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Registered number: 12891604









SITE CONTRACTING SERVICES LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
SITE CONTRACTING SERVICES LIMITED
REGISTERED NUMBER: 12891604

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Current assets
  

Stocks
  
-
2,050,000

Cash at bank and in hand
  
100
100

  
100
2,050,100

Creditors: amounts falling due within one year
 4 
(2,789,479)
(4,313,151)

Net current liabilities
  
 
 
(2,789,379)
 
 
(2,263,051)

Net liabilities
  
(2,789,379)
(2,263,051)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(2,789,479)
(2,263,151)

  
(2,789,379)
(2,263,051)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2025.




A M Morris
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
SITE CONTRACTING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Site Contracting Services Limited is a Company limited by shares, incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

As part of the going concern review, the director has followed the guidelines published by the Financial Reporting Council entitled "Going Concern and Liquidity Risk Guidance for UK Companies 2009". The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future as the Company expects to receive continuing financial support from the Brown and Mason group, a group of which the Company is a member of, and is the largest creditor at the year end. On this basis the director considers that the going concern basis of accounting remains appropriate.

Page 2

 
SITE CONTRACTING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract 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 all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Stocks

Stocks represent work in progress in relation to scrap arising from demolition work. This is released to the statement of income and retained earnings upon delivery of the scrap.

At each balance sheet date, work in progress is assessed for impairment and any impairment loss is recognised immediately in the statement of income and retained earnings.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
SITE CONTRACTING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2023 - 1).

Page 4

 
SITE CONTRACTING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
2,789,479
2,353,389

Accruals and deferred income
-
1,959,762

2,789,479
4,313,151



5.


Related party transactions

The Company has taken the exemption available under FRS 102 Section 33 'Related party transactions' not to dislclose inter-group information.


6.


Controlling party

The ultimate parent Company is NRLB Limited, a Company registered in England and Wales. Its registered office is Anson House, Schooner Court, Crossways Business Park, Dartford, Kent, DA2 6QQ.
The Company is included in the consolidated accounts prepared by NRLB Limited, and copies of those accounts can be obtained from Companies House.


7.


Auditor's information

The auditor's report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 30 January 2025 by Barnes Roffe LLP.

 
Page 5