Company registration number 06257035 (England and Wales)
HI-POINT SCAFFOLDING (CONTRACTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
HI-POINT SCAFFOLDING (CONTRACTS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HI-POINT SCAFFOLDING (CONTRACTS) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
281,694
157,137
Current assets
Debtors
4
389,449
520,869
Cash at bank and in hand
80,345
1,693
469,794
522,562
Creditors: amounts falling due within one year
5
(332,958)
(463,367)
Net current assets
136,836
59,195
Total assets less current liabilities
418,530
216,332
Creditors: amounts falling due after more than one year
6
(52,945)
(57,968)
Provisions for liabilities
(89,474)
(48,466)
Net assets
276,111
109,898
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
276,011
109,798
Total equity
276,111
109,898
HI-POINT SCAFFOLDING (CONTRACTS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -

For the financial year ended 30 June 2024 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 16 October 2024 and are signed on its behalf by:
Mr Simon Jarvis Blantern
Mrs Carly Diane Turley
Director
Director
Company registration number 06257035 (England and Wales)
HI-POINT SCAFFOLDING (CONTRACTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Hi-Point Scaffolding (Contracts) Limited is a private company limited by shares incorporated in England and Wales. The registered office is .

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

 

1.3
Tangible fixed assets

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

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

Plant and equipment
15% reducing balance
Computers
33% on cost
Motor vehicles
25% 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
Cash and cash equivalents

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

HI-POINT SCAFFOLDING (CONTRACTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.6
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.

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.

HI-POINT SCAFFOLDING (CONTRACTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -

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
15
5
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
497,749
340
106,050
604,139
Additions
122,692
-
0
27,000
149,692
At 30 June 2024
620,441
340
133,050
753,831
Depreciation and impairment
At 1 July 2023
342,435
340
104,227
447,002
Depreciation charged in the year
17,929
-
0
7,206
25,135
At 30 June 2024
360,364
340
111,433
472,137
Carrying amount
At 30 June 2024
260,077
-
0
21,617
281,694
At 30 June 2023
155,314
-
0
1,823
157,137
HI-POINT SCAFFOLDING (CONTRACTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
388,080
516,509
Other debtors
1,369
4,360
389,449
520,869
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
69,884
25,420
Trade creditors
11,068
167,708
Taxation and social security
73,656
75,454
Other creditors
178,350
194,785
332,958
463,367
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
52,945
57,968
7
Loans and overdrafts
2024
2023
£
£
Bank loans
121,437
81,968
Bank overdrafts
1,392
1,420
122,829
83,388
Payable within one year
69,884
25,420
Payable after one year
52,945
57,968

The long-term loans are secured by guarantee and fixed charge over equipment held by the company.

 

2024-06-302023-07-01false16 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr Matthew William BlanternMr Simon Jarvis BlanternMrs Carly Diane TurleyMr Garry Turleyfalsefalse062570352023-07-012024-06-30062570352024-06-30062570352023-06-3006257035core:PlantMachinery2024-06-3006257035core:ComputerEquipment2024-06-3006257035core:MotorVehicles2024-06-3006257035core:PlantMachinery2023-06-3006257035core:ComputerEquipment2023-06-3006257035core:MotorVehicles2023-06-3006257035core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3006257035core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3006257035core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3006257035core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3006257035core:CurrentFinancialInstruments2024-06-3006257035core:CurrentFinancialInstruments2023-06-3006257035core:ShareCapital2024-06-3006257035core:ShareCapital2023-06-3006257035core:RetainedEarningsAccumulatedLosses2024-06-3006257035core:RetainedEarningsAccumulatedLosses2023-06-3006257035bus:Director22023-07-012024-06-3006257035bus:Director32023-07-012024-06-3006257035core:PlantMachinery2023-07-012024-06-3006257035core:ComputerEquipment2023-07-012024-06-3006257035core:MotorVehicles2023-07-012024-06-30062570352022-07-012023-06-3006257035core:PlantMachinery2023-06-3006257035core:ComputerEquipment2023-06-3006257035core:MotorVehicles2023-06-30062570352023-06-3006257035core:WithinOneYear2024-06-3006257035core:WithinOneYear2023-06-3006257035core:Non-currentFinancialInstruments2024-06-3006257035core:Non-currentFinancialInstruments2023-06-3006257035bus:PrivateLimitedCompanyLtd2023-07-012024-06-3006257035bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3006257035bus:FRS1022023-07-012024-06-3006257035bus:AuditExempt-NoAccountantsReport2023-07-012024-06-3006257035bus:Director12023-07-012024-06-3006257035bus:Director42023-07-012024-06-3006257035bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP