Company registration number 3835676 (England and Wales)
PEGG SCAFFOLDING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PEGG SCAFFOLDING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PEGG SCAFFOLDING LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,338
10,478
Current assets
Debtors
4
27,812
31,833
Cash at bank and in hand
4,253
70
32,065
31,903
Creditors: amounts falling due within one year
5
(27,078)
(34,987)
Net current assets/(liabilities)
4,987
(3,084)
Total assets less current liabilities
13,325
7,394
Creditors: amounts falling due after more than one year
6
(1,896)
(4,348)
Provisions for liabilities
(1,419)
(1,991)
Net assets
10,010
1,055
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
9,010
55
Total equity
10,010
1,055
PEGG SCAFFOLDING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Mr Peter Pegg
Director
Company registration number 3835676 (England and Wales)
PEGG SCAFFOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Pegg Scaffolding Limited is a private company limited by shares incorporated in England and Wales. The registered office is 48 King Street, King's Lynn, Norfolk, PE30 1HE. The business address of the company is Austin Fields, King's Lynn, Norfolk, PE30 1PH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Scaffold equipment
20% per annum of net book value
Office equipment
15% per annum of net book value
Motor vehicles
25% per annum of net book value

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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PEGG SCAFFOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

PEGG SCAFFOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
55,674
Additions
521
At 30 September 2024
56,195
Depreciation and impairment
At 1 October 2023
45,196
Depreciation charged in the year
2,661
At 30 September 2024
47,857
Carrying amount
At 30 September 2024
8,338
At 30 September 2023
10,478
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
26,569
31,011
Other debtors
1,243
822
27,812
31,833
PEGG SCAFFOLDING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
3,541
Trade creditors
2,800
5,959
Taxation and social security
19,616
13,440
Other creditors
4,662
12,047
27,078
34,987

Other creditors includes £2,263 (2023 - £2,263) of hire purchase liabilities secured against the assets for which they were used to purchase.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,896
4,348

Other creditors includes £1,896 (2023 - £4,348) of hire purchase liabilities secured against the assets for which they were used to purchase.

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