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REGISTERED NUMBER: SC711836















DM TRANSPORT AND CRANE HIRE LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






DM TRANSPORT AND CRANE HIRE LTD (REGISTERED NUMBER: SC711836)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


DM TRANSPORT AND CRANE HIRE LTD (REGISTERED NUMBER: SC711836)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 109,350 121,500

CURRENT ASSETS
Debtors 5 11,720 15,379
Cash at bank 55,173 38,802
66,893 54,181
CREDITORS
Amounts falling due within one year 6 33,082 34,274
NET CURRENT ASSETS 33,811 19,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,161

141,407

CREDITORS
Amounts falling due after more than one
year

7

120,750

145,050
NET ASSETS/(LIABILITIES) 22,411 (3,643 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 22,111 (3,943 )
SHAREHOLDERS' FUNDS 22,411 (3,643 )

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

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

DM TRANSPORT AND CRANE HIRE LTD (REGISTERED NUMBER: SC711836)

BALANCE SHEET - continued
31 OCTOBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





G D J Martin - Director


DM TRANSPORT AND CRANE HIRE LTD (REGISTERED NUMBER: SC711836)

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

1. STATUTORY INFORMATION

DM Transport and Crane Hire Ltd is a private company, limited by shares, registered in Scotland. The company's registered office address is 28 Field Road, Busby, East Renfrewshire, United Kingdom, G76 8SE.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Turnover
Turnover comprises the invoice value of services rendered during the year, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the services have been passed to the buyer.

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 etc - 15% on reducing balance

Tangible fixed assets are included at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

DM TRANSPORT AND CRANE HIRE LTD (REGISTERED NUMBER: SC711836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from third parties, and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Hire purchase and leasing commitments
Assets purchased under finance leases and hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account over the relevant period.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

DM TRANSPORT AND CRANE HIRE LTD (REGISTERED NUMBER: SC711836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 135,000
DEPRECIATION
At 1 November 2022 13,500
Charge for year 12,150
At 31 October 2023 25,650
NET BOOK VALUE
At 31 October 2023 109,350
At 31 October 2022 121,500

At the balance sheet date, assets held under hire purchase contracts had a net book value of £109,350 (2022: £121,500)

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,420 9,091
Other debtors 300 6,288
11,720 15,379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 24,300 24,300
Trade creditors 2,665 3,622
Taxation and social security 3,859 4,252
Other creditors 2,258 2,100
33,082 34,274

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 60,750 85,050
Other creditors 60,000 60,000
120,750 145,050

DM TRANSPORT AND CRANE HIRE LTD (REGISTERED NUMBER: SC711836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 85,050 109,350

Hire purchase liabilities are secured over the assets to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 October 2023 and the period ended 31 October 2022:

2023 2022
£    £   
G D J Martin
Balance outstanding at start of year 1,000 -
Amounts advanced - 1,000
Amounts repaid (1,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,000

H J Davies
Balance outstanding at start of year 2,000 -
Amounts advanced - 2,000
Amounts repaid (2,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,000

Amounts detailed above are interest free and carry no fixed repayment terms.

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed a company under common control £60,000 (2022: £60,000). This amount is interest free, unsecured and carries no fixed terms of repayment.