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No description of principal activities is disclosed
2022-10-13
Sage Accounts Production 23.0 - FRS102_2023
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14416873
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Company registration number:
14416873
Ridge Scaffolding Company Ltd
Unaudited filleted financial statements
31 March 2024
Ridge Scaffolding Company Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Ridge Scaffolding Company Ltd
Directors and other information
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Directors |
Mr D Goldhawk |
(Appointed 13 October 2022) |
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Mr L Spink |
(Appointed 13 October 2022) |
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Company number |
14416873 |
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Registered office |
Vaughan Chambers |
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Vaughan Road |
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Harpenden |
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AL5 4EE |
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Accountants |
Hicks and Company |
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Chartered Accountants |
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Vaughan Chambers |
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Vaughan Road |
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Harpenden |
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AL5 4EE |
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Ridge Scaffolding Company Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Ridge Scaffolding Company Ltd
Period ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ridge Scaffolding Company Ltd for the period ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Ridge Scaffolding Company Ltd, as a body, in accordance with the terms of our engagement letter dated 31 October 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Ridge Scaffolding Company Ltd and state those matters that we have agreed to state to the board of directors of Ridge Scaffolding Company Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ridge Scaffolding Company Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Ridge Scaffolding Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ridge Scaffolding Company Ltd. You consider that Ridge Scaffolding Company Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Ridge Scaffolding Company Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
5 August 2024
Ridge Scaffolding Company Ltd
Statement of financial position
31 March 2024
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31/03/24 |
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Note |
£ |
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£ |
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Fixed assets |
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Tangible assets |
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4 |
94,124 |
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_______ |
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94,124 |
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Current assets |
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Debtors |
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5 |
50,590 |
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Cash at bank and in hand |
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14,945 |
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_______ |
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65,535 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
138,947) |
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_______ |
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Net current liabilities |
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(
73,412) |
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_______ |
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Total assets less current liabilities |
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20,712 |
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_______ |
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Net assets |
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20,712 |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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Profit and loss account |
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20,612 |
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_______ |
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Shareholders funds |
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20,712 |
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_______ |
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For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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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 income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
05 August 2024
, and are signed on behalf of the board by:
Mr D Goldhawk
Director
Company registration number:
14416873
Ridge Scaffolding Company Ltd
Notes to the financial statements
Period ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, AL5 4EE.
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 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
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Motor vehicles |
- |
20 % |
reducing balance |
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Plant and Machinery |
- |
20 % |
reducing balance |
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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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
4.
Tangible assets
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Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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Cost |
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At 13 October 2022 |
- |
- |
- |
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Additions |
95,780 |
31,000 |
126,780 |
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_______ |
_______ |
_______ |
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At 31 March 2024 |
95,780 |
31,000 |
126,780 |
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_______ |
_______ |
_______ |
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Depreciation |
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At 13 October 2022 |
- |
- |
- |
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Charge for the year |
26,456 |
6,200 |
32,656 |
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_______ |
_______ |
_______ |
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At 31 March 2024 |
26,456 |
6,200 |
32,656 |
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_______ |
_______ |
_______ |
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Carrying amount |
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At 31 March 2024 |
69,324 |
24,800 |
94,124 |
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_______ |
_______ |
_______ |
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5.
Debtors
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31/03/24 |
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£ |
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Trade debtors |
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5,220 |
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Other debtors |
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45,370 |
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_______ |
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50,590 |
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_______ |
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6.
Creditors: amounts falling due within one year
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31/03/24 |
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£ |
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Social security and other taxes |
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9,876 |
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Other creditors |
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129,071 |
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_______ |
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138,947 |
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_______ |
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7.
Directors advances, credits and guarantees
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During the period the directors entered into the following advances and credits with the company: |
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Period ended 31/03/24 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr L Spink |
- |
(
100,106) |
(
100,106) |
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_______ |
_______ |
_______ |
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8.
Related party transactions
During the period ended 31 March 2024, the company sold goods and services with a value of £90,030 to Goldhawk Lofts Ltd, a company in which
Mr D Goldhawk
is a director and shareholder. The company also received a loan from Goldhawk Lofts Ltd of £26,815. At 31 March 2024, there was a balance due to Goldhawk Lofts Ltd of £26,815.During the period ended 31 March 2024, the company provided a loan of £26,550 to Black Horse Hospitality Ltd, a company in which Mr D Goldhawk
and Mr L Spink
are directors and shareholders. At 31 March 2024 there was a balance due from Black Horse Hospitality Ltd of £26,550.