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COMPANY REGISTRATION NUMBER: 04011171
FAST FIX SCAFFOLDING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
FAST FIX SCAFFOLDING LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
CONTENTS
PAGE
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
FAST FIX SCAFFOLDING LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
D W Hall
J Read
J Hall
T A Hall
S M Elliott
Registered office
Nuthurst Yard 16b Reigate Road
Hookwood
Horley
England
RH6 0HJ
Accountants
Wilkins Southworth
Chartered Certified Accountants
10-12 High Street
Barnes
London
SW13 9LW
FAST FIX SCAFFOLDING LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
5
1,057,897
532,681
CURRENT ASSETS
Debtors
6
1,437,220
930,393
Cash at bank and in hand
29,726
30,277
--------------
-----------
1,466,946
960,670
CREDITORS: amounts falling due within one year
7
( 1,400,012)
( 836,731)
--------------
-----------
NET CURRENT ASSETS
66,934
123,939
--------------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,124,831
656,620
CREDITORS: amounts falling due after more than one year
8
( 609,196)
( 20,000)
PROVISIONS
( 262,705)
( 131,013)
--------------
-----------
NET ASSETS
252,930
505,607
--------------
-----------
CAPITAL AND RESERVES
Called up share capital
22,000
22,000
Profit and loss account
230,930
483,607
-----------
-----------
SHAREHOLDERS FUNDS
252,930
505,607
-----------
-----------
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 income and retained earnings has not been delivered.
For the year ending 30 June 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 .
FAST FIX SCAFFOLDING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 31 March 2025 , and are signed on behalf of the board by:
S M Elliott
Director
Company registration number: 04011171
FAST FIX SCAFFOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 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 Nuthurst Yard 16b Reigate Road, Hookwood, Horley, RH6 0HJ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of 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 profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Plant and machinery
-
10% reducing balance
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Impairment of fixed assets
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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 and the performance 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. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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 as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 36 (2023: 29 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
2,167,472
10,600
262,706
2,440,778
Additions
634,488
11,083
645,571
--------------
---------
-----------
--------------
At 30 June 2024
2,801,960
10,600
273,789
3,086,349
--------------
---------
-----------
--------------
Depreciation
At 1 July 2023
1,636,960
8,431
262,706
1,908,097
Charge for the year
116,500
1,084
2,771
120,355
--------------
---------
-----------
--------------
At 30 June 2024
1,753,460
9,515
265,477
2,028,452
--------------
---------
-----------
--------------
Carrying amount
At 30 June 2024
1,048,500
1,085
8,312
1,057,897
--------------
---------
-----------
--------------
At 30 June 2023
530,512
2,169
532,681
--------------
---------
-----------
--------------
6. Debtors
2024
2023
£
£
Other debtors
1,437,220
930,393
--------------
-----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
349,332
63,302
Social security and other taxes
173,648
309,770
Other creditors
867,032
453,659
--------------
-----------
1,400,012
836,731
--------------
-----------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,000
20,000
Other creditors
599,196
-----------
---------
609,196
20,000
-----------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
67,640
67,640
Later than 1 year and not later than 5 years
186,010
253,650
-----------
-----------
253,650
321,290
-----------
-----------