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
DRN Scaffolding Limited
Company Information
for the year ended 31 October 2023
Company Number
10420782 (England and Wales)
Registered Office
10 West Avenue
Wallington
Surrey
SM6 8PH
England
DRN Scaffolding Limited
Statement of financial position
as at 31 October 2023
Tangible assets
506,632
391,930
Cash at bank and in hand
596
6,689
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)
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
DRN Scaffolding Limited
Notes to the Accounts
for the year ended 31 October 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
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.
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
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
At 31 October 2023
434,336
72,296
506,632
At 31 October 2022
329,832
62,098
391,930
Amounts falling due within one year
Trade debtors
114,494
87,364
Accrued income and prepayments
53,017
92,869
Other debtors
100,472
156,028
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
Deferred income
36,504
57,500
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
99,473
133,943
DRN Scaffolding Limited
Notes to the Accounts
for the year ended 31 October 2023
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
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).