Company Registration No. 08225275 (England and Wales)
Scaffteq West Ltd
Unaudited accounts
for the year ended 30 September 2019
Scaffteq West Ltd
Unaudited accounts
Contents
Scaffteq West Ltd
Company Information
for the year ended 30 September 2019
Directors
A M McLay
D Hayde
Company Number
08225275 (England and Wales)
Registered Office
11 Walker Way
Thornbury
Bristol
BS35 3US
Accountants
Farquhar Partnership Limited
151 Whiteladies Road
Clifton
Bristol
BS8 2RA
Scaffteq West Ltd
Statement of financial position
as at
30 September 2019
Tangible assets
2,114,327
2,290,188
Debtors
2,759,126
784,858
Cash at bank and in hand
219,803
179,692
Creditors: amounts falling due within one year
(1,606,248)
(1,218,227)
Net current assets/(liabilities)
1,518,654
(253,677)
Total assets less current liabilities
3,632,981
2,036,511
Creditors: amounts falling due after more than one year
(1,818,727)
(528,120)
Provisions for liabilities
Deferred tax
(198,869)
(186,892)
Net assets
1,615,385
1,321,499
Called up share capital
100
100
Profit and loss account
1,615,285
1,321,399
Shareholders' funds
1,615,385
1,321,499
For the year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 11 December 2019.
A M McLay
Director
Company Registration No. 08225275
Scaffteq West Ltd
Notes to the Accounts
for the year ended 30 September 2019
Scaffteq West Ltd is a private company, limited by shares, registered in England and Wales, registration number 08225275. The registered office is 11 Walker Way, Thornbury, Bristol, BS35 3US.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and value added tax. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
15% reducing balance basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Scaffteq West Ltd
Notes to the Accounts
for the year ended 30 September 2019
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2018
3,335,278
399,197
7,087
3,741,562
Additions
162,821
38,927
-
201,748
Disposals
-
(15,347)
-
(15,347)
At 30 September 2019
3,498,099
422,777
7,087
3,927,963
At 1 October 2018
1,171,001
276,533
3,840
1,451,374
Charge for the year
335,812
35,351
487
371,650
On disposals
-
(9,388)
-
(9,388)
At 30 September 2019
1,506,813
302,496
4,327
1,813,636
At 30 September 2019
1,991,286
120,281
2,760
2,114,327
At 30 September 2018
2,164,277
122,664
3,247
2,290,188
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
503,524
592,381
- Motor vehicles
113,441
113,545
Work in progress
134,385
-
Scaffteq West Ltd
Notes to the Accounts
for the year ended 30 September 2019
Trade debtors
705,057
772,760
Amounts due from group undertakings etc.
2,020,000
-
Accrued income and prepayments
31,369
9,398
Other debtors
2,700
2,700
Amounts due after more than one year
2,000,000
-
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Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
552,541
353,067
Obligations under finance leases and hire purchase contracts
25,801
25,549
Trade creditors
156,858
448,827
Taxes and social security
490,689
286,269
Other creditors
32,750
1,544
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Creditors: amounts falling due after more than one year
2019
2018
Bank loans
1,795,677
441,048
Obligations under finance leases and hire purchase contracts
23,050
16,545
Aggregate of amounts that fall due for payment after five years
658,368
-
Creditors include secured bank loans of £1,908,367 (2018 - £4,176). The loans are secured by way of a fixed and floating charge over all property or undertaking of the company.
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Deferred taxation
2019
2018
Accelerated capital allowances
199,141
186,892
Other deferred taxation
(272)
-
Provision at start of year
186,892
174,844
Charged to the profit and loss account
11,977
12,048
Provision at end of year
198,869
186,892
Scaffteq West Ltd
Notes to the Accounts
for the year ended 30 September 2019
10
Share capital
2019
2018
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Operating lease commitments
2019
2018
At 30 September 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
More than five years
564,825
-
The company became a wholly owned subsidiary of SRS 2 Limited on 31 March 2019. It's registered office is 43 North Park, London, SE9 5AW.
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Average number of employees
During the year the average number of employees was 64 (2018: 66).