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Registered number: 7108988
London & South Scaffolding Limited
Financial Statements
For The Year Ended 31 December 2023
Ads Accountants
Certified Practising Accountants
117 Dartford Road
Dartford
Kent
DA1 3EN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 7108988
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 225,608 145,964
225,608 145,964
CURRENT ASSETS
Stocks 5 98,835 101,360
Debtors 6 422,301 219,318
Cash at bank and in hand 610,904 772,833
1,132,040 1,093,511
Creditors: Amounts Falling Due Within One Year 7 (203,783 ) (190,551 )
NET CURRENT ASSETS (LIABILITIES) 928,257 902,960
TOTAL ASSETS LESS CURRENT LIABILITIES 1,153,865 1,048,924
Creditors: Amounts Falling Due After More Than One Year 8 (96,918 ) (35,908 )
NET ASSETS 1,056,947 1,013,016
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 1,056,946 1,013,015
SHAREHOLDERS' FUNDS 1,056,947 1,013,016
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gary Peck
Director
20/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
London & South Scaffolding Limited is a private company, limited by shares, incorporated in England & Wales, registered number 7108988 . The registered office is 117 Dartford Rd, Dartford, DA1 3EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Blanace Basis
Motor Vehicles 25% Reducing Blanace Basis
Computer Equipment 25% Reducing Blanace Basis
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 183,190 296,478 2,069 481,737
Additions 8,335 160,781 - 169,116
Disposals - (22,515 ) - (22,515 )
As at 31 December 2023 191,525 434,744 2,069 628,338
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 January 2023 167,139 166,772 1,862 335,773
Provided during the period 6,815 69,283 52 76,150
Disposals - (9,193 ) - (9,193 )
As at 31 December 2023 173,954 226,862 1,914 402,730
Net Book Value
As at 31 December 2023 17,571 207,882 155 225,608
As at 1 January 2023 16,051 129,706 207 145,964
5. Stocks
2023 2022
£ £
Materials 98,835 101,360
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 418,113 218,318
Other debtors - 1,000
VAT 4,188 -
422,301 219,318
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 99,448 20,685
Bank loans and overdrafts 26,882 4,949
Corporation tax 39,014 120,104
Other taxes and social security 37,945 31,212
VAT - 13,551
Other creditors 494 50
203,783 190,551
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Long term finance 3,933 13,274
Bank loan 92,985 22,634
96,918 35,908
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4