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REGISTERED NUMBER: 03222090 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Artel Scaffolding Limited

Artel Scaffolding Limited (Registered number: 03222090)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Artel Scaffolding Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs J A Morrissey
B J Morrissey
M Bradbury





REGISTERED OFFICE: Fiboard House
5 Oakleigh Gardens
Whetstone
London
N20 9AB





REGISTERED NUMBER: 03222090 (England and Wales)






Artel Scaffolding Limited (Registered number: 03222090)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 741,917 1,178,313

CURRENT ASSETS
Debtors 5 2,571,553 2,194,195
Cash at bank and in hand 1,780,109 1,714,243
4,351,662 3,908,438
CREDITORS
Amounts falling due within one year 6 2,126,771 1,997,095
NET CURRENT ASSETS 2,224,891 1,911,343
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,966,808

3,089,656

CREDITORS
Amounts falling due after more than one
year

7

(161,512

)

(253,748

)

PROVISIONS FOR LIABILITIES (142,060 ) (192,063 )
NET ASSETS 2,663,236 2,643,845

CAPITAL AND RESERVES
Called up share capital 200 100
Retained earnings 2,663,036 2,643,745
SHAREHOLDERS' FUNDS 2,663,236 2,643,845

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Artel Scaffolding Limited (Registered number: 03222090)

Balance Sheet - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:




B J Morrissey - Director Mrs J A Morrissey - Director




M Bradbury - Director


Artel Scaffolding Limited (Registered number: 03222090)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Artel Scaffolding Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the remaining period of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

Artel Scaffolding Limited (Registered number: 03222090)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and director's loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Director's loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income Retained Earnings.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2023 - 81 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 12,060 5,169,028 31,371
Additions - 157,073 -
Disposals - - -
At 31 January 2024 12,060 5,326,101 31,371
DEPRECIATION
At 1 February 2023 12,060 4,137,073 20,503
Charge for year - 647,257 2,717
Eliminated on disposal - - -
At 31 January 2024 12,060 4,784,330 23,220
NET BOOK VALUE
At 31 January 2024 - 541,771 8,151
At 31 January 2023 - 1,031,955 10,868

Artel Scaffolding Limited (Registered number: 03222090)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 404,650 54,610 5,671,719
Additions 137,032 3,535 297,640
Disposals (84,542 ) - (84,542 )
At 31 January 2024 457,140 58,145 5,884,817
DEPRECIATION
At 1 February 2023 282,395 41,375 4,493,406
Charge for year 59,807 4,193 713,974
Eliminated on disposal (64,480 ) - (64,480 )
At 31 January 2024 277,722 45,568 5,142,900
NET BOOK VALUE
At 31 January 2024 179,418 12,577 741,917
At 31 January 2023 122,255 13,235 1,178,313

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 308,459 360,644
Amounts owed by participating interests 1,314,448 736,853
Other debtors 948,646 1,096,698
2,571,553 2,194,195

Other debtors include £57,979 which relates to the directors' overdrawn loan account balance at the year end. At the start of the year the directors' current account was in credit by £6 (the company owed the directors) and the maximum overdrawn amount during the year was £57,979. Interest is charged on the overdrawn directors' loan account at the official rate of interest.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 141,479 160,971
Trade creditors 541,821 766,251
Taxation and social security 614,289 54,440
Other creditors 829,182 1,015,433
2,126,771 1,997,095

The Hire Purchase creditors are secured on the relevant assets.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 161,512 253,748

Artel Scaffolding Limited (Registered number: 03222090)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.1.24 31.1.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 1,301

The Hire Purchase creditors are secured on the relevant assets.

8. RELATED PARTY DISCLOSURES

There are companies that have some common directors and shareholders with this company and at 31 January 2024 some of these companies owed £1,314,448 (2023 - £736,853) to the company. No interest has been charged by the company in respect of these amounts owed which are repayable on demand and classified in debtors.