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REGISTERED NUMBER: SC243526 (Scotland)










Unaudited Financial Statements

for the Year Ended 30 April 2024

for

BDS Plant Hire (Orkney) Ltd

BDS Plant Hire (Orkney) Ltd (Registered number: SC243526)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


BDS Plant Hire (Orkney) Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: B D Sinclair
Mrs I U Sinclair
A A Sinclair
Mrs T Sinclair
Miss N E Sinclair



SECRETARY: Mrs I U Sinclair



REGISTERED OFFICE: Newhouse
Stromness
Orkney
KW16 3HU



REGISTERED NUMBER: SC243526 (Scotland)



ACCOUNTANTS: Orcadia
Chartered Accountants
1 - 3 East Road
Kirkwall
Orkney
KW15 1HZ



BANKERS: The Royal Bank of Scotland
1 Victoria Street
Kirkwall
Orkney
KW15 1DP

BDS Plant Hire (Orkney) Ltd (Registered number: SC243526)

Abridged Statement of Financial Position
30 April 2024

2023 2024
£    £    Notes £    £   
FIXED ASSETS
305,800 Intangible assets 4 278,000
907,427 Tangible assets 5 1,596,247
1,272,342 Investment property 6 1,553,487
2,485,569 3,427,734

CURRENT ASSETS
13,941 Stocks 108,671
385,706 Debtors 245,261
1,304,953 Cash at bank 163,173
1,704,600 517,105
CREDITORS
287,628 Amounts falling due within one year 109,644
1,416,972 NET CURRENT ASSETS 407,461
3,902,541 TOTAL ASSETS LESS CURRENT
LIABILITIES

3,835,195

CREDITORS
(12,000 ) Amounts falling due after more than one
year

-

(199,300 ) PROVISIONS FOR LIABILITIES (198,165 )
3,691,241 NET ASSETS 3,637,030

BDS Plant Hire (Orkney) Ltd (Registered number: SC243526)

Abridged Statement of Financial Position - continued
30 April 2024

2023 2024
£    £    Notes £    £   
CAPITAL AND RESERVES
4 Called up share capital 4
344,022 Fair value reserve 7 344,022
3,347,215 Retained earnings 3,293,004
3,691,241 SHAREHOLDERS' FUNDS 3,637,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Mrs T Sinclair - Director


BDS Plant Hire (Orkney) Ltd (Registered number: SC243526)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

BDS Plant Hire (Orkney) 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 as modified by the revaluation of certain assets.

Turnover
Turnover is recognised at fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes.

Revenue from contracts is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to the contractual hourly staff rates and materials, as a proportion or total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

BDS Plant Hire (Orkney) Ltd (Registered number: SC243526)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Construction Contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent oof contract costs incurred where it is probable that they will be recoverable.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

BDS Plant Hire (Orkney) Ltd (Registered number: SC243526)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors re initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


BDS Plant Hire (Orkney) Ltd (Registered number: SC243526)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
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 14 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 556,000
AMORTISATION
At 1 May 2023 250,200
Amortisation for year 27,800
At 30 April 2024 278,000
NET BOOK VALUE

At 30 April 2024 278,000
At 30 April 2023 305,800

BDS Plant Hire (Orkney) Ltd (Registered number: SC243526)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 1,908,590
Additions 989,957
Disposals (235,357 )
At 30 April 2024 2,663,190
DEPRECIATION
At 1 May 2023 1,001,163
Charge for year 213,607
Eliminated on disposal (147,827 )
At 30 April 2024 1,066,943
NET BOOK VALUE
At 30 April 2024 1,596,247
At 30 April 2023 907,427

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,272,342
Additions 281,145
At 30 April 2024 1,553,487
NET BOOK VALUE
At 30 April 2024 1,553,487
At 30 April 2023 1,272,342

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2022 344,022
Cost 1,209,465
1,553,487

BDS Plant Hire (Orkney) Ltd (Registered number: SC243526)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 344,022

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £42,540 (2023 - £64,810) were paid to the directors .

Included within Creditors is an amount of £9,707 (2023: £9,961) due to the directors.