Registered number
14126035
ASGARD SCAFFOLDING LIMITED
Filleted Accounts
31 May 2024
ASGARD SCAFFOLDING LIMITED
Registered number: 14126035
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,525 11,906
Current assets
Stocks 1,180 1,020
Cash at bank and in hand 989 10
2,169 1,030
Creditors: amounts falling due within one year 4 (12,824) (9,982)
Net current liabilities (10,655) (8,952)
Net (liabilities)/assets (1,130) 2,954
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,131) 2,953
Shareholders' funds (1,130) 2,954
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
DANIEL STOYKOV
Director
Approved by the board on 13 February 2025
ASGARD SCAFFOLDING LIMITED
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 14,882
At 31 May 2024 14,882
Depreciation
At 1 June 2023 2,976
Charge for the year 2,381
At 31 May 2024 5,357
Net book value
At 31 May 2024 9,525
At 31 May 2023 11,906
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 762 762
Directors Loan Account 11,102 8,620
Accountancy 960 600
12,824 9,982
5 Other information
ASGARD SCAFFOLDING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
FLAT 20 QUEENS HOUSE
6 HOLLY ROAD
TWICKENHAM
TW1 4EG
ASGARD SCAFFOLDING LIMITED 14126035 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 DANIEL STOYKOV No description of principal activity 14126035 2022-06-01 2023-05-31 14126035 core:WithinOneYear 2023-05-31 14126035 core:ShareCapital 2023-05-31 14126035 core:RetainedEarningsAccumulatedLosses 2023-05-31 14126035 2023-06-01 2024-05-31 14126035 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14126035 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14126035 bus:Director40 2023-06-01 2024-05-31 14126035 1 2023-06-01 2024-05-31 14126035 2 2023-06-01 2024-05-31 14126035 core:PlantMachinery 2023-06-01 2024-05-31 14126035 countries:England 2023-06-01 2024-05-31 14126035 bus:FRS102 2023-06-01 2024-05-31 14126035 bus:FilletedAccounts 2023-06-01 2024-05-31 14126035 2024-05-31 14126035 core:WithinOneYear 2024-05-31 14126035 core:ShareCapital 2024-05-31 14126035 core:RetainedEarningsAccumulatedLosses 2024-05-31 14126035 core:PlantMachinery 2024-05-31 14126035 2023-05-31 14126035 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure