Company registration number 10346571 (England and Wales)
D & B SCAFFOLDING HOLDINGS LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Affinia
18 Hoffmans Way
Chelmsford
Essex
CM17 0ET
D & B SCAFFOLDING HOLDINGS LTD
COMPANY INFORMATION
Directors
Mr B Bird
Mr G A Dobbs
Mr R Scotney
Company number
10346571
Registered office
10-12 Mulberry Green
Harlow
CM17 0ET
Auditor
Affinia (Chelmsford)
Ground Floor
Swift House
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU
D & B SCAFFOLDING HOLDINGS LTD
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Profit and loss account
8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 30
D & B SCAFFOLDING HOLDINGS LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -
The directors present their strategic report of the company and the group for the year ended 31 August 2024.
Principal activities
The principal activity of the group during the year was that of scaffolding contractors.
Review of the business
The business' current financial position is strong considering the unstable market conditions within the construction industry and in particular housing. Whilst margins have remained low during this financial period we have good control of our expenditure and have worked within our resources, negating the need to purchase more.
Cash reserves have increased due to good cash-flow control measures, which leaves us in an extremely positive position considering the market conditions we have operated in during the past few years.
With our operating area remaining the same, we have secured some excellent projects with new and existing clients in South East of England.
Whilst we remain very measured in any future decision or investments we make, we are optimistic that the housing market will improve during 2025.
Principal risks and uncertainties
The group is keen to maximise sales and profitability while taking a sensible approach to risk.
Key performance indicators
Gross profit margin: 17.75% (2023: 20.28%)
Gross profit has suffered slightly due to very difficult market conditions and increased labour costs.
Debtors days: 25 days (2023: 20 days)
We are on 30-35 day payment terms so this remains below this figure due to good control measures.
Employment
D & B Scaffolding Holdings Limited is an equal opportunities employer.
Mr G A Dobbs
Director
28 August 2025
D & B SCAFFOLDING HOLDINGS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
The directors present their report with the financial statements of the company and the group for the year ended 31 August 2024.
Results and dividends
The results for the year are set out on page 8.
No ordinary dividends were paid (2023: £Nil).
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr B Bird
Mr G A Dobbs
Mr R Scotney
Auditor
The auditors, Affinia (Chelmsford), will be proposed for re-appointment at the forthcoming Annual General Meeting.
Statement of directors' responsibilities
The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.
D & B SCAFFOLDING HOLDINGS LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
On behalf of the board
Mr G A Dobbs
Director
28 August 2025
D & B SCAFFOLDING HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF D & B SCAFFOLDING HOLDINGS LTD
- 4 -
Opinion
We have audited the financial statements of D & B Scaffolding Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the group's and the parent company's affairs as at 31 August 2024 and of the group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
D & B SCAFFOLDING HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF D & B SCAFFOLDING HOLDINGS LTD
- 5 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
D & B SCAFFOLDING HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF D & B SCAFFOLDING HOLDINGS LTD
- 6 -
Our approach to identifying and assessing the risks of material misstatement in respect or irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the construction sector;
- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- Performed analytical procedures to identify any unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Tested a sample of revenue recognised either side of the period end to ensure revenue had been recognised in the correct period;
- Reviewed the internal controls in place, specifically around payroll and bank transactions; and
- Assessed whether judgements and assumptions made in determining the accounting estimates around depreciation, accruals and accrued income were indicative of potential bias.
- Investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- Agreeing financial statement disclosures to underlying supporting documentation;
- Enquiring of management as to actual and potential litigation and claims; and
- Reviewing correspondence with HMRC and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatement that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
D & B SCAFFOLDING HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF D & B SCAFFOLDING HOLDINGS LTD
- 7 -
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Laurence Miles (Senior Statutory Auditor)
For and on behalf of Affinia (Chelmsford), Statutory Auditor
Chartered Accountants
Ground Floor
Swift House
18 Hoffmanns Way
Chelmsford
Essex
CM1 1GU
28 August 2025
D & B SCAFFOLDING HOLDINGS LTD
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
14,252,698
18,867,226
Cost of sales
(11,723,443)
(15,040,156)
Gross profit
2,529,255
3,827,070
Administrative expenses
(2,319,342)
(2,220,682)
Other operating income
190,590
147,835
Operating profit
4
400,503
1,754,223
Share of profits of associates
867,084
699,223
Interest receivable and similar income
8
118,343
42,426
Interest payable and similar expenses
9
(927)
(154)
Amounts written off investments
10
(154,889)
-
Profit before taxation
1,230,114
2,495,718
Tax on profit
11
(152,282)
(548,420)
Profit for the financial year
1,077,832
1,947,298
Profit for the financial year is all attributable to the owners of the parent company.
D & B SCAFFOLDING HOLDINGS LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
2024
2023
£
£
Profit for the year
1,077,832
1,947,298
Other comprehensive income
Total comprehensive income for the year
1,077,832
1,947,298
Total comprehensive income for the year is all attributable to the owners of the parent company.
D & B SCAFFOLDING HOLDINGS LTD
GROUP BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
Tangible assets
12
4,438,622
5,386,523
Investments
13
2,877,921
2,010,883
7,316,543
7,397,406
Current assets
Debtors
16
6,490,062
5,887,132
Cash at bank and in hand
6,217,320
6,066,399
12,707,382
11,953,531
Creditors: amounts falling due within one year
17
(1,729,116)
(1,971,031)
Net current assets
10,978,266
9,982,500
Total assets less current liabilities
18,294,809
17,379,906
Creditors: amounts falling due after more than one year
18
(28,045)
(33,432)
Provisions for liabilities
Deferred tax liability
20
186,077
343,619
(186,077)
(343,619)
Net assets
18,080,687
17,002,855
Capital and reserves
Called up share capital
22
1,000
1,000
Profit and loss reserves
18,079,687
17,001,855
Total equity
18,080,687
17,002,855
The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
28 August 2025
Mr G A Dobbs
Director
Company registration number 10346571 (England and Wales)
D & B SCAFFOLDING HOLDINGS LTD
COMPANY BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
2,542,376
2,557,836
Investments
13
6,452,526
6,452,526
8,994,902
9,010,362
Current assets
Debtors
16
3,549,356
3,549,356
Cash at bank and in hand
170,710
117,798
3,720,066
3,667,154
Creditors: amounts falling due within one year
17
(15,461)
(7,843)
Net current assets
3,704,605
3,659,311
Total assets less current liabilities
12,699,507
12,669,673
Provisions for liabilities
Deferred tax liability
20
23,674
18,088
(23,674)
(18,088)
Net assets
12,675,833
12,651,585
Capital and reserves
Called up share capital
22
1,000
1,000
Share premium account
6,451,476
6,451,476
Profit and loss reserves
6,223,357
6,199,109
Total equity
12,675,833
12,651,585
As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £24,249 (2023 - £18,151 profit).
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
28 August 2025
Mr G A Dobbs
Director
Company registration number 10346571 (England and Wales)
D & B SCAFFOLDING HOLDINGS LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024
- 12 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 September 2022
1,000
15,054,557
15,055,557
Year ended 31 August 2023:
Profit and total comprehensive income
-
1,947,298
1,947,298
Balance at 31 August 2023
1,000
17,001,855
17,002,855
Year ended 31 August 2024:
Profit and total comprehensive income
-
1,077,832
1,077,832
Balance at 31 August 2024
1,000
18,079,687
18,080,687
D & B SCAFFOLDING HOLDINGS LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024
- 13 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 September 2022
1,000
6,451,476
6,180,958
12,633,434
Year ended 31 August 2023:
Profit and total comprehensive income for the year
-
-
18,151
18,151
Balance at 31 August 2023
1,000
6,451,476
6,199,109
12,651,585
Year ended 31 August 2024:
Profit and total comprehensive income
-
-
24,248
24,248
Balance at 31 August 2024
1,000
6,451,476
6,223,357
12,675,833
D & B SCAFFOLDING HOLDINGS LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
899,028
3,174,223
Interest paid
(926)
(154)
Income taxes (paid)/refunded
(189,627)
112,130
Net cash inflow from operating activities
708,475
3,286,199
Investing activities
Purchase of tangible fixed assets
(388,964)
(1,644,652)
Proceeds from disposal of tangible fixed assets
181,639
142,073
Interest received
118,343
42,426
Net cash used in investing activities
(88,982)
(1,460,153)
Financing activities
Repayment of loans
(463,185)
-
Payment of finance leases obligations
(5,387)
38,820
Net cash (used in)/generated from financing activities
(468,572)
38,820
Net increase in cash and cash equivalents
150,921
1,864,866
Cash and cash equivalents at beginning of year
6,066,399
4,201,533
Cash and cash equivalents at end of year
6,217,320
6,066,399
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 15 -
1
Accounting policies
Company information
D & B Scaffolding Holdings Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.
The Company's trading address is Montpelier House, Blasford Hill, Little Waltham, Braintree, Essex, CM3 3PG.
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.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Business combinations
In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.
Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.
1.3
Basis of consolidation
The group financial statements incorporate the financial statements of D & B Scaffolding Holdings Ltd (the 'Company') and entities controlled by the Company (its subsidiaries) made up to 31 August each year.
The only subsidiary undertaking at the year end is D & B Scaffolding Ltd
1.4
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The directors have considered a period of twelve months following the date of approval of the financial statements, when considering the appropriateness of the adoption of the going concern basis of preparation.
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 16 -
1.5
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract based on independent assessments of the work carried out at a given date.
1.6
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:
Freehold land and buildings
Straight line over 50 years
Leasehold improvements
Straight line over 20 years
Plant and equipment
33% on cost and 25% on cost
Fixtures and fittings
10% on cost
Motor vehicles
20% on cost
The land element of freehold land and buildings is not depreciated.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
1.7
Fixed asset investments
Investments in subsidiaries are recognised at cost.
Associate undertakings are recognised at cost plus share of profit, and are accounted for under the equity method.
1.8
Impairment of fixed assets
At each reporting period end date, the group reviews the carrying amounts of its tangible 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.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
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.
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 17 -
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.
1.9
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.
1.10
Financial instruments
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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.
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.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 18 -
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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 group 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
1.11
Equity instruments
Equity instruments issued by the group 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 group.
1.12
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 19 -
Current tax
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 if, and only if, there is 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.
1.13
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.
1.14
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.15
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.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 20 -
1.16
Amounts recoverable on contracts
Amounts recoverable on contracts at the year end is valued at the contract costs plus margin, less any foreseeable losses to date, taking into account payments received on account to date.
Where the cost plus margin less any foreseeable losses is in excess of payments on account, the excess is included as "amounts recoverable on contracts" under debtors in the Statement of Financial Position.
2
Judgements and key sources of estimation uncertainty
In the application of the group’s accounting policies, the directors are 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.
There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities,
3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Rendering of services
14,252,698
18,867,226
2024
2023
£
£
Other revenue
Interest income
118,343
42,426
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
1,208,551
1,495,750
Depreciation of tangible fixed assets held under finance leases
11,023
2,756
Profit on disposal of tangible fixed assets
(64,349)
(26,680)
Operating lease charges
120,000
120,000
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 21 -
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
3,775
3,670
Audit of the financial statements of the company's subsidiaries
16,745
16,280
20,520
19,950
Fees payable to the Company's auditors and its associates for the audit of the Company's annual financial statements were £20,520 (2023: £19,950).
Fees payable to the Company's auditors and its associates in respect of other non-audit services were £4,576 (2023: £7,056).
6
Employees
The average monthly number of persons (including directors) employed by the group and company during the year was:
Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
26
25
-
-
13
13
-
-
3
3
-
-
Total
42
41
0
0
Their aggregate remuneration comprised:
Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
2,154,129
2,000,403
Social security costs
243,211
227,698
-
-
Pension costs
91,989
183,267
2,489,329
2,411,368
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 22 -
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
352,200
334,700
Company pension contributions to defined contribution schemes
1,321
1,321
353,521
336,021
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
212,200
197,200
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
110,954
24,170
Interest receivable from group companies
15,149
Other interest income
7,389
3,107
Total income
118,343
42,426
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
110,954
39,319
9
Interest payable and similar expenses
2024
2023
£
£
Other finance costs:
Interest on finance leases and hire purchase contracts
927
154
10
Amounts written off investments
2024
2023
£
£
Amounts written off current loans
(154,889)
-
Included within amounts written off investments is a loan written off relating to Brevan Homes Ltd which has been dissolved since the year-end.
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 23 -
11
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
309,824
309,824
Adjustments in respect of prior periods
77,883
Total current tax
309,824
387,707
Deferred tax
Origination and reversal of timing differences
(157,542)
160,713
Total tax charge
152,282
548,420
The corporation tax rate is 25% this year (2023: 19%)
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
1,230,114
2,495,718
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
307,529
474,186
Tax effect of expenses that are not deductible in determining taxable profit
21,347
27,406
Tax effect of income not taxable in determining taxable profit
(216,771)
(132,852)
Adjustments in respect of prior years
4,827
77,883
Permanent capital allowances in excess of depreciation
192,966
Tax at marginal rate
(1,140)
Profit share of D & B Northern
1,066
(94,591)
Change in tax rates
35,675
Deferred tax
(157,542)
160,713
Taxation charge
152,282
548,420
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 24 -
12
Tangible fixed assets
Group
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 September 2023
2,642,965
48,562
7,709,450
56,948
2,074,848
12,532,773
Additions
1,731
203,088
184,145
388,964
Disposals
(1,460,376)
(192,148)
(1,652,524)
At 31 August 2024
2,644,696
48,562
6,452,162
56,948
2,066,845
11,269,213
Depreciation and impairment
At 1 September 2023
85,129
14,568
5,766,216
45,083
1,235,254
7,146,250
Depreciation charged in the year
17,191
2,429
960,950
3,593
235,412
1,219,575
Eliminated in respect of disposals
(1,460,377)
(74,857)
(1,535,234)
At 31 August 2024
102,320
16,997
5,266,789
48,676
1,395,809
6,830,591
Carrying amount
At 31 August 2024
2,542,376
31,565
1,185,373
8,272
671,036
4,438,622
At 31 August 2023
2,557,836
33,994
1,943,234
11,865
839,594
5,386,523
Company
Freehold land and buildings
£
Cost
At 1 September 2023
2,642,965
Additions
1,731
At 31 August 2024
2,644,696
Depreciation and impairment
At 1 September 2023
85,129
Depreciation charged in the year
17,191
At 31 August 2024
102,320
Carrying amount
At 31 August 2024
2,542,376
At 31 August 2023
2,557,836
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 25 -
13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
14
6,452,476
6,452,476
6,452,476
6,452,476
Investments in associates
15
(3,574,555)
(4,441,639)
50
50
Investments in joint ventures
46
2,877,921
2,010,883
6,452,526
6,452,526
Movements in fixed asset investments
Group
Shares in subsidiaries, associates and joint ventures
£
Cost or valuation
At 1 September 2023
2,010,883
Additions
867,084
At 31 August 2024
2,877,967
Impairment
At 1 September 2023
-
Impairments
46
At 31 August 2024
46
Carrying amount
At 31 August 2024
2,877,921
At 31 August 2023
2,010,883
Movements in fixed asset investments
Company
Shares in subsidiaries and associates
£
Cost or valuation
At 1 September 2023 and 31 August 2024
6,452,526
Carrying amount
At 31 August 2024
6,452,526
At 31 August 2023
6,452,526
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 26 -
14
Subsidiaries
Details of the company's subsidiaries at 31 August 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
D & B Scaffolding Limited
England and Wales
Ordinary shares
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
D & B Scaffolding Limited
8,979,459
186,500
15
Associates
Details of associates at 31 August 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
D & B Scaffolding (Northern) Limited
England
Ordinary
50
The financial statements of D & B Scaffolding (Northern) Limited are not included in the consolidated financial statements of D & B Scaffolding Holdings Ltd, but have been accounted for under the equity accounting method.
