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Registered number: 14135601
P.A.V Complete Scaffolding Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
TaxAssist Barnstaple
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14135601
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 117,529 58,602
117,529 58,602
CURRENT ASSETS
Debtors 5 9,430 17,657
Cash at bank and in hand 2 3,934
9,432 21,591
Creditors: Amounts Falling Due Within One Year 6 (44,099 ) (20,125 )
NET CURRENT ASSETS (LIABILITIES) (34,667 ) 1,466
TOTAL ASSETS LESS CURRENT LIABILITIES 82,862 60,068
Creditors: Amounts Falling Due After More Than One Year 7 (33,506 ) (29,701 )
NET ASSETS 49,356 30,367
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 49,355 30,366
SHAREHOLDERS' FUNDS 49,356 30,367
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Shane Hookway
Director
20/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
P.A.V Complete Scaffolding Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14135601 . The registered office is 7 Roberts Field, North Molton, South Molton, EX36 3HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 54,003 19,617 857 74,477
Additions 61,074 36,900 - 97,974
Disposals - (9,167 ) - (9,167 )
As at 31 May 2024 115,077 47,350 857 163,284
Depreciation
As at 1 June 2023 10,799 4,905 171 15,875
Provided during the period 20,851 11,185 136 32,172
Disposals - (2,292 ) - (2,292 )
As at 31 May 2024 31,650 13,798 307 45,755
Net Book Value
As at 31 May 2024 83,427 33,552 550 117,529
As at 1 June 2023 43,204 14,712 686 58,602
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,220 1,520
Prepayments and accrued income - 375
Other debtors 5,474 3,359
VAT 1,736 6,556
Director's loan account - 5,847
9,430 17,657
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,475 -
Trade creditors 5,386 91
Bank loans and overdrafts 30,887 18,804
Accruals and deferred income 1,300 1,230
Director's loan account 51 -
44,099 20,125
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,281 -
Bank loans 9,225 29,701
33,506 29,701
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,475 -
Later than one year and not later than five years 24,281 -
30,756 -
30,756 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Shane Hookway 5,846 - - - -
The above loan is unsecured, interest free and repayable on demand.
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