Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Andrew Campbell 13/08/2021 Alan Campbell 24/08/2016 Mark Campbell 29/11/2017 Shona Campbell 24/08/2016 Alan Campbell 24/08/2016 Andrew Campbell 13/08/2021 Mark Campbell 29/11/2017 Shona Campbell 24/08/2016 Jill Sutherland Lloyd 01/10/2024 24/08/2016 Jill Sutherland Lloyd 01/10/2024 24/08/2016 17 February 2025 The principal activity of the Company during the financial year continued to be that of plant and machinery wholesalers. SC543630 2024-08-31 SC543630 bus:Director1 2024-08-31 SC543630 bus:Director2 2024-08-31 SC543630 bus:Director3 2024-08-31 SC543630 bus:Director4 2024-08-31 SC543630 bus:Director5 2024-08-31 SC543630 bus:Director6 2024-08-31 SC543630 bus:Director7 2024-08-31 SC543630 bus:Director8 2024-08-31 SC543630 bus:Director9 2024-08-31 SC543630 bus:Director10 2024-08-31 SC543630 2023-08-31 SC543630 core:CurrentFinancialInstruments 2024-08-31 SC543630 core:CurrentFinancialInstruments 2023-08-31 SC543630 core:ShareCapital 2024-08-31 SC543630 core:ShareCapital 2023-08-31 SC543630 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC543630 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC543630 core:LandBuildings 2023-08-31 SC543630 core:OtherPropertyPlantEquipment 2023-08-31 SC543630 core:LandBuildings 2024-08-31 SC543630 core:OtherPropertyPlantEquipment 2024-08-31 SC543630 bus:OrdinaryShareClass1 2024-08-31 SC543630 core:WithinOneYear 2024-08-31 SC543630 core:WithinOneYear 2023-08-31 SC543630 core:BetweenOneFiveYears 2024-08-31 SC543630 core:BetweenOneFiveYears 2023-08-31 SC543630 core:MoreThanFiveYears 2024-08-31 SC543630 core:MoreThanFiveYears 2023-08-31 SC543630 2023-09-01 2024-08-31 SC543630 bus:FilletedAccounts 2023-09-01 2024-08-31 SC543630 bus:SmallEntities 2023-09-01 2024-08-31 SC543630 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC543630 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC543630 bus:Director1 2023-09-01 2024-08-31 SC543630 bus:Director2 2023-09-01 2024-08-31 SC543630 bus:Director3 2023-09-01 2024-08-31 SC543630 bus:Director4 2023-09-01 2024-08-31 SC543630 bus:Director5 2023-09-01 2024-08-31 SC543630 bus:Director6 2023-09-01 2024-08-31 SC543630 bus:Director7 2023-09-01 2024-08-31 SC543630 bus:Director8 2023-09-01 2024-08-31 SC543630 bus:Director9 2023-09-01 2024-08-31 SC543630 bus:Director10 2023-09-01 2024-08-31 SC543630 core:LandBuildings core:TopRangeValue 2023-09-01 2024-08-31 SC543630 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-09-01 2024-08-31 SC543630 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-09-01 2024-08-31 SC543630 2022-09-01 2023-08-31 SC543630 core:LandBuildings 2023-09-01 2024-08-31 SC543630 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 SC543630 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 SC543630 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC543630 (Scotland)

A.C PLANT SALES LIMITED

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

A.C PLANT SALES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

A.C PLANT SALES LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
A.C PLANT SALES LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 288,701 218,546
288,701 218,546
Current assets
Stocks 826,446 744,731
Debtors 4 712,714 774,096
Cash at bank and in hand 549,543 815,547
2,088,703 2,334,374
Creditors: amounts falling due within one year 5 ( 1,113,748) ( 1,272,373)
Net current assets 974,955 1,062,001
Total assets less current liabilities 1,263,656 1,280,547
Provision for liabilities 6 ( 62,050) ( 54,637)
Net assets 1,201,606 1,225,910
Capital and reserves
Called-up share capital 7 500 500
Profit and loss account 1,201,106 1,225,410
Total shareholders' funds 1,201,606 1,225,910

For the financial year ending 31 August 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 A.C Plant Sales Limited (registered number: SC543630) were approved and authorised for issue by the Board of Directors on 17 February 2025. They were signed on its behalf by:

Alan Campbell
Director
A.C PLANT SALES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
A.C PLANT SALES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 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

A.C Plant Sales Limited (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 17b Henderson Drive, Inverness, IV1 1TR, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable from the sale and hire of plant and machinery, and is shown net of VAT and other trade discounts. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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. 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.

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, other than investment property and freehold land, 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:

Land and buildings 50 years straight line
Plant and machinery etc. 4 - 20 years straight line

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
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 Profit and Loss Account as described below.

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, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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.

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 measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price. 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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 6

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 September 2023 0 251,247 251,247
Additions 39,788 100,046 139,834
Disposals 0 ( 61,775) ( 61,775)
At 31 August 2024 39,788 289,518 329,306
Accumulated depreciation
At 01 September 2023 0 32,701 32,701
Charge for the financial year 423 15,628 16,051
Disposals 0 ( 8,147) ( 8,147)
At 31 August 2024 423 40,182 40,605
Net book value
At 31 August 2024 39,365 249,336 288,701
At 31 August 2023 0 218,546 218,546

4. Debtors

2024 2023
£ £
Trade debtors 489,040 321,886
Corporation tax 16 0
Other debtors 223,658 452,210
712,714 774,096

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 386,271 227,340
Taxation and social security 21,897 115,974
Obligations under finance leases and hire purchase contracts 70,560 0
Other creditors 635,020 929,059
1,113,748 1,272,373

6. Provision for liabilities

2024 2023
£ £
Deferred tax 62,050 54,637

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
500 Ordinary shares of £ 1.00 each 500 500

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 4,900 4,900
between one and five years 19,600 19,600
after five years 338,100 343,000
362,600 367,500

9. Related party transactions

Other related party transactions

2024 2023
£ £
Sales 548,835 546,106
Purchases 6,408,523 4,889,257
Amounts due to related parties 0 21,194
Amounts due from related parties 475,306 179,829