P R Weldhen Plant Limited 07585928 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is that of plant hire Digita Accounts Production Advanced 6.30.9574.0 true 07585928 2021-04-01 2022-03-31 07585928 2022-03-31 07585928 bus:OrdinaryShareClass1 2022-03-31 07585928 core:RetainedEarningsAccumulatedLosses 2022-03-31 07585928 core:ShareCapital 2022-03-31 07585928 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-03-31 07585928 core:CurrentFinancialInstruments 2022-03-31 07585928 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07585928 core:Non-currentFinancialInstruments 2022-03-31 07585928 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 07585928 core:FurnitureFittingsToolsEquipment 2022-03-31 07585928 core:LandBuildings 2022-03-31 07585928 core:MotorVehicles 2022-03-31 07585928 core:OtherPropertyPlantEquipment 2022-03-31 07585928 bus:SmallEntities 2021-04-01 2022-03-31 07585928 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 07585928 bus:FullAccounts 2021-04-01 2022-03-31 07585928 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 07585928 bus:RegisteredOffice 2021-04-01 2022-03-31 07585928 bus:Director1 2021-04-01 2022-03-31 07585928 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 07585928 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 07585928 core:Buildings 2021-04-01 2022-03-31 07585928 core:FurnitureFittings 2021-04-01 2022-03-31 07585928 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 07585928 core:LandBuildings 2021-04-01 2022-03-31 07585928 core:MotorVehicles 2021-04-01 2022-03-31 07585928 core:OfficeEquipment 2021-04-01 2022-03-31 07585928 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 07585928 core:PlantMachinery 2021-04-01 2022-03-31 07585928 countries:AllCountries 2021-04-01 2022-03-31 07585928 2021-03-31 07585928 core:FurnitureFittingsToolsEquipment 2021-03-31 07585928 core:LandBuildings 2021-03-31 07585928 core:MotorVehicles 2021-03-31 07585928 core:OtherPropertyPlantEquipment 2021-03-31 07585928 2020-04-01 2021-03-31 07585928 2021-03-31 07585928 bus:OrdinaryShareClass1 2021-03-31 07585928 core:RetainedEarningsAccumulatedLosses 2021-03-31 07585928 core:ShareCapital 2021-03-31 07585928 core:HirePurchaseContracts core:CurrentFinancialInstruments 2021-03-31 07585928 core:CurrentFinancialInstruments 2021-03-31 07585928 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 07585928 core:Non-currentFinancialInstruments 2021-03-31 07585928 core:Non-currentFinancialInstruments core:AfterOneYear 2021-03-31 07585928 core:FurnitureFittingsToolsEquipment 2021-03-31 07585928 core:LandBuildings 2021-03-31 07585928 core:MotorVehicles 2021-03-31 07585928 core:OtherPropertyPlantEquipment 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

P R Weldhen Plant Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2022

Registration number: 07585928

 

P R Weldhen Plant Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

P R Weldhen Plant Limited

Balance Sheet

31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

1,256,609

1,143,319

Current assets

 

Stocks

5

6,500

5,000

Debtors

6

1,158,626

837,583

Cash at bank and in hand

 

73,036

346,215

 

1,238,162

1,188,798

Creditors: Amounts falling due within one year

7

(521,197)

(473,961)

Net current assets

 

716,965

714,837

Total assets less current liabilities

 

1,973,574

1,858,156

Creditors: Amounts falling due after more than one year

7

(136,765)

(256,896)

Provisions for liabilities

(214,075)

(198,978)

Net assets

 

1,622,734

1,402,282

Capital and reserves

 

Called up share capital

9

1

1

Profit and loss account

1,622,733

1,402,281

Shareholders' funds

 

1,622,734

1,402,282

 

P R Weldhen Plant Limited

Balance Sheet

31 March 2022

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 August 2022
 

.........................................
P R Weldhen
Director

   
     

Company Registration Number: 07585928

 

P R Weldhen Plant Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

1

General information

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

The address of its registered office is:
Trekenning Farm
Trekenning
Newquay
Cornwall
TR8 4JA

These financial statements were authorised for issue by the director on 26 August 2022.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax,

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

P R Weldhen Plant Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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

Site office

10 years, straight line basis

Plant and machinery

5 years, straight line basis

Fixtures and fittings

4 years, straight line basis

Office equipment

25% reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

P R Weldhen Plant Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 31 (2021 - 31).

 

P R Weldhen Plant Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2021

3,895

23,494

121,331

2,525,280

2,674,000

Additions

2,885

1,060

8,495

667,034

679,474

Disposals

-

-

(833)

(161,600)

(162,433)

At 31 March 2022

6,780

24,554

128,993

3,030,714

3,191,041

Depreciation

At 1 April 2021

1,846

23,383

60,555

1,444,897

1,530,681

Charge for the year

1,090

377

21,810

465,347

488,624

Eliminated on disposal

-

-

(833)

(84,040)

(84,873)

At 31 March 2022

2,936

23,760

81,532

1,826,204

1,934,432

Carrying amount

At 31 March 2022

3,844

794

47,461

1,204,510

1,256,609

At 31 March 2021

2,049

111

60,776

1,080,383

1,143,319

 

P R Weldhen Plant Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

Leased assets

Included within the net book value of tangible fixed assets is £789,736 (2021 - £710,342) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £277,455 (2021 - £215,325).

5

Stocks

2022
£

2021
£

Stock

6,500

5,000

6

Debtors

2022
£

2021
£

Trade debtors

1,089,520

806,733

Prepayments

69,106

30,850

1,158,626

837,583

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

254,930

251,785

Trade creditors

 

118,708

119,975

Taxation and social security

 

138,740

93,646

Other creditors

 

3,784

3,784

Accruals and deferred income

 

5,035

4,771

 

521,197

473,961

 

P R Weldhen Plant Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

136,765

256,896

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank borrowings

-

7,500

Hire purchase contracts

254,930

244,285

254,930

251,785

2022
£

2021
£

Loans and borrowings due after one year

Bank borrowings

-

42,500

HP and finance lease liabilities

136,765

214,396

136,765

256,896

The assets and liabilities of the company are secured by the bank under a fixed and floating charge that covers all the property or undertaking of the company.

9

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1