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REGISTERED NUMBER: SC231295 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

DAVID SMITH (PLANT HIRE) LTD.

DAVID SMITH (PLANT HIRE) LTD. (REGISTERED NUMBER: SC231295)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAVID SMITH (PLANT HIRE) LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: D A Smith





SECRETARY: Mrs R M Smith





REGISTERED OFFICE: Cairnmuir
Memsie
Fraserburgh
Aberdeenshire
AB43 7AR





REGISTERED NUMBER: SC231295 (Scotland)

DAVID SMITH (PLANT HIRE) LTD. (REGISTERED NUMBER: SC231295)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 11,455 14,585
Tangible assets 6 16,250,000 15,500,183
Investments 7 15,959 15,959
16,277,414 15,530,727

CURRENT ASSETS
Stocks 77,428 81,673
Debtors 8 1,343,013 999,525
Cash at bank 957,376 646,782
2,377,817 1,727,980
CREDITORS
Amounts falling due within one year 9 1,581,193 1,485,060
NET CURRENT ASSETS 796,624 242,920
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,074,038

15,773,647

CREDITORS
Amounts falling due after more than one
year

10

(566,000

)

(718,781

)

PROVISIONS FOR LIABILITIES (825,757 ) (684,405 )
NET ASSETS 15,682,281 14,370,461

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 15,682,279 14,370,459
SHAREHOLDERS' FUNDS 15,682,281 14,370,461

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 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.

DAVID SMITH (PLANT HIRE) LTD. (REGISTERED NUMBER: SC231295)

BALANCE SHEET - continued
30 APRIL 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 28 April 2025 and were signed by:





D A Smith - Director


DAVID SMITH (PLANT HIRE) LTD. (REGISTERED NUMBER: SC231295)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

David Smith (Plant Hire) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Useful lives and deprecation of fixed assets
Depreciation rates are based on the estimated useful lives of assets, which is judgement exercised by management taking into account actual experience.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2010 and 2014 is being amortised evenly over its estimated useful life of five years.

Other intangible assets
Other intangible assets are being amortised evenly over their estimated useful life of five years.

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 - 20% reducing balance & 5% straight line

DAVID SMITH (PLANT HIRE) LTD. (REGISTERED NUMBER: SC231295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their useful lives or the term of the lease, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 18 ) .

DAVID SMITH (PLANT HIRE) LTD. (REGISTERED NUMBER: SC231295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 310,350 33,384 343,734
AMORTISATION
At 1 May 2023 310,350 18,799 329,149
Charge for year - 3,130 3,130
At 30 April 2024 310,350 21,929 332,279
NET BOOK VALUE
At 30 April 2024 - 11,455 11,455
At 30 April 2023 - 14,585 14,585

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 12,196,876 10,310,256 22,507,132
Additions 923,379 1,091,177 2,014,556
Disposals (181,600 ) (1,199,546 ) (1,381,146 )
At 30 April 2024 12,938,655 10,201,887 23,140,542
DEPRECIATION
At 1 May 2023 490,668 6,516,281 7,006,949
Charge for year 125,189 795,236 920,425
Eliminated on disposal - (1,036,832 ) (1,036,832 )
At 30 April 2024 615,857 6,274,685 6,890,542
NET BOOK VALUE
At 30 April 2024 12,322,798 3,927,202 16,250,000
At 30 April 2023 11,706,208 3,793,975 15,500,183

Included in cost of land and buildings is freehold land of £ 6,639,195 (2023 - £ 6,548,090 ) which is not depreciated.

Included within the net book value of £3,927,202 is £1,014,828 (2023 - £781,237) relating to assets held under hire purchase agreements. The depreciation charged to the profit and loss account in the year in respect of such assets amounted to £189,558 (2023 - £155,622).

DAVID SMITH (PLANT HIRE) LTD. (REGISTERED NUMBER: SC231295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 15,958 1 15,959
NET BOOK VALUE
At 30 April 2024 15,958 1 15,959
At 30 April 2023 15,958 1 15,959

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 643,311 696,204
Amounts recoverable on contract 27,872 36,318
Other debtors 671,830 267,003
1,343,013 999,525

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 194,000 184,000
Hire purchase contracts 276,719 156,555
Trade creditors 149,869 189,291
Taxation and social security 82,301 90,252
Other creditors 878,304 864,962
1,581,193 1,485,060

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 330,289 525,008
Hire purchase contracts 235,711 193,773
566,000 718,781

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 524,289 709,008
Hire purchase contracts 512,430 350,328
1,036,719 1,059,336

DAVID SMITH (PLANT HIRE) LTD. (REGISTERED NUMBER: SC231295)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

13. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 615,836