Registered number
09813273
PH Higton Plant Hire & Agcontractors Ltd
Report and Accounts
31 March 2023
LSGK Accountants Ltd
Accountants and Business Advisors
Fiscal House
Leek
Staffordshire
ST13 5JT
PH Higton Plant Hire & Agcontractors Ltd
Registered number: 09813273
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 202,775 182,955
Current assets
Stocks 7,500 7,500
Debtors 4 121,878 67,678
Cash at bank and in hand 143 4,992
129,521 80,170
Creditors: amounts falling due within one year 5 (142,374) (84,777)
Net current liabilities (12,853) (4,607)
Total assets less current liabilities 189,922 178,348
Creditors: amounts falling due after more than one year 6 (135,849) (138,305)
Net assets 54,073 40,043
Capital and reserves
Called up share capital 100 100
Profit and loss account 53,973 39,943
Shareholders' funds 54,073 40,043
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Higton
Director
Approved by the board on 28 September 2023
PH Higton Plant Hire & Agcontractors Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 3,956 247,223 16,223 267,402
Additions - 70,170 - 70,170
At 31 March 2023 3,956 317,393 16,223 337,572
Depreciation
At 1 April 2022 - 78,566 5,881 84,447
Charge for the year - 47,765 2,585 50,350
At 31 March 2023 - 126,331 8,466 134,797
Net book value
At 31 March 2023 3,956 191,062 7,757 202,775
At 31 March 2022 3,956 168,657 10,342 182,955
4 Debtors 2023 2022
£ £
Trade debtors 13,953 15,520
Other debtors 107,925 52,158
121,878 67,678
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,567 7,567
Obligations under finance lease and hire purchase contracts 67,976 50,240
Trade creditors 4,307 626
Other taxes and social security costs 6,648 5,440
Other creditors 55,876 20,904
142,374 84,777
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,623 31,190
Obligations under finance lease and hire purchase contracts 112,226 107,115
135,849 138,305
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