REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2024 TO 31 DECEMBER 2024 |
FOR |
SYSTEM SCAFFOLD CONTRACTS LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2024 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 December 2024 |
DEPRECIATION |
At 1 July 2024 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 30 June 2024 |
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 |
Additions |
Transfer to ownership | (41,986 | ) | (12,215 | ) | (54,201 | ) |
At 31 December 2024 |
DEPRECIATION |
At 1 July 2024 |
Charge for period |
Transfer to ownership | (3,137 | ) | (7,813 | ) | (10,950 | ) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 30 June 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2024 |
£ | £ |
Trade debtors |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2024 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Hire purchase contracts (see note 8) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 2,924 | - |
Other creditors |
Directors' current accounts | 120,116 | 94,203 |
Accrued expenses |
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) |
8. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2024 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2024 |
£ | £ |
Bank overdraft |
Other loans |
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 |