Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31No description of principal activity2022-08-01false2222truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC634391 2022-08-01 2023-07-31 SC634391 2021-08-01 2022-07-31 SC634391 2023-07-31 SC634391 2022-07-31 SC634391 c:Director1 2022-08-01 2023-07-31 SC634391 c:Director2 2022-08-01 2023-07-31 SC634391 c:RegisteredOffice 2022-08-01 2023-07-31 SC634391 d:Buildings 2022-08-01 2023-07-31 SC634391 d:Buildings 2023-07-31 SC634391 d:Buildings 2022-07-31 SC634391 d:Buildings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC634391 d:PlantMachinery 2022-08-01 2023-07-31 SC634391 d:PlantMachinery 2023-07-31 SC634391 d:PlantMachinery 2022-07-31 SC634391 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC634391 d:MotorVehicles 2022-08-01 2023-07-31 SC634391 d:MotorVehicles 2023-07-31 SC634391 d:MotorVehicles 2022-07-31 SC634391 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC634391 d:OfficeEquipment 2022-08-01 2023-07-31 SC634391 d:OfficeEquipment 2023-07-31 SC634391 d:OfficeEquipment 2022-07-31 SC634391 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC634391 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SC634391 d:CurrentFinancialInstruments 2023-07-31 SC634391 d:CurrentFinancialInstruments 2022-07-31 SC634391 d:Non-currentFinancialInstruments 2023-07-31 SC634391 d:Non-currentFinancialInstruments 2022-07-31 SC634391 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 SC634391 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 SC634391 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 SC634391 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 SC634391 d:ShareCapital 2023-07-31 SC634391 d:ShareCapital 2022-07-31 SC634391 d:RetainedEarningsAccumulatedLosses 2023-07-31 SC634391 d:RetainedEarningsAccumulatedLosses 2022-07-31 SC634391 c:OrdinaryShareClass1 2022-08-01 2023-07-31 SC634391 c:OrdinaryShareClass1 2023-07-31 SC634391 c:OrdinaryShareClass1 2022-07-31 SC634391 c:FRS102 2022-08-01 2023-07-31 SC634391 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SC634391 c:FullAccounts 2022-08-01 2023-07-31 SC634391 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC634391 6 2022-08-01 2023-07-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC634391










PATERSONS SKIP HIRE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

 
PATERSONS SKIP HIRE LIMITED
 

COMPANY INFORMATION


Directors
Mr K Paterson 
Mrs S Davidson 




Registered number
SC634391



Registered office
Unit 5 Baldovie Industrial Estate

Dundee

Angus

DD4 0NT




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
PATERSONS SKIP HIRE LIMITED
REGISTERED NUMBER: SC634391

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
2,206,543
2,033,858

Investments
 5 
-
100

  
2,206,543
2,033,958

Current assets
  

Stocks
  
2,000
2,000

Debtors: amounts falling due within one year
 6 
591,596
473,162

Cash at bank and in hand
  
113,999
112,586

  
707,595
587,748

Creditors: amounts falling due within one year
 7 
(695,505)
(669,756)

Net current assets/(liabilities)
  
 
 
12,090
 
 
(82,008)

Total assets less current liabilities
  
2,218,633
1,951,950

Creditors: amounts falling due after more than one year
 8 
(474,082)
(673,539)

Provisions for liabilities
  

Deferred tax
  
(478,955)
(338,948)

  
 
 
(478,955)
 
 
(338,948)

Net assets
  
1,265,596
939,463


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
1,265,594
939,461

  
1,265,596
939,463


Page 1

 
PATERSONS SKIP HIRE LIMITED
REGISTERED NUMBER: SC634391

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 February 2024.




Mr K Paterson
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PATERSONS SKIP HIRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Patersons Skip Hire Limited is a limited company incorporated in Scotland. The registered office and principle place of business is Unit 5 Baldovie Industrial Estate, Dundee, Angus, United Kingdom, DD4 0NT

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
PATERSONS SKIP HIRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance basis.

Depreciation is provided on the following basis:

Land and buildings
-
0% straight line
Plant and machinery
-
12.5% reducing balance
Motor vehicles
-
20% reducing balance
Office equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
PATERSONS SKIP HIRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 22).

Page 5

 
PATERSONS SKIP HIRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2022
213,626
2,330,674
210,031
23,097
2,777,428


Additions
-
294,133
214,117
2,380
510,630


Disposals
-
(24,250)
-
-
(24,250)



At 31 July 2023

213,626
2,600,557
424,148
25,477
3,263,808



Depreciation


At 1 August 2022
-
649,442
77,004
17,124
743,570


Charge for the year on owned assets
-
244,753
69,429
6,369
320,551


Disposals
-
(6,856)
-
-
(6,856)



At 31 July 2023

-
887,339
146,433
23,493
1,057,265



Net book value



At 31 July 2023
213,626
1,713,218
277,715
1,984
2,206,543

Page 6

 
PATERSONS SKIP HIRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Fixed asset investments





Investments in subsidiary companies

£





At 1 August 2022
100


Disposals
(100)



At 31 July 2023
-





6.


Debtors

2023
2022
£
£


Trade debtors
424,528
459,095

Prepayments and accrued income
147,295
4,084

Amounts owed by joint ventures and associated undertakings
-
9,983

Other debtors
19,773
-

591,596
473,162



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
80,179
112,661

Accruals and deferred income
23,151
22,934

Other taxation and social security
129,379
70,700

Other creditors
50,224
77,776

Obligations under finance lease and hire purchase contracts
412,572
385,685

695,505
669,756


The company granted standard and floating charges in favour of the Virgin Bank plc over all its land and buildings, undertakings, assets and rights now or in the future. 

Page 7

 
PATERSONS SKIP HIRE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
474,082
673,539

474,082
673,539



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



10.


Transactions with directors

Included within other debtors is an amount owed to the company from the directors amounting to £19,773 (2022: £nil). Interest has been charged on the loan at 2.5% on overdrawn balances for the whole year and the loan was fully repaid within 9 months of the year end.


Page 8