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Company No: 14298001 (England and Wales)

SOUTH WEST ACCESS SCAFFOLDING LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

SOUTH WEST ACCESS SCAFFOLDING LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

SOUTH WEST ACCESS SCAFFOLDING LIMITED

BALANCE SHEET

As at 31 August 2024
SOUTH WEST ACCESS SCAFFOLDING LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 31.08.2024 31.08.2023
£ £
Fixed assets
Tangible assets 3 72,603 76,063
72,603 76,063
Current assets
Debtors 4 5,610 5,010
Cash at bank and in hand 340 3,014
5,950 8,024
Creditors: amounts falling due within one year 5 ( 46,778) ( 43,428)
Net current liabilities (40,828) (35,404)
Total assets less current liabilities 31,775 40,659
Provision for liabilities ( 6,503) ( 8,724)
Net assets 25,272 31,935
Capital and reserves
Called-up share capital 6 10 10
Revaluation reserve 48,031 48,031
Profit and loss account ( 22,769 ) ( 16,106 )
Total shareholder's funds 25,272 31,935

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of South West Access Scaffolding Limited (registered number: 14298001) were approved and authorised for issue by the Director on 06 May 2025. They were signed on its behalf by:

Mr M Stimpson
Director
SOUTH WEST ACCESS SCAFFOLDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
SOUTH WEST ACCESS SCAFFOLDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

South West Access Scaffolding Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 4 years straight line
Tools and equipment 5 - 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
31.08.2024
Period from
16.08.2022 to
31.08.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Vehicles Tools and equipment Total
£ £ £
Cost
At 01 September 2023 3,300 78,739 82,039
Additions 4,000 0 4,000
At 31 August 2024 7,300 78,739 86,039
Accumulated depreciation
At 01 September 2023 206 5,770 5,976
Charge for the financial year 1,690 5,770 7,460
At 31 August 2024 1,896 11,540 13,436
Net book value
At 31 August 2024 5,404 67,199 72,603
At 31 August 2023 3,094 72,969 76,063

4. Debtors

31.08.2024 31.08.2023
£ £
Trade debtors 2,100 0
Other debtors 3,510 5,010
5,610 5,010

5. Creditors: amounts falling due within one year

31.08.2024 31.08.2023
£ £
Trade creditors 2,100 0
Amounts owed to associates 40,227 19,000
Other taxation and social security 2,200 2,200
Other creditors 2,251 22,228
46,778 43,428

6. Called-up share capital

31.08.2024 31.08.2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.01 each 10 10