Acorah Software Products - Accounts Production 16.0.110 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 SC089599 Mr Patrick Sweeney Mr Ryan Sweeney Mr Patrick Sweeney iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC089599 2023-04-30 SC089599 2024-04-30 SC089599 2023-05-01 2024-04-30 SC089599 frs-core:CurrentFinancialInstruments 2024-04-30 SC089599 frs-core:Non-currentFinancialInstruments 2024-04-30 SC089599 frs-core:BetweenOneFiveYears 2024-04-30 SC089599 frs-core:ComputerEquipment 2024-04-30 SC089599 frs-core:ComputerEquipment 2023-05-01 2024-04-30 SC089599 frs-core:ComputerEquipment 2023-04-30 SC089599 frs-core:FurnitureFittings 2024-04-30 SC089599 frs-core:FurnitureFittings 2023-05-01 2024-04-30 SC089599 frs-core:FurnitureFittings 2023-04-30 SC089599 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 SC089599 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC089599 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 SC089599 frs-core:MotorVehicles 2024-04-30 SC089599 frs-core:MotorVehicles 2023-05-01 2024-04-30 SC089599 frs-core:MotorVehicles 2023-04-30 SC089599 frs-core:PlantMachinery 2024-04-30 SC089599 frs-core:PlantMachinery 2023-05-01 2024-04-30 SC089599 frs-core:PlantMachinery 2023-04-30 SC089599 frs-core:WithinOneYear 2024-04-30 SC089599 frs-core:ShareCapital 2024-04-30 SC089599 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 SC089599 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC089599 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 SC089599 frs-bus:SmallEntities 2023-05-01 2024-04-30 SC089599 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 SC089599 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC089599 frs-core:CostValuation 2023-04-30 SC089599 frs-core:CostValuation 2024-04-30 SC089599 frs-core:ProvisionsForImpairmentInvestments 2023-04-30 SC089599 frs-core:ProvisionsForImpairmentInvestments 2024-04-30 SC089599 frs-bus:Director1 2023-05-01 2024-04-30 SC089599 frs-bus:Director1 2023-04-30 SC089599 frs-bus:Director1 2024-04-30 SC089599 frs-bus:Director2 2023-05-01 2024-04-30 SC089599 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 SC089599 frs-core:Non-currentFinancialInstruments 1 2024-04-30 SC089599 frs-core:Non-currentFinancialInstruments 2 2024-04-30 SC089599 frs-countries:Scotland 2023-05-01 2024-04-30 SC089599 2022-04-30 SC089599 2023-04-30 SC089599 2022-05-01 2023-04-30 SC089599 frs-core:CurrentFinancialInstruments 2023-04-30 SC089599 frs-core:Non-currentFinancialInstruments 2023-04-30 SC089599 frs-core:BetweenOneFiveYears 2023-04-30 SC089599 frs-core:MotorVehicles 2022-05-01 2023-04-30 SC089599 frs-core:WithinOneYear 2023-04-30 SC089599 frs-core:ShareCapital 2023-04-30 SC089599 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 SC089599 frs-core:Non-currentFinancialInstruments 1 2023-04-30 SC089599 frs-core:Non-currentFinancialInstruments 2 2023-04-30
Registered number: SC089599
Sweeney Plant & Vehicle Hire Ltd.
