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REGISTERED NUMBER: 07064352 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MERCER SCAFFOLDING & PLANT HIRE LIMITED

MERCER SCAFFOLDING & PLANT HIRE LIMITED (REGISTERED NUMBER: 07064352)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

MERCER SCAFFOLDING & PLANT HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: C L Mercer
N Mercer
K E Akehurst





REGISTERED OFFICE: Manor Farm
Manor Road
Longfield Hill
Longfield
Kent
DA3 8LD





REGISTERED NUMBER: 07064352 (England and Wales)





ACCOUNTANTS: Stephen Hill Mid Kent Limited
31-33 Albion Place
Sittingbourne Road
Maidstone
Kent
ME14 5DZ

MERCER SCAFFOLDING & PLANT HIRE LIMITED (REGISTERED NUMBER: 07064352)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,064,154 5,560,016

CURRENT ASSETS
Stocks 363,100 453,304
Debtors 5 793,374 713,743
Cash at bank 95,980 22,480
1,252,454 1,189,527
CREDITORS
Amounts falling due within one year 6 2,117,399 1,794,895
NET CURRENT LIABILITIES (864,945 ) (605,368 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,199,209

4,954,648

CREDITORS
Amounts falling due after more than one year 7 (682,513 ) (1,084,013 )

PROVISIONS FOR LIABILITIES (1,336,564 ) (811,302 )
NET ASSETS 4,180,132 3,059,333

CAPITAL AND RESERVES
Called up share capital 7 7
Retained earnings 4,180,125 3,059,326
SHAREHOLDERS' FUNDS 4,180,132 3,059,333

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.

MERCER SCAFFOLDING & PLANT HIRE LIMITED (REGISTERED NUMBER: 07064352)

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 Statement of Income and Retained Earnings 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:




N Mercer - Director



K E Akehurst - Director


MERCER SCAFFOLDING & PLANT HIRE LIMITED (REGISTERED NUMBER: 07064352)

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

1. STATUTORY INFORMATION

Mercer Scaffolding & Plant Hire Limited is a private company, limited by shares , registered in England and Wales. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MERCER SCAFFOLDING & PLANT HIRE LIMITED (REGISTERED NUMBER: 07064352)

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

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 8,671,043
Additions 2,390,115
At 31 October 2023 11,061,158
DEPRECIATION
At 1 November 2022 3,111,027
Charge for year 885,977
At 31 October 2023 3,997,004
NET BOOK VALUE
At 31 October 2023 7,064,154
At 31 October 2022 5,560,016

MERCER SCAFFOLDING & PLANT HIRE LIMITED (REGISTERED NUMBER: 07064352)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022 743,008
Transfer to ownership (73,805 )
At 31 October 2023 669,203
DEPRECIATION
At 1 November 2022 219,644
Charge for year 57,858
Transfer to ownership (56,291 )
At 31 October 2023 221,211
NET BOOK VALUE
At 31 October 2023 447,992
At 31 October 2022 523,364

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 729,964 695,596
Amounts owed by group undertakings 37,701 -
Other debtors 25,709 18,147
793,374 713,743

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 367,575 493,558
Hire purchase contracts 225,473 243,117
Trade creditors 1,044,688 926,059
Amounts owed to group undertakings 429 20,945
Taxation and social security 447,683 62,769
Other creditors 31,551 48,447
2,117,399 1,794,895

MERCER SCAFFOLDING & PLANT HIRE LIMITED (REGISTERED NUMBER: 07064352)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 15,513 285,360
Hire purchase contracts 120,539 348,156
Trade creditors 546,461 450,497
682,513 1,084,013

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 346,012 591,273

9. OFF-BALANCE SHEET ARRANGEMENTS

The company has operating leases with a contractual obligation of £39,391 within 12 months and a further £64,839 thereafter.

10. RELATED PARTY DISCLOSURES

At the balance sheet date the immediate parent company Mercer (Group) Limited was owed by the company £429 (2022- £429). The loan is unsecured, interest free and payable on demand.

At the balance sheet date a fellow wholly owned subsidiary Mercer Building Services Ltd owed the company £37,701 (2022 -£20,516 was owed). The loan is unsecured, interest free and payable on demand.

During the year the company traded with this fellow subsidiary and the total value of invoices raised was £81,680 (2022 - £146,164).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MERCER SCAFFOLDING & PLANT HIRE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mercer Scaffolding & Plant Hire Limited for the year ended 31 October 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mercer Scaffolding & Plant Hire Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mercer Scaffolding & Plant Hire Limited and state those matters that we have agreed to state to the Board of Directors of Mercer Scaffolding & Plant Hire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mercer Scaffolding & Plant Hire Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mercer Scaffolding & Plant Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mercer Scaffolding & Plant Hire Limited. You consider that Mercer Scaffolding & Plant Hire Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mercer Scaffolding & Plant Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stephen Hill Mid Kent Limited
31-33 Albion Place
Sittingbourne Road
Maidstone
Kent
ME14 5DZ


24 July 2024