EXTRA ACCESS (SCAFFOLDS) LIMITED

Company Registration Number:
SC446742 (Scotland)

Unaudited abridged accounts for the year ended 30 April 2017

Period of accounts

Start date: 01 May 2016

End date: 30 April 2017

EXTRA ACCESS (SCAFFOLDS) LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2017

Balance sheet
Notes

EXTRA ACCESS (SCAFFOLDS) LIMITED

Balance sheet

As at 30 April 2017


Notes

2017

2016


£

£
Fixed assets
Tangible assets: 3 93,598 87,456
Total fixed assets: 93,598 87,456
Current assets
Debtors: 4 141,861 134,425
Cash at bank and in hand: 52,499 49,162
Total current assets: 194,360 183,587
Creditors: amounts falling due within one year:   (194,819) (201,113)
Net current assets (liabilities): (459) (17,526)
Total assets less current liabilities: 93,139 69,930
Provision for liabilities: (17,783) 0
Total net assets (liabilities): 75,356 69,930
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 75,256 69,830
Shareholders funds: 75,356 69,930

The notes form part of these financial statements

EXTRA ACCESS (SCAFFOLDS) LIMITED

Balance sheet statements

For the year ending 30 April 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 16 December 2017
and signed on behalf of the board by:

Name: J Perry
Status: Director

The notes form part of these financial statements

EXTRA ACCESS (SCAFFOLDS) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Tangible fixed assets and depreciation policy

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount. Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:Equipment, fixtures and fittings 20% reducing balancePlant and machinery 10% reducing balance

Other accounting policies

FINANCE LEASES AND HIRE PURCHASE CONTRACTS Assets held under finance leases are recognised in the 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. FINANCIAL INSTRUMENTS A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or lossFinancial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. DEFERRED TAX Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date. PROVISION FOR LIABILITIES 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 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 in finance costs in profit or loss in the period it arises.

EXTRA ACCESS (SCAFFOLDS) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2017

2. Employees

2017 2016
Average number of employees during the period 11 9

EXTRA ACCESS (SCAFFOLDS) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2017


3. Tangible Assets

Total
Cost £
At 01 May 2016 116,754
Additions 18,000
At 30 April 2017 134,754
Depreciation
At 01 May 2016 29,298
Charge for year 11,858
At 30 April 2017 41,156
Net book value
At 30 April 2017 93,598
At 30 April 2016 87,456

EXTRA ACCESS (SCAFFOLDS) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2017

4. Debtors


2017
£

2016
£
Debtors due after more than one year: 0 0

EXTRA ACCESS (SCAFFOLDS) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2017

5. Changes in presentation and prior period adjustments

First time adoption of FRS 102As required in Section 35 of FRS 102, the balances previously reported under the old UK GAAP at the date of transition, 1 May 2016, and the prior year end, 30 April 2016 need to be restated for the changes which have occurred on transition to FRS 102.No restatement of the Profit and Loss Account or Balance Sheet and no changes to accounting policies have been required on transition.