9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 40,000 40,000 xbrli:pure xbrli:shares iso4217:GBP SC480021 2023-07-01 2024-06-30 SC480021 2024-06-30 SC480021 2023-06-30 SC480021 2022-07-01 2023-06-30 SC480021 2023-06-30 SC480021 2022-06-30 SC480021 core:NetGoodwill 2023-07-01 2024-06-30 SC480021 core:PlantMachinery 2023-07-01 2024-06-30 SC480021 core:MotorVehicles 2023-07-01 2024-06-30 SC480021 bus:Director3 2023-07-01 2024-06-30 SC480021 bus:Director4 2023-07-01 2024-06-30 SC480021 core:WithinOneYear 2024-06-30 SC480021 core:WithinOneYear 2023-06-30 SC480021 core:NetGoodwill 2024-06-30 SC480021 core:PlantMachinery 2023-06-30 SC480021 core:MotorVehicles 2023-06-30 SC480021 core:PlantMachinery 2024-06-30 SC480021 core:MotorVehicles 2024-06-30 SC480021 core:AfterOneYear 2024-06-30 SC480021 core:AfterOneYear 2023-06-30 SC480021 core:ShareCapital 2024-06-30 SC480021 core:ShareCapital 2023-06-30 SC480021 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC480021 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC480021 core:PlantMachinery 2023-06-30 SC480021 core:MotorVehicles 2023-06-30 SC480021 bus:Director1 2023-07-01 2024-06-30 SC480021 bus:Director2 2023-07-01 2024-06-30 SC480021 bus:SmallEntities 2023-07-01 2024-06-30 SC480021 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC480021 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC480021 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC480021 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: SC480021
Inverurie Skip Hire Limited
Filleted Unaudited Financial Statements
30 June 2024
Inverurie Skip Hire Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
93,619
154,533
Current assets
Debtors
7
21,261
78,575
Cash at bank and in hand
78,386
163,087
--------
---------
99,647
241,662
Creditors: amounts falling due within one year
8
170,928
240,661
---------
---------
Net current (liabilities)/assets
( 71,281)
1,001
--------
---------
Total assets less current liabilities
22,338
155,534
Creditors: amounts falling due after more than one year
9
17,001
24,844
Provisions
Taxation including deferred tax
13,466
38,633
--------
---------
Net (liabilities)/assets
( 8,129)
92,057
--------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 8,229)
91,957
-------
--------
Shareholders (deficit)/funds
( 8,129)
92,057
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Inverurie Skip Hire Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 21 February 2025 , and are signed on behalf of the board by:
Karen Coull
Graham Coull
Director
Director
Company registration number: SC480021
Inverurie Skip Hire Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Causewayfold Farm, Meikle Wartle, Inverurie, AB51 5AU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 13 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
40,000
--------
Amortisation
At 1 July 2023 and 30 June 2024
40,000
--------
Carrying amount
At 30 June 2024
--------
At 30 June 2023
--------
6. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 July 2023
172,279
352,349
524,628
Disposals
( 63,730)
( 72,350)
( 136,080)
---------
---------
---------
At 30 June 2024
108,549
279,999
388,548
---------
---------
---------
Depreciation
At 1 July 2023
134,679
235,416
370,095
Charge for the year
5,550
17,855
23,405
Disposals
( 53,879)
( 44,692)
( 98,571)
---------
---------
---------
At 30 June 2024
86,350
208,579
294,929
---------
---------
---------
Carrying amount
At 30 June 2024
22,199
71,420
93,619
---------
---------
---------
At 30 June 2023
37,600
116,933
154,533
---------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
5,698
64,077
Other debtors
15,563
14,498
--------
--------
21,261
78,575
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
19,825
63,095
Accruals and deferred income
1,958
2,813
Corporation tax
113
Social security and other taxes
5,130
18,155
Obligations under finance leases and hire purchase contracts
12,000
24,470
Director loan accounts
132,015
132,015
---------
---------
170,928
240,661
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Obligations under finance leases and hire purchase contracts
17,001
24,844
--------
--------