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Company registration number: 05062393
J R Scaffolding Ltd
Unaudited filleted financial statements
31 December 2024
J R Scaffolding Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
J R Scaffolding Ltd
Directors and other information
Directors Mr John Richard Hughes
Mrs Rhiannon Hughes
Mr Kevin Hughes
Secretary Rhiannon Hughes
Company number 05062393
Registered office Old Station Yard
Station Road
Bethesda
Gwynedd
LL573NE
Business address Old Station Yard
Station Road
Bethesda
LL57 3NE
Accountants Parker, O'Regan, Tann & Co
Bangor Business Centre
2 Farrar Road
Bangor
Gwynedd
LL57 1LJ
J R Scaffolding Ltd
Chartered Certified accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of J R Scaffolding Ltd
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J R Scaffolding Ltd for the year ended 31 December 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com.
This report is made solely to the board of directors of J R Scaffolding Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of J R Scaffolding Ltd and state those matters that we have agreed to state to the board of directors of J R Scaffolding Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J R Scaffolding Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that J R Scaffolding Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J R Scaffolding Ltd. You consider that J R Scaffolding Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of J R Scaffolding Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Parker, O'Regan, Tann & Co
Chartered Certified Accountants
Bangor Business Centre
2 Farrar Road
Bangor
Gwynedd
LL57 1LJ
27 March 2025
J R Scaffolding Ltd
Statement of financial position
31 December 2024
Restated
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 520,157 529,630
_______ _______
520,157 529,630
Current assets
Debtors 6 310,833 248,561
Cash at bank and in hand 192,216 204,167
_______ _______
503,049 452,728
Creditors: amounts falling due
within one year 7 ( 156,273) ( 208,469)
_______ _______
Net current assets 346,776 244,259
_______ _______
Total assets less current liabilities 866,933 773,889
Creditors: amounts falling due
after more than one year 8 ( 8,576) ( 15,211)
Provisions for liabilities ( 100,311) ( 101,182)
_______ _______
Net assets 758,046 657,496
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 757,946 657,396
_______ _______
Shareholders funds 758,046 657,496
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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 Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr John Richard Hughes Mr Kevin Hughes
Director Director
Company registration number: 05062393
J R Scaffolding Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Old Station Yard, Station Road, Bethesda, Gwynedd, LL573NE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 0 %
Plant and machinery - 10 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2023: 28 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 January 2024 124,847 678,365 17,354 39,908 860,474
Additions - 37,480 1,430 - 38,910
Disposals - ( 11,467) - - ( 11,467)
_______ _______ _______ _______ _______
At 31 December 2024 124,847 704,378 18,784 39,908 887,917
_______ _______ _______ _______ _______
Depreciation
At 1 January 2024 - 279,495 11,734 39,615 330,844
Charge for the year - 41,915 705 29 42,649
Disposals - ( 5,733) - - ( 5,733)
_______ _______ _______ _______ _______
At 31 December 2024 - 315,677 12,439 39,644 367,760
_______ _______ _______ _______ _______
Carrying amount
At 31 December 2024 124,847 388,701 6,345 264 520,157
_______ _______ _______ _______ _______
At 31 December 2023 124,847 398,870 5,620 293 529,630
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 310,833 246,901
Other debtors - 1,660
_______ _______
310,833 248,561
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 16,539 33,617
Corporation tax 34,291 61,456
Social security and other taxes 17,098 -
Other creditors 88,345 113,396
_______ _______
156,273 208,469
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 8,576 15,211
_______ _______
9. Prior period errors
The comparatives have been adjusted for the provision of deferred tax. The provision as at 31 December 2023 amounted to £101,182 and the comparatives have been adjusted accordingly.