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REGISTERED NUMBER: 11998118 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

PROJECT SCAFFOLDING SW LTD

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

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


PROJECT SCAFFOLDING SW LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr A W Foster



REGISTERED OFFICE: Unit C
Wright's Farm
Clyst Hydon
Cullompton
Devon
EX15 2NB



REGISTERED NUMBER: 11998118 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: HSBC
Exeter Commercial Centre
Ground Floor Stratus House
Emperor Way
Exeter
Devon
EX1 3QS

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 217,560 211,595

CURRENT ASSETS
Stocks 5 100 100
Debtors 6 60,229 56,622
Cash at bank 1 1
60,330 56,723
CREDITORS
Amounts falling due within one year 7 94,622 83,735
NET CURRENT LIABILITIES (34,292 ) (27,012 )
TOTAL ASSETS LESS CURRENT LIABILITIES 183,268 184,583

CREDITORS
Amounts falling due after more than one
year

8

(86,859

)

(84,300

)

PROVISIONS FOR LIABILITIES (30,961 ) (29,829 )
NET ASSETS 65,448 70,454

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 65,398 70,404
SHAREHOLDERS' FUNDS 65,448 70,454

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.

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





Mr A W Foster - Director


PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

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


1. STATUTORY INFORMATION

Project Scaffolding SW Ltd 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.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

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


2. ACCOUNTING POLICIES - continued

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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 233,148 59,093 841 293,082
Additions 62,477 - 432 62,909
At 31 May 2024 295,625 59,093 1,273 355,991
DEPRECIATION
At 1 June 2023 60,931 20,346 210 81,487
Charge for year 46,939 9,687 318 56,944
At 31 May 2024 107,870 30,033 528 138,431
NET BOOK VALUE
At 31 May 2024 187,755 29,060 745 217,560
At 31 May 2023 172,217 38,747 631 211,595

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 69,991 30,990 100,981
DEPRECIATION
At 1 June 2023 13,998 7,748 21,746
Charge for year 11,199 5,811 17,010
At 31 May 2024 25,197 13,559 38,756
NET BOOK VALUE
At 31 May 2024 44,794 17,431 62,225
At 31 May 2023 55,993 23,242 79,235

5. STOCKS
2024 2023
£    £   
Stocks 100 100

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 57,748 28,372
Directors' current accounts 2,481 7,397
VAT - 13,666
60,229 49,435

Amounts falling due after more than one year:
Tax - 7,187

Aggregate amounts 60,229 56,622

PROJECT SCAFFOLDING SW LTD (REGISTERED NUMBER: 11998118)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 39,373 41,023
Hire purchase contracts 28,651 24,930
Trade creditors 1,604 4,931
Tax (100 ) -
Social security and other taxes 13,061 9,206
VAT 9,268 -
Other creditors 1,000 2,000
Accrued expenses 1,765 1,645
94,622 83,735

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 19,879 16,342
Bank loans - 2-5 years 28,275 249
Hire purchase contracts 38,705 67,709
86,859 84,300

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr A W Foster
Balance outstanding at start of year 7,397 9,529
Amounts advanced 47,598 46,832
Amounts repaid (52,514 ) (48,964 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,481 7,397

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £31,000 (2023 - £35,000) were paid to the director .

Included in Other Creditors are dividends to the Director's wife of £1,000.

11. GOVERNMENT GUARANTEED LOAN

The bank loan of £9,148.77 is a COVID-19 Bounce Back Loan guaranteed by the government. Term runs to June 2026