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REGISTERED NUMBER: 03957143 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2024

FOR

SYSTEM SCAFFOLD CONTRACTS LIMITED

SYSTEM SCAFFOLD CONTRACTS LIMITED (REGISTERED NUMBER: 03957143)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SYSTEM SCAFFOLD CONTRACTS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2024







DIRECTOR: P R Bennett





REGISTERED OFFICE: 3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW





BUSINESS ADDRESS: 28 Park Avenue Industrial Estate
Sundon Park
Luton
Bedfordshire
LU3 3BP





REGISTERED NUMBER: 03957143 (England and Wales)





ACCOUNTANTS: GKP (Ampthill) Limited
Chartered Accountants
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

SYSTEM SCAFFOLD CONTRACTS LIMITED (REGISTERED NUMBER: 03957143)

BALANCE SHEET
31 DECEMBER 2024

2024 2024
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1,269,631 1,303,629

CURRENT ASSETS
Debtors 5 94,204 174,999

CREDITORS
Amounts falling due within one year 6 558,448 612,389
NET CURRENT LIABILITIES (464,244 ) (437,390 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

805,387

866,239

CREDITORS
Amounts falling due after more than one
year

7

(37,367

)

(86,214

)

PROVISIONS FOR LIABILITIES (241,230 ) (246,383 )
NET ASSETS 526,790 533,642

CAPITAL AND RESERVES
Called up share capital 202 202
Revaluation reserve 10 240,666 240,666
Retained earnings 285,922 292,774
SHAREHOLDERS' FUNDS 526,790 533,642

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SYSTEM SCAFFOLD CONTRACTS LIMITED (REGISTERED NUMBER: 03957143)

BALANCE SHEET - continued
31 DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 March 2025 and were signed by:





P R Bennett - Director


SYSTEM SCAFFOLD CONTRACTS LIMITED (REGISTERED NUMBER: 03957143)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2024


1. STATUTORY INFORMATION

System Scaffold Contracts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in accounting policies
Plant and machinery relates to scaffolding equipment. There has been a change in accounting policy during the year and plant and machinery has changed from cost model to revaluation model.The directors believe this provides more relevant and reliable information as the cost of scaffolding equipment has increased significantly.

All other classes of fixed assets remain on the cost model.

There is not a revalued figure in the previous year as these figures cannot be restated retrospectively. It has not been practical to determine any change in the prior period due to recent changes in material price.

Turnover
Turnover represents the sale of services relating to the provision of scaffolding supplies, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 2.5% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 30% on cost

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SYSTEM SCAFFOLD CONTRACTS LIMITED (REGISTERED NUMBER: 03957143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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 period 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2024 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 July 2024 1,855,979 14,568 274,148 30,974 2,175,669
Additions 13,318 - 27,716 - 41,034
Disposals (35,246 ) - (12,215 ) - (47,461 )
At 31 December 2024 1,834,051 14,568 289,649 30,974 2,169,242
DEPRECIATION
At 1 July 2024 616,308 13,336 213,316 30,787 873,747
Charge for period 23,366 1,203 21,037 132 45,738
Eliminated on disposal (12,061 ) - (7,813 ) - (19,874 )
At 31 December 2024 627,613 14,539 226,540 30,919 899,611
NET BOOK VALUE
At 31 December 2024 1,206,438 29 63,109 55 1,269,631
At 30 June 2024 1,239,671 1,232 60,832 187 1,301,922

SYSTEM SCAFFOLD CONTRACTS LIMITED (REGISTERED NUMBER: 03957143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 July 2024 41,986 266,149 308,135
Additions - 27,716 27,716
Transfer to ownership (41,986 ) (12,215 ) (54,201 )
At 31 December 2024 - 281,650 281,650
DEPRECIATION
At 1 July 2024 3,137 205,917 209,054
Charge for period - 20,886 20,886
Transfer to ownership (3,137 ) (7,813 ) (10,950 )
At 31 December 2024 - 218,990 218,990
NET BOOK VALUE
At 31 December 2024 - 62,660 62,660
At 30 June 2024 38,849 60,232 99,081

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£ £
Trade debtors 60,687 136,399
VAT - 3,042
Prepayments 33,517 35,558
94,204 174,999

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£ £
Bank loans and overdrafts 59,796 83,351
Other loans 166,515 176,313
Hire purchase contracts (see note 8) 41,495 44,857
Trade creditors 83,682 138,029
Tax 13,553 14,991
Social security and other taxes 51,594 40,533
VAT 2,924 -
Other creditors 14,395 17,734
Directors' current accounts 120,116 94,203
Accrued expenses 4,378 2,378
558,448 612,389

SYSTEM SCAFFOLD CONTRACTS LIMITED (REGISTERED NUMBER: 03957143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2024
£ £
Other loans - 1-2 years 9,669 38,674
Hire purchase contracts (see note 8) 27,698 47,540
37,367 86,214

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2024
£ £
Net obligations repayable:
Within one year 41,495 44,857
Between one and five years 27,698 47,540
69,193 92,397

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2024
£ £
Bank overdraft 59,796 -
Other loans 176,184 -
235,980 -

Hire purchase liabilities are secured on the assets acquired.

Bank borrowings are secured by a fixed and floating charge over the assets of the company together with a personal guarantee from the director, P Bennett.

10. RESERVES
Revaluation
reserve
£
At 1 July 2024
and 31 December 2024 240,666