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REGISTERED NUMBER: 10601868 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Pro Spec Scaffolding Ltd

Pro Spec Scaffolding Ltd (Registered number: 10601868)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pro Spec Scaffolding Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: S Jenkins





REGISTERED OFFICE: 43 Tollerton Drive
Sunderland
SR5 3DQ





REGISTERED NUMBER: 10601868 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

Pro Spec Scaffolding Ltd (Registered number: 10601868)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 48,679 19,286

CURRENT ASSETS
Debtors 5 14,922 36,459
Cash at bank - 37,613
14,922 74,072
CREDITORS
Amounts falling due within one year 6 (45,064 ) (40,961 )
NET CURRENT (LIABILITIES)/ASSETS (30,142 ) 33,111
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,537

52,397

CREDITORS
Amounts falling due after more than one year 7 (16,579 ) (29,940 )
NET ASSETS 1,958 22,457

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,858 22,357
1,958 22,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Pro Spec Scaffolding Ltd (Registered number: 10601868)

Balance Sheet - continued
29 February 2024


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 director and authorised for issue on 21 August 2024 and were signed by:





S Jenkins - Director


Pro Spec Scaffolding Ltd (Registered number: 10601868)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Pro Spec Scaffolding Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 33% on cost

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Pro Spec Scaffolding Ltd (Registered number: 10601868)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

GOING CONCERN NOTE
The financial statements have been prepared on a going concern basis, the director believes this assumption to be appropriate based on the continuing financial support of the company`s director and loan provider.

If the going concern basis was not appropriate, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 8,682 6,080 33,523 865 49,150
Additions 40,479 624 5,700 1,157 47,960
Disposals - - (14,823 ) - (14,823 )
At 29 February 2024 49,161 6,704 24,400 2,022 82,287
DEPRECIATION
At 1 March 2023 1,977 6,080 21,620 187 29,864
Charge for year 11,649 156 5,495 314 17,614
Eliminated on disposal - - (13,870 ) - (13,870 )
At 29 February 2024 13,626 6,236 13,245 501 33,608
NET BOOK VALUE
At 29 February 2024 35,535 468 11,155 1,521 48,679
At 28 February 2023 6,705 - 11,903 678 19,286

Included in tangible fixed assets are items held under hire purchase with a net book value of £6,048 (2023: £9,028).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,991 36,254
Other debtors - 205
VAT 931 -
14,922 36,459

Pro Spec Scaffolding Ltd (Registered number: 10601868)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 14,567 9,928
Hire purchase contracts 3,179 3,179
Trade creditors 17,298 5,927
Corporation tax 7,853 12,954
Social security and other tax - 191
VAT - 6,675
Other creditors - 81
Directors' current accounts 342 335
Accrued expenses 1,825 1,691
45,064 40,961

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 13,224 23,405
Hire purchase contracts 3,355 6,535
16,579 29,940

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 4,386 -
Bounce Back Loan less than 1yr 10,181 9,928
14,567 9,928

Amounts falling due between two and five years:
Bounce Back Loan 2 to 5 year 13,224 23,405

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 6,534 9,714