Scaffolding Supplies Limited 03869816 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the selling of scaffolding Digita Accounts Production Advanced 6.30.9574.0 true 03869816 2023-01-01 2023-12-31 03869816 2023-12-31 03869816 bus:Director1 1 2023-12-31 03869816 bus:Director2 1 2023-12-31 03869816 bus:Director3 1 2023-12-31 03869816 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-12-31 03869816 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-12-31 03869816 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2023-12-31 03869816 bus:OrdinaryShareClass4 bus:Non-cumulativeNon-redeemableShares 2023-12-31 03869816 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 03869816 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 03869816 core:CurrentFinancialInstruments 2023-12-31 03869816 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03869816 core:Non-currentFinancialInstruments 2023-12-31 03869816 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 03869816 core:FurnitureFittingsToolsEquipment 2023-12-31 03869816 core:LandBuildings 2023-12-31 03869816 core:MotorVehicles 2023-12-31 03869816 bus:SmallEntities 2023-01-01 2023-12-31 03869816 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03869816 bus:FullAccounts 2023-01-01 2023-12-31 03869816 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03869816 bus:RegisteredOffice 2023-01-01 2023-12-31 03869816 bus:Director1 2023-01-01 2023-12-31 03869816 bus:Director1 1 2023-01-01 2023-12-31 03869816 bus:Director2 2023-01-01 2023-12-31 03869816 bus:Director2 1 2023-01-01 2023-12-31 03869816 bus:Director3 2023-01-01 2023-12-31 03869816 bus:Director3 1 2023-01-01 2023-12-31 03869816 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-01-01 2023-12-31 03869816 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2023-01-01 2023-12-31 03869816 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2023-01-01 2023-12-31 03869816 bus:OrdinaryShareClass4 bus:Non-cumulativeNon-redeemableShares 2023-01-01 2023-12-31 03869816 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03869816 core:FurnitureFittings 2023-01-01 2023-12-31 03869816 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 03869816 core:LandBuildings 2023-01-01 2023-12-31 03869816 core:MotorVehicles 2023-01-01 2023-12-31 03869816 countries:UnitedKingdom 2023-01-01 2023-12-31 03869816 2022-12-31 03869816 bus:Director1 1 2022-12-31 03869816 bus:Director2 1 2022-12-31 03869816 bus:Director3 1 2022-12-31 03869816 core:FurnitureFittingsToolsEquipment 2022-12-31 03869816 core:LandBuildings 2022-12-31 03869816 core:MotorVehicles 2022-12-31 03869816 2022-01-01 2022-12-31 03869816 2022-12-31 03869816 bus:Director1 1 2022-12-31 03869816 bus:Director2 1 2022-12-31 03869816 bus:Director3 1 2022-12-31 03869816 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-12-31 03869816 bus:OrdinaryShareClass2 bus:Non-cumulativeNon-redeemableShares 2022-12-31 03869816 bus:OrdinaryShareClass3 bus:Non-cumulativeNon-redeemableShares 2022-12-31 03869816 bus:OrdinaryShareClass4 bus:Non-cumulativeNon-redeemableShares 2022-12-31 03869816 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 03869816 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 03869816 core:CurrentFinancialInstruments 2022-12-31 03869816 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03869816 core:Non-currentFinancialInstruments 2022-12-31 03869816 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 03869816 core:FurnitureFittingsToolsEquipment 2022-12-31 03869816 core:LandBuildings 2022-12-31 03869816 core:MotorVehicles 2022-12-31 03869816 bus:Director1 1 2022-01-01 2022-12-31 03869816 bus:Director2 1 2022-01-01 2022-12-31 03869816 bus:Director3 1 2022-01-01 2022-12-31 03869816 bus:Director1 1 2021-12-31 03869816 bus:Director2 1 2021-12-31 03869816 bus:Director3 1 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03869816

Scaffolding Supplies Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Scaffolding Supplies Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Scaffolding Supplies Limited

(Registration number: 03869816)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

699,485

772,420

Current assets

 

Stocks

5

750,000

785,000

Debtors

6

128,831

172,666

Cash at bank and in hand

 

70,712

104,416

 

949,543

1,062,082

Creditors: Amounts falling due within one year

7

(686,861)

(822,831)

Net current assets

 

262,682

239,251

Total assets less current liabilities

 

962,167

1,011,671

Creditors: Amounts falling due after more than one year

7

(245,760)

(385,472)

Provisions for liabilities

(71,811)

(58,463)

Net assets

 

644,596

567,736

Capital and reserves

 

Called up share capital

8

401

401

Retained earnings

644,195

567,335

Shareholders' funds

 

644,596

567,736

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 August 2024 and signed on its behalf by:
 

.........................................
Mr M Hardy
Director

 

Scaffolding Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 3
Manby Road
Immingham
DN40 2LL

These financial statements were authorised for issue by the Board on 21 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Scaffolding Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and Fittings

15% reducing balance & 25% straight line

Motor Vehicles

25% reducing balance

Freehold Land and Buildings

2% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 13 (2022 - 15).

 

Scaffolding Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

474,884

127,159

347,759

949,802

Additions

-

-

46,551

46,551

Disposals

-

-

(44,893)

(44,893)

At 31 December 2023

474,884

127,159

349,417

951,460

Depreciation

At 1 January 2023

47,937

63,885

65,560

177,382

Charge for the year

9,497

10,296

70,663

90,456

Eliminated on disposal

-

-

(15,863)

(15,863)

At 31 December 2023

57,434

74,181

120,360

251,975

Carrying amount

At 31 December 2023

417,450

52,978

229,057

699,485

At 31 December 2022

426,947

63,274

282,199

772,420

Included within the net book value of land and buildings above is £417,450 (2022 - £426,947) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Raw materials and consumables

750,000

785,000

 

Scaffolding Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

61,186

60,031

Prepayments

10,648

10,205

Other debtors

56,997

102,430

 

128,831

172,666

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

165,851

176,162

Trade creditors

 

440,075

622,804

Taxation and social security

 

59,819

6,161

Accruals and deferred income

 

8,250

7,425

Other creditors

 

12,866

10,279

 

686,861

822,831

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

245,760

385,472

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

101

101

101

101

Ordinary B of £1 each

100

100

100

100

Ordinary C of £1 each

100

100

100

100

Ordinary D of £1 each

100

100

100

100

 

401

401

401

401

 

Scaffolding Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

111,606

134,061

Other borrowings

134,154

251,411

245,760

385,472

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

44,189

54,500

Other borrowings

121,662

121,662

165,851

176,162

10

Related party transactions

Transactions with Directors

2023

At 1 January 2023
£

Advances to Director
£

Repayments by Director
£

At 31 December 2023
£

Mr M Hardy

Directors Loan Account

11,035

24,754

(35,789)

-

         
       

E L Hardy

Directors Loan Account

11,035

24,754

(35,789)

-

         
       

Mr Matthew Hardy

Directors Loan Account

51,882

17,462

(51,641)

17,704

         
       

 

2022

At 1 January 2022
£

Advances to Director
£

Repayments by Director
£

At 31 December 2022
£

Mr M Hardy

Directors Loan Account

1,362

23,041

(13,368)

11,035

         
       

E L Hardy

Directors Loan Account

1,362

23,041

(13,368)

11,035

         
       

Mr Matthew Hardy

Directors Loan Account

92

54,056

(2,266)

51,882