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Registration number: 04578718

Sonic Scaffolding 2000 Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2024

 

Sonic Scaffolding 2000 Limited

Contents

Abridged Statement of Financial Position

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 9

 

Sonic Scaffolding 2000 Limited

(Registration number: 04578718)
Abridged Statement of Financial Position as at 30 November 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

375,462

 

413,192

Current assets

   

 

Inventories

5

32,371

 

-

 

Debtors

6

322,643

 

248,039

 

Cash at bank and in hand

 

62,125

 

84,176

 

 

417,139

 

332,215

 

Prepayments and accrued income

 

37,450

 

13,411

 

Creditors: Amounts falling due within one year

7.1

(300,052)

 

(222,242)

 

Net current assets

   

154,537

 

123,384

Total assets less current liabilities

   

529,999

 

536,576

Creditors: Amounts falling due after more than one year

7.2

 

(347,512)

 

(240,581)

Provisions for liabilities

 

(52,464)

 

(51,428)

Net assets

   

130,023

 

244,567

Capital and reserves

   

 

Called up share capital

2

 

2

 

Profit and loss account

130,021

 

244,565

 

Shareholders funds

   

130,023

 

244,567

 

Sonic Scaffolding 2000 Limited

(Registration number: 04578718)
Abridged Statement of Financial Position as at 30 November 2024

For the financial year ending 30 November 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 6 June 2025
 

.........................................
Mr R Eaton
Director

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wyndhams Dairy
High Post Road
Winterbourne Dauntsey
Salisbury
SP4 6HG

These financial statements were authorised for issue by the director on 6 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The presentation currency is (£) sterling.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Current and deferred tax assets and liabilities are not discounted.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Fixtures and fittings

4 years straight line

Plant and machinery

15% reducing balance, plus 4 and 7 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, inventories are assessed for impairment. If inventories are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 22 (2023 - 21).

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Plant and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

588,190

326,264

914,454

Additions

51,424

25,950

77,374

At 30 November 2024

639,614

352,214

991,828

Depreciation

At 1 December 2023

317,289

183,973

501,262

Charge for the year

75,066

40,038

115,104

At 30 November 2024

392,355

224,011

616,366

Carrying amount

At 30 November 2024

247,259

128,203

375,462

At 30 November 2023

270,901

142,291

413,192

5

Inventories

2024
£

2023
£

Work in progress

29,226

-

Other inventories

3,145

-

32,371

-

6

Debtors

2024
£

2023
£

Trade debtors

287,895

225,744

Other debtors

34,748

22,295

322,643

248,039

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

137,991

89,410

Trade creditors

 

59,616

73,386

Taxation and social security

 

90,663

18,569

Accruals and deferred income

 

3,524

25,027

Other creditors

 

8,258

15,850

 

300,052

222,242

Current loans and borrowings

2024
£

2023
£

Bank borrowings

58,873

-

Other borrowings

14,858

32,711

HP and finance lease liabilities

64,260

56,699

137,991

89,410


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £64,260 (2023 - £56,699).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

347,512

240,581

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

285,160

-

Hire purchase contracts

62,352

94,973

Other borrowings

-

145,608

347,512

240,581


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £62,352 (2023 - £94,973).

 

Sonic Scaffolding 2000 Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of guarantees not included in the statement of financial position is £726,250 (2023 - £933,750). Sonic Scaffolding 2000 Limited, along with it's parent company, Sebic Group Ltd, jointly approved a guarantee and debenture dated 9th March 2023 to Mr C White and Mrs K White. The debenture is an all assets debenture.

Amounts disclosed in the statement of financial position

Included in the statement of financial position are guarantees of £250,000 (2023 - £Nil). The director, Mr R Eaton, has provided a personal guarantee (dated 26th November 2024) against a business loan from Credit4 Limited.

10

Parent and ultimate parent undertaking

Sonic Scaffolding 2000 Limited is owned and controlled by its parent company, Sebic Group Ltd
(Company No. 14339089).


 The company's immediate parent is Sebic Group Ltd, incorporated in England.