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REGISTERED NUMBER: 02319030 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Wallington Scaffolding Limited

Wallington Scaffolding Limited (Registered number: 02319030)






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


Wallington Scaffolding Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: P Taylor
A M Taylor





SECRETARY: A M Taylor





REGISTERED OFFICE: Airport House
Purley Way
Croydon
United Kingdom
CR0 0XZ





REGISTERED NUMBER: 02319030 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Wallington Scaffolding Limited (Registered number: 02319030)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 758,409 821,975

CURRENT ASSETS
Debtors 5 259,939 217,322
Cash at bank and in hand 40,758 2,226
300,697 219,548
CREDITORS
Amounts falling due within one year 6 (149,383 ) (156,714 )
NET CURRENT ASSETS 151,314 62,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

909,723

884,809

CREDITORS
Amounts falling due after more than one year 7 (26,780 ) (48,420 )

PROVISIONS FOR LIABILITIES 9 (157,196 ) (154,806 )
NET ASSETS 725,747 681,583

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 531,399 606,244
Retained earnings 10 194,248 75,239
725,747 681,583

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.

Wallington Scaffolding Limited (Registered number: 02319030)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:





P Taylor - Director


Wallington Scaffolding Limited (Registered number: 02319030)

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

1. STATUTORY INFORMATION

Wallington 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company was that of erection and hire of scaffolding to the building industry.

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 represents amounts receivable for goods and services net of VAT and trade discounts.

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 machinery 10% on cost
Fixtures and fittings 25% on cost
Motor vehicles25% on 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.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Wallington Scaffolding Limited (Registered number: 02319030)

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

2. ACCOUNTING POLICIES - continued

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and Retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

PENSIONS
DEFINED CONTRIBUTION PENSION PLAN
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of income and retained earning when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 1,133,463 9,257 268,669 1,411,389
Additions 29,820 3,203 - 33,023
At 31 January 2024 1,163,283 12,460 268,669 1,444,412
DEPRECIATION
At 1 February 2023 383,463 5,863 200,088 589,414
Charge for year 77,436 2,008 17,145 96,589
At 31 January 2024 460,899 7,871 217,233 686,003
NET BOOK VALUE
At 31 January 2024 702,384 4,589 51,436 758,409
At 31 January 2023 750,000 3,394 68,581 821,975

Wallington Scaffolding Limited (Registered number: 02319030)

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

4. TANGIBLE FIXED ASSETS - continued

The fair value of the plant and machineries have been arrived at on the basis of a valuation provided by directors based on open market value. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 148,503 153,959
Other debtors 111,436 63,363
259,939 217,322

The directors consider the carrying value of trade and other receivables approximate to their fair value.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 677
Hire purchase contracts (see note 8) 21,640 22,972
Trade creditors 28,742 17,473
Taxation and social security 89,243 87,750
Other creditors 9,758 27,842
149,383 156,714

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 26,780 48,420

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 21,640 22,972
Between one and five years 26,780 48,420
48,420 71,392

Wallington Scaffolding Limited (Registered number: 02319030)

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

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 5,400 5,400

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Deferred tax 14,990 12,600
Deferred taxation liability -
on revaluation of assets 142,206 142,206
157,196 154,806

Deferred
tax
£   
Balance at 1 February 2023 154,806
Provided during year 2,390
Balance at 31 January 2024 157,196

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 75,239 606,244 681,483
Profit for the year 172,164 172,164
Dividends (128,000 ) (128,000 )
Transfer 74,845 (74,845 ) -
At 31 January 2024 194,248 531,399 725,647

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

REVALUATION RESERVES
Revaluation reserve consist of revaluation adjustments and deferred tax in relation to plant and machineries. This is a non-distributable reserve.

Wallington Scaffolding Limited (Registered number: 02319030)

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

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £12,534 (2023- £12,558).

Contribution totalling £2,395 (2023- 812) were payable to fund at balance sheet date and are included in other creditors.

12. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in other debtors were amounts of £31,448 (2023 - £1,576 included in other creditors) due from the directors. This loan is interest free and repaid at post year end.