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Registration number: 09080512

M G Scaffolding (Plymouth) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2025

 

M G Scaffolding (Plymouth) Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

M G Scaffolding (Plymouth) Limited

(Registration number: 09080512)
Statement of Financial Position as at 30 June 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

43,704

49,918

Current assets

 

Debtors

5

180,509

101,023

Cash at bank and in hand

 

355,210

337,106

 

535,719

438,129

Creditors: Amounts falling due within one year

6

(113,027)

(83,562)

Net current assets

 

422,692

354,567

Total assets less current liabilities

 

466,396

404,485

Provisions for liabilities

(10,529)

(11,939)

Net assets

 

455,867

392,546

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

455,767

392,446

Shareholders' funds

 

455,867

392,546

For the financial year ending 30 June 2025 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 year 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 29 August 2025 and signed on its behalf by:
 


Mr G E Davies
Director

 

M G Scaffolding (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1

General information

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

The address of its registered office is:
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of scaffold erection.

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 financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 value added tax, returns, rebates and discounts.

 

M G Scaffolding (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

2

Accounting policies (continued)

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.

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 statement of financial position 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

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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.

 

M G Scaffolding (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

2

Accounting policies (continued)

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 9).

 

M G Scaffolding (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2024

122,560

24,151

146,711

Additions

7,022

1,333

8,355

At 30 June 2025

129,582

25,484

155,066

Depreciation

At 1 July 2024

82,338

14,455

96,793

Charge for the year

11,811

2,758

14,569

At 30 June 2025

94,149

17,213

111,362

Carrying amount

At 30 June 2025

35,433

8,271

43,704

At 30 June 2024

40,222

9,696

49,918

5

Debtors

Note

2025
£

2024
£

Trade debtors

 

39,110

26,527

Other debtors

 

117,177

73,130

Prepayments

 

597

1,366

Income tax asset

23,625

-

 

180,509

101,023

 

M G Scaffolding (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Trade creditors

1,532

2,681

Taxation and social security

106,096

72,739

Accruals and deferred income

5,215

5,025

Other creditors

184

3,117

113,027

83,562

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2025
£

2024
£

Not later than one year

11,264

8,027

Later than one year and not later than five years

12,573

4,079

23,837

12,106

 

M G Scaffolding (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025 (continued)

9

Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

2025

At 1 July 2024
£

Advances to director
£

Repayments by director
£

At 30 June 2025
£

Mr G E Davies

68,931

120,998

(83,461)

106,468

         
       

Mr B G Davies

3,200

10,095

(6,000)

7,295

         
       

Mr A L Davies

1,000

8,414

(6,000)

3,414

         
       

 

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mr G E Davies

75,930

97,138

(104,137)

68,931

Mr B G Davies

1,200

10,000

(8,000)

3,200

Mr A L Davies

(1,000)

10,000

(8,000)

1,000