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: SC089599
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 766,379 865,184
Investments 5 5,000 5,000
771,379 870,184
CURRENT ASSETS
Stocks 6 25,484 26,500
Debtors 7 1,377,483 1,376,327
Cash at bank and in hand 111,383 203,926
1,514,350 1,606,753
Creditors: Amounts Falling Due Within One Year 8 (403,041 ) (334,402 )
NET CURRENT ASSETS (LIABILITIES) 1,111,309 1,272,351
TOTAL ASSETS LESS CURRENT LIABILITIES 1,882,688 2,142,535
Creditors: Amounts Falling Due After More Than One Year 9 (75,656 ) (141,530 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (37,096 ) (73,517 )
NET ASSETS 1,769,936 1,927,488
CAPITAL AND RESERVES
Called up share capital 12 100,000 100,000
Profit and Loss Account 1,669,936 1,827,488
SHAREHOLDERS' FUNDS 1,769,936 1,927,488
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Patrick Sweeney
Director
19/11/2024
The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sweeney Plant & Vehicle Hire Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC089599 . The registered office is 1A Petersburn Road, Airdrie, Lanarkshire, ML6 8RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not provided
Plant & Machinery 25% and 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
The company only has basic financial instruments.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Otherfinancial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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 in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 May 2023 250,000 615,310 2,359,011 48,930
Additions - - 68,000 2,670
Disposals - - (139,500 ) -
As at 30 April 2024 250,000 615,310 2,287,511 51,600
...CONTINUED
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Depreciation
As at 1 May 2023 - 545,511 1,825,712 37,827
Provided during the period - 10,469 99,818 2,069
Disposals - - (82,627 ) -
As at 30 April 2024 - 555,980 1,842,903 39,896
Net Book Value
As at 30 April 2024 250,000 59,330 444,608 11,704
As at 1 May 2023 250,000 69,799 533,299 11,103
Computer Equipment Total
£ £
Cost
As at 1 May 2023 30,440 3,303,691
Additions - 70,670
Disposals - (139,500 )
As at 30 April 2024 30,440 3,234,861
Depreciation
As at 1 May 2023 29,457 2,438,507
Provided during the period 246 112,602
Disposals - (82,627 )
As at 30 April 2024 29,703 2,468,482
Net Book Value
As at 30 April 2024 737 766,379
As at 1 May 2023 983 865,184
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 212,390 326,904
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Cost or valuation as at 30 April 2024 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
At cost - 615,310 2,287,511 51,600
At valuation 250,000 - - -
250,000 615,310 2,287,511 51,600
Computer Equipment Total
£ £
At cost 30,440 2,984,861
At valuation - 250,000
30,440 3,234,861
If freehold property had not been revalued it would have been included at the following historical cost: 
Cost £89,373 (2023: £89,373)
Value of land in freehold land and buildings £250,000 (2023: £250,000)
Freehold property was valued on an open market basis on 30 April 2024 by Patrick Sweeney.
5. Investments
Other
£
Cost
As at 1 May 2023 5,000
As at 30 April 2024 5,000
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 5,000
As at 1 May 2023 5,000
The above investment represents a 100% interest in the ordinary shares of Eftee Ltd, a subsidiary undertaking held by the company.
6. Stocks
2024 2023
£ £
Materials 25,484 26,500
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 94,039 92,883
Prepayments and accrued income 55,536 55,536
Corporation tax recoverable assets 249,566 249,566
Directors' loan accounts 978,342 978,342
1,377,483 1,376,327
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 86,553 106,558
Trade creditors 77,625 19,705
Bank loans and overdrafts 55,833 60,000
Other loans 11,700 -
Other taxes and social security 1,911 1,958
VAT 11,137 13,780
Other creditors 644 600
Accruals and deferred income 11,379 10,015
Amounts owed to subsidiaries 146,259 121,786
403,041 334,402
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 64,823 74,864
Bank Loan - (1 - 2 Years) 10,000 55,833
Bank Loan (2-5 Years) 833 10,833
75,656 141,530
10. Secured Creditors
The Clydesdale Bank plc holds a standard security over all sums due or to become due.
Hire purchase creditors are secured over the corresponding assets held on hire purchase contracts.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 151,376 181,415
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11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 86,553 106,558
Later than one year and not later than five years 64,823 74,864
151,376 181,422
151,376 181,422
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100,000 100,000
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Patrick Sweeney 978,342 - - - 978,342
The above loan is unsecured, interest free and repayable on demand.
14. Related Party Transactions
Eftee Metal Bodies Limited was a related party during the year by virtue of being a subsidiary.
Sweeney Plant & Vehicle Hire Ltd. owes £146,259 (2023: £121,786) to Eftee Metal Bodies Limited in respect of an inter-company loan.
This loan is interest free and repayable on demand.
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