Company Registration No. 11146047 (England and Wales)
Duchy Plant Hire Ltd
Unaudited accounts
for the year ended 31 December 2022
Duchy Plant Hire Ltd
Unaudited accounts
Contents
Duchy Plant Hire Ltd
Company Information
for the year ended 31 December 2022
Director
James Edward Shelton
Company Number
11146047 (England and Wales)
Registered Office
Duchy House
Drinnick Yard
Nanpean
Cornwall
PL26 7YN
Duchy Plant Hire Ltd
Statement of financial position
as at 31 December 2022
Tangible assets
15,221,434
9,920,686
Inventories
259,854
285,890
Cash at bank and in hand
130,188
15,968
Creditors: amounts falling due within one year
(2,488,897)
(1,570,731)
Net current liabilities
(604,896)
(514,404)
Total assets less current liabilities
14,616,538
9,406,282
Creditors: amounts falling due after more than one year
(9,812,981)
(7,774,582)
Net assets
4,803,557
1,631,700
Called up share capital
3,000,000
1,000,000
Profit and loss account
1,803,557
631,700
Shareholders' funds
4,803,557
1,631,700
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2023 and were signed on its behalf by
James Edward Shelton
Director
Company Registration No. 11146047
Duchy Plant Hire Ltd
Notes to the Accounts
for the year ended 31 December 2022
Duchy Plant Hire Ltd is a private company, limited by shares, registered in England and Wales, registration number 11146047. The registered office is Duchy House, Drinnick Yard, Nanpean, Cornwall, PL26 7YN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10 -20 Years, asset dependent
Plant & machinery
5 - 10 Years, asset dependent
Fixtures & fittings
3 Years
Computer equipment
3 Years
Other tangible fixed assets
10 -20 Years, asset dependent
Duchy Plant Hire Ltd
Notes to the Accounts
for the year ended 31 December 2022
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2022
-
10,205,193
-
5,113
10,210,306
Additions
177,083
19,973,354
18,863
5,291
20,174,591
Disposals
-
(14,136,778)
-
-
(14,136,778)
At 31 December 2022
177,083
16,041,769
18,863
10,404
16,248,119
At 1 January 2022
-
288,916
-
704
289,620
Charge for the year
4,092
729,584
479
2,910
737,065
At 31 December 2022
4,092
1,018,500
479
3,614
1,026,685
At 31 December 2022
172,991
15,023,269
18,384
6,790
15,221,434
At 31 December 2021
-
9,916,277
-
4,409
9,920,686
Raw materials
22,353
2,761
Work in progress
237,501
283,129
Raws materials are products held for resale. Work in progress represents work undertaken, or services provided, where the project remained unfinished at the accounting reference date.
Amounts falling due within one year
Trade debtors
389,493
515,403
Other debtors
115,002
70,612
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
10,648
10,648
Obligations under finance leases and hire purchase contracts
1,914,457
1,043,879
Trade creditors
192,591
87,812
Taxes and social security
36,587
40,075
Other creditors
79,095
288,982
Loans from directors
75,000
-
Duchy Plant Hire Ltd
Notes to the Accounts
for the year ended 31 December 2022
8
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
9,110,489
7,142,133
Amounts owed to group undertakings and other participating interests
-
25,000
Other creditors
380,000
272,500
Loans from directors
300,000
301,809
Allotted, called up and fully paid:
3,000,000 Ordinary shares of £1 each
3,000,000
1,000,000
Shares issued during the period:
2,000,000 Ordinary shares of £1 each
2,000,000
10
Average number of employees
During the year the average number of employees was 38 (2021: 22).