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REGISTERED NUMBER: SC122820 (Scotland)






























Financial Statements for the Year Ended 31 July 2023

for

Ritchie's Plant Hire Limited

Ritchie's Plant Hire Limited (Registered number: SC122820)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ritchie's Plant Hire Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: D A Ritchie
Miss A M Ritchie





SECRETARY: D A Ritchie





REGISTERED OFFICE: First Floor
5 Abercombie Court Prospect Road
Arnhall Business Park, Westhill
Aberdeen
AB32 6FE





REGISTERED NUMBER: SC122820 (Scotland)





ACCOUNTANTS: A J Croll & Company
19 Bon Accord Crescent
Aberdeen
Aberdeenshire
AB11 6DE

Ritchie's Plant Hire Limited (Registered number: SC122820)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 394,697 442,451

CURRENT ASSETS
Stocks 86,552 101,156
Debtors 5 26,935 9,344
Cash in hand 123 123
113,610 110,623
CREDITORS
Amounts falling due within one year 6 270,689 311,512
NET CURRENT LIABILITIES (157,079 ) (200,889 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

237,618

241,562

CREDITORS
Amounts falling due after more than one
year

7

49,116

14,298
NET ASSETS 188,502 227,264

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 187,502 226,264
SHAREHOLDERS' FUNDS 188,502 227,264

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Ritchie's Plant Hire Limited (Registered number: SC122820)

Balance Sheet - continued
31 July 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 16 April 2024 and were signed on its behalf by:





D A Ritchie - Director


Ritchie's Plant Hire Limited (Registered number: SC122820)

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

1. STATUTORY INFORMATION

Ritchie's 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 5% on cost
Improvements to property - 5% on cost
Plant and machinery - 20-25% on cost
Computer equipment - 33% on cost

Stocks
Stocks 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Ritchie's Plant Hire Limited (Registered number: SC122820)

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold Long to
property leasehold property
£    £    £   
COST
At 1 August 2022 2,000 454,034 221,816
Additions - - -
Disposals - - -
At 31 July 2023 2,000 454,034 221,816
DEPRECIATION
At 1 August 2022 - 216,755 105,791
Charge for year - 17,169 10,678
Eliminated on disposal - - -
At 31 July 2023 - 233,924 116,469
NET BOOK VALUE
At 31 July 2023 2,000 220,110 105,347
At 31 July 2022 2,000 237,279 116,025

Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 377,549 10,700 580 1,066,679
Additions 63,500 - - 63,500
Disposals (265,515 ) - - (265,515 )
At 31 July 2023 175,534 10,700 580 864,664
DEPRECIATION
At 1 August 2022 300,745 357 580 624,228
Charge for year 11,247 2,140 - 41,234
Eliminated on disposal (195,495 ) - - (195,495 )
At 31 July 2023 116,497 2,497 580 469,967
NET BOOK VALUE
At 31 July 2023 59,037 8,203 - 394,697
At 31 July 2022 76,804 10,343 - 442,451

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 15,125 3,453
Other debtors 11,810 5,891
26,935 9,344

Ritchie's Plant Hire Limited (Registered number: SC122820)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 97,695 88,984
Hire purchase contracts 14,267 21,896
Trade creditors 65,396 8,607
Taxation and social security 1,207 -
Other creditors 92,124 192,025
270,689 311,512

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 49,116 14,298

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank overdrafts 97,695 88,984

The Bank Loan/Overdraft is secured by a Bond & Floating charge over the company's assets.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D A Ritchie.