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REGISTERED NUMBER: SC487691 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DUMFRIES PLANT RENTALS LTD

DUMFRIES PLANT RENTALS LTD (REGISTERED NUMBER: SC487691)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DUMFRIES PLANT RENTALS LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: F W Dykes
T G Keys





REGISTERED OFFICE: 1 Old Irongray Road
Newbridge
Dumfries
DG2 0BJ





REGISTERED NUMBER: SC487691 (Scotland)





ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY

DUMFRIES PLANT RENTALS LTD (REGISTERED NUMBER: SC487691)

STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,018,991 719,330

CURRENT ASSETS
Stocks 5 380,000 206,500
Debtors 6 424,576 207,123
Cash at bank 31,846 4,520
836,422 418,143
CREDITORS
Amounts falling due within one year 7 777,711 121,750
NET CURRENT ASSETS 58,711 296,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,077,702

1,015,723

CREDITORS
Amounts falling due after more than one
year

8

(15,751

)

(74,725

)

PROVISIONS FOR LIABILITIES (193,608 ) (136,673 )
NET ASSETS 868,343 804,325

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 10 858,343 794,325
SHAREHOLDERS' FUNDS 868,343 804,325

DUMFRIES PLANT RENTALS LTD (REGISTERED NUMBER: SC487691)

STATEMENT OF FINANCIAL POSITION - continued
31 December 2023


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 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.

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 10 September 2024 and were signed on its behalf by:





F W Dykes - Director


DUMFRIES PLANT RENTALS LTD (REGISTERED NUMBER: SC487691)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Dumfries Plant Rentals Ltd 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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates . It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Estimation Uncertainty

Useful life of properties, plant and equipment
The Company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this.

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

Stock Valuation
The Company assesses the carrying value of stock on at least an annual basis, taking into consideration when each item was purchased and the Company's ability to sell that particular item. Where it is considered the net realisable value of stock has fallen below its' original cost, a provision is made by Management against the stock value in the financial statements.

Key Judgements made in the application of Accounting Policies
a) Exemptions taken in the application of FRS 102
The Company has considered and taken advantage of the following exemptions in its application of FRS 102:
i) The Company has not revisited previous accounting estimates.

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

Plant hire turnover is recognised when a sales contract is signed by the customer and when the goods and services are delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 15% on straight line basis

DUMFRIES PLANT RENTALS LTD (REGISTERED NUMBER: SC487691)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortised cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Hire purchase payments are charged to balance sheet on a straight line basis over the period of the agreement with interest charged to the profit and loss account.

Debtors
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

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

DUMFRIES PLANT RENTALS LTD (REGISTERED NUMBER: SC487691)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023 2,557,802
Additions 637,020
Disposals (333,389 )
At 31 December 2023 2,861,433
DEPRECIATION
At 1 January 2023 1,838,472
Charge for year 299,758
Eliminated on disposal (295,788 )
At 31 December 2023 1,842,442
NET BOOK VALUE
At 31 December 2023 1,018,991
At 31 December 2022 719,330

5. STOCKS
2023 2022
£    £   
Stocks 380,000 206,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 346,422 181,449
Other debtors 78,154 25,674
424,576 207,123

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 14,875 51,867
Trade creditors 28 684
Taxation and social security - 31,799
Other creditors 752,808 27,400
777,711 121,750

DUMFRIES PLANT RENTALS LTD (REGISTERED NUMBER: SC487691)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,751 25,617
Hire purchase contracts - 49,108
15,751 74,725

The bank loan is repayable in installments over 6 years. The loan is guaranteed by government and carries an interest rate of 2.5% p.a.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000

10. RESERVES
Retained
earnings
£   

At 1 January 2023 794,324
Profit for the year 64,019
At 31 December 2023 858,343

11. RELATED PARTY DISCLOSURES

As at 31 December 2023 there was a balance due to Equipment & Plant Services Ltd of £750,000 (2022 - £25,000), a business in which T Keys is also a director.