Company registration number SC094968 (Scotland)
G & D SCAFFOLDING SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
G & D SCAFFOLDING SERVICES LTD
Contents
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 10
G & D SCAFFOLDING SERVICES LTD
Report To The Director On The Preparation Of The Unaudited Statutory Accounts Of G & D Scaffolding Services Ltd
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G & D Scaffolding Services Ltd for the year ended 31 August 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of G & D Scaffolding Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of G & D Scaffolding Services Ltd and state those matters that we have agreed to state to the Board of Directors of G & D Scaffolding Services Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G & D Scaffolding Services Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that G & D Scaffolding Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of G & D Scaffolding Services Ltd. You consider that G & D Scaffolding Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G & D Scaffolding Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Condie & Co Limited trading as Dains
Chartered Accountants
10 Abbey Park Place
Dunfermline
Fife
KY12 7NZ
24 July 2025
G & D SCAFFOLDING SERVICES LTD
Statement Of Financial Position
As At 31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
494
650
Tangible assets
5
582,295
338,594
582,789
339,244
Current assets
Stocks
115,224
114,423
Debtors
6
51,173
54,452
Cash at bank and in hand
27,131
24,541
193,528
193,416
Creditors: amounts falling due within one year
7
(230,712)
(120,513)
Net current (liabilities)/assets
(37,184)
72,903
Total assets less current liabilities
545,605
412,147
Creditors: amounts falling due after more than one year
8
(258,481)
(52,275)
Provisions for liabilities
9
(25,006)
(30,750)
Net assets
262,118
329,122
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
262,018
329,022
Total equity
262,118
329,122
G & D SCAFFOLDING SERVICES LTD
Statement Of Financial Position (Continued)
As At 31 August 2024
- 3 -

For the financial year ended 31 August 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 director acknowledges his 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 director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 24 July 2025
Mr G Hendry
Director
Company registration number SC094968 (Scotland)
G & D SCAFFOLDING SERVICES LTD
Notes To The Financial Statements
For The Year Ended 31 August 2024
- 4 -
1
Accounting policies
Company information

G & D Scaffolding Services Ltd is a private company limited by shares incorporated in Scotland. The registered office is 6 Mayflower Street, Townhill, Dunfermline, KY12 0HP.

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.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Amortisation 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:

Licences
10% Straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost, 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:

Freehold land and buildings
2% Straight line
Plant and equipment
15% Reducing balance
Fixtures and fittings
15% Reducing balance
Computer equipment
33% Straight line
Motor vehicles
25% Reducing balance

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.

G & D SCAFFOLDING SERVICES LTD
Notes To The Financial Statements (Continued)
For The Year Ended 31 August 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

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.

Work in progress is valued based on the company's performance of contracts undertaken and its subsequent right to consideration. Profit can be recognised on contracts which were not invoiced at the year end based on the stage of completion of the individual contracts, where the profit can be ascertained with reasonable certainty.

1.7
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 current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

G & D SCAFFOLDING SERVICES LTD
Notes To The Financial Statements (Continued)
For The Year Ended 31 August 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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 income statement, 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.

G & D SCAFFOLDING SERVICES LTD
Notes To The Financial Statements (Continued)
For The Year Ended 31 August 2024
1
Accounting policies
(Continued)
- 7 -
1.11
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.

 

1.12
Retirement benefits

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

1.13
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 statement of financial position 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.

1.14
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
16
16
G & D SCAFFOLDING SERVICES LTD
Notes To The Financial Statements (Continued)
For The Year Ended 31 August 2024
- 8 -
4
Intangible fixed assets
Licences
£
Cost
At 1 September 2023 and 31 August 2024
1,560
Amortisation and impairment
At 1 September 2023
910
Amortisation charged for the year
156
At 31 August 2024
1,066
Carrying amount
At 31 August 2024
494
At 31 August 2023
650
5
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 September 2023
144,489
988,051
30,090
15,554
465,264
1,643,448
Additions
-
0
-
0
-
0
-
0
355,000
355,000
At 31 August 2024
144,489
988,051
30,090
15,554
820,264
1,998,448
Depreciation and impairment
At 1 September 2023
85,037
822,674
24,281
15,135
357,727
1,304,854
Depreciation charged in the year
2,890
25,131
871
419
81,988
111,299
At 31 August 2024
87,927
847,805
25,152
15,554
439,715
1,416,153
Carrying amount
At 31 August 2024
56,562
140,246
4,938
-
0
380,549
582,295
At 31 August 2023
59,452
165,377
5,809
419
107,537
338,594

Tangible fixed assets with a net book value of £582,295 (2023 - £338,594) have been pledged as security in

favour of The Bank of Scotland.

 

G & D SCAFFOLDING SERVICES LTD
Notes To The Financial Statements (Continued)
For The Year Ended 31 August 2024
- 9 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
46,484
53,522
Other debtors
3,685
-
0
Prepayments and accrued income
1,004
930
51,173
54,452
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,001
Obligations under finance leases
76,716
18,130
Trade creditors
16,267
3,253
Taxation and social security
5,511
19,544
Other creditors
112,416
62,453
Accruals and deferred income
9,802
7,132
230,712
120,513

The Bank of Scotland hold security dated 24th October 1991 over Leadside Depot, Dunfermline which is

included within Freehold Land and Buildings.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,500
17,500
Other creditors
250,981
34,775
258,481
52,275

The Bank of Scotland hold security dated 24th October 1991 over Leadside Depot, Dunfermline which is

included within Freehold Land and Buildings.

9
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
25,006
30,750
G & D SCAFFOLDING SERVICES LTD
Notes To The Financial Statements (Continued)
For The Year Ended 31 August 2024
- 10 -
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
11
Related party transactions

The company has taken advantage of Section 1AC35 of FRS 102 whereby only material transactions which are not under the normal market conditions need to be disclosed.

12
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Mr G Hendry
1.70
36,955
106,000
1,500
(56,310)
88,145
36,955
106,000
1,500
(56,310)
88,145

The balance due to Mr G Hendry, which is included in other creditors, is repayable on demand.

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