Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Alan Campbell 19/05/2009 Iain Maciver 19/05/2009 05 February 2025 The principal activity of the Company during the financial year was operating a plant hire business. SC359758 2024-05-31 SC359758 bus:Director1 2024-05-31 SC359758 bus:Director2 2024-05-31 SC359758 2023-05-31 SC359758 core:CurrentFinancialInstruments 2024-05-31 SC359758 core:CurrentFinancialInstruments 2023-05-31 SC359758 core:Non-currentFinancialInstruments 2024-05-31 SC359758 core:Non-currentFinancialInstruments 2023-05-31 SC359758 core:ShareCapital 2024-05-31 SC359758 core:ShareCapital 2023-05-31 SC359758 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC359758 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC359758 core:OtherPropertyPlantEquipment 2023-05-31 SC359758 core:OtherPropertyPlantEquipment 2024-05-31 SC359758 bus:OrdinaryShareClass1 2024-05-31 SC359758 2023-06-01 2024-05-31 SC359758 bus:FilletedAccounts 2023-06-01 2024-05-31 SC359758 bus:SmallEntities 2023-06-01 2024-05-31 SC359758 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC359758 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC359758 bus:Director1 2023-06-01 2024-05-31 SC359758 bus:Director2 2023-06-01 2024-05-31 SC359758 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 SC359758 2022-06-01 2023-05-31 SC359758 core:CurrentFinancialInstruments 2023-06-01 2024-05-31 SC359758 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 SC359758 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 SC359758 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC359758 (Scotland)

HEBRIDEAN PLANT LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

HEBRIDEAN PLANT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024

Contents

HEBRIDEAN PLANT LTD

BALANCE SHEET

AS AT 31 MAY 2024
HEBRIDEAN PLANT LTD

BALANCE SHEET (continued)

AS AT 31 MAY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,889,145 1,973,544
1,889,145 1,973,544
Current assets
Stocks 2,500 2,500
Debtors 4 259,240 263,288
Cash at bank and in hand 479,181 98,697
740,921 364,485
Creditors: amounts falling due within one year 5 ( 422,422) ( 215,556)
Net current assets 318,499 148,929
Total assets less current liabilities 2,207,644 2,122,473
Creditors: amounts falling due after more than one year 6 ( 82,016) ( 117,866)
Provision for liabilities 7 ( 472,287) ( 493,386)
Net assets 1,653,341 1,511,221
Capital and reserves
Called-up share capital 8 50,000 50,000
Profit and loss account 1,603,341 1,461,221
Total shareholders' funds 1,653,341 1,511,221

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Hebridean Plant Ltd (registered number: SC359758) were approved and authorised for issue by the Board of Directors on 05 February 2025. They were signed on its behalf by:

Alan Campbell
Director
HEBRIDEAN PLANT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
HEBRIDEAN PLANT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
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

Hebridean Plant Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Yard 4 Moorpark, Marybank, Isle Of Lewis, HS2 0EL, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the total amounts receivable from the hire of plant and machinery, net of VAT.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 7

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 June 2023 3,256,009 3,256,009
Additions 416,336 416,336
Disposals ( 213,860) ( 213,860)
At 31 May 2024 3,458,485 3,458,485
Accumulated depreciation
At 01 June 2023 1,282,465 1,282,465
Charge for the financial year 400,545 400,545
Disposals ( 113,670) ( 113,670)
At 31 May 2024 1,569,340 1,569,340
Net book value
At 31 May 2024 1,889,145 1,889,145
At 31 May 2023 1,973,544 1,973,544

4. Debtors

2024 2023
£ £
Trade debtors 252,631 252,739
Other debtors 6,609 10,549
259,240 263,288

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 322,353 103,701
Corporation tax 46 46
Other taxation and social security 2,129 2,189
Obligations under finance leases and hire purchase contracts 74,600 85,806
Other creditors 13,294 13,814
422,422 215,556

The hire purchase obligations are secured over the assets to which they relate. The bank loan is guaranteed by the UK Government under the Bounce Back Loan Scheme.

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

2024 2023
£ £
Bank loans 10,833 20,833
Obligations under finance leases and hire purchase contracts 71,183 97,033
82,016 117,866

The hire purchase obligations are secured over the assets to which they relate. The bank loan is guaranteed by the UK Government under the Bounce Back Loan Scheme.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 472,287 493,386

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50,000 Ordinary shares of £ 1.00 each 50,000 50,000

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Amounts due to other related parties 5,000 5,000

Transactions with the entity's directors

2024 2023
£ £
Amounts due to key management personnel 4,581 4,581