PH SCAFFOLDING & SKIP HIRE LIMITED Filleted accounts for Companies House (small and micro)

PH SCAFFOLDING & SKIP HIRE LIMITED - Company Information

false false false false false false false false false true false false false false false true true No description of principal activity 2018-09-01 Sage Accounts Production Advanced 2018 Update 1 - FRS xbrli:pure xbrli:shares iso4217:GBP 03812829 2018-09-01 2019-08-31 03812829 2019-08-31 03812829 2018-08-31 03812829 2017-09-01 2018-08-31 03812829 2018-08-31 03812829 core:NetGoodwill 2018-09-01 2019-08-31 03812829 core:PlantMachinery 2018-09-01 2019-08-31 03812829 core:MotorVehicles 2018-09-01 2019-08-31 03812829 bus:Director1 2018-09-01 2019-08-31 03812829 bus:Director2 2018-09-01 2019-08-31 03812829 core:WithinOneYear 2019-08-31 03812829 core:WithinOneYear 2018-08-31 03812829 core:AfterOneYear 2019-08-31 03812829 core:AfterOneYear 2018-08-31 03812829 core:ShareCapital 2019-08-31 03812829 core:ShareCapital 2018-08-31 03812829 core:RetainedEarningsAccumulatedLosses 2019-08-31 03812829 core:RetainedEarningsAccumulatedLosses 2018-08-31 03812829 core:CostValuation core:Non-currentFinancialInstruments 2019-08-31 03812829 core:Non-currentFinancialInstruments 2019-08-31 03812829 core:Non-currentFinancialInstruments 2018-08-31 03812829 bus:SmallEntities 2018-09-01 2019-08-31 03812829 bus:AuditExemptWithAccountantsReport 2018-09-01 2019-08-31 03812829 bus:AbridgedAccounts 2018-09-01 2019-08-31 03812829 bus:SmallCompaniesRegimeForAccounts 2018-09-01 2019-08-31 03812829 bus:PrivateLimitedCompanyLtd 2018-09-01 2019-08-31 03812829 core:OfficeEquipment 2018-09-01 2019-08-31

COMPANY REGISTRATION NUMBER: 03812829

PH SCAFFOLDING & SKIP HIRE LIMITED

Filleted Unaudited Abridged Financial Statements

31 August 2019

PH SCAFFOLDING & SKIP HIRE LIMITED

Abridged Statement of Financial Position

31 August 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	6	231,178	193,911
Investments	7	1	1
		---------	---------
		231,179	193,912

Current assets

Stocks	120	120
Debtors	567,308	645,402
Cash at bank and in hand	7,965	–
	---------	---------
	575,393	645,522

Creditors: amounts falling due within one year	172,446		214,585
	---------		---------
Net current assets		402,947	430,937
		---------	---------
Total assets less current liabilities		634,126	624,849

Creditors: amounts falling due after more than one year		53,024	22,953

Provisions

Taxation including deferred tax	12,900	35,550
	---------	---------
Net assets	568,202	566,346
	---------	---------

PH SCAFFOLDING & SKIP HIRE LIMITED

Abridged Statement of Financial Position (continued)

31 August 2019

	2019		2018
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	568,102	566,246
	---------	---------
Shareholders funds	568,202	566,346
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31st August 2019 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31st August 2019 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 9 March 2020 , and are signed on behalf of the board by:

P A HUDSON	D S HUDSON
Director	Director

Company registration number: 03812829

PH SCAFFOLDING & SKIP HIRE LIMITED

Notes to the Abridged Financial Statements

Year ended 31st August 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 205 Wells Road, Knowle, Bristol, BS4 2DF. The address of the principal place of business is Unit 18 Bakers Park, Cater Road, Bishopsworth, Bristol, BS13 7TT.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss . The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company. Disclosures in respect of financial instruments have not been presented.

Consolidation

The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Equipment	-	15% straight line
Motor Vehicles	-	25% straight line
Office Equipment	-	15% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 21 (2018: 20 ).

5. Intangible assets

	£
Cost
At 1st September 2018 and 31st August 2019	100
	----
Amortisation
At 1st September 2018 and 31st August 2019	100
	----
Carrying amount
At 31st August 2019	–
	----
At 31st August 2018	–
	----

6. Tangible assets

	£
Cost
At 1st September 2018	643,472
Additions	176,998
Disposals	( 99,096)
	---------
At 31st August 2019	721,374
	---------
Depreciation
At 1st September 2018	449,561
Charge for the year	133,707
Disposals	( 93,072)
	---------
At 31st August 2019	490,196
	---------
Carrying amount
At 31st August 2019	231,178
	---------
At 31st August 2018	193,911
	---------

7. Investments

	£
Cost
At 1st September 2018 and 31st August 2019	1
	----
Impairment
At 1st September 2018 and 31st August 2019	–
	----
Carrying amount
At 31st August 2019	1
	----
At 31st August 2018	1
	----

8. Defined contribution plans

The company operates a pension scheme for employees. The company makes contributions to the scheme and the benefits are provided by policies effected with NEST. The contributions are defined as such amounts as the company, at its discretion, shall from time to time decide, subject to minima required by current legislation.

The charge to the profit and loss account in respect of the pension contributions in the period amounted to £10,631 (2018 - £5,764).

9. Related party transactions

The company was under the control of Mr and Mrs P A Hudson throughout the current and previous year. Mr and Mrs Hudson are the majority shareholders. The company paid rent for yards, owned personally by Mr and Mrs Hudson. The company paid rent of £34,800 (2018 - £34,800) in the year which was the market rate .