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REGISTERED NUMBER: 05455329 (England and Wales)















Euroside Plant Hire Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






Euroside Plant Hire Limited (Registered number: 05455329)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Euroside Plant Hire Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: J Cheema





REGISTERED OFFICE: Unit 6
Neptune Close
Medway City Estate
Rochester
Kent
ME2 4LT





REGISTERED NUMBER: 05455329 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Euroside Plant Hire Limited (Registered number: 05455329)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,320,381 1,047,032

CURRENT ASSETS
Debtors 5 707,503 445,896
Cash at bank and in hand 7,850 1,864
715,353 447,760
CREDITORS
Amounts falling due within one year 6 759,410 537,637
NET CURRENT LIABILITIES (44,057 ) (89,877 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,276,324 957,155

CREDITORS
Amounts falling due after more than one
year

7

(134,449

)

(63,218

)

PROVISIONS FOR LIABILITIES (185,235 ) (185,235 )
NET ASSETS 956,640 708,702

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 322,781 322,781
Retained earnings 633,857 385,919
SHAREHOLDERS' FUNDS 956,640 708,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Euroside Plant Hire Limited (Registered number: 05455329)

Statement of Financial Position - continued
31 May 2024


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

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

The financial statements were approved by the director and authorised for issue on 6 February 2025 and were signed by:





J Cheema - Director


Euroside Plant Hire Limited (Registered number: 05455329)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Euroside Plant Hire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Where land and buildings are revalued, the revaluation gains are included in Other Comprehensive Income and recognised in the revaluation reserve. Depreciation is not provided where the residual value exceeds the carrying amount of the property. Deferred taxation is provided on the revaluation gains at the rate expected to apply when the property is sold.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Euroside Plant Hire Limited (Registered number: 05455329)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 480,000 1,302,108 1,782,108
Additions - 462,726 462,726
Disposals - (122,478 ) (122,478 )
At 31 May 2024 480,000 1,642,356 2,122,356
DEPRECIATION
At 1 June 2023 - 735,076 735,076
Charge for year - 98,218 98,218
Eliminated on disposal - (31,319 ) (31,319 )
At 31 May 2024 - 801,975 801,975
NET BOOK VALUE
At 31 May 2024 480,000 840,381 1,320,381
At 31 May 2023 480,000 567,032 1,047,032

Included in cost or valuation of land and buildings is freehold land of £ 40,000 (2023 - £ 40,000 ) which is not depreciated.

Cost or valuation at 31 May 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 480,000 1,642,356 2,122,356

Euroside Plant Hire Limited (Registered number: 05455329)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

If leasehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 129,289 129,289

Value of land in freehold land and buildings 40,000 40,000

Leasehold land and buildings were valued on an open market basis on 31 May 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 228,373 75,217
Other debtors 479,130 370,679
707,503 445,896

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,314 5,106
Hire purchase contracts (see note 8) 48,330 45,711
Trade creditors 161,511 50,098
Taxation and social security 1,043 4,009
Other creditors 543,212 432,713
759,410 537,637

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 7,012 11,848
Hire purchase contracts (see note 8) 127,437 51,370
134,449 63,218

8. LEASING AGREEMENTS

The company had total commitments under operating leases of £6,263.

Euroside Plant Hire Limited (Registered number: 05455329)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 12,326 16,954
Hire purchase contracts 175,767 97,081
188,093 114,035

The hire purchase and finance lease contracts are secured against the assets concerned.

Lloyds Bank PLC holds a fixed charge over the freehold property of the company, and a fixed and floating charge over all the assets of the company.