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REGISTERED NUMBER: SC258379 (Scotland)












Financial Statements

for the Year Ended 31 March 2023

for

Eagle Plant Hire Limited

Eagle Plant Hire Limited (Registered number: SC258379)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Eagle Plant Hire Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: C R Inglis
Mrs C Inglis
D Smeaton
I MacDonald
J Cummings
G J Reynolds
J Monaghan
L Cummings





REGISTERED OFFICE: Radleigh House
I Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC258379 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Eagle Plant Hire Limited (Registered number: SC258379)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 5,345,159 5,494,012
5,345,159 5,494,012

CURRENT ASSETS
Inventories 151,495 112,112
Debtors 6 806,226 766,989
Cash at bank and in hand 229,276 154,682
1,186,997 1,033,783
CREDITORS
Amounts falling due within one year 7 1,932,198 1,978,594
NET CURRENT LIABILITIES (745,201 ) (944,811 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,599,958

4,549,201

CREDITORS
Amounts falling due after more than one year 8 (2,093,587 ) (2,417,185 )

PROVISIONS FOR LIABILITIES (929,253 ) -
NET ASSETS 1,577,118 2,132,016

CAPITAL AND RESERVES
Called up share capital 9 25,000 25,000
Revaluation reserve 10 170,100 170,100
Retained earnings 1,382,018 1,936,916
SHAREHOLDERS' FUNDS 1,577,118 2,132,016

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Eagle Plant Hire Limited (Registered number: SC258379)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 30 October 2023 and were signed on its behalf by:




C R Inglis - Director J Cummings - Director




I MacDonald - Director


Eagle Plant Hire Limited (Registered number: SC258379)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Eagle Plant Hire Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of plant hire services, excluding value added tax and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - Evenly over the estimated life of assets
Motor vehicles - S/L over 7 yrs with residual of 30%
Computer equipment - 33% on cost

Inventories
Inventories 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.

Eagle Plant Hire Limited (Registered number: SC258379)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2022 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 204,000
AMORTISATION
At 1 April 2022
and 31 March 2023 204,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Eagle Plant Hire Limited (Registered number: SC258379)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2022 7,164,098 620,165 60,484 7,844,747
Additions 1,301,224 59,244 2,784 1,363,252
Disposals (881,467 ) (54,992 ) - (936,459 )
Revaluations (172,193 ) (25,505 ) - (197,698 )
At 31 March 2023 7,411,662 598,912 63,268 8,073,842
DEPRECIATION
At 1 April 2022 2,160,132 141,030 49,573 2,350,735
Charge for year 843,960 68,709 9,936 922,605
Eliminated on disposal (376,865 ) (22,197 ) - (399,062 )
Revaluation adjustments (118,685 ) (26,910 ) - (145,595 )
At 31 March 2023 2,508,542 160,632 59,509 2,728,683
NET BOOK VALUE
At 31 March 2023 4,903,120 438,280 3,759 5,345,159
At 31 March 2022 5,003,966 479,135 10,911 5,494,012

Cost or valuation at 31 March 2023 is represented by:

Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Valuation in 2023 7,411,662 598,912 63,268 8,073,842

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 798,630 760,268
Other debtors 7,596 6,721
806,226 766,989

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 231,169 235,434
Hire purchase contracts 1,157,074 1,194,030
Trade creditors 297,727 233,856
Taxation and social security 209,111 266,031
Other creditors 37,117 49,243
1,932,198 1,978,594

Eagle Plant Hire Limited (Registered number: SC258379)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 330,609 523,210
Hire purchase contracts 1,761,330 1,893,907
Other creditors 1,648 68
2,093,587 2,417,185

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25,000 Ordinary £1 25,000 25,000

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 170,100