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Company Registration No. 10420782 (England and Wales)
DRN Scaffolding Limited Unaudited accounts for the year ended 31 October 2023
DRN Scaffolding Limited Unaudited accounts Contents
Page
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DRN Scaffolding Limited Company Information for the year ended 31 October 2023
Director
Jordan Naraine
Company Number
10420782 (England and Wales)
Registered Office
10 West Avenue Wallington Surrey SM6 8PH England
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DRN Scaffolding Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
506,632 
391,930 
Current assets
Debtors
270,439 
336,261 
Cash at bank and in hand
596 
6,689 
271,035 
342,950 
Creditors: amounts falling due within one year
(478,793)
(370,632)
Net current liabilities
(207,758)
(27,682)
Total assets less current liabilities
298,874 
364,248 
Creditors: amounts falling due after more than one year
(124,060)
(168,273)
Provisions for liabilities
Deferred tax
(96,260)
(68,153)
Net assets
78,554 
127,822 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
78,454 
127,722 
Shareholders' funds
78,554 
127,822 
For the year ending 31 October 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 20 July 2024 and were signed on its behalf by
Jordan Naraine Director Company Registration No. 10420782
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DRN Scaffolding Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
DRN Scaffolding Limited is a private company, limited by shares, registered in England and Wales, registration number 10420782. The registered office is 10 West Avenue, , Wallington, Surrey, SM6 8PH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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 accounts.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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
10% straight line
Motor vehicles
25% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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DRN Scaffolding Limited Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
392,494 
93,500 
485,994 
Additions
193,869 
34,296 
228,165 
Disposals
(50,729)
- 
(50,729)
At 31 October 2023
535,634 
127,796 
663,430 
Depreciation
At 1 November 2022
62,662 
31,402 
94,064 
Charge for the year
53,563 
24,098 
77,661 
On disposals
(14,927)
- 
(14,927)
At 31 October 2023
101,298 
55,500 
156,798 
Net book value
At 31 October 2023
434,336 
72,296 
506,632 
At 31 October 2022
329,832 
62,098 
391,930 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
2,456 
- 
Trade debtors
114,494 
87,364 
Accrued income and prepayments
53,017 
92,869 
Other debtors
100,472 
156,028 
270,439 
336,261 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,783 
10,783 
Obligations under finance leases and hire purchase contracts
61,044 
54,762 
Trade creditors
107,427 
84,292 
Other creditors
208,449 
150,279 
Loans from directors
3,309 
6,373 
Accruals
51,277 
6,643 
Deferred income
36,504 
57,500 
478,793 
370,632 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
24,587 
34,330 
Obligations under finance leases and hire purchase contracts
99,473 
133,943 
124,060 
168,273 
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DRN Scaffolding Limited Notes to the Accounts for the year ended 31 October 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 October 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
53,556 
55,869 
Later than one year and not later than five years
55,773 
156,199 
109,329 
212,068 
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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