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REGISTERED NUMBER: SC158583 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LAS PLANT HIRE LTD

LAS PLANT HIRE LTD (REGISTERED NUMBER: SC158583)






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 HIRE LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: C M Murray
R C Murray
I M Bone



SECRETARY: Mrs J Murray



REGISTERED OFFICE: 9 Glasgow Road
Paisley
PA1 3QS



REGISTERED NUMBER: SC158583 (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 HIRE LTD (REGISTERED NUMBER: SC158583)

BALANCE SHEET
31 December 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
1,222,368 Tangible assets 5 802,175

CURRENT ASSETS
447,711 Debtors 6 620,882
243,870 Cash at bank 3,302
691,581 624,184
CREDITORS
439,967 Amounts falling due within one year 7 285,708
251,614 NET CURRENT ASSETS 338,476
1,473,982 TOTAL ASSETS LESS CURRENT
LIABILITIES

1,140,651

CREDITORS
(80,333 ) Amounts falling due after more than one
year

8

-

(357,184 ) PROVISIONS FOR LIABILITIES (314,710 )
1,036,465 NET ASSETS 825,941

CAPITAL AND RESERVES
5,555 Called up share capital 5,555
27,445 Share premium 27,445
1,003,465 Retained earnings 792,941
1,036,465 SHAREHOLDERS' FUNDS 825,941

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 HIRE LTD (REGISTERED NUMBER: SC158583)

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:




C M Murray - Director



R C Murray - Director


LAS PLANT HIRE LTD (REGISTERED NUMBER: SC158583)

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

1. STATUTORY INFORMATION

LAS Plant Hire 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.

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

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.
Short leasehold - 10% on cost
Improvements to property - 10% on cost
Plant & machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.


LAS PLANT HIRE LTD (REGISTERED NUMBER: SC158583)

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

Rentals paid under operating leases are charged to the profit and loss account over the period of the lease.

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 & 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
The company mainly enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties and loans to and from related parties.

Debt instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

LAS PLANT HIRE LTD (REGISTERED NUMBER: SC158583)

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

3. ACCOUNTING POLICIES - continued

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.

Dividends received are included in the company financial statements in the period in which the related dividends are actually paid, or in respect of the final dividend for the year, approved by shareholders.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant & Motor
Totals leasehold property machinery vehicles
£    £    £    £    £   
COST
At 1 January 2023 2,466,567 34,124 84,953 1,954,710 392,780
Disposals (536,542 ) - - (272,752 ) (263,790 )
At 31 December 2023 1,930,025 34,124 84,953 1,681,958 128,990
DEPRECIATION
At 1 January 2023 1,244,199 34,124 68,732 959,153 182,190
Charge for year 154,446 - 8,496 133,548 12,402
Eliminated on disposal (270,795 ) - - (167,985 ) (102,810 )
At 31 December 2023 1,127,850 34,124 77,228 924,716 91,782
NET BOOK VALUE
At 31 December 2023 802,175 - 7,725 757,242 37,208
At 31 December 2022 1,222,368 - 16,221 995,557 210,590

LAS PLANT HIRE LTD (REGISTERED NUMBER: SC158583)

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

5. TANGIBLE FIXED ASSETS - continued

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 988,000 943,500 44,500
Transfer to ownership (302,500 ) (258,000 ) (44,500 )
At 31 December 2023 685,500 685,500 -
DEPRECIATION
At 1 January 2023 314,752 288,634 26,118
Charge for year 79,753 79,753 -
Transfer to ownership (133,112 ) (106,994 ) (26,118 )
At 31 December 2023 261,393 261,393 -
NET BOOK VALUE
At 31 December 2023 424,107 424,107 -
At 31 December 2022 673,248 654,866 18,382

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 266,609 7,858
Amounts owed by group undertakings 354,273 439,273
Other debtors - 580
620,882 447,711

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 9) 85,982 208,211
Amounts owed to group undertakings - 83,205
Taxation and social security 90,781 73,894
Other creditors 108,945 74,657
285,708 439,967

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 9) - 80,333

LAS PLANT HIRE LTD (REGISTERED NUMBER: SC158583)

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

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 91,031 226,333
Between one and five years - 80,333
91,031 306,666

Finance charges repayable:
Within one year 5,049 18,122

Net obligations repayable:
Within one year 85,982 208,211
Between one and five years - 80,333
85,982 288,544

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 85,982 288,544

The company, together with Limehillock Quarries Ltd and Colin Murray Development Ltd, has entered into a group overdraft facility provided by Handelsbanken plc.

Each of the companies has granted a first and only Bond and Floating charge in favour of Svenska Handelsbanken AB (publ), the parent company of Handelsbanken plc, as security for those advances.

In addition:
- there is also an unlimited intercompany composite guarantee granted by this company, Colin Murray
Development Ltd and Limehillock Quarries Ltd in respect of each company's borrowing from the
Bank.

- the Bank holds first standard securities granted by Colin Murray Development Ltd over land that that
company owns.

Obligations under hire purchase contracts are secured over the assets to which they relate.

LAS PLANT HIRE LTD (REGISTERED NUMBER: SC158583)

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

11. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent of the company is Colin Murray Development Limited.

The ultimate parent and the largest and smallest group financial statements that consolidate this company is
Colin Murray Development Limited, a company registered in Scotland, and whose registered office is 9
Glasgow Road, Paisley, PA1 3QS.

C M Murray and Mrs J Murray indirectly control the company, as a result of holding the majority of the issued
share capital in the ultimate parent company between them.