Sonic Scaffolding 2000 Limited 04578718 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is scaffold erection. Digita Accounts Production Advanced 6.30.9574.0 true false 04578718 2022-12-01 2023-11-30 04578718 2023-11-30 04578718 bus:OrdinaryShareClass1 2023-11-30 04578718 core:RetainedEarningsAccumulatedLosses 2023-11-30 04578718 core:ShareCapital 2023-11-30 04578718 core:CurrentFinancialInstruments 2023-11-30 04578718 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 04578718 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 04578718 core:FurnitureFittingsToolsEquipment 2023-11-30 04578718 core:MotorVehicles 2023-11-30 04578718 core:OtherPropertyPlantEquipment 2023-11-30 04578718 bus:SmallEntities 2022-12-01 2023-11-30 04578718 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 04578718 bus:AbridgedAccounts 2022-12-01 2023-11-30 04578718 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 04578718 bus:RegisteredOffice 2022-12-01 2023-11-30 04578718 bus:Director1 2022-12-01 2023-11-30 04578718 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 04578718 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04578718 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 04578718 core:MotorVehicles 2022-12-01 2023-11-30 04578718 core:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 04578718 core:PlantMachinery 2022-12-01 2023-11-30 04578718 1 2022-12-01 2023-11-30 04578718 countries:EnglandWales 2022-12-01 2023-11-30 04578718 2022-11-30 04578718 core:FurnitureFittingsToolsEquipment 2022-11-30 04578718 core:MotorVehicles 2022-11-30 04578718 core:OtherPropertyPlantEquipment 2022-11-30 04578718 2021-12-01 2022-11-30 04578718 2022-11-30 04578718 bus:OrdinaryShareClass1 2022-11-30 04578718 core:RetainedEarningsAccumulatedLosses 2022-11-30 04578718 core:ShareCapital 2022-11-30 04578718 core:CurrentFinancialInstruments 2022-11-30 04578718 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 04578718 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 04578718 core:FurnitureFittingsToolsEquipment 2022-11-30 04578718 core:MotorVehicles 2022-11-30 04578718 core:OtherPropertyPlantEquipment 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04578718

Sonic Scaffolding 2000 Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 November 2023

 

Sonic Scaffolding 2000 Limited

Contents

Abridged Statement of Financial Position

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 9

 

Sonic Scaffolding 2000 Limited

(Registration number: 04578718)
Abridged Statement of Financial Position as at 30 November 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

413,192

 

302,951

Current assets

   

 

Debtors

5

248,039

 

226,104

 

Cash at bank and in hand

 

84,176

 

856,287

 

 

332,215

 

1,082,391

 

Prepayments and accrued income

 

13,412

 

18,088

 

Creditors: Amounts falling due within one year

6

(222,243)

 

(134,432)

 

Net current assets

   

123,384

 

966,047

Total assets less current liabilities

   

536,576

 

1,268,998

Creditors: Amounts falling due after more than one year

7

 

(240,581)

 

-

Provisions for liabilities

 

(51,428)

 

(47,308)

Net assets

   

244,567

 

1,221,690

Capital and reserves

   

 

Called up share capital

2

 

2

 

Profit and loss account

244,565

 

1,221,688

 

Shareholders funds

   

244,567

 

1,221,690

 

Sonic Scaffolding 2000 Limited

(Registration number: 04578718)
Abridged Statement of Financial Position as at 30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) 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 Income Statement.

Approved and authorised by the director on 23 August 2024
 

.........................................
Mr R Eaton
Director

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wyndhams Dairy
High Post Road
Winterbourne Dauntsey
Salisbury
SP4 6HG

These financial statements were authorised for issue by the director on 23 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 abridged financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The presentation currency is (£) sterling.

Basis of preparation

These abridged 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.

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.

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

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.

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.

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

Motor vehicles

25% reducing balance

Fixtures and fittings

4 years straight line

Plant and machinery

15% reducing balance, plus 4 and 7 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

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 income statement 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

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Financial instruments


The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 21 (2022 - 19).

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

34,177

367,906

358,532

760,615

Additions

561

59,338

194,920

254,819

Disposals

-

(100,980)

-

(100,980)

At 30 November 2023

34,738

326,264

553,452

914,454

Depreciation

At 1 December 2022

22,741

208,028

226,895

457,664

Charge for the year

3,724

30,319

63,929

97,972

Eliminated on disposal

-

(54,374)

-

(54,374)

At 30 November 2023

26,465

183,973

290,824

501,262

Carrying amount

At 30 November 2023

8,273

142,291

262,628

413,192

At 30 November 2022

11,436

159,878

131,637

302,951

5

Debtors

2023
£

2022
£

Trade debtors

225,744

214,556

Other debtors

22,295

11,548

248,039

226,104

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

6

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

89,410

-

Trade creditors

 

73,386

83,812

Taxation and social security

 

18,569

21,842

Accruals and deferred income

 

25,028

3,393

Other creditors

 

15,850

25,385

 

222,243

134,432


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £56,699 (2022 - £0).

7

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

240,581

-


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £94,973 (2022 - £0).

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of guarantees not included in the statement of financial position is £933,750 (2022 - £Nil). Sonic Scaffolding 2000 Limited, along with it's parent company, Sebic Group Ltd, jointly approved a guarantee and debenture dated 9th March 2023 to Mr C White and Mrs K White. The debenture is an all assets debenture.

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

10

Parent and ultimate parent undertaking

Sonic Scaffolding 2000 Limited is owned and controlled by its parent company, Sebic Group Ltd
(Company No. 14339089).


 The company's immediate parent is Sebic Group Ltd, incorporated in England.