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Frome Scaffolding Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04670332
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 163,295 171,793
163,295 171,793
CURRENT ASSETS
Debtors 6 155,936 129,562
Cash at bank and in hand 75,854 151,966
231,790 281,528
Creditors: Amounts Falling Due Within One Year 7 (337,015 ) (469,320 )
NET CURRENT ASSETS (LIABILITIES) (105,225 ) (187,792 )
TOTAL ASSETS LESS CURRENT LIABILITIES 58,070 (15,999 )
Creditors: Amounts Falling Due After More Than One Year 8 (32,271 ) (21,242 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,771 ) (25,773 )
NET ASSETS/(LIABILITIES) 28 (63,014 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 26 (63,016 )
SHAREHOLDERS' FUNDS 28 (63,014)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Arron Morgan
Director
20 January 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Frome Scaffolding Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04670332 . The registered office is Wellhead Farm, Chalford, Westbury, Wiltshire, BA13 3RB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 15% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 20)
22 20
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 40,096
As at 31 May 2024 40,096
Amortisation
As at 1 June 2023 40,096
As at 31 May 2024 40,096
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 90,712 274,477 490,791 7,937 863,917
Additions 4,335 4,682 57,825 1,591 68,433
Disposals - - (132,550 ) - (132,550 )
As at 31 May 2024 95,047 279,159 416,066 9,528 799,800
Depreciation
As at 1 June 2023 64,438 245,997 379,212 2,477 692,124
Provided during the period 9,505 8,290 37,109 1,058 55,962
Disposals - - (111,581 ) - (111,581 )
As at 31 May 2024 73,943 254,287 304,740 3,535 636,505
Net Book Value
As at 31 May 2024 21,104 24,872 111,326 5,993 163,295
As at 1 June 2023 26,274 28,480 111,579 5,460 171,793
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 116,003 127,697
Prepayments and accrued income 4,540 1,865
Other taxes and social security 35,393 -
155,936 129,562
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,546 -
Trade creditors 8,566 23,657
Bank loans and overdrafts 11,500 9,506
Corporation tax 20,231 9,204
Other taxes and social security - 14,404
VAT 10,316 24,180
Other creditors 16,439 71,205
Accruals and deferred income - 16,307
...CONTINUED
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Directors' loan accounts 155,152 300,857
Amounts owed to associates 112,265 -
337,015 469,320
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 23,014 -
Bank loans 9,257 21,242
32,271 21,242
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,546 -
Later than one year and not later than five years 23,014 -
25,560 -
25,560 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Capital Commitments
2024 2023
£ £
At the end of the period 65,800 -
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
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