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Company registration number: 07084507
Cheshire East Scaffolding Limited
Unaudited filleted financial statements
30 November 2023
Cheshire East Scaffolding Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Cheshire East Scaffolding Limited
Directors and other information
Directors Mrs Amanda Broomhall
Mr Darren Broomhall
Mr Matthew Broomhall
Company number 07084507
Registered office The Courtyard
Grosvenor Street
Crewe
Cheshire
CW1 3HJ
Business address The Courtyard
Grosvenor Street
Crewe
Cheshire
CW1 3HJ
Accountants Everyday Accounting (Cheshire) Limited
3B Crewe Road
Alsager
Stoke-on-Trent
Staffordshire
ST7 2EW
Bankers Barclays Bank plc
38 Market Street
Crewe
Cheshire
CW1 2ET
Cheshire East Scaffolding Limited
Statement of financial position
30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 569,015 545,944
_______ _______
569,015 545,944
Current assets
Stocks 45,106 55,106
Debtors 6 177,768 237,291
Cash at bank and in hand 11 11
_______ _______
222,885 292,408
Creditors: amounts falling due
within one year 7 ( 396,501) ( 369,366)
_______ _______
Net current liabilities ( 173,616) ( 76,958)
_______ _______
Total assets less current liabilities 395,399 468,986
Creditors: amounts falling due
after more than one year 8 ( 228,413) ( 299,099)
Provisions for liabilities ( 118,315) ( 110,516)
_______ _______
Net assets 48,671 59,371
_______ _______
Capital and reserves
Called up share capital 3 3
Profit and loss account 48,668 59,368
_______ _______
Shareholders funds 48,671 59,371
_______ _______
For the 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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mrs Amanda Broomhall
Director
Company registration number: 07084507
Cheshire East Scaffolding Limited
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Courtyard, Grosvenor Street, Crewe, Cheshire, CW1 3HJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 25 % reducing balance
Office equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2022: 21 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Office equipment Total
£ £ £ £ £
Cost
At 1 December 2022 572,688 3,494 102,500 6,611 685,293
Additions 31,613 509 - - 32,122
Disposals - - - ( 940) ( 940)
_______ _______ _______ _______ _______
At 30 November 2023 604,301 4,003 102,500 5,671 716,475
_______ _______ _______ _______ _______
Depreciation
At 1 December 2022 112,425 1,498 22,300 3,126 139,349
Charge for the year 5,981 251 1,925 648 8,805
Disposals - - - ( 694) ( 694)
_______ _______ _______ _______ _______
At 30 November 2023 118,406 1,749 24,225 3,080 147,460
_______ _______ _______ _______ _______
Carrying amount
At 30 November 2023 485,895 2,254 78,275 2,591 569,015
_______ _______ _______ _______ _______
At 30 November 2022 460,263 1,996 80,200 3,485 545,944
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 162,564 212,152
Other debtors 15,204 25,139
_______ _______
177,768 237,291
_______ _______
The debtors above include the following amounts falling due after more than one year:
2023 2022
£ £
Deferred tax asset - 11,469
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 159,668 152,266
Trade creditors 50,536 51,805
Corporation tax 17,725 8,556
Social security and other taxes 21,493 58,732
Other creditors 147,079 98,007
_______ _______
396,501 369,366
_______ _______
Net obligations under finance leases and hire purchase contracts due in less than one year, included within other creditors, of £17,077 ( 2022 : £15,111 ) are secured on the assets concerned.
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 228,413 299,099
_______ _______
Net obligations under finance leases and hire purchase contracts due after more than one year, included within other creditors, of £18,417 ( 2022 : £32,269 ) are secured on the assets concerned.
9. Other financial commitments
At 30 November 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £ 41,142 (2022 : £ 34,547 ).At 30 November 2023, the company had total other financial commitments of £ 4,024 (2022 : £ 6,438 ).