Skyline Access Scaffolding Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07673143 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2020

for

Skyline Access Scaffolding Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P J King

R P King

R W Alford

SECRETARY:

P J King

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

REGISTERED NUMBER:

07673143 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

4

43,865

50,906

CURRENT ASSETS

Stocks

6,250

6,250

Debtors

5

172,657

122,043

Cash at bank and in hand

40,253

61,009

219,160

189,302

CREDITORS

Amounts falling due within one year

6

176,856

198,277

NET CURRENT ASSETS/(LIABILITIES)

42,304

(8,975

)

TOTAL ASSETS LESS CURRENT LIABILITIES

86,169

41,931

CREDITORS

Amounts falling due after more than one year

7

-

(3,796

)

PROVISIONS FOR LIABILITIES

(7,675

)

(8,615

)

NET ASSETS

78,494

29,520

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

78,394

29,420

SHAREHOLDERS' FUNDS

78,494

29,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 27 May 2021 and were signed on its behalf by:

P J King - Director

1.	STATUTORY INFORMATION

Skyline Access Scaffolding 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.

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 reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33.33% on cost

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.

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.

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 (2019 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 September 2019

102,476

828

3,181

106,485

Additions

10,420

-

-

10,420

Disposals

(19,250

)

-

-

(19,250

)

At 31 August 2020

93,646

828

3,181

97,655

DEPRECIATION

At 1 September 2019

52,850

436

2,293

55,579

Charge for year

13,469

59

417

13,945

Eliminated on disposal

(15,734

)

-

-

(15,734

)

At 31 August 2020

50,585

495

2,710

53,790

NET BOOK VALUE

At 31 August 2020

43,061

333

471

43,865

At 31 August 2019

49,626

392

888

50,906

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

Plant and

machinery

£

COST

Reclassification/transfer

8,993

At 31 August 2020

8,993

DEPRECIATION

At 1 September 2019

562

Charge for year

2,108

At 31 August 2020

2,670

NET BOOK VALUE

At 31 August 2020

6,323

At 31 August 2019

(562

)

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade debtors

161,665

88,266

Other debtors

22

22

Directors' current accounts

3,979

27,509

Tax

938

938

Prepayments and accrued income

460

-

Prepayments

5,593

5,308

172,657

122,043

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Hire purchase contracts

3,796

4,555

Trade creditors

11,493

60,252

Social security and other taxes

9,361

15,199

VAT

88,321

86,083

Other creditors

30

1,787

Intercompany

54,987

22,987

Directors' current accounts

1,720

1,720

Accrued expenses

7,148

5,694

176,856

198,277

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.20

31.8.19

£

£

Hire purchase contracts

-

3,796

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.20

31.8.19

£

£

Hire purchase contracts

3,796

8,351

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.8.20

31.8.19

value:

£

£

100

Share capital 1

£1

100

100

10.	OTHER FINANCIAL COMMITMENTS

At 31 August 2020, the company had total commitments under non-cancellable operating leases over the remaining life of the rental lease of £132,000. (2019: £160,800).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2020 and 31 August 2019:

31.8.20

31.8.19

£

£

P J King

Balance outstanding at start of year

3,979

2,437

Amounts advanced

-

1,542

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,979

3,979

R W Alford

Balance outstanding at start of year

23,530

450

Amounts advanced

-

23,080

Amounts repaid

(23,530

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

23,530

R P King

Balance outstanding at start of year

(1,720

)

(1,720

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,720

)

(1,720

)

12.	RELATED PARTY DISCLOSURES

During the year the company wrote off loans of £nil (2019 - £152,279) with other related parties. The other parties involved were in agreement of this treatment.

At the year-end date the company owed £54,987 (2019 - £22,987) to related parties under common control. No interest was payable on this balance.

13.	ULTIMATE CONTROLLING PARTY

The director Mr P J King owns 50% of the issued share capital in and is the ultimate controlling party of Skyline Access Scaffolding Limited.