REGISTERED NUMBER: 04994569 (England and Wales)

TEIFI VALLEY SCAFFOLDING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D R G James

C Lawson

SECRETARY:

D R G James

REGISTERED OFFICE:

Rhosfawr

Bowls Road

Blaenporth

Cardigan

Ceredigion

SA43 2AR

REGISTERED NUMBER:

04994569 (England and Wales)

ACCOUNTANTS:

D M B Davies Limited

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

333,608

406,148

333,608

406,148

CURRENT ASSETS

Stocks

283

-

Debtors

6

140,936

85,623

Cash at bank

5,564

46,363

146,783

131,986

CREDITORS

Amounts falling due within one year

7

126,326

84,842

NET CURRENT ASSETS

20,457

47,144

TOTAL ASSETS LESS CURRENT LIABILITIES

354,065

453,292

CREDITORS

Amounts falling due after more than one year

8

(14,760

)

(24,934

)

PROVISIONS FOR LIABILITIES

(76,167

)

(101,390

)

NET ASSETS

263,138

326,968

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

263,136

326,966

263,138

326,968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

D R G James - Director

C Lawson - Director

1.	STATUTORY INFORMATION

Teifi Valley Scaffolding Limited 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 Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill has been fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

60,000

AMORTISATION

At 1 January 2024

and 31 December 2024

60,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

26,000

1,339,340

8,322

Additions

(10,000

)

-

-

At 31 December 2024

16,000

1,339,340

8,322

DEPRECIATION

At 1 January 2024

-

1,022,876

5,442

Charge for year

-

47,469

432

At 31 December 2024

-

1,070,345

5,874

NET BOOK VALUE

At 31 December 2024

16,000

268,995

2,448

At 31 December 2023

26,000

316,464

2,880

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

164,656

2,756

1,541,074

Additions

-

749

(9,251

)

At 31 December 2024

164,656

3,505

1,531,823

DEPRECIATION

At 1 January 2024

104,495

2,113

1,134,926

Charge for year

15,040

348

63,289

At 31 December 2024

119,535

2,461

1,198,215

NET BOOK VALUE

At 31 December 2024

45,121

1,044

333,608

At 31 December 2023

60,161

643

406,148

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

45,000

DEPRECIATION

At 1 January 2024

32,738

Charge for year

1,839

At 31 December 2024

34,577

NET BOOK VALUE

At 31 December 2024

10,423

At 31 December 2023

12,262

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

121,151

61,344

Other debtors

19,785

24,279

140,936

85,623

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

25,959

-

Trade creditors

2,627

12,543

Taxation and social security

20,608

29,345

Other creditors

77,132

42,954

126,326

84,842

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

14,760

24,934