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COMPANY REGISTRATION NUMBER: 04587845
CLARKE BROTHERS SCAFFOLDING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
CLARKE BROTHERS SCAFFOLDING LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
5
64,285
84,697
CURRENT ASSETS
Debtors
6
229,637
207,791
Cash at bank and in hand
379,771
297,555
---------
---------
609,408
505,346
CREDITORS: amounts falling due within one year
7
174,250
102,438
---------
---------
NET CURRENT ASSETS
435,158
402,908
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
499,443
487,605
PROVISIONS
16,071
21,174
---------
---------
NET ASSETS
483,372
466,431
---------
---------
CAPITAL AND RESERVES
Called up share capital
8
4
4
Profit and loss account
483,368
466,427
---------
---------
SHAREHOLDERS FUNDS
483,372
466,431
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CLARKE BROTHERS SCAFFOLDING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 7 August 2024 , and are signed on behalf of the board by:
R W Clarke
Director
Company registration number: 04587845
CLARKE BROTHERS SCAFFOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6a Dean Road Industrial Estate, Avonmouth, Bristol, BS11 8AT.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property
-
10% straight line
Plant & Equipment
-
20% straight line
Fixtures & Equipment
-
20% straight line
Motor Vehicles
-
25% reducing balance
Office Equipment
-
25 % straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 19 (2023: 17 ).
5. TANGIBLE ASSETS
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
14,248
27,729
1,925
366,813
23,185
433,900
Additions
1,389
1,389
--------
--------
-------
---------
--------
---------
At 31 Mar 2024
14,248
27,729
1,925
366,813
24,574
435,289
--------
--------
-------
---------
--------
---------
Depreciation
At 1 Apr 2023
12,660
27,651
1,925
284,017
22,950
349,203
Charge for the year
788
78
20,701
234
21,801
--------
--------
-------
---------
--------
---------
At 31 Mar 2024
13,448
27,729
1,925
304,718
23,184
371,004
--------
--------
-------
---------
--------
---------
Carrying amount
At 31 Mar 2024
800
62,095
1,390
64,285
--------
--------
-------
---------
--------
---------
At 31 Mar 2023
1,588
78
82,796
235
84,697
--------
--------
-------
---------
--------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
195,875
165,990
Other debtors
33,762
41,801
---------
---------
229,637
207,791
---------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
7,005
4,854
Corporation tax
94,565
29,945
Social security and other taxes
42,079
36,284
Net wages
7,187
7,816
Other creditors
23,414
23,539
---------
---------
174,250
102,438
---------
---------
8. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
4
4
4
4
----
----
----
----
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
42,353
42,353
Later than 1 year and not later than 5 years
41,240
83,593
--------
---------
83,593
125,946
--------
---------
10. RELATED PARTY TRANSACTIONS
A dividend of £251,000 was paid to both R Clarke and W Morgan during the year. At the balance sheet date there was an outstanding balance of £12,701 (2023: £9,406) due to the company in respect of a loan to Mrs S Studley, the mother of the directors.