REGISTERED NUMBER: |
Border Scaffold Services Limited |
Unaudited Financial Statements |
for the Year Ended 30 December 2023 |
REGISTERED NUMBER: |
Border Scaffold Services Limited |
Unaudited Financial Statements |
for the Year Ended 30 December 2023 |
Border Scaffold Services Limited (Registered number: 04140989) |
Contents of the Financial Statements |
for the Year Ended 30 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Certified Accountants' Report | 10 |
Border Scaffold Services Limited |
Company Information |
for the Year Ended 30 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
110 Corve Street |
Ludlow |
SHROPSHIRE |
SY8 1DJ |
Border Scaffold Services Limited (Registered number: 04140989) |
Balance Sheet |
30 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Border Scaffold Services Limited (Registered number: 04140989) |
Balance Sheet - continued |
30 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Border Scaffold Services Limited (Registered number: 04140989) |
Notes to the Financial Statements |
for the Year Ended 30 December 2023 |
1. | STATUTORY INFORMATION |
Border Scaffold Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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. |
Border Scaffold Services Limited (Registered number: 04140989) |
Notes to the Financial Statements - continued |
for the Year Ended 30 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Invoice discounting |
The company sells trade receivables balances to a third-party invoice discounting company in exchange for a cash payment from the invoice discounting company, net of fees. All the risks and rewards of the trade receivables remain with the company and, accordingly, the trade receivables remain recognised in the balance sheet. Such arrangements are used from time to time by the company to manage the recovery of cash from its trade receivables. As at 31 December 2023, the company balance sheet included £95,017 (2022: £150,062) of trade receivables subject to such arrangements. Factoring fees incurred during the year ended 31 December 2023, which are written off to the income statement within ordinary finance costs, amounted to £39,401 (2022: £27,048). |
Revaluation |
Plant and machinery are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are performed by the director. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset. |
Any revaluation increase in the carrying amount of plant and machinery is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended. |
Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. Each year the difference between depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset's original cost is transferred from revaluation reserve to retained earnings. |
Plant and machinery were revalued for the first time during the financial year to 31st December 2010, whilst they were carried at cost less accumulated depreciation and impairment in previous periods. The use of a policy of revaluation provides more relevant and reliable information about the value of the plant and machinery owned by the company. The effects of the change in accounting policy on the financial statements are illustrated in note 6. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Border Scaffold Services Limited (Registered number: 04140989) |
Notes to the Financial Statements - continued |
for the Year Ended 30 December 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 31 December 2022 |
and 30 December 2023 |
AMORTISATION |
At 31 December 2022 |
and 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 31 December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 December 2023 |
DEPRECIATION |
At 31 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
Cost or valuation at 30 December 2023 is represented by: |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2010 | 640,208 | - | - | - | 640,208 |
Cost | 970,030 | 5,630 | 416,087 | 11,449 | 1,403,196 |
1,610,238 | 5,630 | 416,087 | 11,449 | 2,043,404 |
Border Scaffold Services Limited (Registered number: 04140989) |
Notes to the Financial Statements - continued |
for the Year Ended 30 December 2023 |
5. | PROPERTY, PLANT AND EQUIPMENT - continued |
If plant and machinery had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 970,030 | 942,260 |
Aggregate depreciation | 578,290 | 555,065 |
Plant and machinery were valued on an open market basis on 31 December 2010 by the director . |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST OR VALUATION |
At 31 December 2022 |
Additions |
Transfer to ownership | (21,495 | ) |
At 30 December 2023 |
DEPRECIATION |
At 31 December 2022 |
Charge for year |
Transfer to ownership | (12,427 | ) |
At 30 December 2023 |
NET BOOK VALUE |
At 30 December 2023 |
At 30 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Tax |
VAT |
Prepayments |
Border Scaffold Services Limited (Registered number: 04140989) |
Notes to the Financial Statements - continued |
for the Year Ended 30 December 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | - | 11,222 |
Other creditors |
Directors' current accounts | 34,877 | 3,057 |
Accrued expenses |
Invoice discounting is secured over the trade debtors of the company. The company balance sheet included £95,017 (2022: £150,062) of trade receivables subject to such arrangements. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans |
Hire purchase contracts |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 31 December 2022 |
Revaluation in the year | (29,489 | ) |
At 30 December 2023 |
The revaluation reserve relates to the revaluation of scaffolding and associated plant last carried out in detail in 2010. The director reviewed this figure on 31 December 2019 and considers the revaluation to still be relevant. |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the year ended 30 December 2023 and the period ended 30 December 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Border Scaffold Services Limited (Registered number: 04140989) |
Notes to the Financial Statements - continued |
for the Year Ended 30 December 2023 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued |
The director has been charged 2.25% interest during the periods when the loan from the company exceeded £10,000. |
Chartered Certified Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Border Scaffold Services Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Border Scaffold Services Limited for the year ended 30 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the director of Border Scaffold Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Border Scaffold Services Limited and state those matters that we have agreed to state to the director of Border Scaffold Services Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that Border Scaffold Services Limited 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 Border Scaffold Services Limited. You consider that Border Scaffold Services Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Border Scaffold Services Limited. 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. |
Chartered Certified Accountants |
110 Corve Street |
Ludlow |
SHROPSHIRE |
SY8 1DJ |