PDL Scaffolding Limited - Accounts to registrar (filleted) - small 18.2
PDL Scaffolding Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2021 |
for |
PDL Scaffolding Limited |
PDL Scaffolding Limited (Registered number: 03385123) |
Contents of the Financial Statements |
for the Year Ended 30 June 2021 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PDL Scaffolding Limited |
Company Information |
for the Year Ended 30 June 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
PDL Scaffolding Limited (Registered number: 03385123) |
Abridged Balance Sheet |
30 June 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
PDL Scaffolding Limited (Registered number: 03385123) |
Abridged Balance Sheet - continued |
30 June 2021 |
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 |
PDL Scaffolding Limited (Registered number: 03385123) |
Notes to the Financial Statements |
for the Year Ended 30 June 2021 |
1. | STATUTORY INFORMATION |
PDL Scaffolding Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The Covid-19 pandemic has created unique challenges for the business. The restrictions on corporate activity, disruptions in the supply chain, delays, and postponements on contracts due to Covid have had a material impact on the company's corporate strategies and trading. The directors consider that the company is a going concern subject to the continuing ongoing support of its financiers. |
Turnover |
Turnover represents net invoice value of goods,excluding value added tax. |
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 - 5% to 15% on cost |
Fixtures and fittings - 20% on cost |
Motor vehicles - 25% on cost |
Computer equipment - 33% on cost |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
PDL Scaffolding Limited (Registered number: 03385123) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2020 |
Additions |
Disposals | ( |
) |
At 30 June 2021 |
DEPRECIATION |
At 1 July 2020 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 June 2021 |
NET BOOK VALUE |
At 30 June 2021 |
At 30 June 2020 |
PDL Scaffolding Limited (Registered number: 03385123) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows: |
Totals |
£ |
COST |
At 1 July 2020 | 271,688 |
Additions | 85,521 |
Transfer to ownership | (17,500 | ) |
At 30 June 2021 | 339,709 |
DEPRECIATION |
At 1 July 2020 | 82,048 |
Charge for year | 26,278 |
Transfer to ownership | (5,396 | ) |
At 30 June 2021 | 102,930 |
NET BOOK VALUE |
At 30 June 2021 | 236,779 |
At 30 June 2020 | 189,640 |
5. | LEASING AGREEMENTS |
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases,which fall due as follows: |
Non-cancellable operating | leases |
2021 | 2020 |
£ | £ |
Within one year |
Between one and five years |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
H P Contracts and other loans | 1,108,626 | 863,906 |
The secured debts are secured over all of the fixed assets of the company, together with personal guarantee`s from the director`s over all of the above loans. |