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Company No: 04573805 (England and Wales)

DACOL SCAFFOLDING LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

DACOL SCAFFOLDING LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

DACOL SCAFFOLDING LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
DACOL SCAFFOLDING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Mr G M Miller
REGISTERED OFFICE 59 Stanley Gardens
Paignton
TQ3 3NX
United Kingdom
COMPANY NUMBER 04573805 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
DACOL SCAFFOLDING LIMITED

BALANCE SHEET

As at 31 December 2023
DACOL SCAFFOLDING LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 31,899 35,770
31,899 35,770
Current assets
Debtors 5 22,129 19,483
Cash at bank and in hand 24,180 15,438
46,309 34,921
Creditors: amounts falling due within one year 6 ( 17,352) ( 12,372)
Net current assets 28,957 22,549
Total assets less current liabilities 60,856 58,319
Creditors: amounts falling due after more than one year 7 ( 14,750) ( 17,948)
Net assets 46,106 40,371
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 46,006 40,271
Total shareholder's funds 46,106 40,371

For the financial 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.

Director's responsibilities:

The financial statements of Dacol Scaffolding Limited (registered number: 04573805) were approved and authorised for issue by the Director on 08 September 2024. They were signed on its behalf by:

Mr G M Miller
Director
DACOL SCAFFOLDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
DACOL SCAFFOLDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dacol Scaffolding Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 59 Stanley Gardens, Paignton, TQ3 3NX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 15,000 15,000
At 31 December 2023 15,000 15,000
Accumulated amortisation
At 01 January 2023 15,000 15,000
At 31 December 2023 15,000 15,000
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 January 2023 69,547 20,288 1,814 91,649
Additions 1,573 0 350 1,923
At 31 December 2023 71,120 20,288 2,164 93,572
Accumulated depreciation
At 01 January 2023 44,367 10,671 841 55,879
Charge for the financial year 3,058 2,405 331 5,794
At 31 December 2023 47,425 13,076 1,172 61,673
Net book value
At 31 December 2023 23,695 7,212 992 31,899
At 31 December 2022 25,180 9,617 973 35,770

5. Debtors

2023 2022
£ £
Trade debtors 17,582 18,100
Prepayments 4,547 1,383
22,129 19,483

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 3,430 2,748
Trade creditors 5,030 4,659
Other taxation and social security 5,057 3,169
Other creditors 3,835 1,796
17,352 12,372

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 14,750 17,948

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100