Whitehill Plant Hire Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC136388 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2015

FOR

WHITEHILL PLANT HIRE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

C Elrick

SECRETARY:

W M Elrick

REGISTERED OFFICE:

Whitehill

New Deer

Turriff

Aberdeenshire

AB53 6UH

REGISTERED NUMBER:

SC136388 (Scotland)

FIXED ASSETS

Tangible assets

2

930

1,350

CURRENT ASSETS

Stocks

12,000

Debtors

380,815

325,976

Investments

54,883

Cash at bank

23,090

7,715

470,788

400,574

CREDITORS

Amounts falling due within one year

894,864

828,738

NET CURRENT LIABILITIES

(424,076

)

(428,164

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(423,146

)

(426,814

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(423,148

)

(426,816

)

SHAREHOLDERS' FUNDS

(423,146

)

(426,814

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 July 2016 and were signed by:

C Elrick - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which assumes that the company will

continue to trade. This assumption is based upon assurances received from officers of the company that it is

their intention to provide such assistance as is required to enable the company to meet its financial commitments.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

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 etc

-

25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result which is result in an obligation to pay more or (less tax) tax at a future date, at the

average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and

laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there

is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 useful lives or the term of the lease, whichever is the shorter.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

384,645

Additions

792

Disposals

(38,500

)

At 31 October 2015

346,937

DEPRECIATION

At 1 November 2014

383,295

Charge for year

962

Eliminated on disposal

(38,250

)

At 31 October 2015

346,007

NET BOOK VALUE

At 31 October 2015

930

At 31 October 2014

1,350

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2

Ordinary

1

2

4.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Whitehill Holdings Ltd.

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2015 and

31 October 2014:

2015

2014

£

C Elrick

Balance outstanding at start of year

41,830

38,377

Amounts repaid

-

Balance outstanding at end of year

45,568

41,830

This loan is interest bearing and has no fixed terms of repayment.