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Registered number: 09209179










HI-PRO SCAFFOLDING HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
HI-PRO SCAFFOLDING HOLDINGS LIMITED
REGISTERED NUMBER: 09209179

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
29,716
39,620

Investments
 5 
1,229,753
1,229,753

  
1,259,469
1,269,373

Current assets
  

Debtors: amounts falling due within one year
 6 
70,000
70,000

Cash at bank and in hand
 7 
155,318
126,408

  
225,318
196,408

Creditors: amounts falling due within one year
 8 
(224,099)
(221,120)

Net current assets/(liabilities)
  
 
 
1,219
 
 
(24,712)

Total assets less current liabilities
  
1,260,688
1,244,661

  

Net assets
  
1,260,688
1,244,661


Capital and reserves
  

Called up share capital 
  
30
30

Profit and loss account
  
1,260,658
1,244,631

  
1,260,688
1,244,661


Page 1

 
HI-PRO SCAFFOLDING HOLDINGS LIMITED
REGISTERED NUMBER: 09209179
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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 by: 




................................................
Martin John Clinton
Director

Date: 21 March 2025

Page 2

 
HI-PRO SCAFFOLDING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Hi-Pro Scaffolding Holdings Limited is a private limited company, incorporated in England and Wales. 
The registered office and principal place of business is Unit 2, Beamish Close, Sandy SG19 1SD.

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

The Directors have looked forward 12 months and have concluded that the Company should be able
to operate within its current cash resources for the foreseeable future and therefore believe it is
appropriate to prepare these financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP presented to the nearest pound.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
HI-PRO SCAFFOLDING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
HI-PRO SCAFFOLDING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.

Depreciation is provided on the following basis:

Leasehold property improvements
-
5%
per annum on a straight line basis
Plant and machinery
-
25%
per annum on a reducing balance basis
Motor vehicles
-
25%
per annum on a reducing balance basis
Office equipment
-
25%
per annum on a reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
HI-PRO SCAFFOLDING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

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.

 
2.13

Financial instruments

The Company only enters into basic financial intrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments and ordinary shares.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
HI-PRO SCAFFOLDING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Leasehold property improv'ts
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
370,653
1,071,476
30,887
42,795
1,515,811



At 31 December 2024

370,653
1,071,476
30,887
42,795
1,515,811



Depreciation


At 1 January 2024
370,653
1,057,878
5,486
42,174
1,476,191


Charge for the year on owned assets
-
3,399
6,350
155
9,904



At 31 December 2024

370,653
1,061,277
11,836
42,329
1,486,095



Net book value



At 31 December 2024
-
10,199
19,051
466
29,716



At 31 December 2023
-
13,598
25,401
621
39,620


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
1,229,753



At 31 December 2024
1,229,753





6.


Debtors

2024
2023
£
£

Prepayments and accrued income
70,000
70,000


Page 7

 
HI-PRO SCAFFOLDING HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
155,318
126,408



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
188,305
187,283

Corporation tax
14,889
4,756

Other creditors
20,097
28,205

Accruals and deferred income
808
876

224,099
221,120



9.


Related party transactions

Dividends were paid to the Director's during the year, these totalled £134,076 (2023: £126,289).
The Directors have loan accounts with the Company and at 31 December 2024 were owed £20,097 (2023: £28,205) which is included in other creditors falling due within one year. Interest is charged on these balances at 8% per annum.
There was a balance due to the Company's subsidiary, Hi-Pro Scaffolding Limited, at 31 December 2024 of £188,305 (2023: £187,283).  No interest was charged on this loan and it is repayable on demand.
There were intercompany management charges during the year of £70,000 (2023: £70,000).

 
Page 8