Muirhead Plant Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC247411

Muirhead Plant Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Muirhead Plant Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	795,051	1,006,942
Investments	6	65	65
		---------	------------
		795,116	1,007,007

Current assets

Stocks		200,135	702,690
Debtors	7	1,487,586	1,312,981
Cash at bank and in hand		147,109	72,771
		------------	------------
		1,834,830	2,088,442

Creditors: amounts falling due within one year	8	91,023	89,899
		------------	------------
Net current assets		1,743,807	1,998,543
		------------	------------
Total assets less current liabilities		2,538,923	3,005,550

Provisions

Taxation including deferred tax	151,903	174,289
	------------	------------
Net assets	2,387,020	2,831,261
	------------	------------

Capital and reserves

Called up share capital	5,000	5,000
Profit and loss account	2,382,020	2,826,261
	------------	------------
Shareholders funds	2,387,020	2,831,261
	------------	------------

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 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Muirhead Plant Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 13 September 2025 , and are signed on behalf of the board by:

S.J. Muirhead
Director

Company registration number: SC247411

Muirhead Plant Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Mooryett Cottage, Glasgow Road, Fenwick, Kilmarnock, KA 6EN.

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Buildings	-	4% straight line
Plant & Machinery	-	10 - 20% reducing balance
Motor Vehicles	-	25% straight line
Equipment	-	20% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2024: 11 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	272,496	1,452,944	54,314	16,819	1,796,573
Additions	–	290,000	–	–	290,000
Disposals	–	( 570,984)	( 19,975)	–	( 590,959)
	---------	------------	--------	--------	------------
At 31 March 2025	272,496	1,171,960	34,339	16,819	1,495,614
	---------	------------	--------	--------	------------
Depreciation
At 1 April 2024	75,453	665,733	34,747	13,698	789,631
Charge for the year	9,603	67,912	6,522	624	84,661
Disposals	–	( 153,754)	( 19,975)	–	( 173,729)
	---------	------------	--------	--------	------------
At 31 March 2025	85,056	579,891	21,294	14,322	700,563
	---------	------------	--------	--------	------------
Carrying amount
At 31 March 2025	187,440	592,069	13,045	2,497	795,051
	---------	------------	--------	--------	------------
At 31 March 2024	197,043	787,211	19,567	3,121	1,006,942
	---------	------------	--------	--------	------------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	65
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	65
	----
At 31 March 2024	65
	----

7. Debtors

	2025	2024
	£	£
Trade debtors	820,491	714,024
Amounts owed by group undertakings and undertakings in which the company has a participating interest	626,605	571,316
Other debtors	40,490	27,641
	------------	------------
	1,487,586	1,312,981
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	70,135	35,722
Corporation tax	–	11,480
Social security and other taxes	4,155	–
Other creditors	16,733	42,697
	--------	--------
	91,023	89,899
	--------	--------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
S.J. Muirhead	( 29,577)	20,771	( 8,806)
	--------	--------	-------

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
S.J. Muirhead	( 44,730)	15,153	( 29,577)
	--------	--------	--------

10. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Muirhead Plant Canada Limited - Loan	( 108,634)	( 11,015)	626,605	571,316
Muirhead Plant Canada Limited - Sales	235,286	1,246,810	631,899	613,484
	---------	------------	---------	---------

Muirhead Plant Canada Limited is a wholly owned subsidiary. Control:- The company was under the control of S Muirhead throughout the period. S Muirhead is the managing director and majority shareholder.