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REGISTERED NUMBER: SC532905 (Scotland)
















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Wescott Scaffolding Limited

Wescott Scaffolding Limited (Registered number: SC532905)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wescott Scaffolding Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Sean Michael Scott
Gary Scott





REGISTERED OFFICE: 13-15 Crown Street
Ayr
KA8 8BY





REGISTERED NUMBER: SC532905 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Wescott Scaffolding Limited (Registered number: SC532905)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 87,500 102,500
Tangible assets 5 271,594 267,506
359,094 370,006

CURRENT ASSETS
Stocks 1,505 1,433
Debtors 6 132,486 228,856
Cash at bank and in hand 127,877 49,509
261,868 279,798
CREDITORS
Amounts falling due within one year 7 476,104 438,605
NET CURRENT LIABILITIES (214,236 ) (158,807 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,858

211,199

CREDITORS
Amounts falling due after more than one
year

8

(10,942

)

(78,587

)

PROVISIONS FOR LIABILITIES (41,226 ) (40,045 )
NET ASSETS 92,690 92,567

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 92,688 92,565
SHAREHOLDERS' FUNDS 92,690 92,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Wescott Scaffolding Limited (Registered number: SC532905)

Balance Sheet - continued
30 April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Gary Scott - Director


Wescott Scaffolding Limited (Registered number: SC532905)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Wescott Scaffolding Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Going concern
The company's working capital requirements are supported by a number of factors including extended credit from trade and other creditors and bank and hire purchase finance. The directors do review the company's financial requirements on a regular basis to ensure that as far as is possible incoming resources are adequate to meet commitments as they fall due. On the basis of all of the above , including the assumption that extended credit facilities from creditors will continue , the directors have prepared the accounts on a going concern basis.

Sales and equipment hire charges
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities.

Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met. Amounts outstanding and due at the financial year end are recorded as amounts recoverable on contracts.

Goodwill
Goodwill arising on an acquisition of a trade is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. Positive goodwill is capitalised and amortised through the profit and loss account over the director's estimate of its useful economic life which is 5 years. Impairment tests on the carrying value of goodwill are undertaken;

- at the end of the first full financial year following acquisition;
- in other period if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Wescott Scaffolding Limited (Registered number: SC532905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost less depreciation.

Taking account of the future residual value of freehold property and land, the directors are of the opinion that no depreciation charge on this asset is appropriate and has no material impact on the financial position being reported.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 year 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.

Wescott Scaffolding Limited (Registered number: SC532905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 16 ) .

Wescott Scaffolding Limited (Registered number: SC532905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 150,000
AMORTISATION
At 1 May 2023 47,500
Charge for year 15,000
At 30 April 2024 62,500
NET BOOK VALUE
At 30 April 2024 87,500
At 30 April 2023 102,500

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 103,800 176,653 53,245 1,027 334,725
Additions - - 23,400 - 23,400
At 30 April 2024 103,800 176,653 76,645 1,027 358,125
DEPRECIATION
At 1 May 2023 - 32,555 33,637 1,027 67,219
Charge for year - 14,410 4,902 - 19,312
At 30 April 2024 - 46,965 38,539 1,027 86,531
NET BOOK VALUE
At 30 April 2024 103,800 129,688 38,106 - 271,594
At 30 April 2023 103,800 144,098 19,608 - 267,506

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 69,430 221,536
Amounts recoverable on
contracts 24,883 7,237
Other debtors 38,173 83
132,486 228,856

Wescott Scaffolding Limited (Registered number: SC532905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 10,588 15,760
Taxation and social security 358,939 298,145
Other creditors 96,577 114,700
476,104 438,605

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,942 20,942
Other creditors - 57,645
10,942 78,587

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 20,942 30,942
Other creditors - 110,897
20,942 141,839

The bank loan is secured and interest is charged at a commercial rate of interest.

The other creditor is secured by way of standard security over the business premises.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. DIRECTORS' ADVANCES AND RELATED PARTY TRANSACTIONS

The loans from the director's are interest free and repayable on demand.

12. CONTROLLING PARTY

The company is controlled equally by both directors.