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COMPANY REGISTRATION NUMBER: SC198717
J.D. Scaffolding Limited
Filleted Unaudited Financial Statements
30 November 2023
J.D. Scaffolding Limited
Financial Statements
Year ended 30 November 2023
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
J.D. Scaffolding Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of J.D. Scaffolding Limited
Year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J.D. Scaffolding Limited for the year ended 30 November 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of J.D. Scaffolding Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of J.D. Scaffolding Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J.D. Scaffolding Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that J.D. Scaffolding Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J.D. Scaffolding Limited. You consider that J.D. Scaffolding Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of J.D. Scaffolding Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
3 September 2024
J.D. Scaffolding Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
15,696
26,207
Current assets
Stocks
15,691
Debtors
6
47,747
63,001
Cash at bank and in hand
37,794
52,100
--------
---------
85,541
130,792
Creditors: amounts falling due within one year
7
37,070
31,353
--------
---------
Net current assets
48,471
99,439
--------
---------
Total assets less current liabilities
64,167
125,646
Creditors: amounts falling due after more than one year
8
19,224
25,000
Provisions
Taxation including deferred tax
2,037
3,784
--------
---------
Net assets
42,906
96,862
--------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
42,806
96,762
--------
--------
Shareholders funds
42,906
96,862
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
J.D. Scaffolding Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 3 September 2024 , and are signed on behalf of the board by:
Mr J P Dick
Director
Company registration number: SC198717
J.D. Scaffolding Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 629 Coatbridge Road, Glasgow, G69 7PH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible 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
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:
Plant & Machinery
-
25% straight line
Fixture & Fittings
-
25% straight line
Motor Vehicles
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 11 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2022 and 30 November 2023
25,928
6,338
41,167
73,433
--------
-------
--------
--------
Depreciation
At 1 December 2022
24,865
6,338
16,023
47,226
Charge for the year
219
10,292
10,511
--------
-------
--------
--------
At 30 November 2023
25,084
6,338
26,315
57,737
--------
-------
--------
--------
Carrying amount
At 30 November 2023
844
14,852
15,696
--------
-------
--------
--------
At 30 November 2022
1,063
25,144
26,207
--------
-------
--------
--------
Tangible assets held at valuation
6. Debtors
2023
2022
£
£
Trade debtors
40,365
43,163
Prepayments and accrued income
3,226
13,380
Corporation tax repayable
2,844
1,184
Other debtors
1,312
5,274
--------
--------
47,747
63,001
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
6,190
10,173
Accruals and deferred income
1,650
1,650
Social security and other taxes
9,495
3,828
Director loan accounts
3,643
2,490
Other creditors
6,092
3,212
--------
--------
37,070
31,353
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
19,224
25,000
--------
--------
9. Directors' advances, credits and guarantees
At the year end the company owed Mr J Dick, director, £3,643. (2022: £2,490).
10. Controlling party
The company was under the control of Mr J Dick throughout the current and previous year.