Leggat Plant Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC095198 (Scotland)

Financial Statements For The Period 1 August 2024 to 31 December 2024

for

Leggat Plant Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

L Aitchison

D F Mellish

REGISTERED OFFICE:

Crossmill

Blackbyres Road

Barrhead

G78 1TG

REGISTERED NUMBER:

SC095198 (Scotland)

INDEPENDENT AUDITORS:

Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

2,509,606

2,071,174

CURRENT ASSETS

Debtors

5

1,350,489

1,548,983

Cash at bank and in hand

323,349

553,616

1,673,838

2,102,599

CREDITORS

Amounts falling due within one year

6

1,393,936

2,005,342

NET CURRENT ASSETS

279,902

97,257

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,789,508

2,168,431

CREDITORS

Amounts falling due after more than one year

7

(1,554,854

)

(1,146,941

)

PROVISIONS FOR LIABILITIES

(323,114

)

(275,439

)

NET ASSETS

911,540

746,051

CAPITAL AND RESERVES

Called up share capital

50,000

Retained earnings

861,540

696,051

911,540

746,051

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2026 and were signed on its behalf by:

L Aitchison - Director

1.	STATUTORY INFORMATION

Leggat Plant 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.

Significant judgements and estimates

The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Turnover

Turnover represents the invoiced value of services provided during the period, excluding value added tax. The company's policy is to recognise a sale when all the risks and rewards in connection with the services have been passed to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixed plant and equipment

-

20% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Hire purchase and leasing commitments

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

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

Rentals paid under operating leases where substantially all the benefits and risks of ownership remain with the lessor, are charged to the profit and loss account on a straight line basis.

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 period was 23 (2024 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixed

Fixtures

plant and

and

Motor

equipment

fittings

vehicles

Totals

£

COST

At 1 August 2024

6,410,592

55,521

274,431

6,740,544

Additions

778,894

-

778,894

Disposals

(1,020,000

)

-

(1,020,000

)

At 31 December 2024

6,169,486

55,521

274,431

6,499,438

DEPRECIATION

At 1 August 2024

4,342,179

55,521

271,670

4,669,370

Charge for period

337,701

-

2,761

340,462

Eliminated on disposal

(1,020,000

)

-

(1,020,000

)

At 31 December 2024

3,659,880

55,521

274,431

3,989,832

NET BOOK VALUE

At 31 December 2024

2,509,606

-

2,509,606

At 31 July 2024

2,068,413

-

2,761

2,071,174

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixed

plant and

Motor

equipment

vehicles

Totals

£

COST

At 1 August 2024

5,312,437

238,112

5,550,549

Additions

778,894

-

778,894

Transfer to ownership

(3,156,669

)

(59,114

)

(3,215,783

)

At 31 December 2024

2,934,662

178,998

3,113,660

DEPRECIATION

At 1 August 2024

3,244,025

235,352

3,479,377

Charge for period

179,647

-

179,647

Transfer to ownership

(2,757,408

)

(56,354

)

(2,813,762

)

At 31 December 2024

666,264

178,998

845,262

NET BOOK VALUE

At 31 December 2024

2,268,398

-

2,268,398

At 31 July 2024

2,068,412

2,760

2,071,172

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

£

Trade debtors

605,289

1,133,156

Amounts owed by group undertakings

-

333,875

VAT

612,572

66,301

Prepayments and accrued income

132,628

15,651

1,350,489

1,548,983

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

£

Hire purchase contracts (see note 8)

720,457

711,694

Trade creditors

78,863

135,504

Amounts owed to group undertakings

514,166

-

Social security and other taxes

43,039

31,652

Other creditors

5,380

192,878

Accruals and deferred income

32,031

933,614

1,393,936

2,005,342

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

£

Hire purchase contracts (see note 8)

1,554,854

1,146,941

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

£

Net obligations repayable:

Within one year

720,457

711,694

Between one and five years

1,554,854

1,146,941

2,275,311

1,858,635

Non-cancellable

operating leases

2024

£

Within one year

6,362

Between one and five years

10,073

6,892

16,435

13,254

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

£

Hire purchase contracts

2,275,311

1,858,635

Hire purchase obligations are secured over the assets they relate to.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham Cantlay CA (Senior Statutory Auditor)

for and on behalf of Robb Ferguson

11.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.