REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 August 2023 |
for |
M Walsh Plant Hire Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 6 | ( |
) | ( |
) |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced work done, excluding value added tax. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 September 2022 |
Additions |
Disposals | ( |
) |
At 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
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 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
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 | ( |
) |
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 |