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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
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CAIRNGORM PLANT & TOOL HIRE LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
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CAIRNGORM PLANT & TOOL HIRE LTD |
CAIRNGORM PLANT & TOOL HIRE LTD (REGISTERED NUMBER: SC419915) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CAIRNGORM PLANT & TOOL HIRE LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
65 High Street |
Grantown on Spey |
Moray |
PH26 3EG |
CAIRNGORM PLANT & TOOL HIRE LTD (REGISTERED NUMBER: SC419915) |
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BALANCE SHEET |
31 MARCH 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Allotted,called up and fully paid share
capital |
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Profit and loss account - distributable |
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SHAREHOLDERS' FUNDS |
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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. |
CAIRNGORM PLANT & TOOL HIRE LTD (REGISTERED NUMBER: SC419915) |
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BALANCE SHEET - continued |
31 MARCH 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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CAIRNGORM PLANT & TOOL HIRE LTD (REGISTERED NUMBER: SC419915) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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1. | STATUTORY INFORMATION |
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Cairngorm Plant & Tool Hire Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling,which is the functional currency of the entity. |
At the balance sheet date, the company had net current liabilities totalling £51,627. However, the directors have |
agreed to subordinate their loans in favour of the other creditors and confirmed that they will ensure that |
adequate funds will be made available to meet third party liabilities as they fall due. They still consider it |
appropriate to prepare the financial statements on a going concern basis. |
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Turnover |
Turnover represents invoiced rentals of plant & equipment and sales of quarry products, excluding Value Added |
Tax. |
Revenue from rental income is recognised rateably over the term of the agreement on a straight line basis and is |
invoiced in arrears. |
Revenue from quarry sales is recognised when significant risks and rewards of ownership of the goods have |
passed to the buyer and the amount of revenue can be reliably measured. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Fixed assets are stated at cost, being purchase price, less accumulated depreciation. |
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Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated |
in the financial statements that arise from the inclusion of income and expense in tax assessments in periods |
different from those in which they are recognised in the financial statements. 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. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, |
non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that |
apply to the sale of the asset. |
CAIRNGORM PLANT & TOOL HIRE LTD (REGISTERED NUMBER: SC419915) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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 contracts 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. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liabilty. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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CAIRNGORM PLANT & TOOL HIRE LTD (REGISTERED NUMBER: SC419915) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Hire purchase contracts are secured over the assets to which they relate. |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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Other creditors |
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8. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 132,686 | 9,347 |
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Deferred |
tax |
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Balance at 1 April 2017 |
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Charge to Profit and Loss | 123,339 |
Balance at 31 March 2018 |
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The deferred tax balance consists of accelerated capital allowances. |