Company registration number 10950621 (England and Wales)
PALMERS SCAFFOLDING (NORTH WEST) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
PALMERS SCAFFOLDING (NORTH WEST) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PALMERS SCAFFOLDING (NORTH WEST) LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
30 June 2024
31 December 2023
Notes
£
£
£
£
Current assets
Debtors
4
100
508,748
Cash at bank and in hand
-
0
3
100
508,751
Creditors: amounts falling due within one year
5
-
0
(11,542)
Net current assets
100
497,209
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
-
0
497,109
Total equity
100
497,209

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 14 October 2024 and are signed on its behalf by:
Mr M T Carr
Director
Company registration number 10950621 (England and Wales)
PALMERS SCAFFOLDING (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Palmers Scaffolding (North West) Limited is a private company limited by shares incorporated in England and Wales. The registered office is International House, Aviation Park, Saltney Ferry, Chester, CH4 0GZ.

1.1
Reporting period

The current period covers the 6 months ended 30 June 2024, the date the company ceased to trade.

 

The comparative period covers the year ended 31 December 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Innovative Scaffold Services Limited. These consolidated financial statements are available from its registered office International House, Flint Road, Saltney Ferry, Chester, CH4 0GZ.

1.3
Going concern

Since the year end the company has settled its liabilities and collected its debts with a view to arranging for the company to be struck off the Register at Companies House before 31 December 2024. There are no accounting adjustments required to be made in the financial statements for the year ended 31 December 2023 as a result of this decision.true

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration generated from the hire of scaffolding equipment takes into account trade discounts, settlement discounts and volume rebates.

PALMERS SCAFFOLDING (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Turnover

All turnover arose within the United Kingdom.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2023: 1).

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
100
508,748
PALMERS SCAFFOLDING (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
11,542
6
Events after the reporting date

Since the year end the company has ceased to trade and the directors will be applying for the company to be struck off the Register at Companies House having settled all of its debts and received monies due to it.

7
Related party transactions

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

8
Parent company and ultimate controlling party

The ultimate controlling party is Mr C C Butt.

The company is a wholly owned subsidiary of Innovative Scaffold Services Limited, a company incorporated in England and Wales with a registered office of International House, Flint Road, Saltney Ferry, Chester, CH4 OGZ.

 

Innovative Scaffold Services Limited prepares consolidated financial statements which incorporate the results of the company. This is both the smallest and largest group for which consolidated financial statements are drawn up of which the company is a member.

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