Registered number
06500610
Rise Scaffold Services Ltd
Filleted Accounts
31 January 2024
Rise Scaffold Services Ltd
Registered number: 06500610
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 472,036 406,052
Current assets
Stocks 181,549 54,513
Debtors 4 316,306 696,251
Cash at bank and in hand 73,333 66,979
571,188 817,743
Creditors: amounts falling due within one year 5 (299,018) (348,940)
Net current assets 272,170 468,803
Total assets less current liabilities 744,206 874,855
Creditors: amounts falling due after more than one year 6 (69,896) (168,231)
Provisions for liabilities (85,189) (85,189)
Net assets 589,121 621,435
Capital and reserves
Called up share capital 100 100
Profit and loss account 589,021 621,335
Shareholders' funds 589,121 621,435
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Howlett
Director
Approved by the board on 7 October 2024
Rise Scaffold Services Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery Straight line basis (5 and 10 years)
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 23 26
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 47,862 460,670 - 508,532
Additions - 19,532 111,410 130,942
At 31 January 2024 47,862 480,202 111,410 639,474
Depreciation
At 1 February 2023 - 102,480 - 102,480
Charge for the year - 54,582 10,376 64,958
At 31 January 2024 - 157,062 10,376 167,438
Net book value
At 31 January 2024 47,862 323,140 101,034 472,036
At 31 January 2023 47,862 358,190 - 406,052
4 Debtors 2024 2023
£ £
Trade debtors 285,954 454,054
Other debtors 30,352 242,197
316,306 696,251
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,876 10,065
Obligations under finance lease and hire purchase contracts 30,387 -
Trade creditors 19,678 309,331
Taxation and social security costs 62,548 29,544
Other creditors 176,529 -
299,018 348,940
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,012 68,675
Obligations under finance lease and hire purchase contracts 54,884 -
Other creditors - 99,556
69,896 168,231
7 Related party transactions
During the year the company purchased goods and services (including hired goods) from Satago Trading Ltd, a company under the control of Mr R Howlett (together with his wife Mrs K Howlett ) totalling £325,775 exclusive of VAT. Note that these transactions were calculated and charged at a market rate. During the year the company provided goods and services to Satago Trading Ltd for the amount of £104,149 - charged to that company at a market rate.
Included within Other creditors is an Inter company account balance (with Satago (Trading) Ltd) of £61224.
8 Other information
Rise Scaffold Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Acer Road
Saddlebow Industrial Estate
King's Lynn
Norfolk
PE34 3HN
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