REGISTERED NUMBER: SC298984 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

GROUND EQUIPMENT HIRE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P Nicholas

Mrs S E Nicholas

K Mackenzie

SECRETARY:

Mrs S E Nicholas

REGISTERED OFFICE:

Unit 1

Burnhouse Industrial Estate

Whitburn

EH47 0LQ

REGISTERED NUMBER:

SC298984 (Scotland)

ACCOUNTANTS:

MacDonald Morton Ltd

Chartered Accountants

67 March Road

Edinburgh

EH4 3SU

BANKERS:

Handelsbanken PLC

18 Charlotte Square

Edinburgh

EH2 4DF

SOLICITORS:

Anderson Strathern

1 Rutland Court

Edinburgh

EH3 8EY

FIXED ASSETS

Intangible assets

4

30,333

43,333

Tangible assets

5

9,481,362

8,895,222

9,511,695

8,938,555

CURRENT ASSETS

Debtors

6

887,388

918,411

Cash at bank

862,490

1,183,181

1,749,878

2,101,592

CREDITORS

Amounts falling due within one year

7

1,065,289

1,355,238

NET CURRENT ASSETS

684,589

746,354

TOTAL ASSETS LESS CURRENT LIABILITIES

10,196,284

9,684,909

CREDITORS

Amounts falling due after more than one year

8

(5,775,000

)

(6,550,015

)

PROVISIONS FOR LIABILITIES

(1,805,046

)

(1,635,868

)

NET ASSETS

2,616,238

1,499,026

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

9

456,803

456,803

Retained earnings

2,159,433

1,042,221

SHAREHOLDERS' FUNDS

2,616,238

1,499,026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 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 31 January 2026 and were signed on its behalf by:

K Mackenzie - Director

1.	STATUTORY INFORMATION

Ground Equipment 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Revenue comprises the fair value of the sale of goods and services net of value added tax, rebates and discounts.

Revenue is recognised as follows:

Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the products, and collectability of the related receivables is fairly assured.In respect of products sold with a right of return, accumulated experience is used to estimate and provide for such returns at the time of sale.

Service revenues are recognised as those services are provided to customers.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets

Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities

Trade and other creditors are initially measured at the transaction price, including any transaction costs.

Directors loans are initially measured at the transaction price and are subsequently measured at the undiscounted amount of the cash expected to be paid within the appropriate period of creditors falling due within one year and creditors falling due after more than one year.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2024

and 31 August 2025

85,000

AMORTISATION

At 1 September 2024

41,667

Charge for year

13,000

At 31 August 2025

54,667

NET BOOK VALUE

At 31 August 2025

30,333

At 31 August 2024

43,333

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 September 2024

1,194,619

13,446,468

241,409

14,882,496

Additions

-

2,050,195

-

2,050,195

Disposals

-

(1,563,783

)

-

(1,563,783

)

At 31 August 2025

1,194,619

13,932,880

241,409

15,368,908

DEPRECIATION

At 1 September 2024

-

5,793,315

193,959

5,987,274

Charge for year

-

801,336

11,862

813,198

Eliminated on disposal

-

(912,926

)

-

(912,926

)

At 31 August 2025

-

5,681,725

205,821

5,887,546

NET BOOK VALUE

At 31 August 2025

1,194,619

8,251,155

35,588

9,481,362

At 31 August 2024

1,194,619

7,653,153

47,450

8,895,222

Cost or valuation at 31 August 2025 is represented by:

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

Valuation in 2022

456,803

-

-

456,803

Cost

737,816

13,932,880

241,409

14,912,105

1,194,619

13,932,880

241,409

15,368,908

Freehold land and buildings were valued on an open market basis on 31 August 2022 by Graham & Sibbald, Chartered Surveyors. The directors are satisfied that there has not been any material change to the valuation as at 31 August 2025.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

491,375

551,557

Other debtors

396,013

366,854

887,388

918,411

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade creditors

68,745

539,187

Taxation and social security

214,974

149,686

Other creditors

781,570

666,365

1,065,289

1,355,238

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Other creditors

5,775,000

6,550,015

9.

RESERVES

Revaluation

reserve

£

At 1 September 2024

and 31 August 2025

456,803

10.	RELATED PARTY DISCLOSURES

During the year Peter Nicholas (Director) converted part of his directors loan balance of £6,600,000 to redeemable preference shares. There was a subsequent redemption of £165,000 during the year, leaving a redeemable preference shares balance of £6,435,000 at the year end.