STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
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All of the members of Ashdurn Scaffolding Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
02838493
ASHDURN SCAFFOLDING LIMITED
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FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
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ASHDURN SCAFFOLDING LIMITED
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REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF
ASHDURN SCAFFOLDING LIMITED
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YEAR ENDED 31 DECEMBER 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Ashdurn Scaffolding Limited for the year ended 31 December 2020, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LANGARD LIFFORD HALL LIMITED
Accountants and Registered Auditors
Lifford Hall
Lifford Lane
Kings Norton
Birmingham
B30 3JN
1 April 2021
ASHDURN SCAFFOLDING LIMITED
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ABRIDGED STATEMENT OF FINANCIAL POSITION
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31 December 2020
Fixed assets
Tangible assets
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4
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366,306
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366,306
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Investments
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5
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1,499,407
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1,499,407
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1,865,713
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1,865,713
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Current assets
Debtors
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20,000
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20,000
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Cash at bank and in hand
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215,729
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3,557
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235,729
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23,557
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Creditors: amounts falling due within one year
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282,797
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135,332
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Net current liabilities
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47,068
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111,775
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Total assets less current liabilities
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1,818,645
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1,753,938
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Capital and reserves
Called up share capital
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100
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100
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Profit and loss account
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1,818,545
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1,753,838
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Shareholders funds
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1,818,645
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1,753,938
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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ASHDURN SCAFFOLDING LIMITED
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ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
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31 December 2020
These abridged financial statements were approved by the
board of directors
and authorised for issue on
1 April 2021
, and are signed on behalf of the board by:
Company registration number:
02838493
ASHDURN SCAFFOLDING LIMITED
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NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
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YEAR ENDED 31 DECEMBER 2020
1.
General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.
2.
Statement of Compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting Policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents the value of work and services provided during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
Tangible Assets
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£
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Cost
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At 1 January 2020 and 31 December 2020
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366,306
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Depreciation
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At 1 January 2020 and 31 December 2020
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–
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Carrying amount
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At 31 December 2020
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366,306
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At 31 December 2019
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366,306
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5.
Investments
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£
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Cost
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At 1 January 2020 and 31 December 2020
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1,499,407
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Impairment
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At 1 January 2020 and 31 December 2020
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–
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Carrying amount
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At 31 December 2020
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1,499,407
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At 31 December 2019
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1,499,407
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6.
Parent Undertaking
The company's parent company at the balance sheet date was Ashdurn Holdings Limited. Ashdurn Holdings Limited is registered in England & Wales and their registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.