes the cost of materials, direct labour and an appropriate proportion of overheads and capitalised borrowing costs. Other development expenditure is recognised in the income statement as an expense as incurred. Capitalised development expenditure is stated at cost less accumulated amortisation and less accumulated impairment losses

Leases
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

RDA SCAFFOLDING LTD (REGISTERED NUMBER: SC268168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 90 (2022 - 92 ) .

RDA SCAFFOLDING LTD (REGISTERED NUMBER: SC268168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 3,714,182 17,275 437,163 82,039 4,250,659
Additions 14,198 250 - 751 15,199
At 31 October 2023 3,728,380 17,525 437,163 82,790 4,265,858
DEPRECIATION
At 1 November 2022 2,281,469 10,642 358,495 67,585 2,718,191
Charge for year 229,696 2,623 21,083 6,410 259,812
At 31 October 2023 2,511,165 13,265 379,578 73,995 2,978,003
NET BOOK VALUE
At 31 October 2023 1,217,215 4,260 57,585 8,795 1,287,855
At 31 October 2022 1,432,713 6,633 78,668 14,454 1,532,468

The net book value of tangible fixed assets includes £720,335 (2020 - £1,059,736) of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 569,897 591,464
Other debtors 7,808 9,743
Prepayments 22,632 26,221
Owed from associated company 78,512 26,202
678,849 653,630

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Bank loans and overdrafts 128,203 118,593
Hire purchase contracts 155,974 262,036
Trade creditors 69,207 76,597
Corporation tax 13,891 -
Social security and other taxes 49,459 57,281
Value Added Tax 18,334 3,366
Factoring advances 150,447 117,059
Accrued expenses 199,211 66,040
784,726 700,972

RDA SCAFFOLDING LTD (REGISTERED NUMBER: SC268168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/23 31/10/22
£    £   
Bank loans - 1-2 years 137,814 128,203
Bank loans - 2-5 years 23,236 161,050
Hire purchase contracts 210,904 278,826
371,954 568,079

8. SECURED DEBTS

The following secured debts are included within creditors:

31/10/23 31/10/22
£    £   
Hire purchase contracts 366,878 540,862

Amounts due under hire purchase contracts are secured over the individual assets concerned.

The factoring advances are secured over the debtors to which they relate.

9. PROVISIONS FOR LIABILITIES
31/10/23 31/10/22
£    £   
Deferred tax 306,337 213,611

Deferred
tax
£   
Balance at 1 November 2022 213,611
Charge to Statement of Income and Retained Earnings during year 92,726
Accelerated capital allowances
Balance at 31 October 2023 306,337

10. RELATED PARTY DISCLOSURES

A management charge of £60,000 has been received from RDA (Access & Roofing) Limited, a company under common control.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of RDA Scaffolding Limited is Robert Aitken.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RDA SCAFFOLDING LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RDA Scaffolding Ltd for the year ended 31 October 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of RDA Scaffolding Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of RDA Scaffolding Ltd and state those matters that we have agreed to state to the Board of Directors of RDA Scaffolding Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that RDA Scaffolding Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of RDA Scaffolding Ltd. You consider that RDA Scaffolding Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of RDA Scaffolding Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA


24 July 2024