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REGISTERED NUMBER: 12258282 (England and Wales)














HARKMAC PLANT HIRE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






HARKMAC PLANT HIRE LTD (REGISTERED NUMBER: 12258282)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HARKMAC PLANT HIRE LTD

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: F H Harkin
D P D McElroy





REGISTERED OFFICE: 5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE





REGISTERED NUMBER: 12258282 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

HARKMAC PLANT HIRE LTD (REGISTERED NUMBER: 12258282)

STATEMENT OF FINANCIAL POSITION
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,642,504 892,300

CURRENT ASSETS
Debtors 6 203,000 164,030
Cash at bank - 2,986
203,000 167,016
CREDITORS
Amounts falling due within one year 7 729,326 423,076
NET CURRENT LIABILITIES (526,326 ) (256,060 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,116,178

636,240

CREDITORS
Amounts falling due after more than one
year

8

(917,470

)

(625,302

)

PROVISIONS FOR LIABILITIES (35,676 ) -
NET ASSETS 163,032 10,938

CAPITAL AND RESERVES
Called up, paid and allotted share capital 100 100
Retained earnings 162,932 10,838
SHAREHOLDERS' FUNDS 163,032 10,938

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HARKMAC PLANT HIRE LTD (REGISTERED NUMBER: 12258282)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:




D P D McElroy - Director



F H Harkin - Director


HARKMAC PLANT HIRE LTD (REGISTERED NUMBER: 12258282)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Harkmac Plant Hire ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Income is recognised when goods/services have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

HARKMAC PLANT HIRE LTD (REGISTERED NUMBER: 12258282)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 752,044 364,762 1,116,806
Additions 871,018 143,060 1,014,078
At 31 March 2023 1,623,062 507,822 2,130,884
DEPRECIATION
At 1 April 2022 107,078 117,428 224,506
Charge for year 162,309 101,565 263,874
At 31 March 2023 269,387 218,993 488,380
NET BOOK VALUE
At 31 March 2023 1,353,675 288,829 1,642,504
At 31 March 2022 644,966 247,334 892,300

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 203,000 164,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,319 9,700
Hire purchase contracts 559,571 308,565
Trade creditors 691 -
Other creditors 158,745 104,811
729,326 423,076

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,500 33,192
Hire purchase contracts 894,970 592,110
917,470 625,302

HARKMAC PLANT HIRE LTD (REGISTERED NUMBER: 12258282)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire Purchase 63,888 -

The above debt is secured by way of a deed of assignment dated 21 April 2022.