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Company No: 02692767 (England and Wales)

BLENCOWE SCAFFOLDING LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

BLENCOWE SCAFFOLDING LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

BLENCOWE SCAFFOLDING LIMITED

BALANCE SHEET

As at 30 June 2024
BLENCOWE SCAFFOLDING LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 2,979,045 3,253,244
2,979,045 3,253,244
Current assets
Debtors 5 612,144 666,149
Cash at bank and in hand 236,759 183,591
848,903 849,740
Creditors: amounts falling due within one year 6 ( 494,679) ( 562,672)
Net current assets 354,224 287,068
Total assets less current liabilities 3,333,269 3,540,312
Creditors: amounts falling due after more than one year ( 229,421) ( 59,071)
Provision for liabilities ( 552,251) ( 586,947)
Net assets 2,551,597 2,894,294
Capital and reserves
Called-up share capital 7 100,000 100,000
Revaluation reserve 830,139 922,377
Profit and loss account 1,621,458 1,871,917
Total shareholders' funds 2,551,597 2,894,294

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Blencowe Scaffolding Limited (registered number: 02692767) were approved and authorised for issue by the Board of Directors on 06 March 2025. They were signed on its behalf by:

P E R Blencowe
Director
BLENCOWE SCAFFOLDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
BLENCOWE SCAFFOLDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Blencowe Scaffolding Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1 Fieldfare Business Park, Old Malthouse Lane Ford, Salisbury, SP4 6DR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale and goods and services to customers.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 2 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 % reducing balance
Vehicles 15 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 60 57

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 224,000 224,000
At 30 June 2024 224,000 224,000
Accumulated amortisation
At 01 July 2023 224,000 224,000
At 30 June 2024 224,000 224,000
Net book value
At 30 June 2024 0 0
At 30 June 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 July 2023 6,002,377 1,173,561 131,619 7,307,557
Additions 47,437 27,000 969 75,406
Disposals 0 ( 9,995) 0 ( 9,995)
At 30 June 2024 6,049,814 1,190,566 132,588 7,372,968
Accumulated depreciation
At 01 July 2023 2,996,919 941,313 116,081 4,054,313
Charge for the financial year 305,305 38,662 4,127 348,094
Disposals 0 ( 8,484) 0 ( 8,484)
At 30 June 2024 3,302,224 971,491 120,208 4,393,923
Net book value
At 30 June 2024 2,747,590 219,075 12,380 2,979,045
At 30 June 2023 3,005,458 232,248 15,538 3,253,244

The fair value of the company's Plant and machinery was revalued on 30 June 2022 by the directors of the company. This valuation was calculated using open market value.

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,716,064 (2023- £1,906,738)

5. Debtors

2024 2023
£ £
Trade debtors 612,144 666,149

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 11,140 24,709
Trade creditors 61,691 42,517
Accruals 66,105 100,059
Other taxation and social security 68,411 96,584
Obligations under finance leases and hire purchase contracts 104,763 34,136
Other creditors 182,569 264,667
494,679 562,672

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
25,250 Ordinary A shares of £ 1.00 each 25,250 25,250
25,250 Ordinary B shares of £ 1.00 each 25,250 25,250
49,500 Ordinary C shares of £ 1.00 each 49,500 49,500
100,000 100,000

8. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet is £520,348 (2023- £502,436). The total commitments due within one year £177,806 ( 2023- £151,802).

9. Loans and borrowings

Loans and borrowings due after one year

2024 2023
£ £
HP and finance lease liabilities 229,421 59,071

Current loan and borrowings

2024 2023
£ £
Bank borrowings 0 24,709
Hire purchase contracts 104,761 34,136
104,761 58,845

Included with the current and non current creditors are finance leases amounting to £334,182 ( 2023- £93,207) on which security has been given by the company.

10. Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

2024 2023
£ £
Surplus/ deficit on property, plant and equipment revaluation 30,746 21,863