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REGISTERED NUMBER: 10833407 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 November 2023

for

MTS Scaffolding Ltd

MTS Scaffolding Ltd (Registered number: 10833407)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MTS Scaffolding Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Ms N L Lake
Mr M Scriven





REGISTERED OFFICE: Units 2a Longhope Business Park
Monmouth Road
Longhope
Gloucestershire
GL17 0QZ





REGISTERED NUMBER: 10833407 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

MTS Scaffolding Ltd (Registered number: 10833407)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 306,227 225,134

CURRENT ASSETS
Stocks 23,000 39,000
Debtors 5 185,387 142,771
Cash in hand 200 200
208,587 181,971
CREDITORS
Amounts falling due within one year 6 (208,271 ) (132,361 )
NET CURRENT ASSETS 316 49,610
TOTAL ASSETS LESS CURRENT LIABILITIES 306,543 274,744

CREDITORS
Amounts falling due after more than one year 7 (87,489 ) (18,243 )

PROVISIONS FOR LIABILITIES (56,398 ) (40,877 )
NET ASSETS 162,656 215,624

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 162,556 215,524
SHAREHOLDERS' FUNDS 162,656 215,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MTS Scaffolding Ltd (Registered number: 10833407)

Balance Sheet - continued
30 November 2023


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 Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





Ms N L Lake - Director


MTS Scaffolding Ltd (Registered number: 10833407)

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

1. STATUTORY INFORMATION

MTS 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

MTS Scaffolding Ltd (Registered number: 10833407)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 267,200 10,795 2,838 280,833
Additions 127,725 - - 127,725
At 30 November 2023 394,925 10,795 2,838 408,558
DEPRECIATION
At 1 December 2022 53,456 960 1,283 55,699
Charge for year 43,404 2,459 769 46,632
At 30 November 2023 96,860 3,419 2,052 102,331
NET BOOK VALUE
At 30 November 2023 298,065 7,376 786 306,227
At 30 November 2022 213,744 9,835 1,555 225,134

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 December 2022 12,950
Additions 108,597
At 30 November 2023 121,547
DEPRECIATION
At 1 December 2022 3,456
Charge for year 11,308
At 30 November 2023 14,764
NET BOOK VALUE
At 30 November 2023 106,783
At 30 November 2022 9,494

MTS Scaffolding Ltd (Registered number: 10833407)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 36,776 63,486
Amounts owed by group undertakings 145,445 63,735
Tax 2,641 -
Prepayments 525 15,550
185,387 142,771

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 12,559 15,116
Other loans 73,937 12,624
Hire purchase contracts 22,242 3,887
Trade creditors 58,252 42,293
Tax 3,380 3,380
Social security and other taxes 3,994 8,465
VAT 7,691 34,989
Other creditors 10,355 8,924
Directors' current accounts 14,391 883
Accrued expenses 1,470 1,800
208,271 132,361

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 7,000 7,000
Bank loans - 2-5 years 3,500 10,500
Hire purchase contracts 76,989 743
87,489 18,243

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 17,500 24,500
Other loans 73,937 -
Hire purchase contracts 99,231 4,630
190,668 29,130

Hire purchase contracts are secured by hired charges over the assets indicated in note 6.

'Bank loans' relate to a Bounce Back Loan with Lloyds. The government has provided security for the full loan amount.

Other Loans relate to business loans from Swiftfund and IWOCA .These are under personal guarantee by the directors.

MTS Scaffolding Ltd (Registered number: 10833407)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 December 2022 215,524
Profit for the year 52,032
Dividends (105,000 )
At 30 November 2023 162,556

11. RELATED PARTY DISCLOSURES

At the year-end date £145,445 (2022 - £63,735 credit) was owed by related parties. No interest is being charged on this loan.