REGISTERED NUMBER: 11713224 (England and Wales)

ScaffFloat Ltd

Unaudited Financial Statements

for the Year Ended 31st December 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

T A Budd

T D Light

SECRETARY:

T A Budd

REGISTERED OFFICE:

Scafffloat

Bissom Road

Penryn

Cornwall

TR10 9LH

REGISTERED NUMBER:

11713224 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Intangible assets

4

6,547

7,243

Tangible assets

5

414,690

405,915

421,237

413,158

CURRENT ASSETS

Stocks

6

-

42,635

Debtors

7

423,116

253,941

Cash at bank and in hand

367,743

250,127

790,859

546,703

CREDITORS

Amounts falling due within one year

8

(315,013

)

(235,013

)

NET CURRENT ASSETS

475,846

311,690

TOTAL ASSETS LESS CURRENT LIABILITIES

897,083

724,848

CREDITORS

Amounts falling due after more than one year

9

(408,049

)

(436,420

)

PROVISIONS FOR LIABILITIES

(61,928

)

(23,446

)

NET ASSETS

427,106

264,982

CAPITAL AND RESERVES

Called up share capital

194

194

Share premium

180,421

180,421

Retained earnings

246,491

84,367

427,106

264,982

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 15th July 2025 and were signed on its behalf by:

T A Budd - Director

1.	STATUTORY INFORMATION

ScaffFloat 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 for services, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the service is provided.

Intangible assets

Trademarks and patents are being amortised evenly over their estimated useful life of five years from the date of registration.

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.

Short leasehold

-

Over the remaining life of the lease

Improvements to property

-

10% on cost

Plant and machinery

-

33% on cost, 20% on cost, 15% on cost and 10% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 9 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Trademark

and

patents

£

COST

At 1st January 2024

13,877

Additions

2,163

At 31st December 2024

16,040

AMORTISATION

At 1st January 2024

6,634

Amortisation for year

2,859

At 31st December 2024

9,493

NET BOOK VALUE

At 31st December 2024

6,547

At 31st December 2023

7,243

5.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1st January 2024

8,841

25,867

454,337

Additions

-

2,399

87,138

Disposals

-

(14,116

)

(44,636

)

At 31st December 2024

8,841

14,150

496,839

DEPRECIATION

At 1st January 2024

3,100

3,498

133,643

Charge for year

884

2,627

69,085

Eliminated on disposal

-

(3,035

)

(20,072

)

At 31st December 2024

3,984

3,090

182,656

NET BOOK VALUE

At 31st December 2024

4,857

11,060

314,183

At 31st December 2023

5,741

22,369

320,694

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st January 2024

1,116

81,602

6,579

578,342

Additions

-

52,752

668

142,957

Disposals

-

-

(299

)

(59,051

)

At 31st December 2024

1,116

134,354

6,948

662,248

DEPRECIATION

At 1st January 2024

93

28,549

3,544

172,427

Charge for year

279

24,442

1,186

98,503

Eliminated on disposal

-

-

(265

)

(23,372

)

At 31st December 2024

372

52,991

4,465

247,558

NET BOOK VALUE

At 31st December 2024

744

81,363

2,483

414,690

At 31st December 2023

1,023

53,053

3,035

405,915

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

Motor

vehicles

£

COST

At 1st January 2024

81,602

Additions

52,752

At 31st December 2024

134,354

DEPRECIATION

At 1st January 2024

28,549

Charge for year

24,442

At 31st December 2024

52,991

NET BOOK VALUE

At 31st December 2024

81,363

At 31st December 2023

53,053

6.

STOCKS

2024

2023

£

£

Stocks

-

12,000

Work-in-progress

-

30,635

-

42,635

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

406,265

250,191

Other debtors

16,851

3,750

423,116

253,941

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

53,139

46,933

Hire purchase contracts (see note 10)

22,778

13,719

Trade creditors

46,316

61,486

Taxation and social security

128,780

77,259

Other creditors

64,000

35,616

315,013

235,013

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

77,471

130,336

Hire purchase contracts (see note 10)

42,583

32,015

Other loans

287,995

274,069

408,049

436,420

Included in creditors due in more than one year are unsecured convertible loan notes of £187,995. This balance includes accrued interest of £13,926.

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Gross obligations repayable:

Within one year

26,820

17,984

Between one and five years

47,078

37,812

73,898

55,796

Finance charges repayable:

Within one year

4,042

4,265

Between one and five years

4,495

5,797

8,537

10,062

Net obligations repayable:

Within one year

22,778

13,719

Between one and five years

42,583

32,015

65,361

45,734

Non-cancellable

operating leases

2024

2023

£

£

Within one year

50,000

47,917

Between one and five years

70,833

120,833

120,833

168,750

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Other loans

100,000

100,000

Bank loan

111,169

148,102

211,169

248,102

Balvernie Ltd has a fixed and floating charge over ScaffFloat Ltd's assets, property and undertakings.

SWIG Finance Ltd has a fixed and floating charge over ScaffFloat Ltd's property and undertakings.