JOHN HORTON PLANT HIRE LIMITED

Company Registration Number:
06064573 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2023

Period of accounts

Start date: 1 February 2022

End date: 31 January 2023

JOHN HORTON PLANT HIRE LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2023

Balance sheet
Additional notes
Balance sheet notes

JOHN HORTON PLANT HIRE LIMITED

Balance sheet

As at 31 January 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 223,445 219,504
Total fixed assets: 223,445 219,504
Current assets
Debtors: 4 144,553 177,321
Cash at bank and in hand: 43,074 24,178
Total current assets: 187,627 201,499
Creditors: amounts falling due within one year: 5 ( 155,014 ) ( 207,607 )
Net current assets (liabilities): 32,613 (6,108)
Total assets less current liabilities: 256,058 213,396
Creditors: amounts falling due after more than one year: 6 ( 64,164 ) ( 69,435 )
Provision for liabilities: ( 42,455 ) ( 41,706 )
Total net assets (liabilities): 149,439 102,255
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 149,339 102,155
Total Shareholders' funds: 149,439 102,255

The notes form part of these financial statements

JOHN HORTON PLANT HIRE LIMITED

Balance sheet statements

For the year ending 31 January 2023 the company was entitled to exemption 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 directors acknowledge their 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 24 October 2023
and signed on behalf of the board by:

Name: W J Horton
Status: Director

The notes form part of these financial statements

JOHN HORTON PLANT HIRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 sales/value added tax, returns, rebates and discounts. 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.

    Tangible fixed assets depreciation policy

    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:Plant and machinery 25% per annum reducing balance

    Other accounting policies

    Cash and cash equivalentsCash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.Trade debtorsTrade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.Trade creditorsTrade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.BorrowingsInterest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.LeasesLeases 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.Share capitalOrdinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.DividendsDividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.Defined contribution pension obligationA defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

JOHN HORTON PLANT HIRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 11 11

JOHN HORTON PLANT HIRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2022 659,596 659,596
Additions 70,450 70,450
Disposals ( 40,250 ) ( 40,250 )
Revaluations
Transfers
At 31 January 2023 689,796 689,796
Depreciation
At 1 February 2022 440,092 440,092
Charge for year 61,928 61,928
On disposals ( 35,669 ) ( 35,669 )
Other adjustments
At 31 January 2023 466,351 466,351
Net book value
At 31 January 2023 223,445 223,445
At 31 January 2022 219,504 219,504

JOHN HORTON PLANT HIRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

4. Debtors

2023 2022
£ £
Trade debtors 126,607 166,958
Other debtors 17,946 10,363
Total 144,553 177,321

JOHN HORTON PLANT HIRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 46,690 65,665
Trade creditors 52,735 74,573
Taxation and social security 34,993 47,760
Accruals and deferred income 12,959 12,250
Other creditors 7,637 7,359
Total 155,014 207,607

JOHN HORTON PLANT HIRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 64,164 69,435
Total 64,164 69,435