Park Plant and Vehicle Leasing Ltd - Accounts to registrar (filleted) - small 18.2

Park Plant and Vehicle Leasing Ltd - Accounts to registrar (filleted) - small 18.2

PARK PLANT AND VEHICLE LEASING LTD - Company Information

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IRIS Accounts Production v20.1.7.12 SC369395 director 1.1.19 31.12.19 31.12.19 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3693952018-12-31SC3693952019-12-31SC3693952019-01-012019-12-31SC3693952017-12-31SC3693952018-01-012018-12-31SC3693952018-12-31SC369395ns16:Scotland2019-01-012019-12-31SC369395ns15:PoundSterling2019-01-012019-12-31SC369395ns11:Director12019-01-012019-12-31SC369395ns11:PrivateLimitedCompanyLtd2019-01-012019-12-31SC369395ns11:SmallEntities2019-01-012019-12-31SC369395ns11:AuditExempt-NoAccountantsReport2019-01-012019-12-31SC369395ns11:SmallCompaniesRegimeForDirectorsReport2019-01-012019-12-31SC369395ns11:SmallCompaniesRegimeForAccounts2019-01-012019-12-31SC369395ns11:FullAccounts2019-01-012019-12-31SC369395ns11:RegisteredOffice2019-01-012019-12-31SC369395ns6:CurrentFinancialInstruments2019-12-31SC369395ns6:CurrentFinancialInstruments2018-12-31SC369395ns6:ShareCapital2019-12-31SC369395ns6:ShareCapital2018-12-31SC369395ns6:RetainedEarningsAccumulatedLosses2019-12-31SC369395ns6:RetainedEarningsAccumulatedLosses2018-12-31SC369395ns6:PlantMachinery2018-12-31SC369395ns6:PlantMachinery2019-01-012019-12-31SC369395ns6:PlantMachinery2019-12-31SC369395ns6:PlantMachinery2018-12-31SC369395ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-12-31SC369395ns6:CurrentFinancialInstrumentsns6:WithinOneYear2018-12-31SC369395ns6:DeferredTaxation2018-12-31SC369395ns6:DeferredTaxation2019-12-31
REGISTERED NUMBER: SC369395 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

PARK PLANT AND VEHICLE LEASING LTD
PARK PLANT AND VEHICLE LEASING LTD (REGISTERED NUMBER: SC369395)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARK PLANT AND VEHICLE LEASING LTD

COMPANY INFORMATION
for the year ended 31 December 2019







DIRECTOR: Sean Reilly





REGISTERED OFFICE: Sr House
18 Tom Johnston Road
Dundee
Tayside
DD4 8XD





REGISTERED NUMBER: SC369395 (Scotland)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Viewforth House
189 Nicol Street
Kirkcaldy
Fife
KY1 1PF
Page 1
PARK PLANT AND VEHICLE LEASING LTD (REGISTERED NUMBER: SC369395)

BALANCE SHEET
31 December 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,277,442 939,482

CURRENT ASSETS
Debtors 5 130,000 147,839
Cash at bank and in hand 7,223 5,167
137,223 153,006
CREDITORS
Amounts falling due within one year 6 935,299 969,009
NET CURRENT LIABILITIES (798,076 ) (816,003 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
479,366
123,479

PROVISIONS FOR LIABILITIES 7 125,354 49,219
NET ASSETS 354,012 74,260

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 353,912 74,160
354,012 74,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
PARK PLANT AND VEHICLE LEASING LTD (REGISTERED NUMBER: SC369395)

BALANCE SHEET - continued
31 December 2019


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 August 2020 and were signed
by:





Sean Reilly - Director


The notes form part of these financial statements

Page 3
PARK PLANT AND VEHICLE LEASING LTD (REGISTERED NUMBER: SC369395)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2019

1. STATUTORY INFORMATION

Park Plant and Vehicle Leasing Ltd 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.

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.

At 31 December 2019 the company had net current liabilities of £798,076 (2018 - £816,003) and relies on the
continued support of the directors, shareholders and related companies to finance its working capital
requirements. The directors consider it appropriate to prepare the financial statements on the going concern
basis as they expect that this support will continue for the foreseeable future.

The financial statements have been prepared on a going concern basis. The Director has reviewed and
considered relevant information, including the annual budget and future cash flows in making his assessment.
In particular, in response to the COVID-19 pandemic, the Director has tested the cash flow analysis to take
into account the impact on their business of possible scenarios brought on by the impact of COVID-19,
alongside the measures that they can take to mitigate the impact. Based on these assessments, given the
measures that could be undertaken to mitigate the current adverse conditions, and the current resources
available, the Director has concluded that he can continue to adopt the going concern basis in preparing the
annual report and accounts.

TURNOVER
Turnover represents the value of scaffolding hire services provided, excluding value added tax, during the year.
Revenue is recognised in the year, in which the services are provided.

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 - 30% straight line


During the year the directors reassessed the useful life of the scaffolding equipment resulting in a change in
depreciation method from 20% straight line to 30% straight line. The depreciation charge for the year
therefore reflects the opening book value of scaffolding equipment and new scaffolding acquired in the year
being depreciation at this revised rate.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and
Retained Earnings, 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.


Page 4 continued...
PARK PLANT AND VEHICLE LEASING LTD (REGISTERED NUMBER: SC369395)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2019

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

3. EMPLOYEES

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2019 2,871,789
Additions 885,436
At 31 December 2019 3,757,225
DEPRECIATION
At 1 January 2019 1,932,307
Charge for year 547,476
At 31 December 2019 2,479,783
NET BOOK VALUE
At 31 December 2019 1,277,442
At 31 December 2018 939,482

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Amounts owed by group undertakings 130,000 130,000
Other debtors - 17,839
130,000 147,839

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Amounts owed to group undertakings 935,299 969,009

Page 5 continued...
PARK PLANT AND VEHICLE LEASING LTD (REGISTERED NUMBER: SC369395)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2019

7. PROVISIONS FOR LIABILITIES
2019 2018
£    £   
Deferred tax 125,354 49,219

Deferred
tax
£   
Balance at 1 January 2019 49,219
Accelerated capital allowances 76,135
Balance at 31 December 2019 125,354

8. CONTROLLING PARTY

The company is a wholly owned subsidiary of Triang Properties Ltd which is, in turn, a wholly owned
subsidiary of Athlone Holding Company Ltd. Both companies are incorporated in Scotland and have the same
registered office as Park Plant and Vehicle Leasing Ltd.

The company is controlled by Mr Sean Reilly, who owns 100% of the share capital of Athlone Holding
Company Ltd.

Page 6