SWALE_SCAFFOLDING_LIMITED - Accounts

SWALE SCAFFOLDING LIMITED - Company Information

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Company Registration No. 02030093 (England and Wales)

SWALE SCAFFOLDING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2015

SWALE SCAFFOLDING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

SWALE SCAFFOLDING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,130,751

1,138,447

Investments

400

1,131,151

1,138,847

Current assets

Stocks

4,734

6,418

Debtors

896,606

920,200

Cash at bank and in hand

578,694

262,163

1,480,034

1,188,781

Creditors: amounts falling due within one year

(573,599)

(556,131)

Net current assets

906,435

632,650

Total assets less current liabilities

2,037,586

1,771,497

Creditors: amounts falling due after more than one year

(299,608)

(351,479)

Provisions for liabilities

(96,286)

(85,679)

1,641,692

1,334,339

Capital and reserves

Called up share capital

50,000

Profit and loss account

1,591,692

1,284,339

Shareholders' funds

1,641,692

1,334,339

SWALE SCAFFOLDING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2015

- 2 -

For the financial year ended 31 July 2015 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 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 financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 16 December 2015

Mr P S Ward

Miss S Richardson

Director

Company Registration No. 02030093

SWALE SCAFFOLDING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Land and buildings Leasehold

4% straight line basis

Plant and machinery

20% reducing balance basis

Fixtures, fittings & equipment

20% reducing balance basis

Motor vehicles

25% reducing balance basis

1.4

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Pensions

The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the profit and loss account.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.9

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.

SWALE SCAFFOLDING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2015

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 August 2014

2,992,664

400

2,993,064

Additions

206,133

Disposals

(37,849)

At 31 July 2015

3,160,948

400

3,161,348

Depreciation

At 1 August 2014

1,854,217

On disposals

(20,069)

Charge for the year

196,049

At 31 July 2015

2,030,197

Net book value

At 31 July 2015

1,130,751

400

1,131,151

At 31 July 2014

1,138,447

400

1,138,847

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Swale Scaffolding (Hire) Limited

England

Ordinary

100.00

Swale Scaffolding Hire and Sales Limited

England

Ordinary

100.00

BP Garage Services Limited

England

Ordinary

100.00

Swale Netting Services Limited

England

Ordinary

100.00

SWALE SCAFFOLDING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2015

Fixed assets

(Continued)

- 5 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Swale Scaffolding (Hire) Limited

Swale Scaffolding Hire and Sales Limited

358,065

131,703

BP Garage Services Limited

Swale Netting Services Limited

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £63,807 (2014 - £72,928).

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

167,627

192,012

The aggregate amount of creditors for which security has been given amounted to £299,608 (2014 - £351,479).

Share capital

2015

2014

Allotted, called up and fully paid

50,000 Ordinary shares of £1 each

50,000

Related party relationships and transactions

Loans to directors

Included within other debtors is an amount due from M Ingleby and R Ingleby (a former director and wife of a former director). Advances during the year amounted to £1,376 with amount repaid totalling £1,377. The maximum amount outstanding during the year was £299. At the balance sheet date £298 (2014: £299) was outstanding. The loan is interest free and repayable on demand.