Scanlans (Plant Hire) Limited - Period Ending 2017-07-31

Registration number: 00769420

Scanlans (Plant Hire) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2017

Alextra Group Ltd
Chartered Certified Accountants
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

Scanlans (Plant Hire) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

Scanlans (Plant Hire) Limited

Company Information

Directors

Miss K Scanlan Mrs D Wilshaw Mrs C F Reddock Mr T Readdin

Registration number

00769420

Registered office

The Old Mill, Tricketts Lane Willaston Nantwich Cheshire CW5 6PZ

Accountants

Alextra Group Ltd Chartered Certified Accountants 7-9 Macon Court Crewe Cheshire CW1 6EA

Page 1

Scanlans (Plant Hire) Limited

(Registration number: 00769420)
Balance Sheet as at 31 July 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	306,366	440,555
Current assets
Stocks	5	17,184	14,129
Debtors	6	338,318	320,287
Cash at bank and in hand		173,033	125,205
		528,535	459,621
Creditors: Amounts falling due within one year	7	(221,476)	(227,766)
Net current assets		307,059	231,855
Total assets less current liabilities		613,425	672,410
Creditors: Amounts falling due after more than one year	7	(17,090)	(53,534)
Provisions for liabilities		(12,514)	(5,799)
Net assets		583,821	613,077
Capital and reserves
Called up share capital		4,034	4,034
Share premium reserve		15,705	15,705
Capital redemption reserve		250	250
Profit and loss account		563,832	593,088
Total equity		583,821	613,077

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

Scanlans (Plant Hire) Limited

(Registration number: 00769420)
Balance Sheet as at 31 July 2017

For the financial year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors Report has been taken.

Approved and authorised by the Board on 8 February 2018 and signed on its behalf by:
 

Miss K Scanlan

Director

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 3

Scanlans (Plant Hire) Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
The Old Mill, Tricketts Lane
Willaston
Nantwich
Cheshire
CW5 6PZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	2% on cost
Plant and machinery	at variable rates on reducing balance
Fixtures and fittings	20% on cost and 15% on reducing balance
Motor vehicles	25% on reducing balance
Computer equipment	25% on reducing balance

Page 4

Scanlans (Plant Hire) Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2016 - 12).

Page 5

Scanlans (Plant Hire) Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £
Cost or valuation
At 1 August 2016	133,238	64,888	28,991	1,815,673
Additions	-	1,611	-	85,250
Disposals	-	-	-	(72,837)
At 31 July 2017	133,238	66,499	28,991	1,828,086
Depreciation
At 1 August 2016	89,991	47,078	19,440	1,445,726
Charge for the year	43,247	7,818	4,933	158,535
Eliminated on disposal	-	-	-	(66,320)
At 31 July 2017	133,238	54,896	24,373	1,537,941
Carrying amount
At 31 July 2017	-	11,603	4,618	290,145
At 31 July 2016	43,247	17,810	9,551	369,947

	Total £
Cost or valuation
At 1 August 2016	2,042,790
Additions	86,861
Disposals	(72,837)
At 31 July 2017	2,056,814
Depreciation
At 1 August 2016	1,602,235
Charge for the year	214,533
Eliminated on disposal	(66,320)
At 31 July 2017	1,750,448
Carrying amount
At 31 July 2017	306,366
At 31 July 2016	440,555

Page 6

Scanlans (Plant Hire) Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

5

Stocks

	2017 £	2016 £
Other inventories	17,184	14,129

6

Debtors

	2017 £	2016 £
Trade debtors	72,775	94,118
Other debtors	265,543	226,169
Total current trade and other debtors	338,318	320,287

7

Creditors

	Note	2017 £	2016 £
Due within one year
Bank loans and overdrafts	8	77,787	77,676
Trade creditors		102,887	64,690
Taxation and social security		22,312	25,354
Other creditors		18,490	60,046
		221,476	227,766
Due after one year
Loans and borrowings	8	17,090	53,534

8	Loans and borrowings

	2017 £	2016 £
Non-current loans and borrowings
Finance lease liabilities	17,090	53,534

Page 7

Scanlans (Plant Hire) Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

	2017 £	2016 £
Current loans and borrowings
Finance lease liabilities	77,787	77,676

9	Transition to FRS 102

This is the first year that the company has presented its financial statements under Financial Reporting Standard 102 (FRS 102), the financial reporting standard applicable in the UK and Republic of Ireland.

The date of transition was 1 August 2016, and there were minimal changes required to the company’s accounting policies.

There is no difference between the financial position or financial performance as a result of the transition.

Page 8