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PHR GRAB HIRE LTD

Registered Number
SC724386
(Scotland)

Unaudited Financial Statements for the Period ended
28 February 2023

PHR GRAB HIRE LTD
Company Information
for the period from 24 February 2022 to 28 February 2023

Director

MCNAUGHT, Ian Joseph

Registered Address

C/O Mccreath Accountancy, Lomond House, 4 South Street
Inchinnan
Renfrew
PA4 9RJ

Registered Number

SC724386 (Scotland)
PHR GRAB HIRE LTD
Balance Sheet as at
28 February 2023

Notes

2023

£

£

Fixed assets
Tangible assets91,212
91,212
Current assets
Debtors516,110
Cash at bank and on hand7,295
23,405
Creditors amounts falling due within one year6(117,026)
Net current assets (liabilities)(93,621)
Total assets less current liabilities(2,409)
Net assets(2,409)
Capital and reserves
Profit and loss account(2,409)
Shareholders' funds(2,409)
The financial statements were approved and authorised for issue by the Director on 20 November 2023, and are signed on its behalf by:
MCNAUGHT, Ian Joseph
Director
Registered Company No. SC724386
PHR GRAB HIRE LTD
Notes to the Financial Statements
for the period ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

2023
Average number of employees during the year0
5.Debtors

2023

£
Trade debtors / trade receivables8,496
Other debtors7,614
Total16,110
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors within one year

2023

£
Trade creditors / trade payables95,040
Bank borrowings and overdrafts19,025
Taxation and social security561
Other creditors2,400
Total117,026
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.