Company No: 02883504 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.12.2024		31.12.2023
		£		£
Fixed assets
Tangible assets	3	2,793,164		2,288,644
		2,793,164		2,288,644
Current assets
Debtors	4	2,656,157		2,452,474
Cash at bank and in hand		502,605		263,789
		3,158,762		2,716,263
Creditors: amounts falling due within one year	5	( 1,394,204)		( 1,026,283)
Net current assets		1,764,558		1,689,980
Total assets less current liabilities		4,557,722		3,978,624
Creditors: amounts falling due after more than one year	6	( 1,255,450)		( 679,474)
Provision for liabilities		( 631,009)		( 523,717)
Net assets		2,671,263		2,775,433
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		2,671,163		2,775,333
Total shareholders' funds		2,671,263		2,775,433

For the financial year ending 31 December 2024 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Masons Scaffolding Ltd (registered number: 02883504) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

Neil Graham Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Masons Scaffolding Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nexus House, 2 Cray Road, Sidcup, DA14 5DA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	not depreciated
Plant and machinery	10 - 25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Tools and equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	Year ended 31.12.2024		Period from 31.12.2022 to 31.12.2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	12		12

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Tools and equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2024	39,642		3,980,299		420,151		112,671		63,301		4,616,064
Additions	0		1,037,488		139,990		28,763		5,405		1,211,646
Disposals	0		0		( 110,398)		0		0		( 110,398)
At 31 December 2024	39,642		5,017,787		449,743		141,434		68,706		5,717,312
Accumulated depreciation
At 01 January 2024	0		1,979,737		245,261		59,238		43,184		2,327,420
Charge for the financial year	0		619,001		48,669		16,224		6,381		690,275
Disposals	0		0		( 93,547)		0		0		( 93,547)
At 31 December 2024	0		2,598,738		200,383		75,462		49,565		2,924,148
Net book value
At 31 December 2024	39,642		2,419,049		249,360		65,972		19,141		2,793,164
At 31 December 2023	39,642		2,000,562		174,890		53,433		20,117		2,288,644

4. Debtors

	31.12.2024		31.12.2023
	£		£
Trade debtors	835,109		870,982
Other debtors	1,821,048		1,581,492
	2,656,157		2,452,474

5. Creditors: amounts falling due within one year

	31.12.2024		31.12.2023
	£		£
Bank loans (secured)	120,460		0
Trade creditors	258,487		294,928
Taxation and social security	79,781		210,507
Obligations under finance leases and hire purchase contracts (secured)	829,520		498,965
Other creditors	105,956		21,883
	1,394,204		1,026,283

Security has been provided by the company over the assets financed.

6. Creditors: amounts falling due after more than one year

	31.12.2024		31.12.2023
	£		£
Bank loans (secured)	637,978		0
Obligations under finance leases and hire purchase contracts (secured)	617,472		679,474
	1,255,450		679,474

Security has been provided by the company over the assets financed.

7. Called-up share capital

	31.12.2024		31.12.2023
	£		£
Allotted, called-up and fully-paid
52 Ordinary shares of £ 1.00 each	52		52
24 Ordinary A shares of £ 1.00 each	24		24
24 Ordinary B shares of £ 1.00 each	24		24
	100		100

8. Financial commitments

Commitments

	31.12.2024		31.12.2023
	£		£
Total future minimum lease payments under non-cancellable operating lease	2,898,179		3,101,805

The commitments above are in respect of operating leases for property and vehicles. The amounts due within one year are £611,874 (2023: £412,548).

9. Related party transactions

Transactions with the entity's directors

	31.12.2024		31.12.2023
	£		£
Amounts due from directors	801,057		675,406

During the year, the company advanced £132,291 (2023: £45,066) to the director of the company. £6,640 (2023: £944) was repaid during the year.

The loan to the director is unsecured and repayable on demand. Interest has been charged at the official rate of interest