Registered number
07200492
Rowlands Castle Scaffolding Limited
Filleted Accounts
31 March 2024
Rowlands Castle Scaffolding Limited
Registered number: 07200492
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 37,450 28,195
Current assets
Debtors 4 19,598 21,926
Cash at bank and in hand 16,341 8,919
35,939 30,845
Creditors: amounts falling due within one year 5 (28,975) (20,670)
Net current assets 6,964 10,175
Total assets less current liabilities 44,414 38,370
Creditors: amounts falling due after more than one year 6 (21,850) (22,682)
Provisions for liabilities (7,115) (5,357)
Net assets 15,449 10,331
Capital and reserves
Called up share capital 1 1
Profit and loss account 15,448 10,330
Shareholders' funds 15,449 10,331
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Dunstan
Director
Approved by the board on 27 June 2024
Rowlands Castle Scaffolding Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 16,795 50,118 66,913
Additions 3,606 17,500 21,106
At 31 March 2024 20,401 67,618 88,019
Depreciation
At 1 April 2023 16,369 22,349 38,718
Charge for the year 825 11,026 11,851
At 31 March 2024 17,194 33,375 50,569
Net book value
At 31 March 2024 3,207 34,243 37,450
At 31 March 2023 426 27,769 28,195
4 Debtors 2024 2023
£ £
Trade debtors 18,920 8,070
Other debtors 678 13,856
19,598 21,926
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,237 4,826
Obligations under finance lease and hire purchase contracts 3,766 3,766
Trade creditors 6,836 2,224
Taxation and social security costs 9,280 7,655
Other creditors 1,856 2,199
28,975 20,670
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,431 10,497
Obligations under finance lease and hire purchase contracts 8,419 12,185
21,850 22,682
7 Related party transactions
Included within other creditors is the amount of £1,856 (2023 - £1,509) owed to the director. This amount is undated, unsecured, interest free and repayable upon demand.
8 Controlling party
The controlling party is Mr M Dunstan, as the Director and shareholder.
9 Other information
Rowlands Castle Scaffolding Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
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