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REGISTERED NUMBER: 02940202 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

M.R. Scaffolding (Anglia) Limited

M.R. Scaffolding (Anglia) Limited (Registered number: 02940202)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


M.R. Scaffolding (Anglia) Limited (Registered number: 02940202)

Balance Sheet
31 March 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 1,312,820 1,336,825

Current assets
Debtors 5 1,381,828 883,846
Cash at bank 31,244 71,054
1,413,072 954,900
Creditors
Amounts falling due within one year 6 (770,373 ) (441,203 )
Net current assets 642,699 513,697
Total assets less current liabilities 1,955,519 1,850,522

Creditors
Amounts falling due after more than one
year

7

(34,420

)

(135,777

)

Provisions for liabilities (266,642 ) (261,590 )
Net assets 1,654,457 1,453,155

Capital and reserves
Called up share capital 900 900
Capital redemption reserve 1 1
Retained earnings 1,653,556 1,452,254
1,654,457 1,453,155

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 director acknowledges his 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.

M.R. Scaffolding (Anglia) Limited (Registered number: 02940202)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2024 and were signed by:





Mr A P Regan - Director


M.R. Scaffolding (Anglia) Limited (Registered number: 02940202)

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


1. Statement of compliance

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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings - 2% on cost
Property improvements - 10% on cost
Plant and machinery - 5%/20%/33% on cost
Office equipment - 20% on cost
Motor vehicles - 25% on cost

M.R. Scaffolding (Anglia) Limited (Registered number: 02940202)

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


2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


M.R. Scaffolding (Anglia) Limited (Registered number: 02940202)

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


2. Accounting policies - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

3. Employees and directors

The average number of employees during the year was 35 (2023 - 35 ) .

M.R. Scaffolding (Anglia) Limited (Registered number: 02940202)

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


4. Tangible fixed assets
Freehold Improvements Plant and
property to property machinery
£ £ £
Cost
At 1 April 2023 284,582 21,656 75,702
Additions - - 2,900
Disposals - - (1,500 )
At 31 March 2024 284,582 21,656 77,102
Depreciation
At 1 April 2023 3,979 7,264 69,052
Charge for year 691 2,173 3,102
Eliminated on disposal - - (1,500 )
At 31 March 2024 4,670 9,437 70,654
Net book value
At 31 March 2024 279,912 12,219 6,448
At 31 March 2023 280,603 14,392 6,650

Fixtures
and Motor Scaffolding
fittings vehicles equipment Totals
£ £ £ £
Cost
At 1 April 2023 94,731 513,316 2,225,919 3,215,906
Additions 4,754 91,586 36,321 135,561
Disposals (6,501 ) (77,161 ) (41,648 ) (126,810 )
At 31 March 2024 92,984 527,741 2,220,592 3,224,657
Depreciation
At 1 April 2023 76,917 336,570 1,385,299 1,879,081
Charge for year 7,314 37,354 108,463 159,097
Eliminated on disposal (6,501 ) (77,161 ) (41,179 ) (126,341 )
At 31 March 2024 77,730 296,763 1,452,583 1,911,837
Net book value
At 31 March 2024 15,254 230,978 768,009 1,312,820
At 31 March 2023 17,814 176,746 840,620 1,336,825

M.R. Scaffolding (Anglia) Limited (Registered number: 02940202)

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


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Scaffolding
vehicles equipment Totals
£ £ £
Cost
At 1 April 2023 197,374 36,604 233,978
Additions 28,830 - 28,830
Transfer to ownership - (36,604 ) (36,604 )
At 31 March 2024 226,204 - 226,204
Depreciation
At 1 April 2023 29,105 15,315 44,420
Charge for year 26,440 3,113 29,553
Transfer to ownership - (36,604 ) (36,604 )
At 31 March 2024 55,545 (18,176 ) 37,369
Net book value
At 31 March 2024 170,659 18,176 188,835
At 31 March 2023 168,269 21,289 189,558

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 545,838 460,509
Amounts owed by group undertakings 208,500 415,952
Other debtors 627,490 7,385
1,381,828 883,846

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 165,598 188,271
Hire purchase contracts 26,071 28,933
Trade creditors 90,834 91,306
Amounts owed to group undertakings 216,204 -
Taxation and social security 245,573 75,471
Other creditors 26,093 57,222
770,373 441,203

M.R. Scaffolding (Anglia) Limited (Registered number: 02940202)

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


7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 96,583
Hire purchase contracts 34,420 39,194
34,420 135,777

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdrafts 165,598 111,563
Hire purchase contracts 60,491 68,127
226,089 179,690

The bank overdraft facility is secured by a charge over the assets of the company, together with the assets of the parent company MR Holdings (Anglia) Limited. Balances under hire purchase agreements are secured on the assets acquired.

9. Related party disclosures

During the year, sales invoices totalling £380,972 (2023: £420,160) were issued to MR Safe Deck (Anglia) Limited, a company under the control of the directors. At 31 March 2024 a balance of £47,612 (2023: £38,423) was included in trade debtors.