REGISTERED NUMBER: SC521325 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

YARWOODS EXCAVATOR ATTACHMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Yarwood

H A Brain

REGISTERED OFFICE:

173-175 Airdrie Road

Caldercruix

Airdire

Lanarkshire

ML6 8PA

REGISTERED NUMBER:

SC521325 (Scotland)

ACCOUNTANTS:

McDaid & Partners

Stanley House

69/71 Hamilton Road

Motherwell

Lanarkshire

ML1 3DG

FIXED ASSETS

Tangible assets

4

546,019

543,448

CURRENT ASSETS

Stocks

210,955

349,571

Debtors

5

345,547

258,583

Cash at bank

139,846

90,486

696,348

698,640

CREDITORS

Amounts falling due within one year

6

412,562

418,903

NET CURRENT ASSETS

283,786

279,737

TOTAL ASSETS LESS CURRENT LIABILITIES

829,805

823,185

CREDITORS

Amounts falling due after more than one year

7

(98,375

)

(158,901

)

PROVISIONS FOR LIABILITIES

(129,855

)

(102,202

)

NET ASSETS

601,575

562,082

CAPITAL AND RESERVES

Called up share capital

205,000

205,000

Capital redemption reserve

95,000

95,000

Retained earnings

301,575

262,082

601,575

562,082

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 5 December 2025 and were signed on its behalf by:

H A Brain - Director

P Yarwood - Director

1.	STATUTORY INFORMATION

Yarwoods Excavator Attachments 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 stated net of VAT. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Where the contract is only partially completed at the balance sheet date turnover represents the value of work provided to date based on a proportion of the contract value. Where payments are received in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery

-

20% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Basic financial instruments

Trade debtors

Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash

Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Government grants

Government grants are eligible for recognition within the financial statements once they become receivable

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant &

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

885,715

209,324

2,045

1,097,084

Additions

112,549

39,695

1,652

153,896

Disposals

(21,302

)

(10,750

)

(1,303

)

(33,355

)

At 31 December 2024

976,962

238,269

2,394

1,217,625

DEPRECIATION

At 1 January 2024

436,605

115,168

1,863

553,636

Charge for year

100,223

40,827

149

141,199

Eliminated on disposal

(11,226

)

(10,750

)

(1,253

)

(23,229

)

At 31 December 2024

525,602

145,245

759

671,606

NET BOOK VALUE

At 31 December 2024

451,360

93,024

1,635

546,019

At 31 December 2023

449,110

94,156

182

543,448

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

338,463

253,702

Other debtors

7,084

4,881

345,547

258,583

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

95,375

110,159

Trade creditors

146,680

138,026

Taxation and social security

80,932

47,782

Other creditors

89,575

122,936

412,562

418,903

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

98,375

127,651

Other creditors

-

31,250

98,375

158,901

8.	SECURED DEBTS

Peter Yarwood has a floating charge over the property or undertaking of the company.

9.	CONTINGENT LIABILITIES

The company has outstanding lease commitments of £47,400 (2022 £43,300).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

H A Brain and P Yarwood

Balance outstanding at start of year

492

(119,701

)

Amounts advanced

54,000

175,750

Amounts repaid

(55,945

)

(55,557

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,453

)

492

Loans to/from directors are interest free and repayable upon demand.