Centre Plant Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC142095 (Scotland)

Financial Statements for the Year Ended 31 May 2019

for

Centre Plant Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P J McBride

P A G McBride

D S Kelly

SECRETARY:

D S Kelly

REGISTERED OFFICE:

28 Muriel Street

Barrhead

G78 1QB

REGISTERED NUMBER:

SC142095 (Scotland)

FIXED ASSETS

Tangible assets

4

1,658,672

2,254,977

CURRENT ASSETS

Debtors

5

881,727

46,245

Cash at bank

-

2,205

881,727

48,450

CREDITORS

Amounts falling due within one year

6

(611,629

)

(940,825

)

NET CURRENT ASSETS/(LIABILITIES)

270,098

(892,375

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,928,770

1,362,602

CREDITORS

Amounts falling due after more than one year

7

(925,720

)

(711,451

)

PROVISIONS FOR LIABILITIES

10

(112,783

)

(45,921

)

NET ASSETS

890,267

605,230

CAPITAL AND RESERVES

Called up share capital

500

500

Capital redemption reserve

500

500

Retained earnings

889,267

604,230

SHAREHOLDERS' FUNDS

890,267

605,230

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 16 August 2019 and were signed on its behalf by:

D S Kelly - Director

1.	STATUTORY INFORMATION

Centre 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value

of each asset over its estimated useful life.

Plant and machinery etc - 25% straight line

Motor Vehicles - 25% straight line

Fully depreciated assets are retained in cost and related accumulated depreciation until they are removed from

service. In the case of disposals, assets and related depreciation are removed from the financial statements and

the net amount, less proceeds from disposal, is charged or credited to the income statement.

Financial instruments

Debtors

Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any

irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents

Cash and cash equivalent in the balance sheet comprise cash in hand and at bank.

Creditors

Trade creditors and other creditors are recognised where the company has a present obligation resulting from a

past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their

estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

The costs associated with operating leases are recognised in the period in which they fall due.

Pension costs and other post-retirement benefits

The company contributes to a group personal pension scheme for the benefit of one of its directors. These funds

are administered by third parties and are separate from the company. The cost is charged to the profit and loss

account as the contributions are paid.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 June 2018

4,695,623

1,007,137

5,702,760

Additions

915,750

-

915,750

Disposals

(4,074,717

)

-

(4,074,717

)

At 31 May 2019

1,536,656

1,007,137

2,543,793

DEPRECIATION

At 1 June 2018

2,939,358

508,425

3,447,783

Charge for year

386,098

54,789

440,887

Eliminated on disposal

(3,003,549

)

-

(3,003,549

)

At 31 May 2019

321,907

563,214

885,121

NET BOOK VALUE

At 31 May 2019

1,214,749

443,923

1,658,672

At 31 May 2018

1,756,265

498,712

2,254,977

Included within the net book value above are assets held under hire purchase agreements of £1,628,736 (2018:

£1,655,286).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

-

45,083

Amounts owed by group undertakings

880,261

-

Other debtors

1,466

1,162

881,727

46,245

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Bank loans and overdrafts

2,935

-

Hire purchase contracts (see note 8)

404,222

365,052

Trade creditors

50,360

85,697

Amounts owed to group undertakings

89,500

407,422

Taxation and social security

55,058

74,364

Other creditors

9,554

8,290

611,629

940,825

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.19

31.5.18

£

£

Hire purchase contracts (see note 8)

925,720

711,451

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.5.19

31.5.18

£

£

Net obligations repayable:

Within one year

404,222

365,052

Between one and five years

925,720

711,451

1,329,942

1,076,503

Non-cancellable operating

leases

31.5.19

31.5.18

£

£

Within one year

305,263

-

Between one and five years

704,824

-

1,010,087

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.19

31.5.18

£

£

Hire purchase contracts

1,329,942

1,076,503

Hire purchase creditors are secured over the assets to which they relate.

10.	PROVISIONS FOR LIABILITIES

31.5.19

31.5.18

£

£

Deferred tax

112,783

45,921

Deferred

tax

£

Balance at 1 June 2018

45,921

Provided during year

66,862

Balance at 31 May 2019

112,783

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

The Report of the Auditors was unqualified.

Fiona Russell (Senior Statutory Auditor)

for and on behalf of McLay McAlister & McGibbon LLP

12.	APB 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.

13.	ULTIMATE PARENT COMPANY

The ultimate parent company is Allma Holdings Limited.

ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P A G McBride.