16
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
960,908
1,024,647
Gross amounts owed by contract customers
3,561,835
3,230,356
Amounts owed by group undertakings
100,000
100,000
3,549,356
3,549,356
Other debtors
1,600,121
1,253,101
Prepayments and accrued income
267,198
279,028
6,490,062
5,887,132
3,549,356
3,549,356
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 27 -
17
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under finance leases
19
5,388
5,388
Trade creditors
85,718
213,431
Corporation tax payable
300,367
180,170
11,098
5,214
Other taxation and social security
610,337
756,890
4,313
2,579
Other creditors
256,408
312,757
50
50
Accruals and deferred income
470,898
502,395
1,729,116
1,971,031
15,461
7,843
18
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Obligations under finance leases
19
28,045
33,432
19
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
5,388
5,388
In two to five years
28,045
33,432
33,433
38,820
-
-
Future minimum sublease payments expected to be received under non-cancellable subleases
280,000
120,000
-
-
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 28 -
20
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
23,674
18,088
Deferred tax
162,403
325,531
186,077
343,619
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
23,674
18,088
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 September 2023
343,619
18,088
(Credit)/charge to profit or loss
(157,542)
5,586
Liability at 31 August 2024
186,077
23,674
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
91,989
183,267
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
22
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 29 -
23
Related party transactions
During the year the group charged D & B Scaffolding (Northern) Ltd rent of £100,000 (2023: £100,000). D & B Scaffolding (Northern) Ltd are an associate company by virtue of the group owning 50% of the share capital.
At the year end the group was owed £nil (2023: £156,362) by Brevan Homes Limited, a company in which G Dobbs and B Bird are both directors. Brevan Homes Limited has been dissolved at companies house effective 7th January 2025. D & B Scaffolding Ltd has disposed of its shareholding of 46 of the 92 issued 'C' shares, G Dobbs owed 1 of the 2 issued 'A' shares and B Bird owned 1 of the 2 issued 'B' shares. The loan bears interest at a rate of 2.5% above Bank of England rate. Interest of £nil (2023: £2,600) was charged on the loan in the year. the amount due from Brevan Homes Limited of £154,889 was written off to the profit and loss account during the year.
DBS Contracting Limited is a company in which G Dobbs and B Bird are directors and shareholders. The loan bears interest at a rate of 3.5%. Interest of £nil (2023: £12,549) was charged on the loan in the year.
At the year end the group was owed £1,081.075 (2023: £1,081,075) by D & B Scaffolding (Northern) Ltd, a company within the same group structure. The loan is interest free and repayable on demand.
At the year end the group owed Mrs N Gowers, a shareholder, £nil (2023: £75,000) which is included in other creditors. The company was owed £45,000 (2023: £nil) by Mrs N Gowers which is included in other debtors.
During the year the group was charged rent of £120,000 (2023: £120,000) from the D & B Scaffolding Pension Fund, the Trustees being G A Dobbs and B Bird.
24
Directors' transactions
These loans were provided on the basis they were repayable on demand and no interest has been charged.
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
G A Dobbs
-
-
306,963
306,963
B Bird
-
(115,236)
1,333
(113,903)
(115,236)
308,296
193,060
25
Controlling party
There was no one ultimate controlling party during the year.
D & B SCAFFOLDING HOLDINGS LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 30 -
26
Cash generated from group operations
2024
2023
£
£
Profit after taxation
1,077,832
1,947,298
Adjustments for:
Share of results of associates and joint ventures
(867,084)
(699,223)
Taxation charged
152,282
548,420
Finance costs
925
154
Investment income
(118,343)
(42,426)
Gain on disposal of tangible fixed assets
(64,349)
(26,680)
Depreciation and impairment of tangible fixed assets
1,219,575
1,498,506
Other gains and losses
154,889
-
Movements in working capital:
(Increase)/decrease in debtors
(294,588)
751,180
Decrease in creditors
(362,111)
(803,006)
Cash generated from operations
899,028
3,174,223
27
Analysis of changes in net funds - group
1 September 2023
Cash flows
31 August 2024
£
£
£
Cash at bank and in hand
6,066,399
150,921
6,217,320
Obligations under finance leases
(38,820)
5,387
(33,433)
6,027,579
156,308
6,183,887
2024-08-312023-09-01falsefalseCCH SoftwareCCH Accounts Production 2025.200Mr B BirdMr G A DobbsMr R 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