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REGISTERED NUMBER: SC212506 (Scotland)




















4 X 4 HIRE (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






4 X 4 HIRE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC212506)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

4 X 4 HIRE (SCOTLAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: E M Buchan





REGISTERED OFFICE: 1875 Great Western Road
Glasgow
G13 2YD





REGISTERED NUMBER: SC212506 (Scotland)





ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD

4 X 4 HIRE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC212506)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,705,735 1,424,881

CURRENT ASSETS
Debtors 5 1,322,120 1,067,654
Cash at bank 126,684 41
1,448,804 1,067,695
CREDITORS
Amounts falling due within one year 6 1,258,985 951,537
NET CURRENT ASSETS 189,819 116,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,895,554

1,541,039

CREDITORS
Amounts falling due after more than one
year

7

232,188

230,210
NET ASSETS 1,663,366 1,310,829

CAPITAL AND RESERVES
Called up share capital 11 86,000 86,000
Retained earnings 12 1,577,366 1,224,829
SHAREHOLDERS' FUNDS 1,663,366 1,310,829

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 5 August 2024 and were signed by:





E M Buchan - Director


4 X 4 HIRE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC212506)

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

1. STATUTORY INFORMATION

4 x 4 Hire (Scotland) 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.

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


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 represents the value of goods and services supplied, excluding value added tax.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

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
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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid and receivable under operating leases are charged or credited to the profit and loss account 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 13 (2022 - 15 ) .

4 X 4 HIRE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC212506)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 12,390 18,293 2,762,108 25,436 2,818,227
Additions 37,500 - 583,222 - 620,722
Disposals - - (296,757 ) - (296,757 )
At 31 December 2023 49,890 18,293 3,048,573 25,436 3,142,192
DEPRECIATION
At 1 January 2023 11,503 12,959 1,349,214 19,670 1,393,346
Charge for year 5,469 1,342 249,077 3,490 259,378
Eliminated on disposal - - (216,267 ) - (216,267 )
At 31 December 2023 16,972 14,301 1,382,024 23,160 1,436,457
NET BOOK VALUE
At 31 December 2023 32,918 3,992 1,666,549 2,276 1,705,735
At 31 December 2022 887 5,334 1,412,894 5,766 1,424,881

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 408,350
Additions 320,484
At 31 December 2023 728,834
DEPRECIATION
At 1 January 2023 14,114
Charge for year 92,261
At 31 December 2023 106,375
NET BOOK VALUE
At 31 December 2023 622,459
At 31 December 2022 394,236

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 41,293 35,683
Other debtors 1,128,070 940,000
Directors' current accounts 24,000 -
Corporation tax 8,100 -
VAT - 13,111
Deferred tax asset 108,310 74,569
Prepayments 12,347 4,291
1,322,120 1,067,654

4 X 4 HIRE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC212506)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 25,161
Hire purchase contracts (see note 8) 241,359 127,296
Trade creditors 199,893 169,922
Corporation tax 150,560 93,399
Social security and other taxes 8,373 7,212
VAT 51,102 -
Other creditors 415,356 341,197
Accrued charges 192,342 187,350
1,258,985 951,537

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 232,188 230,210

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 241,359 127,296
Between one and five years 232,188 230,210
473,547 357,506

Non-cancellable operating leases
2023 2022
£    £   
Within one year 17,303 14,300

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 25,161
Hire purchase contracts 473,547 357,506
473,547 382,667

The hire purchase liabilities are secured over the assets to which the contracts relate.

10. DEFERRED TAX
£   
Balance at 1 January 2023 (74,569 )
Provided during year (33,741 )
Balance at 31 December 2023 (108,310 )

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

4 X 4 HIRE (SCOTLAND) LIMITED (REGISTERED NUMBER: SC212506)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
86,000 Ordinary £1 86,000 86,000

12. RESERVES
Retained
earnings
£   

At 1 January 2023 1,224,829
Profit for the year 428,537
Dividends (76,000 )
At 31 December 2023 1,577,366

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
E M Buchan
Balance outstanding at start of year - 26,500
Amounts advanced 24,000 -
Amounts repaid - (26,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,000 -

The loan is unsecured, interest free and has no fixed terms of repayment.

14. RELATED PARTY DISCLOSURES

During the year the company charged £39,289 (2022 - £37,375) to Buchans for Towbars Limited for staff costs, rent and other costs in connection with premises they share.

During the year under review the company received loans of £30,000 from Buchans for Towbars Limited. The company owed Buchans for Towbars Limited £96,289 (2022 - £66,289) at the balance sheet date. This amount is included within Other Creditors. Buchans for Towbars Limited is a company under the control of the director E M Buchan.

During the year under review the company received loans of £78,932 from Buchans for Towbars & Repairs Limited. The company owed Buchans for Towbars and Repairs Limited £143,860 (2022 - £64,928) at the balance sheet date. This amount is included within Other Creditors. The company owed Buchans for Towbars & Repairs Limited £180,157 (2022 - £144,457) for work invoiced at the balance sheet date and is included in trade creditors. Buchans for Towbars & Repairs Limited is a company under the control of the director E M Buchan.

Accident Solutions Scotland Limited charged the company a management charge of £36,400 (2022 - £35,707) for the use of staff. During the year the company received loans of £38,000 from Accident Solutions Scotland Limited. The company owed Accident Solutions Scotland Limited £62,000 (2022 - 24,000) at the balance sheet date. This amount is included in other creditors. Accident Solutions Scotland Limited is a company under the control of the director E M Buchan.

During the year the company advanced loans of £188,070 to JBR Estates (Scotland) Limited. At the balance sheet date the company was owed £1,128,070 (2022 - £940,000) from JBR Estates (Scotland) Limited. This amount is included within other debtors. JBR Estates (Scotland) Limited is a company under the control of the director E M Buchan.

All intercompany balances are unsecured interest free and have no fixed terms of repayment.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
4 X 4 HIRE (SCOTLAND) LIMITED

The following reproduces the text of the report prepared for the director 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 Director 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 4 x 4 Hire (Scotland) Limited for the year ended 31 December 2023 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of 4 x 4 Hire (Scotland) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 4 x 4 Hire (Scotland) Limited and state those matters that we have agreed to state to the director of 4 x 4 Hire (Scotland) Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that 4 x 4 Hire (Scotland) 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 4 x 4 Hire (Scotland) Limited. You consider that 4 x 4 Hire (Scotland) 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 4 x 4 Hire (Scotland) 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.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


5 August 2024