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Registration number: 03505609

Landmark Scaffolding Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Landmark Scaffolding Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Landmark Scaffolding Limited

Company Information

Director

Mr D S Sheldrake

Company secretary

Mrs N Sheldrake

Registered office

7 Laureate Paddocks
Newmarket
Suffolk
CB8 0AP

Accountants

N W Accountancy Limited
7 Laureate Paddocks
Newmarket
Suffolk
CB8 0AP

 

Landmark Scaffolding Limited

(Registration number: 03505609)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

361,684

417,221

Current assets

 

Stocks

5

-

2,512

Debtors

6

377,360

523,504

Cash at bank and in hand

 

89,901

67,853

 

467,261

593,869

Creditors: Amounts falling due within one year

7

(597,213)

(519,360)

Net current (liabilities)/assets

 

(129,952)

74,509

Total assets less current liabilities

 

231,732

491,730

Creditors: Amounts falling due after more than one year

7

(221,394)

(257,872)

Provisions for liabilities

-

(66,952)

Net assets

 

10,338

166,906

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

9,338

165,906

Shareholders' funds

 

10,338

166,906

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 August 2024
 

 

Landmark Scaffolding Limited

(Registration number: 03505609)
Balance Sheet as at 30 November 2023

.........................................
Mr D S Sheldrake
Director

 

Landmark Scaffolding Limited

Notes to the Unaudited 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.

The address of its registered office is:
7 Laureate Paddocks
Newmarket
Suffolk
CB8 0AP
England

These financial statements were authorised for issue by the director on 22 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.

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.

 

Landmark Scaffolding Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Improvements to property

10% on cost

Plant and equipment

25% on cost

Motor vehicles

25% on cost

Office equipment

25% on cost

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Landmark Scaffolding Limited

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

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.

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

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 balance sheet as a finance lease obligation.

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.

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.

 

Landmark Scaffolding Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 24 (2022 - 24).

 

Landmark Scaffolding Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 December 2022

219,606

22,623

505,883

272,144

Additions

-

7,925

130,148

138,689

Disposals

(162,178)

(14,009)

(252,283)

(151,152)

At 30 November 2023

57,428

16,539

383,748

259,681

Depreciation

At 1 December 2022

82,955

18,389

295,703

205,987

Charge for the year

5,743

1,890

80,509

52,783

Eliminated on disposal

(64,756)

(7,226)

(198,059)

(118,206)

At 30 November 2023

23,942

13,053

178,153

140,564

Carrying amount

At 30 November 2023

33,486

3,486

205,595

119,117

At 30 November 2022

136,651

4,234

210,179

66,157

Total
£

Cost or valuation

At 1 December 2022

1,020,256

Additions

276,762

Disposals

(579,622)

At 30 November 2023

717,396

Depreciation

At 1 December 2022

603,034

Charge for the year

140,925

Eliminated on disposal

(388,247)

At 30 November 2023

355,712

Carrying amount

At 30 November 2023

361,684

At 30 November 2022

417,221

 

Landmark Scaffolding Limited

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

5

Stocks

2023
£

2022
£

Other inventories

-

2,512

6

Debtors

Current

2023
£

2022
£

Trade debtors

314,178

359,567

Prepayments

16,330

28,256

Other debtors

46,852

135,681

 

377,360

523,504

 

Landmark Scaffolding Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

118,474

83,917

Trade creditors

 

376,780

353,217

Taxation and social security

 

48,035

45,239

Accruals and deferred income

 

25,150

14,990

Other creditors

 

28,774

21,997

 

597,213

519,360

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

221,394

257,872

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         
 

Landmark Scaffolding Limited

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

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

133,808

174,382

Hire purchase contracts

87,586

83,490

221,394

257,872

2023
£

2022
£

Current loans and borrowings

Bank borrowings

52,207

37,053

Hire purchase contracts

66,267

46,864

118,474

83,917

10

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of 200.00 (2022 - 201.00) per each Ordinary share

 

200,000

 

201,000

         
 

Landmark Scaffolding Limited

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

11

Related party transactions

Transactions with the director

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

Mr D S Sheldrake

Loan to/(from) Director - unsecured, interest free and repayable on demand

40,431

(32,431)

8,000

       
     

 

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr D S Sheldrake

Loan to/(from) Director - unsecured, interest free and repayable on demand

80,601

96,986

(137,156)

40,431

         
       

 

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

8,100

8,100