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Registered Number: 08547555
England and Wales

 

 

 

AKAY SCAFFOLDING LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3   792 
Tangible fixed assets 4 243,665    192,689 
243,665    193,481 
Current assets      
Debtors 5 142,362    134,710 
Cash at bank and in hand (8,011)   7,140 
134,351    141,850 
Creditors: amount falling due within one year 6 (224,917)   (182,640)
Net current assets (90,566)   (40,790)
 
Total assets less current liabilities 153,099    152,691 
Creditors: amount falling due after more than one year 7 (170,817)   (81,028)
Accruals and deferred income (3,649)   (1,630)
Provisions for liabilities 8 (20,848)   (28,431)
Net assets (42,215)   41,602 
 

Capital and reserves
     
Called up share capital 2    2 
Share premium account 9 2    2 
Profit and loss account (42,219)   41,598 
Shareholders' funds (42,215)   41,602 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 03 April 2025 and were signed on its behalf by:


-------------------------------
Andrew Kay
Director
1
General Information
Akay Scaffolding Limited is a private company, limited by shares, registered in England and Wales, registration number 08547555, registration address 1 Station House, Green Lane Ind Est, Pelaw, NE10 0UW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the going concern and the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
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, 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. 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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings Nil Straight Line
Plant and machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 24 (2023 : 18).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2023 95,000    95,000 
Additions  
Disposals  
At 31 October 2024 95,000    95,000 
Amortisation
At 01 November 2023 94,208    94,208 
Charge for year 792    792 
On disposals  
At 31 October 2024 95,000    95,000 
Net book values
At 31 October 2024  
At 31 October 2023 792    792 


4.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 November 2023 78,965    249,880    94,766    1,848    425,459 
Additions   127,821        127,821 
Disposals     (15,300)     (15,300)
At 31 October 2024 78,965    377,701    79,466    1,848    537,980 
Depreciation
At 01 November 2023   161,698    69,830    1,242    232,770 
Charge for year   69,806    6,775    264    76,845 
On disposals     (15,300)     (15,300)
At 31 October 2024   231,504    61,305    1,506    294,315 
Net book values
Closing balance as at 31 October 2024 78,965    146,197    18,161    342    243,665 
Opening balance as at 01 November 2023 78,965    88,182    24,936    606    192,689 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 114,949    125,709 
Other Debtors   150 
Prepayments & Accrued Income 11,759    8,851 
Corporation Tax 15,654   
142,362    134,710 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 23,892    37,568 
Bank Loans & Overdrafts 49,541    33,031 
Corporation Tax   15,655 
PAYE & Social Security 18,835    12,335 
Other Creditors 2,227    9,805 
Obligations under HP/Financial Leases 37,887    17,945 
Wages & Salaries Control Account 5,984   
Attachment of Earnings 92    92 
Directors' Current Accounts 53,859    31,803 
VAT 32,600    24,406 
224,917    182,640 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 126,573    41,522 
Obligations Under HP/Financial Leases 44,244    39,506 
170,817    81,028 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 20,848    28,431 
20,848    28,431 

9.

Share premium account

2024
£
  2023
£
Ordinary B Shares  
Ordinary A Shares  
 

10.

Directors advances, credits and guarantees

Included in creditors: amount falling due within one year are amounts owed to Directors of the Company of £53,859 (2023 - £31,803).
11.

Controlling party

The company's ultimate controlling parties are Mr and Mrs A Kay by virtue of their ownership of 100% if the issued share capital in the company.
2