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Company No: 09334738 (England and Wales)

ACORN SCAFFOLDING LIMITED

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

ACORN SCAFFOLDING LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

ACORN SCAFFOLDING LIMITED

BALANCE SHEET

As at 31 December 2024
ACORN SCAFFOLDING LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 248,589 285,470
248,589 285,470
Current assets
Stocks 25,000 25,000
Debtors 4 89,739 91,028
Cash at bank and in hand 30,001 14,899
144,740 130,927
Creditors: amounts falling due within one year 5 ( 86,954) ( 152,599)
Net current assets/(liabilities) 57,786 (21,672)
Total assets less current liabilities 306,375 263,798
Creditors: amounts falling due after more than one year 6 ( 101,182) ( 148,318)
Provision for liabilities ( 63,078) ( 39,178)
Net assets 142,115 76,302
Capital and reserves
Called-up share capital 21,000 21,000
Revaluation reserve 46,060 54,188
Profit and loss account 75,055 1,114
Total shareholders' funds 142,115 76,302

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Acorn Scaffolding Limited (registered number: 09334738) were approved and authorised for issue by the Board of Directors on 09 June 2025. They were signed on its behalf by:

J E Austin
Director
ACORN SCAFFOLDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
ACORN SCAFFOLDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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 year, unless otherwise stated.

General information and basis of accounting

Acorn 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 The Old Dairy Stanmoor Road, Burrowbridge, Bridgwater, TA7 0RX, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for scaffolding services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised depending on the size and the duration of the work. For large contracts turnover is either recognised monthly or partly at the erection of scaffolding and partly when dismantled. For smaller or single projects it is recognised once all the scaffold has been erected and fully handed over.

Employee benefits

Defined benefit schemes
For defined benefit schemes the amounts charged to operating profit are the costs arising from employee services rendered during the period and the cost of plan introductions, benefit changes, settlements and curtailments. They are included as part of staff costs. The net interest cost on the net defined benefit liability is charged to the Profit and Loss Account and included within finance costs. Remeasurement comprising actuarial gains and losses and the return on scheme assets (excluding amounts included in net interest on the net defined benefit liability) are recognised immediately in the Statement of Comprehensive Income.

Defined benefit schemes are funded, with the assets of the scheme held separately from those of the Company, in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method. Actuarial valuations are obtained at least triennially and are updated at each Balance Sheet date.

The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial valuations.

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

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. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 33 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 12

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Computer equipment Total
£ £ £ £ £
Cost
At 01 January 2024 7,326 556,616 59,794 8,900 632,636
Additions 0 7,214 3,500 149 10,863
At 31 December 2024 7,326 563,830 63,294 9,049 643,499
Accumulated depreciation
At 01 January 2024 7,326 299,467 32,460 7,913 347,166
Charge for the financial year 0 39,662 7,708 374 47,744
At 31 December 2024 7,326 339,129 40,168 8,287 394,910
Net book value
At 31 December 2024 0 224,701 23,126 762 248,589
At 31 December 2023 0 257,149 27,334 987 285,470

If plant and machinery was held at historic cost, the net book value would be £163,289 (2023: £184,898). The historic cost would be £463,833 (2023: £456,617) and depreciation would be £300,543 (2023: £271,719).

4. Debtors

2024 2023
£ £
Trade debtors 88,295 88,913
Other debtors 1,444 2,115
89,739 91,028

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 38,122 53,984
Trade creditors 6,870 27,474
Taxation and social security 4,150 1,277
Obligations under finance leases and hire purchase contracts (secured) 9,016 9,014
Other creditors 28,796 60,850
86,954 152,599

Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

Included within bank loans is an amount of which £Nil (2023: £24,000) is secured by a personal guarantee made by J Austin & W David.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 86,618 124,739
Obligations under finance leases and hire purchase contracts (secured) 14,564 23,579
101,182 148,318

Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate

7. Financial commitments

Other financial commitments

2024 2023
£ £
Total commitments under non-cancellable operating leases not provided for in the accounts 2,823 8,470