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REGISTERED NUMBER: 06502221 (England and Wales)















G & R SCAFFOLDING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






G & R SCAFFOLDING LIMITED (REGISTERED NUMBER: 06502221)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G & R SCAFFOLDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: G McFall



SECRETARY: M C McFall



REGISTERED OFFICE: Unit 2a Coventry Road
Exhall
West Midlands
CV7 9FU



REGISTERED NUMBER: 06502221 (England and Wales)



ACCOUNTANTS: Burrows Scarborough
Sovereign House
12 Warwick Street
Coventry
West Midlands
CV5 6ET



BANKERS: Lloyds TSB
30 High Street
Coventry
West Midlands
CV1 5RA

G & R SCAFFOLDING LIMITED (REGISTERED NUMBER: 06502221)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,505,288 1,521,388

CURRENT ASSETS
Debtors 5 321,295 317,598
Prepayments and accrued income 2,672 2,387
Cash at bank 522,809 246,293
846,776 566,278
CREDITORS
Amounts falling due within one year 6 285,939 260,122
NET CURRENT ASSETS 560,837 306,156
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,066,125

1,827,544

CREDITORS
Amounts falling due after more than one
year

7

(183,320

)

(282,685

)

PROVISIONS FOR LIABILITIES (146,408 ) (155,130 )

ACCRUALS AND DEFERRED INCOME (5,231 ) (2,400 )
NET ASSETS 1,731,166 1,387,329

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 1,721,166 1,377,329
SHAREHOLDERS' FUNDS 1,731,166 1,387,329

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.

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 29 November 2024 and were signed by:



G McFall - Director


G & R SCAFFOLDING LIMITED (REGISTERED NUMBER: 06502221)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

G & R 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) including the provisions of Section 1A 'Small Entities' and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified as necessary to include certain items at fair value.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for services provided in the normal course of business, as is shown net of VAT.

Turnover is recognized on supply of services to the customer.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Computer Equipment - 33% on straight line
Fixtures & Fittings - 33% on straight line

From the 1st April 2019 the company started to depreciate Freehold property at 2% on cost per annum.

The freehold land is not depreciated.


Impairment of Fixed Assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognized in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


G & R SCAFFOLDING LIMITED (REGISTERED NUMBER: 06502221)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions
Provisions are recognized when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Sales Invoice Discounting

Amounts due in respect of invoice discounting are separately disclosed as current liabilities. The management and collection of trade debtors remain within the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 10 ) .

G & R SCAFFOLDING LIMITED (REGISTERED NUMBER: 06502221)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 981,482 1,258,468 2,239,950
Additions - 142,934 142,934
Disposals - (109,783 ) (109,783 )
At 31 March 2024 981,482 1,291,619 2,273,101
DEPRECIATION
At 1 April 2023 40,505 678,057 718,562
Charge for year 10,127 148,907 159,034
Eliminated on disposal - (109,783 ) (109,783 )
At 31 March 2024 50,632 717,181 767,813
NET BOOK VALUE
At 31 March 2024 930,850 574,438 1,505,288
At 31 March 2023 940,977 580,411 1,521,388

Included in cost of land and buildings is freehold land of £ 452,488 (2023 - £ 452,488 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 21,980
DEPRECIATION
At 1 April 2023 5,037
Charge for year 4,236
At 31 March 2024 9,273
NET BOOK VALUE
At 31 March 2024 12,707
At 31 March 2023 16,943

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 124,516 227,379
Amounts recoverable on contract 82,181 52,255
Other debtors 114,598 37,964
321,295 317,598

G & R SCAFFOLDING LIMITED (REGISTERED NUMBER: 06502221)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 72,890 64,474
Hire purchase contracts 3,896 3,868
Payments on account (6,420 ) -
Trade creditors 38,124 73,793
Taxation and social security 139,560 59,774
Other creditors 37,889 58,213
285,939 260,122

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 169,570 265,219
Hire purchase contracts 13,750 17,466
183,320 282,685

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 26,516 144,827

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 242,460 329,693
Other loans 22,500 32,500
Hire purchase contracts 17,646 21,334
282,606 383,527

The bank overdraft is secured by all monies due or to become due from the company to Lloyds Bank Commercial Finance Limited on any account whatsoever registered dated 21st October 2015.

The bank loan is secured by a fixed and floating charge over all the property or undertaking of the company

The company has an Invoice discounting arrangement with it bankers. The liability is included in Other Creditors and is secured by a fixed and floating charge which covers all property or undertakings of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100
9,900 Ordinary A £1.00 9,900 9,900
10,000 10,000

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £13,041 (2022 £14,021). Contributions totalling £285 (2028 £89) were payable to the fund at the balance sheet date and are included within Other creditors.