Company registration number 04774039 (England and Wales)
DIRECT SCAFFOLDING (BRISTOL) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
DIRECT SCAFFOLDING (BRISTOL) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
DIRECT SCAFFOLDING (BRISTOL) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr D J Paget
Miss R White
Secretary
Miss R White
Company number
04774039
Registered office
30 - 31 St James Place
Mangotsfield
Bristol
South Glos.
United Kingdom
BS16 9JB
Accountants
TC Group
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
DIRECT SCAFFOLDING (BRISTOL) LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
6,236
6,236
Tangible assets
5
510,783
51,684
Investment property
6
500,000
440,000
1,017,019
497,920
Current assets
Debtors
7
739,404
439,950
Cash at bank and in hand
472,627
1,115,212
1,212,031
1,555,162
Creditors: amounts falling due within one year
8
(134,488)
(32,153)
Net current assets
1,077,543
1,523,009
Total assets less current liabilities
2,094,562
2,020,929
Provisions for liabilities
(48,009)
(31,348)
Net assets
2,046,553
1,989,581
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,046,453
1,989,481
Total equity
2,046,553
1,989,581
DIRECT SCAFFOLDING (BRISTOL) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 3 -
For the financial year ended 31 August 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 11 March 2025 and are signed on its behalf by:
Mr D J Paget
Miss R White
Director
Director
Company registration number 04774039 (England and Wales)
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
1
Accounting policies
Company information
Direct Scaffolding (Bristol) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 - 31 St James Place, Mangotsfield, Bristol, South Glos., United Kingdom, BS16 9JB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.
1.4
Intangible fixed assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Other is being amortised evenly over its estimated useful life of nil years.
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation
Plant and equipment
25% on reducing balance
Equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 6 -
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
4
Intangible fixed assets
Goodwill
Other intangible assets
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
75,000
6,236
81,236
Amortisation and impairment
At 1 September 2023 and 31 August 2024
75,000
75,000
Carrying amount
At 31 August 2024
6,236
6,236
At 31 August 2023
6,236
6,236
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
5
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2023
19,521
110,042
129,563
Additions
463,365
13,663
9,552
486,580
Disposals
(41,558)
(41,558)
At 31 August 2024
463,365
13,663
19,521
78,036
574,585
Depreciation and impairment
At 1 September 2023
16,116
61,763
77,879
Depreciation charged in the year
2,847
853
12,548
16,248
Eliminated in respect of disposals
(30,325)
(30,325)
At 31 August 2024
2,847
16,969
43,986
63,802
Carrying amount
At 31 August 2024
463,365
10,816
2,552
34,050
510,783
At 31 August 2023
3,405
48,279
51,684
6
Investment property
2024
£
Fair value
At 1 September 2023
440,000
Revaluations
60,000
At 31 August 2024
500,000
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
6
Investment property
(Continued)
- 8 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
355,386
355,386
Accumulated depreciation
-
-
Carrying amount
355,386
355,386
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
51,774
14,376
Other debtors
501,655
142,983
553,429
157,359
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
185,975
282,591
Total debtors
739,404
439,950
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,648
Taxation and social security
131,663
26,735
Other creditors
2,825
2,770
134,488
32,153
DIRECT SCAFFOLDING (BRISTOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
9
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
84,614
175,397
Non distributable profits in the year
23,846
(90,783)
At the end of the year
108,460
84,614
10
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr D J Paget -
-
58,971
185,687
(58,971)
185,687
Miss R White -
-
58,971
185,687
(58,971)
185,687
117,942
371,374
(117,942)
371,374