EXTRA ACCESS (SCAFFOLDS) LIMITED

Company Registration Number:
SC446742 (Scotland)

Unaudited statutory accounts for the year ended 30 April 2019

Period of accounts

Start date: 1 May 2018

End date: 30 April 2019

EXTRA ACCESS (SCAFFOLDS) LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2019

Balance sheet
Additional notes
Balance sheet notes

EXTRA ACCESS (SCAFFOLDS) LIMITED

Balance sheet

As at 30 April 2019

Notes 2019 2018


£

£
Fixed assets
Tangible assets: 3 74,030 83,188
Total fixed assets: 74,030 83,188
Current assets
Debtors: 4 271,966 158,006
Cash at bank and in hand: 81,113 14,819
Total current assets: 353,079 172,825
Creditors: amounts falling due within one year: 5 ( 240,985 ) ( 174,036 )
Net current assets (liabilities): 112,094 (1,211)
Total assets less current liabilities: 186,124 81,977
Creditors: amounts falling due after more than one year: 6 ( 62,500 ) 0
Provision for liabilities: ( 14,066 ) ( 15,806 )
Total net assets (liabilities): 109,558 66,171
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 109,458 66,071
Total Shareholders' funds: 109,558 66,171

The notes form part of these financial statements

EXTRA ACCESS (SCAFFOLDS) LIMITED

Balance sheet statements

For the year ending 30 April 2019 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.

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

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 12 December 2019
and signed on behalf of the board by:

Name: J A 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 2019

  • 1. Accounting policies

    Basis of measurement and preparation

    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 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 at 20% reducing balancePlant and machinery at 10% reducing balance

    Other accounting policies

    IMPAIRMENT A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 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 2019

  • 2. Employees

    2019 2018
    Average number of employees during the period 10 10

EXTRA ACCESS (SCAFFOLDS) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2019

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2018 119,754 15,000 134,754
Additions
Disposals
Revaluations
Transfers
At 30 April 2019 119,754 15,000 134,754
Depreciation
At 1 May 2018 44,964 6,602 51,566
Charge for year 7,479 1,679 9,158
On disposals
Other adjustments
At 30 April 2019 52,443 8,281 60,724
Net book value
At 30 April 2019 67,311 6,719 74,030
At 30 April 2018 74,790 8,398 83,188

EXTRA ACCESS (SCAFFOLDS) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2019

4. Debtors

2019 2018
£ £
Trade debtors 256,095 114,375
Other debtors 15,871 43,631
Total 271,966 158,006

EXTRA ACCESS (SCAFFOLDS) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2019

5. Creditors: amounts falling due within one year note

2019 2018
£ £
Bank loans and overdrafts 168,375 100,337
Trade creditors 5,813 10,902
Taxation and social security 57,414 57,684
Other creditors 9,383 5,113
Total 240,985 174,036

EXTRA ACCESS (SCAFFOLDS) LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2019

6. Creditors: amounts falling due after more than one year note

2019
£
Bank loans and overdrafts 62,500 0
Total 62,500 0