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Registration number: 04853978

Exe Scaffolding Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Exe Scaffolding Limited
(Registration number: 04853978)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Exe Scaffolding Limited
(Registration number: 04853978)

Company Information

Director

R P Phare

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Exe Scaffolding Limited
(Registration number: 04853978)

Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,942

3,845

Current assets

 

Debtors

5

88,629

85,285

Cash at bank and in hand

 

20,600

23,214

 

109,229

108,499

Creditors: Amounts falling due within one year

6

(10,546)

(47,242)

Net current assets

 

98,683

61,257

Total assets less current liabilities

 

115,625

65,102

Creditors: Amounts falling due after more than one year

6

(14,226)

(594)

Provisions for liabilities

(4,234)

(960)

Net assets

 

97,165

63,548

Capital and reserves

 

Called up share capital

500

500

Retained earnings

96,665

63,048

Shareholders' funds

 

97,165

63,548

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Exe Scaffolding Limited
(Registration number: 04853978)

Balance Sheet as at 30 June 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 February 2025
 

.........................................
R P Phare
Director

 

Exe Scaffolding Limited
(Registration number: 04853978)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Exe Scaffolding Limited
(Registration number: 04853978)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & equipment

15% reducing balance

Fixtures,fittings and equipment

25 % straight line

Vehicles

25 % straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Exe Scaffolding Limited
(Registration number: 04853978)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Exe Scaffolding Limited
(Registration number: 04853978)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

47,657

27,189

9,719

84,565

Additions

-

14,738

-

14,738

At 30 June 2024

47,657

41,927

9,719

99,303

Depreciation

At 1 July 2023

46,986

27,188

6,546

80,720

Charge for the year

244

921

476

1,641

At 30 June 2024

47,230

28,109

7,022

82,361

Carrying amount

At 30 June 2024

427

13,818

2,697

16,942

At 30 June 2023

671

1

3,173

3,845

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

82,000

82,000

Other debtors

 

5,981

1,641

Prepayments and accrued income

 

648

1,644

Total current trade and other debtors

 

88,629

85,285

 

Exe Scaffolding Limited
(Registration number: 04853978)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

3,132

1,751

Trade creditors

 

-

314

Taxation and social security

 

5,386

12,971

Other creditors

 

88

30,266

Accrued expenses

 

1,940

1,940

 

10,546

47,242


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £3,132 (2023 - £1,751).

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

14,226

594


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £14,226 (2023 - £594).

7

Parent and ultimate parent undertaking

The company's immediate parent is Exe Scaffolding (Western) Limited, incorporated in the UK.