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REGISTERED NUMBER: 04164057 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Peninsular Scaffolding Limited

Peninsular Scaffolding Limited (Registered number: 04164057)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Peninsular Scaffolding Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D A Smith
S Owen
Mrs L Owen





REGISTERED OFFICE: Unit 26
Telford Road
Ellesmere Port
Cheshire
CH65 5EU





REGISTERED NUMBER: 04164057 (England and Wales)





ACCOUNTANTS: DUNCAN BOXWELL & COMPANY LIMITED
Bretton House
Bell Meadow Business Park
Pulford
Chester
Cheshire
CH4 9EP

Peninsular Scaffolding Limited (Registered number: 04164057)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 715,598 726,704

CURRENT ASSETS
Inventories 5 212,244 262,676
Debtors 6 12,291 8,733
Cash at bank and in hand 126,970 22
351,505 271,431
CREDITORS
Amounts falling due within one year 7 320,749 223,245
NET CURRENT ASSETS 30,756 48,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

746,354

774,890

CREDITORS
Amounts falling due after more than
one year

8

(235,275

)

(292,518

)

PROVISIONS FOR LIABILITIES (177,231 ) (135,387 )

ACCRUALS AND DEFERRED INCOME (2,200 ) (2,200 )
NET ASSETS 331,648 344,785

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 331,646 344,783
SHAREHOLDERS' FUNDS 331,648 344,785

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Peninsular Scaffolding Limited (Registered number: 04164057)

Balance Sheet - continued
31 March 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 31 August 2024 and were signed on its behalf by:





D A Smith - Director


Peninsular Scaffolding Limited (Registered number: 04164057)

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

1. STATUTORY INFORMATION

Peninsular 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.

Peninsular Scaffolding Limited (Registered number: 04164057)

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

2. ACCOUNTING POLICIES - continued

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.

Contract revenue recognition
Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• The amount of revenue can be measured reliably;
• It is probable that the Company will receive the consideration due under the contract;
• The stage of completion of the contract at the end of the reporting period can be measured reliably; and
• The costs incurred and the costs to complete the contract can be measured reliably.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion.

Variations on contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable.

When it is probable that total contract costs will exceed revenue, the expected loss is recognised as an expense immediately.

Contract costs are recognised as expenses in the period in which they are incurred.

Where contract costs, plus recognised profits, less recognised losses and progress billings gives rise to an asset, the asset is included in debtors as amounts recoverable on contracts. Where such an amount gives rise to a liability, the liability is included in creditors as amounts due to customers.

Peninsular Scaffolding Limited (Registered number: 04164057)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 33% Straight Line
Motor vehicles - 25% Reducing Balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct
labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired,
the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Peninsular Scaffolding Limited (Registered number: 04164057)

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

2. ACCOUNTING POLICIES - continued

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

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.

Lease
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are
classified as operating leases. Payments made under operating leases are charged to profit or loss on a
straight-line basis over the period of the lease.

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.

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.

Peninsular Scaffolding Limited (Registered number: 04164057)

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

2. ACCOUNTING POLICIES - continued

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortized cost, with the difference between the proceeds, net of transactions 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 1,508,459 15,416 163,619 1,687,494
Additions 79,873 - 3,995 83,868
Disposals (7,000 ) - - (7,000 )
At 31 March 2024 1,581,332 15,416 167,614 1,764,362
DEPRECIATION
At 1 April 2023 856,156 13,250 91,384 960,790
Charge for year 72,997 714 19,058 92,769
Eliminated on disposal (4,795 ) - - (4,795 )
At 31 March 2024 924,358 13,964 110,442 1,048,764
NET BOOK VALUE
At 31 March 2024 656,974 1,452 57,172 715,598
At 31 March 2023 652,303 2,166 72,235 726,704


5. INVENTORIES
31.3.24 31.3.23
£    £   
Work-in-progress 212,244 262,676

Peninsular Scaffolding Limited (Registered number: 04164057)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Directors' current accounts 2,500 -
Prepayments and accrued income 9,791 8,733
12,291 8,733

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 93,120 116,821
Hire purchase contracts 4,344 -
Trade creditors 109,724 20,487
Taxation and social security 90,187 83,904
Other creditors 23,374 2,033
320,749 223,245

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 105,004 175,004
Hire purchase contracts 13,757 -
Other creditors 116,514 117,514
235,275 292,518

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary share capital 1 2 2

Peninsular Scaffolding Limited (Registered number: 04164057)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mrs L Owen
Balance outstanding at start of year - -
Amounts advanced 1,250 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,250 -

S Owen
Balance outstanding at start of year - -
Amounts advanced 1,250 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,250 -

11. RELATED PARTY DISCLOSURES

The company is wholly owned by D. Smith (Holdings) Limited, a company incorporated in England and Wales. The ultimate controlling party is D Smith by virtue of his ownership of D. Smith (Holdings) Limited.

At the balance sheet date, the company owed £116,514 (2023: £117,514) to D. Smith (Holdings) Limited.
The loan is interest free and does not have a set repayment date.