Aco Scaffolding Limited 03452367 false 2022-11-01 2024-04-30 2024-04-30 The principal activity of the company is Provision of scaffolding services. Digita Accounts Production Advanced 6.30.9574.0 true true 03452367 2022-11-01 2024-04-30 03452367 2024-04-30 03452367 bus:Director1 1 2024-04-30 03452367 core:CurrentFinancialInstruments 2024-04-30 03452367 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 03452367 core:Non-currentFinancialInstruments 2024-04-30 03452367 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 03452367 core:FurnitureFittingsToolsEquipment 2024-04-30 03452367 core:MotorVehicles 2024-04-30 03452367 bus:SmallEntities 2022-11-01 2024-04-30 03452367 bus:AuditExemptWithAccountantsReport 2022-11-01 2024-04-30 03452367 bus:FilletedAccounts 2022-11-01 2024-04-30 03452367 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2024-04-30 03452367 bus:RegisteredOffice 2022-11-01 2024-04-30 03452367 bus:Director1 2022-11-01 2024-04-30 03452367 bus:Director1 1 2022-11-01 2024-04-30 03452367 bus:Director2 2022-11-01 2024-04-30 03452367 bus:PrivateLimitedCompanyLtd 2022-11-01 2024-04-30 03452367 bus:Agent1 2022-11-01 2024-04-30 03452367 core:FurnitureFittings 2022-11-01 2024-04-30 03452367 core:FurnitureFittingsToolsEquipment 2022-11-01 2024-04-30 03452367 core:MotorVehicles 2022-11-01 2024-04-30 03452367 core:PlantMachinery 2022-11-01 2024-04-30 03452367 core:Vehicles 2022-11-01 2024-04-30 03452367 countries:EnglandWales 2022-11-01 2024-04-30 03452367 2022-10-31 03452367 bus:Director1 1 2022-10-31 03452367 core:FurnitureFittingsToolsEquipment 2022-10-31 03452367 core:MotorVehicles 2022-10-31 03452367 2021-11-01 2022-10-31 03452367 2022-10-31 03452367 bus:Director1 1 2022-10-31 03452367 core:CurrentFinancialInstruments 2022-10-31 03452367 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 03452367 core:Non-currentFinancialInstruments 2022-10-31 03452367 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 03452367 core:FurnitureFittingsToolsEquipment 2022-10-31 03452367 core:MotorVehicles 2022-10-31 03452367 bus:Director1 1 2021-11-01 2022-10-31 03452367 bus:Director1 1 2021-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03452367

Aco Scaffolding Limited

Annual Report and Unaudited Filleted Financial Statements

for the Period from 1 November 2022 to 30 April 2024

 

Aco Scaffolding Limited

Contents

Company Information

1

Statement Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Aco Scaffolding Limited

Company Information

Directors

A Cox

ST Cox

Registered office

44-50 High Street
Rayleigh
Essex
SS6 7EA

Bankers

Natwest Bank plc

Accountants

West-Webbe Consultancy
Chartered Certified Accountants
44-50 High Street
Rayleigh
Essex
SS6 7EA

 

Aco Scaffolding Limited

(Registration number: 03452367)
Statement Financial Position as at 30 April 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

71,627

70,399

Current assets

 

Stocks

5

57,545

28,975

Debtors

6

128,953

175,679

Cash at bank and in hand

 

140,460

315,378

 

326,958

520,032

Creditors: Amounts falling due within one year

7

(39,312)

(111,437)

Net current assets

 

287,646

408,595

Total assets less current liabilities

 

359,273

478,994

Creditors: Amounts falling due after more than one year

7

(12,058)

(27,341)

Provisions for liabilities

(13,609)

(13,376)

Net assets

 

333,606

438,277

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

333,596

438,267

Shareholders' funds

 

333,606

438,277

 

Aco Scaffolding Limited

(Registration number: 03452367)
Statement Financial Position as at 30 April 2024

For the financial period ending 30 April 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 period 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 Income Statement.

Approved and authorised by the Board on 17 October 2024 and signed on its behalf by:
 

.........................................
A Cox
Director

 

Aco Scaffolding Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

1

General information

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

The address of its registered office is:
44-50 High Street
Rayleigh
Essex
SS6 7EA

These financial statements were authorised for issue by the Board on 17 October 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 and deferred 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.

 

Aco Scaffolding Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement financial position 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

Motor Vehicles

25% on net book value

Plant and machinery

20% on net book value

Fixtures and fittings

25% on net book value

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.

 

Aco Scaffolding Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

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.

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

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 income statement 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.

 

Aco Scaffolding Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

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 period, was 6 (2022 - 7).

 

Aco Scaffolding Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

96,180

131,435

227,615

Additions

-

38,975

38,975

Disposals

-

(12,995)

(12,995)

At 30 April 2024

96,180

157,415

253,595

Depreciation

At 1 November 2022

77,765

79,451

157,216

Charge for the period

5,743

23,679

29,422

Eliminated on disposal

-

(4,670)

(4,670)

At 30 April 2024

83,508

98,460

181,968

Carrying amount

At 30 April 2024

12,672

58,955

71,627

At 31 October 2022

18,415

51,984

70,399

5

Stocks

2024
£

2022
£

Raw materials and consumables

57,545

28,975

6

Debtors

Current

2024
£

2022
£

Trade debtors

118,504

175,679

Prepayments

10,449

-

 

128,953

175,679

 

Aco Scaffolding Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2022
£

Due within one year

 

Loans and borrowings

9

10,176

9,773

Trade creditors

 

5,205

8,816

Taxation and social security

 

19,695

68,875

Accruals and deferred income

 

3,000

3,265

Other creditors

 

1,236

20,708

 

39,312

111,437

Creditors: amounts falling due after more than one year

Note

2024
£

2022
£

Due after one year

 

Loans and borrowings

9

12,058

27,341

8

Share capital

Allotted, called up and fully paid shares

2024

2022

No.

£

No.

£

Ordinary £1 A shares of £1 each

6

6

6

6

Ordinary £1 B shares of £1 each

4

4

4

4

10

10

10

10

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2022
£

Bank borrowings

12,058

27,341

Current loans and borrowings

 

Aco Scaffolding Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

2024
£

2022
£

Bank borrowings

10,176

9,773

10

Dividends

Final dividends paid

   

2024
£

 

2022
£

Final dividend Ordinary £1 A shares

 

55,000

 

32,000

Final dividend Ordinary £1 B shares

 

47,000

 

29,000

   

102,000

 

61,000

11

Related party transactions

Transactions with directors

2024

At 1 November 2022
£

Advances to director
£

At 30 April 2024
£

A Cox

(13,063)

12,517

(546)

2022

At 1 November 2021
£

Advances to director
£

At 31 October 2022
£

A Cox

(39,474)

26,411

(13,063)

Directors' remuneration

The directors' remuneration for the period was as follows:

2024
£

2022
£

Remuneration

37,712

25,625