Company Registration No. 08225275 (England and Wales)
SCAFFTEQ WEST LTD
Unaudited accounts
for the year ended 30 September 2020
SCAFFTEQ WEST LTD
Unaudited accounts
Contents
SCAFFTEQ WEST LTD
Company Information
for the year ended 30 September 2020
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 2020
Tangible assets
2,216,294
2,114,327
Inventories
58,281
145,973
Debtors
3,003,968
2,759,126
Cash at bank and in hand
429,065
219,803
Creditors: amounts falling due within one year
(2,076,412)
(1,606,248)
Net current assets
1,414,902
1,518,654
Total assets less current liabilities
3,631,196
3,632,981
Creditors: amounts falling due after more than one year
(2,463,252)
(1,818,727)
Provisions for liabilities
Deferred tax
(222,236)
(198,869)
Net assets
945,708
1,615,385
Called up share capital
100
100
Profit and loss account
945,608
1,615,285
Shareholders' funds
945,708
1,615,385
For the year ending 30 September 2020 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.
The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2021 and were signed on its behalf by
A M McLay
Director
Company Registration No. 08225275
SCAFFTEQ WEST LTD
Notes to the Accounts
for the year ended 30 September 2020
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:
Land & buildings
10% straight line
Plant & machinery
15% reducing balance basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
15% reducing balance basis
Computer equipment
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 2020
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Government grants in relation to covid assistance are credited to profit and loss using the accrual model and are included in Other operating income.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 October 2019
-
3,498,099
422,777
7,087
-
3,927,963
Additions
3,120
453,917
-
753
8,382
466,172
Disposals
-
-
(14,803)
-
-
(14,803)
At 30 September 2020
3,120
3,952,016
407,974
7,840
8,382
4,379,332
At 1 October 2019
-
1,506,813
302,496
4,327
-
1,813,636
Charge for the year
215
331,060
29,411
447
437
361,570
On disposals
-
-
(12,168)
-
-
(12,168)
At 30 September 2020
215
1,837,873
319,739
4,774
437
2,163,038
At 30 September 2020
2,905
2,114,143
88,235
3,066
7,945
2,216,294
At 30 September 2019
-
1,991,286
120,281
2,760
-
2,114,327
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
477,155
503,524
- Motor vehicles
50,327
113,441
Work in progress
58,281
134,385
SCAFFTEQ WEST LTD
Notes to the Accounts
for the year ended 30 September 2020
6
Debtors: amounts falling due within one year
2020
2019
Trade debtors
840,858
705,057
Amounts due from group undertakings etc.
2,000,000
2,020,000
Accrued income and prepayments
54,511
31,369
Other debtors
108,599
2,700
Amounts due after more than one year
2,000,000
2,000,000
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Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
134,016
552,541
Obligations under finance leases and hire purchase contracts
44,244
25,801
Trade creditors
388,769
156,858
Amounts owed to group undertakings and other participating interests
12,766
-
Taxes and social security
1,222,256
490,689
Other creditors
47,074
32,750
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Creditors: amounts falling due after more than one year
2020
2019
Bank loans
2,375,667
1,795,677
Obligations under finance leases and hire purchase contracts
87,585
23,050
Aggregate of amounts that fall due for payment after five years
769,417
658,368
Creditors include secured bank loans of £2,125,667 (2019 - £1,908,367). 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
2020
2019
Accelerated capital allowances
255,019
199,141
Tax losses carried forward
(18,224)
-
Other deferred taxation
(14,559)
(272)
Provision at start of year
198,869
186,892
Charged to the profit and loss account
23,367
11,977
Provision at end of year
222,236
198,869
SCAFFTEQ WEST LTD
Notes to the Accounts
for the year ended 30 September 2020
10
Share capital
2020
2019
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Operating lease commitments
2020
2019
At 30 September 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
More than five years
508,343
564,825
The parent undertaking is SRS 2 Limited whose registered office is 33 Kidbrooke Grove, London, England, SE3 0LE.
13
Average number of employees
During the year the average number of employees was 90 (2019: 64).