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REGISTERED NUMBER: 07976227 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

SCB Groundworks Limited

SCB Groundworks Limited (Registered number: 07976227)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCB Groundworks Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: S Conway-Baker





SECRETARY: Ms D Stimpson





REGISTERED OFFICE: Highburrow Lane
Wilson Way
Pool Industrial Estate
Redruth
Cornwall
TR15 3RN





REGISTERED NUMBER: 07976227 (England and Wales)





ACCOUNTANTS: Colin Truscott Accountancy Limited
9 Heron Close
Tresillian
Cornwall
TR2 4BH

SCB Groundworks Limited (Registered number: 07976227)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 365,305 432,135

CURRENT ASSETS
Stocks 324,366 24,761
Debtors 5 481,361 576,652
Cash at bank 196,401 236,278
1,002,128 837,691
CREDITORS
Amounts falling due within one year 6 718,233 679,492
NET CURRENT ASSETS 283,895 158,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,200

590,334

CREDITORS
Amounts falling due after more than
one year

7

(74,500

)

(140,602

)

PROVISIONS FOR LIABILITIES (28,805 ) (64,465 )
NET ASSETS 545,895 385,267

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 545,894 385,266
545,895 385,267

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SCB Groundworks Limited (Registered number: 07976227)

Balance Sheet - continued
31 May 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 January 2025 and were signed by:





S Conway-Baker - Director


SCB Groundworks Limited (Registered number: 07976227)

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

1. STATUTORY INFORMATION

SCB Groundworks 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.

2. ACCOUNTING POLICIES

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

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when the amount of revenue, stage of completion and costs incurred can be measured reliably.Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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 income statement.


SCB Groundworks Limited (Registered number: 07976227)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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.

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

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 25 (2023 - 31 ) .

SCB Groundworks Limited (Registered number: 07976227)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 902,739
Additions 3,100
At 31 May 2024 905,839
DEPRECIATION
At 1 June 2023 470,604
Charge for year 69,930
At 31 May 2024 540,534
NET BOOK VALUE
At 31 May 2024 365,305
At 31 May 2023 432,135

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

Plant and
machinery
etc
£   
COST
At 1 June 2023 351,500
Transfer to ownership (168,000 )
At 31 May 2024 183,500
DEPRECIATION
At 1 June 2023 105,645
Charge for year 23,396
Transfer to ownership (78,120 )
At 31 May 2024 50,921
NET BOOK VALUE
At 31 May 2024 132,579
At 31 May 2023 245,855

SCB Groundworks Limited (Registered number: 07976227)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 481,361 563,138
Other debtors - 13,514
481,361 576,652

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 32,727 32,727
Hire purchase contracts 33,375 54,997
Trade creditors 437,106 433,975
Social security and other taxes 21,398 12,380
VAT 94,840 -
Other creditors 2,614 373
CIS liability 11,956 6,667
Directors' current accounts 79,213 87,406
Accrued expenses 5,004 50,967
718,233 679,492

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 30,000 32,727
Bank loans - 2-5 years - 30,000
Hire purchase contracts 44,500 77,875
74,500 140,602

8. ULTIMATE CONTROLLING PARTY

The controlling party is S Conway-Baker.