22 false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05576711 2022-06-01 2023-05-31 05576711 2023-05-31 05576711 2022-05-31 05576711 2021-06-01 2022-05-31 05576711 2022-05-31 05576711 core:FurnitureFittings 2022-06-01 2023-05-31 05576711 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 05576711 bus:Director1 2022-06-01 2023-05-31 05576711 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-31 05576711 core:PlantMachinery 2022-05-31 05576711 core:FurnitureFittings 2022-05-31 05576711 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 05576711 core:PlantMachinery 2023-05-31 05576711 core:FurnitureFittings 2023-05-31 05576711 core:PlantMachinery 2022-06-01 2023-05-31 05576711 core:WithinOneYear 2023-05-31 05576711 core:WithinOneYear 2022-05-31 05576711 core:AfterOneYear 2023-05-31 05576711 core:AfterOneYear 2022-05-31 05576711 core:ShareCapital 2023-05-31 05576711 core:ShareCapital 2022-05-31 05576711 core:RetainedEarningsAccumulatedLosses 2023-05-31 05576711 core:RetainedEarningsAccumulatedLosses 2022-05-31 05576711 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-31 05576711 core:PlantMachinery 2022-05-31 05576711 core:FurnitureFittings 2022-05-31 05576711 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-05-31 05576711 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-05-31 05576711 bus:SmallEntities 2022-06-01 2023-05-31 05576711 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 05576711 bus:FullAccounts 2022-06-01 2023-05-31 05576711 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 05576711 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05576711 bus:OrdinaryShareClass1 2023-05-31 05576711 bus:OrdinaryShareClass1 2022-05-31
COMPANY REGISTRATION NUMBER: 05576711
Transport and Plant Control Limited
Filleted Unaudited Financial Statements
31 May 2023
Transport and Plant Control Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
4,389,831
3,427,956
Current assets
Debtors
6
545,606
431,987
Cash at bank and in hand
50,925
171,968
---------
---------
596,531
603,955
Creditors: amounts falling due within one year
7
1,449,607
1,070,774
------------
------------
Net current liabilities
853,076
466,819
------------
------------
Total assets less current liabilities
3,536,755
2,961,137
Creditors: amounts falling due after more than one year
8
626,874
619,451
Provisions
507,847
295,596
------------
------------
Net assets
2,402,034
2,046,090
------------
------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
2,401,934
2,045,990
------------
------------
Shareholders funds
2,402,034
2,046,090
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Transport and Plant Control Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 13 November 2023 , and are signed on behalf of the board by:
Mr JC Mathias
Director
Company registration number: 05576711
Transport and Plant Control Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Parcau Isaf Farm, Laleston, Bridgend, CF32 0NB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% and 12.5% straight line
Fixtures and fittings
-
20% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2022: 22 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 June 2022
125,000
7,683,368
79,010
7,887,378
Additions
2,194,212
24,375
2,218,587
Disposals
( 633,833)
( 633,833)
---------
------------
---------
------------
At 31 May 2023
125,000
9,243,747
103,385
9,472,132
---------
------------
---------
------------
Depreciation
At 1 June 2022
4,402,542
56,880
4,459,422
Charge for the year
1,171,293
9,005
1,180,298
Disposals
( 557,419)
( 557,419)
---------
------------
---------
------------
At 31 May 2023
5,016,416
65,885
5,082,301
---------
------------
---------
------------
Carrying amount
At 31 May 2023
125,000
4,227,331
37,500
4,389,831
---------
------------
---------
------------
At 31 May 2022
125,000
3,280,826
22,130
3,427,956
---------
------------
---------
------------
The investment properties were valued on an open market basis on 12 September 2023 by the director.
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
£
At 31 May 2023
1,458,894
------------
At 31 May 2022
1,088,878
------------
6. Debtors
2023
2022
£
£
Trade debtors
519,191
345,652
Other debtors
26,415
86,335
---------
---------
545,606
431,987
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,702
9,702
Trade creditors
162,928
62,522
Social security and other taxes
9,792
32,961
Other creditors
1,267,185
965,589
------------
------------
1,449,607
1,070,774
------------
------------
The finance leases and hire purchase contracts are secured on the assets concerned.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,705
32,407
Other creditors
604,169
587,044
---------
---------
626,874
619,451
---------
---------
The finance leases and hire purchase contracts are secured on the assets concerned.
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----