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REGISTERED NUMBER: SC371069 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Park Construction & Plant Hire Ltd

Park Construction & Plant Hire Ltd (Registered number: SC371069)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

Park Construction & Plant Hire Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: J Park
Mrs L Park





SECRETARY: J Park





REGISTERED OFFICE: 47 Suite 1/2
Park Lane House
47 Broad Street
Glasgow
G40 2QW





REGISTERED NUMBER: SC371069 (Scotland)





ACCOUNTANTS: Wallace White Accountants
2nd Floor
22-24 Blythswood Square
Glasgow
G2 4BG

Park Construction & Plant Hire Ltd (Registered number: SC371069)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 384,453 225,122

CURRENT ASSETS
Debtors 5 502,539 282,225
Cash at bank 234,681 44,114
737,220 326,339
CREDITORS
Amounts falling due within one year 6 801,136 542,634
NET CURRENT LIABILITIES (63,916 ) (216,295 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

320,537

8,827

CREDITORS
Amounts falling due after more than one year 7 (155,588 ) (63,900 )

PROVISIONS FOR LIABILITIES (85,525 ) (34,212 )
NET ASSETS/(LIABILITIES) 79,424 (89,285 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 79,423 (89,286 )
79,424 (89,285 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

Park Construction & Plant Hire Ltd (Registered number: SC371069)

Balance Sheet - continued
31 July 2024


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 12 November 2024 and were signed on its behalf by:





J Park - Director


Park Construction & Plant Hire Ltd (Registered number: SC371069)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Park Construction & 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.

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.

I confirm that in accordance with the Financial Reporting Council’s recommendations that I have carried out a rigorous assessment of the company and have reached a view after that assessment that the company is entitled to be considered a going concern and that these accounts properly reflect that status as a basis for preparation of the accounts.

In completing my assessment, I have considered a period of time which is greater than 1 year from today's date.

Based upon my assessment, I consider that the disclosure in the accounts is balanced, proportionate and clear and reflects the facts as established during my assessment of the next twelve months.

Turnover
Turnover is the amount derived from the ordinary activities of the company, after trade discounts and 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 etc - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance

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.

Park Construction & Plant Hire Ltd (Registered number: SC371069)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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 21 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 350,129
Additions 274,145
Disposals (16,300 )
At 31 July 2024 607,974
DEPRECIATION
At 1 August 2023 125,007
Charge for year 102,589
Eliminated on disposal (4,075 )
At 31 July 2024 223,521
NET BOOK VALUE
At 31 July 2024 384,453
At 31 July 2023 225,122

Park Construction & Plant Hire Ltd (Registered number: SC371069)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

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 August 2023 273,121
Additions 274,145
Disposals (16,300 )
At 31 July 2024 530,966
DEPRECIATION
At 1 August 2023 83,801
Charge for year 94,480
Eliminated on disposal (4,075 )
At 31 July 2024 174,206
NET BOOK VALUE
At 31 July 2024 356,760
At 31 July 2023 189,320

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 271,531 169,368
Other debtors 231,008 112,857
502,539 282,225

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 4,842 4,842
Hire purchase contracts 101,793 75,175
Trade creditors 60,041 80,611
Taxation and social security 151,618 365,237
Other creditors 482,842 16,769
801,136 542,634

Park Construction & Plant Hire Ltd (Registered number: SC371069)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 5,969 10,991
Hire purchase contracts 149,619 52,909
155,588 63,900

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 10,811 15,833
Hire purchase contracts 251,412 128,084
262,223 143,917

The bank loan is secured by a government backed guarantee.

Hire purchase creditors are secured against the assets to which they relate.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Park.

Park Construction & Plant Hire Ltd

Report of the Accountants to the Directors of
Park Construction & Plant Hire Ltd

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Wallace White Accountants
2nd Floor
22-24 Blythswood Square
Glasgow
G2 4BG


12 November 2024