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REGISTERED NUMBER: 03027234 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

OWEN SCAFFOLD CONTRACTORS LIMITED

OWEN SCAFFOLD CONTRACTORS LIMITED (REGISTERED NUMBER: 03027234)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OWEN SCAFFOLD CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: E M Owen
W H Dixon
C Ewing
J Murphy
C Bishop
J Owen
M Halpin
M Owen





SECRETARY: C Ewing





REGISTERED OFFICE: Tudor Close
Polegate Road
Hailsham
East Sussex
BN27 3PG





REGISTERED NUMBER: 03027234 (England and Wales)





ACCOUNTANTS: LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE

OWEN SCAFFOLD CONTRACTORS LIMITED (REGISTERED NUMBER: 03027234)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,000,719 2,477,611

CURRENT ASSETS
Debtors 5 1,586,061 1,640,028
Cash at bank 1,184,587 921,448
2,770,648 2,561,476
CREDITORS
Amounts falling due within one year 6 797,893 702,189
NET CURRENT ASSETS 1,972,755 1,859,287
TOTAL ASSETS LESS CURRENT LIABILITIES 3,973,474 4,336,898

CREDITORS
Amounts falling due after more than one
year

7

(93,474

)

(119,903

)

PROVISIONS FOR LIABILITIES (346,102 ) (434,035 )
NET ASSETS 3,533,898 3,782,960

OWEN SCAFFOLD CONTRACTORS LIMITED (REGISTERED NUMBER: 03027234)

BALANCE SHEET - continued
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 2,016 2,016
Share premium 6,522 6,522
Retained earnings 3,525,360 3,774,422
SHAREHOLDERS' FUNDS 3,533,898 3,782,960

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 July 2024 and were signed on its behalf by:





E M Owen - Director


OWEN SCAFFOLD CONTRACTORS LIMITED (REGISTERED NUMBER: 03027234)

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

1. STATUTORY INFORMATION

Owen Scaffold Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover comprises increases in valuations on contracts and services provided, and excludes valued added tax. The directors consider that all turnover may properly be classified as arising from a single class of continuing activity.The Company operates in the United Kingdom.

Interest income is recognised when received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 50% on cost, 25% on reducing balance, 25% on cost, 10% on cost, Straight line over 15 years and Over 18 months

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

OWEN SCAFFOLD CONTRACTORS LIMITED (REGISTERED NUMBER: 03027234)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2022 - 64 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 4,437,555
Additions 320,471
Disposals (88,053 )
At 31 October 2023 4,669,973
DEPRECIATION
At 1 November 2022 1,959,944
Charge for year 783,644
Eliminated on disposal (74,334 )
At 31 October 2023 2,669,254
NET BOOK VALUE
At 31 October 2023 2,000,719
At 31 October 2022 2,477,611

OWEN SCAFFOLD CONTRACTORS LIMITED (REGISTERED NUMBER: 03027234)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022 486,166
Transfer to ownership (290,023 )
At 31 October 2023 196,143
DEPRECIATION
At 1 November 2022 103,746
Charge for year 49,035
Transfer to ownership (74,768 )
At 31 October 2023 78,013
NET BOOK VALUE
At 31 October 2023 118,130
At 31 October 2022 382,420

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,321,722 1,252,744
Other debtors 264,339 387,284
1,586,061 1,640,028

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 32,295 89,276
Trade creditors 245,392 132,362
Taxation and social security 346,987 249,347
Other creditors 173,219 231,204
797,893 702,189

OWEN SCAFFOLD CONTRACTORS LIMITED (REGISTERED NUMBER: 03027234)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 93,474 119,903

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,998 A Ordinary £1 1,998 1,998
5 B Ordinary £1 5 5
5 C Ordinary £1 5 5
1 D Ordinary £1 1 1
1 E Ordinary £1 1 1
1 F Ordinary £1 1 1
1 G Ordinary £1 1 1
1 H Ordinary £1 1 1
1 I Ordinary £1 1 1
1 J Ordinary £1 1 1
1 K Ordinary £1 1 1
2,016 2,016

9. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling parties during the year under review were Mr E Owen and Mr W Dixon by virtue of their majority holdings in the company.