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Registration number: 00769420

Scanlans (Plant Hire) Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Scanlans (Plant Hire) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Scanlans (Plant Hire) Limited

(Registration number: 00769420)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

517,832

401,091

Current assets

 

Stocks

5

29,800

33,000

Debtors

6

531,333

450,974

Cash at bank and in hand

 

148,907

258,372

 

710,040

742,346

Creditors: Amounts falling due within one year

7

(374,681)

(415,450)

Net current assets

 

335,359

326,896

Total assets less current liabilities

 

853,191

727,987

Creditors: Amounts falling due after more than one year

7

(220,777)

(111,496)

Provisions for liabilities

(129,458)

(72,840)

Net assets

 

502,956

543,651

Capital and reserves

 

Called up share capital

4,034

4,034

Share premium reserve

15,705

15,705

Capital redemption reserve

250

250

Retained earnings

482,967

523,662

Shareholders' funds

 

502,956

543,651

 

Scanlans (Plant Hire) Limited

(Registration number: 00769420)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors Report has been taken.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

.........................................
Miss K Scanlan
Director

 

Scanlans (Plant Hire) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Mill, Tricketts Lane
Willaston
Nantwich
Cheshire
CW5 6PZ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Scanlans (Plant Hire) Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% on cost

Plant and machinery

at variable rates on reducing balance

Fixtures and fittings

20% on cost and 15% on reducing balance

Motor vehicles

20% on cost

Computer equipment

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 14).

 

Scanlans (Plant Hire) Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 August 2023

133,238

66,499

174,428

2,365,557

Additions

-

291

10,000

241,500

Disposals

-

-

-

(197,524)

At 31 July 2024

133,238

66,790

184,428

2,409,533

Depreciation

At 1 August 2023

133,238

65,868

78,157

2,061,368

Charge for the year

-

494

28,635

105,921

Eliminated on disposal

-

-

-

(197,524)

At 31 July 2024

133,238

66,362

106,792

1,969,765

Carrying amount

At 31 July 2024

-

428

77,636

439,768

At 31 July 2023

-

631

96,271

304,189

Total
£

Cost or valuation

At 1 August 2023

2,739,722

Additions

251,791

Disposals

(197,524)

At 31 July 2024

2,793,989

Depreciation

At 1 August 2023

2,338,631

Charge for the year

135,050

Eliminated on disposal

(197,524)

At 31 July 2024

2,276,157

Carrying amount

At 31 July 2024

517,832

At 31 July 2023

401,091

 

Scanlans (Plant Hire) Limited

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

5

Stocks

2024
£

2023
£

Other inventories

29,800

33,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

116,077

131,740

Prepayments

123,210

75,085

Other debtors

292,046

244,149

 

531,333

450,974

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

81,926

60,982

Trade creditors

170,193

167,753

Taxation and social security

6,424

30,582

Other creditors

116,138

156,133

374,681

415,450

Due after one year

Loans and borrowings

220,777

111,496

2024
£

2023
£

Current loans and borrowings

HP and finance lease liabilities

81,926

60,982