Uniti Scaffolding Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10943678 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

UNITI SCAFFOLDING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Bowler

Mrs H Bowler

REGISTERED OFFICE:

Fern House

Coplow Lane

Foston

Derby

Derbyshire

DE65 5DL

REGISTERED NUMBER:

10943678 (England and Wales)

ACCOUNTANT:

Richards Associates Limited

Chartered Accountants

North Lodge

Hawkesyard

Armitage Lane

Rugeley

Staffordshire

WS15 1PS

FIXED ASSETS

Tangible assets

4

136,402

78,632

CURRENT ASSETS

Stocks

-

40,425

Debtors

5

73,034

12,477

Cash at bank

19,969

7,415

93,003

60,317

CREDITORS

Amounts falling due within one year

6

122,265

99,658

NET CURRENT LIABILITIES

(29,262

)

(39,341

)

TOTAL ASSETS LESS CURRENT LIABILITIES

107,140

39,291

CREDITORS

Amounts falling due after more than one year

7

(50,182

)

(19,444

)

PROVISIONS FOR LIABILITIES

9

(25,916

)

(14,940

)

NET ASSETS

31,042

4,907

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

30,942

4,807

SHAREHOLDERS' FUNDS

31,042

4,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 19 March 2021 and were signed on its behalf by:

A Bowler - Director

1.	STATUTORY INFORMATION

Uniti Scaffolding Limited 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

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.

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

Computer Equipment

-

33% on cost

Government grants

Government grants are recognised when there is reasonable assurance that the entity will comply with the conditions attaching to the grant and the grant will be received. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognizes the related costs for which the grant is intended to compensate.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The directors continue to adopt the going concern basis of accounting in preparing financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

Equipment

Totals

£

£

£

£

£

COST

At 1 October 2019

72,735

-

13,292

120

86,147

Additions

80,015

499

3,500

1,887

85,901

At 30 September 2020

152,750

499

16,792

2,007

172,048

DEPRECIATION

At 1 October 2019

5,381

-

2,094

40

7,515

Charge for year

24,332

10

3,417

372

28,131

At 30 September 2020

29,713

10

5,511

412

35,646

NET BOOK VALUE

At 30 September 2020

123,037

489

11,281

1,595

136,402

At 30 September 2019

67,354

-

11,198

80

78,632

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

Plant and

machinery

£

COST

At 1 October 2019

and 30 September 2020

35,000

DEPRECIATION

At 1 October 2019

1,458

Charge for year

8,750

At 30 September 2020

10,208

NET BOOK VALUE

At 30 September 2020

24,792

At 30 September 2019

33,542

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade debtors

68,763

8,772

Other debtors

4,271

3,705

73,034

12,477

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans and overdrafts (see note 8)

2,667

-

Hire purchase contracts

11,667

11,667

Trade creditors

43,001

20,317

Taxation and social security

19,058

16,707

Other creditors

45,872

50,967

122,265

99,658

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.20

30.9.19

£

£

Bank loans (see note 8)

37,333

-

Hire purchase contracts

12,849

19,444

50,182

19,444

8.

LOANS

An analysis of the maturity of loans is given below:

30.9.20

30.9.19

£

£

Amounts falling due within one year or on demand:

Bank loans

2,667

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

8,000

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

29,333

-

Interest is payable on the loan at 2% after year one.

9.	PROVISIONS FOR LIABILITIES

30.9.20

30.9.19

£

£

Deferred tax

25,916

14,940

Deferred

tax

£

Balance at 1 October 2019

14,940

Provided during year

10,976

Balance at 30 September 2020

25,916

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.20

30.9.19

value:

£

£

100

Ordinary

1

100

100

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Bowler.

12.	WORKING CAPITAL DEFICIT

Current liabilities exceed current assets, however, the company is able to meet its liabilities as they fall due.