Company registration number 12487194 (England and Wales)
Mildec Plant Hire Ltd
Unaudited
financial statements
for the year ended 30 April 2023
PAGES FOR FILING WITH REGISTRAR
Mildec Plant Hire Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Mildec Plant Hire Ltd
Statement of financial position
as at 30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
24,291
31,202
Current assets
Debtors
5
1,094
2,103
Cash at bank and in hand
849
3,861
1,943
5,964
Creditors: amounts falling due within one year
6
(7,000)
(22,461)
Net current liabilities
(5,057)
(16,497)
Total assets less current liabilities
19,234
14,705
Provisions for liabilities
7
(4,615)
(5,928)
Net assets
14,619
8,777
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
14,618
8,776
Total equity
14,619
8,777

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 15 September 2023
M Cusack
Director
Company Registration No. 12487194
Mildec Plant Hire Ltd
Notes to the financial statements
for the year ended 30 April 2023
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the fair value of the consideration received for goods provided in the normal course of business, and is shown net of VAT.

 

Turnover is recognised upon the provision of goods and services.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% Reducing balance
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Mildec Plant Hire Ltd
Notes to the financial statements (continued)
for the year ended 30 April 2023
- 3 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and equipment
£
Cost
At 1 May 2022
37,682
Disposals
(2,658)
At 30 April 2023
35,024
Depreciation and impairment
At 1 May 2022
6,480
Depreciation charged in the year
4,286
Eliminated in respect of disposals
(33)
At 30 April 2023
10,733
Carrying amount
At 30 April 2023
24,291
At 30 April 2022
31,202
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
864
864
VAT Recoverable
230
1,239
1,094
2,103
Mildec Plant Hire Ltd
Notes to the financial statements (continued)
for the year ended 30 April 2023
- 4 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
79
Amounts due to connected companies
6,000
21,382
Accruals and deferred income
1,000
1,000
7,000
22,461
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
4,615
5,928
8
Company information

Mildec Plant Hire Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6 Crown Yard, Southgate, Elland, West Yorkshire, HX5 0DQ.

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