Company registration number 07970220 (England and Wales)
ADS SCAFFOLDING (YORK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ADS SCAFFOLDING (YORK) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
ADS SCAFFOLDING (YORK) LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
743,110
531,175
Current assets
Debtors
4
237,930
134,548
Cash at bank and in hand
341,837
353,699
579,767
488,247
Creditors: amounts falling due within one year
5
(153,322)
(183,600)
Net current assets
426,445
304,647
Total assets less current liabilities
1,169,555
835,822
Creditors: amounts falling due after more than one year
6
(522)
(21,578)
Provisions for liabilities
(180,614)
(126,415)
Net assets
988,419
687,829
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
988,319
687,729
Total equity
988,419
687,829

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ADS SCAFFOLDING (YORK) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 October 2024 and are signed on its behalf by:
Mr A Stead
Director
Company registration number 07970220 (England and Wales)
ADS SCAFFOLDING (YORK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2022
100
447,448
447,548
Year ended 31 March 2023:
Profit and total comprehensive income
-
298,281
298,281
Dividends
-
(58,000)
(58,000)
Balance at 31 March 2023
100
687,729
687,829
Year ended 31 March 2024:
Profit and total comprehensive income
-
370,090
370,090
Dividends
-
(69,500)
(69,500)
Balance at 31 March 2024
100
988,319
988,419
ADS SCAFFOLDING (YORK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

ADS Scaffolding (York) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Sutton Grange, Sutton On The Forest, York Road, York, North Yorkshire, YO61 1EN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Straight line over 5 years
Plant and machinery
5% Reducing balance
Fixtures and fittings
20% Reducing balance
Computer equipment
33% Reducing balance
Motor vehicles
20% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

ADS SCAFFOLDING (YORK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ADS SCAFFOLDING (YORK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
13
13
ADS SCAFFOLDING (YORK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
3
Tangible fixed assets
Leasehold land and buildings
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
10,984
562,772
4,274
10,427
266,608
855,065
Additions
20,000
107,219
-
0
-
0
176,541
303,760
Disposals
-
0
-
0
-
0
-
0
(65,370)
(65,370)
At 31 March 2024
30,984
669,991
4,274
10,427
377,779
1,093,455
Depreciation
At 1 April 2023
183
218,150
2,692
6,804
96,061
323,890
Depreciation charged in the year
2,308
3,369
316
930
55,630
62,553
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(36,098)
(36,098)
At 31 March 2024
2,491
221,519
3,008
7,734
115,593
350,345
Carrying amount
At 31 March 2024
28,493
448,472
1,266
2,693
262,186
743,110
At 31 March 2023
10,801
344,622
1,582
3,623
170,547
531,175
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
216,261
99,220
Other debtors
21,669
35,328
237,930
134,548
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
26,996
14,665
Taxation and social security
105,198
122,399
Other creditors
21,128
46,536
153,322
183,600

Included in other creditors are amounts of £9,007 (2023: £29,911 ) due in relation to hire purchase obligations. These are secured against the assets to which they relate.

ADS SCAFFOLDING (YORK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
522
21,578

Included in other creditors are amounts of £522 (2023: £21,578) due in relation to hire purchase obligations. These are secured against the assets to which they relate.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
60
60
60
60
Oridnary B shares of £1 each
40
40
40
40
100
100
100
100

Each share is entitled to one vote in any circumstances. Each share is entitled pari passu to dividend payments or any other distribution.

8
Directors' transactions

Loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director
2.25
(1,503)
74,440
793
(69,500)
4,230
(1,503)
74,440
793
(69,500)
4,230
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