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Registration number: 06455823

Midland & General Scaffolding Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 30 June 2024

 

Midland & General Scaffolding Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Midland & General Scaffolding Ltd

Company Information

Directors

Ms D Leadbeater

Mrs J Godwin

Mr MJ Leadbeater

Mr J A Buchanan

Registered office

4 Tannery Close
Rugeley
Staffordshire
WS15 2HR

Accountants

HML Davies Ltd
Chartered Certified Accountants9 Riverside
Waters Meeting Road
Bolton
BL1 8TU

 

Midland & General Scaffolding Ltd

(Registration number: 06455823)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,779,333

1,712,559

Current assets

 

Stocks

5

31,755

32,175

Debtors

6

1,822,464

1,315,462

Cash at bank and in hand

 

520,392

630,722

 

2,374,611

1,978,359

Creditors: Amounts falling due within one year

7

(513,315)

(267,312)

Net current assets

 

1,861,296

1,711,047

Total assets less current liabilities

 

3,640,629

3,423,606

Provisions for liabilities

(406,934)

(378,292)

Net assets

 

3,233,695

3,045,314

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

3,233,495

3,045,114

Shareholders' funds

 

3,233,695

3,045,314

For the financial period 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 April 2025 and signed on its behalf by:
 

 

Midland & General Scaffolding Ltd

(Registration number: 06455823)
Balance Sheet as at 30 June 2024

.........................................
Ms D Leadbeater
Director

.........................................
Mr J A Buchanan
Director

 

Midland & General Scaffolding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 June 2024

1

General information

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

The address of its registered office is:
4 Tannery Close
Rugeley
Staffordshire
WS15 2HR

These financial statements were authorised for issue by the Board on 24 April 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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

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

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.

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.

 

Midland & General Scaffolding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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 & fittings

15% reducing balance

Plant & machinery

10% reducing balance

Office equipment

25% reducing balance

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.

Stocks

Stocks 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, stocks are assessed for impairment. If stocks 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.

 

Midland & General Scaffolding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 June 2024

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 profit and loss account 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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 60 (2023 - 61).

 

Midland & General Scaffolding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 June 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2023

9,179

2,918,726

32,544

261,648

Additions

1,700

287,056

239

68,650

Disposals

(3,718)

-

(19,599)

(30,790)

At 30 June 2024

7,161

3,205,782

13,184

299,508

Depreciation

At 1 April 2023

4,662

1,326,142

22,585

156,149

Charge for the period

980

222,795

2,388

49,482

Eliminated on disposal

(2,895)

-

(17,980)

(18,006)

At 30 June 2024

2,747

1,548,937

6,993

187,625

Carrying amount

At 30 June 2024

4,414

1,656,845

6,191

111,883

At 31 March 2023

4,517

1,592,584

9,959

105,499

Total
£

Cost or valuation

At 1 April 2023

3,222,097

Additions

357,645

Disposals

(54,107)

At 30 June 2024

3,525,635

Depreciation

At 1 April 2023

1,509,538

Charge for the period

275,645

Eliminated on disposal

(38,881)

At 30 June 2024

1,746,302

Carrying amount

At 30 June 2024

1,779,333

At 31 March 2023

1,712,559

 

Midland & General Scaffolding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 June 2024

5

Stocks

2024
£

2023
£

Work in progress

31,755

32,175

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,720,895

1,087,920

Prepayments

30,816

33,619

Other debtors

70,753

193,923

 

1,822,464

1,315,462

 

Midland & General Scaffolding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

76,250

Trade creditors

 

215,639

107,482

Taxation and social security

 

172,111

54,432

Accruals and deferred income

 

99,578

12,750

Other creditors

 

25,987

16,398

 

513,315

267,312

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

76,250