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S J SCAFFOLDING (LINCOLN) LTD.

Registered Number
02742928
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

S J SCAFFOLDING (LINCOLN) LTD.
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Mr Martin Robert Coleman
Mr Daniel Jessep

Registered Address

12 Tentercroft Street
Lincoln
Lincolnshire
LN5 7DB

Place of Business

Unit 23 Clayton Road

Lincoln

Lincolnshire

LN5 8RE


Registered Number

02742928 (England and Wales)
S J SCAFFOLDING (LINCOLN) LTD.
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3333,869347,650
333,869347,650
Current assets
Debtors4651,162599,498
Cash at bank and on hand26,02183,910
677,183683,408
Creditors amounts falling due within one year5(226,165)(230,050)
Net current assets (liabilities)451,018453,358
Total assets less current liabilities784,887801,008
Creditors amounts falling due after one year6(83,164)(98,868)
Provisions for liabilities9(82,070)(85,049)
Net assets619,653617,091
Capital and reserves
Called up share capital22
Profit and loss account619,651617,089
Shareholders' funds619,653617,091
The financial statements were approved and authorised for issue by the Board of Directors on 10 March 2025, and are signed on its behalf by:
Mr Daniel Jessep
Director
Mr Martin Robert Coleman
Director

Registered Company No. 02742928
S J SCAFFOLDING (LINCOLN) LTD.
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by share capital and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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 from sale of goods
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.
Operating 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
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.
Borrowing costs
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.
Current taxation
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible fixed assets and depreciation
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:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles20
Office Equipment20
Finance leases and hire purchase contracts
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.
Trade and other 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.
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 and other 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.
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.
Government grants or assistance
Government grants are accounted for using either the performance model or the accruals model, depending on the class of the grant. Income from grants classed under the performance model is recognised when any performance conditions are met, which may be immediately if there are no performance conditions. Income from grants classed under the accruals model is recognised systematically over the period in which related costs are recognised or, if related to an asset, over the useful life of that asset.
2.Average number of employees

20242023
Average number of employees during the year3033
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 July 2320,43955,307162,764707,86518,013964,388
Additions--6,00061,51563468,149
At 30 June 2420,43955,307168,764769,38018,6471,032,537
Depreciation and impairment
At 01 July 2311,23945,06966,964477,74215,724616,738
Charge for year2,3012,04625,20051,79858581,930
At 30 June 2413,54047,11592,164529,54016,309698,668
Net book value
At 30 June 246,8998,19276,600239,8402,338333,869
At 30 June 239,20010,23895,800230,1232,289347,650
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables268,786279,096
Amounts owed by group undertakings314,217258,002
Other debtors30,40927,009
Prepayments and accrued income37,75035,391
Total651,162599,498
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables30,37445,280
Bank borrowings and overdrafts10,0569,808
Taxation and social security65,46785,114
Finance lease and HP contracts48,70335,325
Other creditors24,61619,036
Accrued liabilities and deferred income46,94935,487
Total226,165230,050
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts18,21428,271
Other creditors64,95070,597
Total83,16498,868
7.Secured creditors
Hire purchase is denominated in £ with a nominal interest rate of market rates, and the final instalments are due at varying dates. The carrying amount at year end is £113,653 (2023: £105,922). The hire purchase liabilities are secured over the assets.
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts64,95070,597
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)82,07085,049
Total82,07085,049
10.Other commitments
Bank Borrowings Bank Loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 16 March 2027. The carrying amount at year end is £28,270 (2023: £38,079).