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REGISTERED NUMBER: SC429595 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LAS PLANT LIMITED

LAS PLANT LIMITED (REGISTERED NUMBER: SC429595)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAS PLANT LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: R C Murray
I M Bone



REGISTERED OFFICE: 9 Glasgow Road
Paisley
PA1 3QS



REGISTERED NUMBER: SC429595 (Scotland)



ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS



BANKERS: Handelsbanken plc
First Floor
Camas House
Fairways Business Park
Inverness
IV2 6AA

LAS PLANT LIMITED (REGISTERED NUMBER: SC429595)

BALANCE SHEET
31 December 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
721,879 Tangible assets 5 940,058

CURRENT ASSETS
8,000 Stocks 8,000
242,084 Debtors 6 254,950
144,266 Cash at bank and in hand 121,206
394,350 384,156
CREDITORS
405,356 Amounts falling due within one year 7 482,562
(11,006 ) NET CURRENT LIABILITIES (98,406 )
710,873 TOTAL ASSETS LESS CURRENT
LIABILITIES

841,652

CREDITORS
(180,037 ) Amounts falling due after more than one
year

8

(211,267

)

(66,883 ) PROVISIONS FOR LIABILITIES (112,500 )
463,953 NET ASSETS 517,885

CAPITAL AND RESERVES
10,000 Called up share capital 10,000
453,953 Retained earnings 507,885
463,953 SHAREHOLDERS' FUNDS 517,885

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.

LAS PLANT LIMITED (REGISTERED NUMBER: SC429595)

BALANCE SHEET - continued
31 December 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 10 September 2024 and were signed on its behalf by:





I M Bone - Director


LAS PLANT LIMITED (REGISTERED NUMBER: SC429595)

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

1. STATUTORY INFORMATION

LAS Plant 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents the total invoice value, less credit notes, excluding value added tax, of sales made in the period.

Revenue is recognised when goods or services are received by the customer and the risks and rewards of ownership have been passed to them. Revenue from the hire of equipment and services is recognised at the time the equipment is supplied or services have been rendered and accepted. Revenue is measured at the fair value of consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and value added tax.

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

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Assets held under finance leases are depreciated in the same way as owned assets.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

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


LAS PLANT LIMITED (REGISTERED NUMBER: SC429595)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

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.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4. EMPLOYEES AND DIRECTORS

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

LAS PLANT LIMITED (REGISTERED NUMBER: SC429595)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Motor Computer
Totals machinery fittings vehicles equipment
£    £    £    £    £   
COST
At 1 January 2023 833,358 826,055 851 3,700 2,752
Additions 430,118 342,599 679 86,840 -
Disposals (43,376 ) (39,676 ) - (3,700 ) -
At 31 December 2023 1,220,100 1,128,978 1,530 86,840 2,752
DEPRECIATION
At 1 January 2023 111,479 108,960 191 1,140 1,188
Charge for year 176,899 154,073 201 21,710 915
Eliminated on disposal (8,336 ) (7,196 ) - (1,140 ) -
At 31 December 2023 280,042 255,837 392 21,710 2,103
NET BOOK VALUE
At 31 December 2023 940,058 873,141 1,138 65,130 649
At 31 December 2022 721,879 717,095 660 2,560 1,564

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant & Motor
Totals machinery vehicles
£    £    £   
COST
At 1 January 2023 379,907 379,907 -
Additions 303,292 216,452 86,840
Transfer to ownership 25,700 25,700 -
At 31 December 2023 708,899 622,059 86,840
DEPRECIATION
At 1 January 2023 39,108 39,108 -
Charge for year 111,143 89,433 21,710
Transfer to ownership 3,855 3,855 -
At 31 December 2023 154,106 132,396 21,710
NET BOOK VALUE
At 31 December 2023 554,793 489,663 65,130
At 31 December 2022 340,799 340,799 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 115,527 143,249
Other debtors 139,423 98,835
254,950 242,084

LAS PLANT LIMITED (REGISTERED NUMBER: SC429595)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 9) 210,374 113,437
Trade creditors 117,239 158,534
Taxation and social security 21,441 4,224
Other creditors 133,508 129,161
482,562 405,356

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 9) 211,267 180,037

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.23 31.12.22
£    £   
Gross obligations repayable:
Within one year 234,338 125,596
Between one and five years 238,165 200,358
472,503 325,954

Finance charges repayable:
Within one year 23,964 12,159
Between one and five years 26,898 20,321
50,862 32,480

Net obligations repayable:
Within one year 210,374 113,437
Between one and five years 211,267 180,037
421,641 293,474

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.