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Registration number: 08409038

Ashbourne Scaffolding Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Ashbourne Scaffolding Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Ashbourne Scaffolding Limited

Company Information

Directors

Mr Jay Pountain

Ms Kate Elizabeth Ellis

Company secretary

Mr Jay Pountain

Registered office

52a St John Street
ASHBOURNE
Derbyshire
DE6 1GH

Accountants

Libra Business Essentials Ltd
Accountants
52a St John Street
ASHBOURNE
Derbyshire
DE6 1GH

 

Ashbourne Scaffolding Limited

(Registration number: 08409038)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

113,169

130,534

Current assets

 

Debtors

5

58,947

42,814

Cash at bank and in hand

 

41,604

10,629

 

100,551

53,443

Creditors: Amounts falling due within one year

6

(59,604)

(52,507)

Net current assets

 

40,947

936

Total assets less current liabilities

 

154,116

131,470

Creditors: Amounts falling due after more than one year

6

(124,276)

(109,689)

Net assets

 

29,840

21,781

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

29,838

21,779

Shareholders' funds

 

29,840

21,781

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 August 2024 and signed on its behalf by:
 

 

Ashbourne Scaffolding Limited

(Registration number: 08409038)
Balance Sheet as at 29 February 2024

.........................................
Mr Jay Pountain
Company secretary and director

.........................................
Ms Kate Elizabeth Ellis
Director

 

Ashbourne Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
52a St John Street
ASHBOURNE
Derbyshire
DE6 1GH
England

The principal place of business is:
42 Wyaston Road
ASHBOURNE
Derbyshire
DE6 1TX
United Kingdom

These financial statements were authorised for issue by the Board on 13 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Ashbourne Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant, Fixtures & Fittings

15% reducing balance

Office Equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Ashbourne Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Ashbourne Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

3,722

265,595

269,317

Additions

-

4,990

4,990

Disposals

-

(800)

(800)

At 29 February 2024

3,722

269,785

273,507

Depreciation

At 1 March 2023

3,085

135,698

138,783

Charge for the year

298

21,257

21,555

At 29 February 2024

3,383

156,955

160,338

Carrying amount

At 29 February 2024

339

112,830

113,169

At 28 February 2023

637

129,897

130,534

5

Debtors

Current

2024
£

2023
£

Trade debtors

42,425

30,814

Prepayments

7,994

7,234

Other debtors

8,528

4,766

 

58,947

42,814

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

13,500

19,500

Trade creditors

 

8,035

6,610

Taxation and social security

 

34,960

24,711

Accruals and deferred income

 

1,192

1,686

Other creditors

 

1,917

-

 

59,604

52,507

 

Ashbourne Scaffolding Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

124,276

109,689

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

124,276

109,689

Current loans and borrowings

2024
£

2023
£

Other borrowings

13,500

19,500