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REGISTERED NUMBER: 02198248 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

M Walsh Plant Hire Limited

M Walsh Plant Hire Limited (Registered number: 02198248)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


M Walsh Plant Hire Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M Walsh
H Walsh
D Walsh





SECRETARY: Mrs. H Walsh





REGISTERED OFFICE: Willow Tree Farm
Breakspear Road
Harefield
Middlesex
UB9 6LZ





REGISTERED NUMBER: 02198248 (England and Wales)

M Walsh Plant Hire Limited (Registered number: 02198248)

Abridged Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 529,256 675,181
Investment property 5 37,000 37,000
566,256 712,181

CURRENT ASSETS
Debtors 333,981 300,358
Cash at bank 2,375,235 1,979,804
2,709,216 2,280,162
CREDITORS
Amounts falling due within one year 246,975 252,206
NET CURRENT ASSETS 2,462,241 2,027,956
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,028,497

2,740,137

PROVISIONS FOR LIABILITIES 112,455 126,924
NET ASSETS 2,916,042 2,613,213

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 (75,500 ) (75,500 )
Retained earnings 2,991,442 2,688,613
SHAREHOLDERS' FUNDS 2,916,042 2,613,213

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

M Walsh Plant Hire Limited (Registered number: 02198248)

Abridged Balance Sheet - continued
31 August 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 November 2023 and were signed on its behalf by:





M Walsh - Director


M Walsh Plant Hire Limited (Registered number: 02198248)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

M Walsh Plant Hire Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced work done, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

M Walsh Plant Hire Limited (Registered number: 02198248)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 2,065,068
Additions 131,291
Disposals (392,491 )
At 31 August 2023 1,803,868
DEPRECIATION
At 1 September 2022 1,389,887
Charge for year 176,249
Eliminated on disposal (291,524 )
At 31 August 2023 1,274,612
NET BOOK VALUE
At 31 August 2023 529,256
At 31 August 2022 675,181

M Walsh Plant Hire Limited (Registered number: 02198248)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 September 2022 455,000
Additions 68,500
Transfer to ownership (455,000 )
At 31 August 2023 68,500
DEPRECIATION
At 1 September 2022 158,925
Charge for year 17,125
Transfer to ownership (158,925 )
At 31 August 2023 17,125
NET BOOK VALUE
At 31 August 2023 51,375
At 31 August 2022 296,075

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 37,000
NET BOOK VALUE
At 31 August 2023 37,000
At 31 August 2022 37,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2015 (75,500 )
Cost 112,500
37,000

If investment property had not been revalued it would have been included at the following historical cost:

31.8.23 31.8.22
£    £   
Cost 112,500 112,500

Investment property was valued on an open market basis on 31 August 2023 by the directors .

M Walsh Plant Hire Limited (Registered number: 02198248)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. RESERVES
Fair
value
reserve
£   
At 1 September 2022
and 31 August 2023 (75,500 )

7. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £170,013 (2022 - £170,013) from Walsh Properties Limited and it is included within debtors within these financial statements. No interest was accruing on the outstanding amount and no repayment terms have been agreed as at the balance sheet date.

8. ULTIMATE CONTROLLING PARTY

The controlling parties are M Walsh and H Walsh.