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REGISTERED NUMBER: SC198142 (Scotland)















Financial Statements

for the Year Ended 31 July 2024

for

Solway Plant Hire Limited

Solway Plant Hire Limited (Registered number: SC198142)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Solway Plant Hire Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mrs A McLurg
J McLurg
J McLurg





REGISTERED OFFICE: 57 High Street
Dalbeattie
DG5 4HA





REGISTERED NUMBER: SC198142 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Solway Plant Hire Limited (Registered number: SC198142)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,655,181 2,759,886

CURRENT ASSETS
Debtors 5 1,196,207 1,259,540
Cash at bank 456,721 112,397
1,652,928 1,371,937
CREDITORS
Amounts falling due within one year 6 530,581 393,900
NET CURRENT ASSETS 1,122,347 978,037
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,777,528

3,737,923

CREDITORS
Amounts falling due after more than one year 7 (45,832 ) (62,963 )

PROVISIONS FOR LIABILITIES (549,225 ) (482,522 )
NET ASSETS 3,182,471 3,192,438

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 3,182,469 3,192,436
SHAREHOLDERS' FUNDS 3,182,471 3,192,438

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

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

The directors acknowledge their 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.

Solway Plant Hire Limited (Registered number: SC198142)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





J McLurg - Director


Solway Plant Hire Limited (Registered number: SC198142)

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

1. STATUTORY INFORMATION

Solway Plant Hire Limited 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. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 August 2023 169,670 9,479 4,861,356
Additions - - 708,488
Disposals - - (595,027 )
At 31 July 2024 169,670 9,479 4,974,817
DEPRECIATION
At 1 August 2023 - 7,467 2,398,876
Charge for year - 302 362,192
Eliminated on disposal - - (169,731 )
At 31 July 2024 - 7,769 2,591,337
NET BOOK VALUE
At 31 July 2024 169,670 1,710 2,383,480
At 31 July 2023 169,670 2,012 2,462,480

Solway Plant Hire Limited (Registered number: SC198142)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 297 447,144 4,987 5,492,933
Additions - 15,250 - 723,738
Disposals - (14,250 ) - (609,277 )
At 31 July 2024 297 448,144 4,987 5,607,394
DEPRECIATION
At 1 August 2023 297 323,166 3,241 2,733,047
Charge for year - 30,962 582 394,038
Eliminated on disposal - (5,141 ) - (174,872 )
At 31 July 2024 297 348,987 3,823 2,952,213
NET BOOK VALUE
At 31 July 2024 - 99,157 1,164 2,655,181
At 31 July 2023 - 123,978 1,746 2,759,886

5. DEBTORS
31.7.24 31.7.23
£    £   
Amounts falling due within one year:
Debtors & Work In Progress 532,903 458,399
CIS Debtor - 243,837
Prepayments and accrued income 10,784 10,784
543,687 713,020

Amounts falling due after more than one year:
Other debtors 652,520 546,520

Aggregate amounts 1,196,207 1,259,540

Solway Plant Hire Limited (Registered number: SC198142)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 9,202 10,000
Hire purchase contracts 87,585 80,528
Trade creditors 158,794 56,244
Tax 41,675 -
Social security and other taxes 162,883 198,480
VAT 47,992 30,558
Other creditors 16,530 7,793
Directors' current accounts 1,770 6,498
Accrued expenses 4,150 3,799
530,581 393,900

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans - 2-5 years 11,035 19,438
Hire purchase contracts 34,797 43,525
45,832 62,963

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
2 Ordinary Share Capital £1 2 2