Silverfin false false 28/12/2023 29/12/2022 28/12/2023 Mr R A Paisley 14/07/2005 03 January 2025 The principal activity of the Company during the financial year was that of haulage and plant hire. 05508885 2023-12-28 05508885 bus:Director1 2023-12-28 05508885 2022-12-28 05508885 core:CurrentFinancialInstruments 2023-12-28 05508885 core:CurrentFinancialInstruments 2022-12-28 05508885 core:Non-currentFinancialInstruments 2023-12-28 05508885 core:Non-currentFinancialInstruments 2022-12-28 05508885 core:ShareCapital 2023-12-28 05508885 core:ShareCapital 2022-12-28 05508885 core:RetainedEarningsAccumulatedLosses 2023-12-28 05508885 core:RetainedEarningsAccumulatedLosses 2022-12-28 05508885 2022-12-29 2023-12-28 05508885 bus:FilletedAccounts 2022-12-29 2023-12-28 05508885 bus:SmallEntities 2022-12-29 2023-12-28 05508885 bus:AuditExemptWithAccountantsReport 2022-12-29 2023-12-28 05508885 bus:PrivateLimitedCompanyLtd 2022-12-29 2023-12-28 05508885 bus:Director1 2022-12-29 2023-12-28 05508885 2021-12-29 2022-12-28 05508885 core:Non-currentFinancialInstruments 2022-12-29 2023-12-28 iso4217:GBP xbrli:pure

Company No: 05508885 (England and Wales)

PAISLEY PLANT HIRE LTD

Unaudited Financial Statements
For the financial year ended 28 December 2023
Pages for filing with the registrar

PAISLEY PLANT HIRE LTD

Unaudited Financial Statements

For the financial year ended 28 December 2023

Contents

PAISLEY PLANT HIRE LTD

BALANCE SHEET

As at 28 December 2023
PAISLEY PLANT HIRE LTD

BALANCE SHEET (continued)

As at 28 December 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 64,273 64,273
64,273 64,273
Current assets
Debtors 4 197,911 236,121
197,911 236,121
Creditors: amounts falling due within one year 5 ( 181,346) ( 179,406)
Net current assets 16,565 56,715
Total assets less current liabilities 80,838 120,988
Creditors: amounts falling due after more than one year 6 ( 35,000) ( 35,000)
Net assets 45,838 85,988
Capital and reserves
Called-up share capital 3,500 3,500
Profit and loss account 42,338 82,488
Total shareholders' funds 45,838 85,988

For the financial year ending 28 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Paisley Plant Hire Ltd (registered number: 05508885) were approved and authorised for issue by the Director on 03 January 2025. They were signed on its behalf by:

Mr R A Paisley
Director
PAISLEY PLANT HIRE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 December 2023
PAISLEY PLANT HIRE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Paisley Plant Hire Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Due to the winding down of operations there is no turnover.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

The company is run and administered by the director of the company for whom no formal contracts of service is in place

3. Investment property

Investment property
£
Valuation
As at 29 December 2022 64,273
As at 28 December 2023 64,273

The investment properties class of fixed assets were adjusted on 28 December 2023 to fair value by the director who is internal to the company. The basis of this valuation was open market value. The class of asset has a current value of £64,273 (2022 - £184,273) and a carrying amount at historical cost of £64,273 (2022 - £165,521). The depreciation on this historical cost is nil (2022 - £nil).
There has been no valuation of investment property by an independent valuer.

4. Debtors

2023 2022
£ £
Other debtors 197,911 236,121

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 12,000 12,000
Trade creditors 6,802 4,219
Taxation and social security 95,954 96,455
Other creditors 66,590 66,732
181,346 179,406

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 35,000 35,000

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

Transactions with the entity's director

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 29 December 2022, the balance owed by the director was £158,312. During the year, £nil was advanced to the director, and £41,000 was repaid by the director. At 28 December 2023, the balance owed by the director was £117,312.

At 29 December 2021, the balance owed by the director was £188,179. During the year, £57,331 was advanced to the director, and £87,198 was repaid by the director. At 28 December 2022, the balance owed by the director was £158,312.