REGISTERED NUMBER: SC201236 (Scotland)

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

for

Bridgend Hire Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

L Aitchison

D F Mellish

REGISTERED OFFICE:

Crosshill Blackbryes Road

Barrhead

Glasgow

G78 1TG

REGISTERED NUMBER:

SC201236 (Scotland)

INDEPENDENT AUDITORS:

Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

468,668

577,737

CURRENT ASSETS

Debtors

5

283,562

418,423

Cash at bank

18,274

34,621

301,836

453,044

CREDITORS

Amounts falling due within one year

6

320,623

365,100

NET CURRENT (LIABILITIES)/ASSETS

(18,787

)

87,944

TOTAL ASSETS LESS CURRENT LIABILITIES

449,881

665,681

CREDITORS

Amounts falling due after more than one year

7

(309,379

)

(388,437

)

PROVISIONS FOR LIABILITIES

-

(53,444

)

NET ASSETS

140,502

223,800

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

140,402

223,700

140,502

223,800

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

Bridgend 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Improvements to property

-

5% on cost

Fixed plant and equipment

-

20% on cost

Motor vehicles

-

50% on cost and 50% on reducing balance

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.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixed

to

plant and

Motor

property

equipment

vehicles

Totals

£

£

£

£

COST

At 1 August 2024

70,627

1,869,045

261,563

2,201,235

Disposals

-

(119,826

)

-

(119,826

)

At 31 December 2024

70,627

1,749,219

261,563

2,081,409

DEPRECIATION

At 1 August 2024

32,408

1,366,599

224,491

1,623,498

Charge for period

5,885

66,112

37,072

109,069

Eliminated on disposal

-

(119,826

)

-

(119,826

)

At 31 December 2024

38,293

1,312,885

261,563

1,612,741

NET BOOK VALUE

At 31 December 2024

32,334

436,334

-

468,668

At 31 July 2024

38,219

502,446

37,072

577,737

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

826,121

177,950

1,004,071

Disposals

(119,826

)

-

(119,826

)

Transfer to ownership

(706,295

)

-

(706,295

)

Reclassification/transfer

793,335

-

793,335

At 31 December 2024

793,335

177,950

971,285

DEPRECIATION

At 1 August 2024

826,121

140,877

966,998

Charge for period

66,111

37,073

103,184

Eliminated on disposal

(119,826

)

-

(119,826

)

Transfer to ownership

(706,295

)

-

(706,295

)

Reclassification/transfer

290,890

-

290,890

At 31 December 2024

357,001

177,950

534,951

NET BOOK VALUE

At 31 December 2024

436,334

-

436,334

At 31 July 2024

-

37,073

37,073

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade debtors

15,486

56,144

Amounts owed by group undertakings

135,200

149,578

VAT

131,371

134,701

Prepayments and accrued income

1,505

78,000

283,562

418,423

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Hire purchase contracts

185,476

229,123

Trade creditors

17,511

25,181

Amounts owed to group undertakings

58,292

-

Social security and other taxes

4,676

4,901

Other creditors

884

905

Directors' current accounts

35,640

35,640

Accruals and deferred income

18,144

69,350

320,623

365,100

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2024

£

£

Hire purchase contracts

309,379

388,437

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2024

£

£

Hire purchase contracts

494,855

617,560

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

9.	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

10.	RELATED PARTY DISCLOSURES

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.