Company Registration No. 09183245 (England and Wales)
Plantmachineryuk Ltd
Unaudited accounts
for the year ended 27 February 2023
Plantmachineryuk Ltd
Unaudited accounts
Contents
Plantmachineryuk Ltd
Company Information
for the year ended 27 February 2023
Director
Brian Robert Wareing
Company Number
09183245 (England and Wales)
Registered Office
Skythorns Farm
Cowling
Keighley
BD22 0LJ
Accountants
Goodbooks (Skipton) Ltd
Duke House
Duke Street
Skipton
North Yorkshire
BD23 2HQ
Plantmachineryuk Ltd
Statement of financial position
as at 27 February 2023
Tangible assets
147,865
78,721
Cash at bank and in hand
456
485
Creditors: amounts falling due within one year
(143,011)
(124,396)
Net current assets
21,583
66,693
Total assets less current liabilities
169,448
145,414
Creditors: amounts falling due after more than one year
(53,818)
(78,887)
Provisions for liabilities
Deferred tax
(28,094)
(11,000)
Called up share capital
100
100
Profit and loss account
87,436
55,427
Shareholders' funds
87,536
55,527
For the year ending 27 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2023 and were signed on its behalf by
Brian Robert Wareing
Director
Company Registration No. 09183245
Plantmachineryuk Ltd
Notes to the Accounts
for the year ended 27 February 2023
Plantmachineryuk Ltd is a private company, limited by shares, registered in England and Wales, registration number 09183245. The registered office is Skythorns Farm, Cowling, Keighley, BD22 0LJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Fixtures & fittings
33.3% straight line
Other tangible fixed assets
33.3% straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised 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 rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Plantmachineryuk Ltd
Notes to the Accounts
for the year ended 27 February 2023
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 28 February 2022
83,469
322
5,625
89,416
Additions
85,812
-
9,254
95,066
At 27 February 2023
169,281
322
14,879
184,482
At 28 February 2022
8,505
107
2,083
10,695
Charge for the year
23,470
107
2,345
25,922
At 27 February 2023
31,975
214
4,428
36,617
At 27 February 2023
137,306
108
10,451
147,865
At 27 February 2022
74,964
215
3,542
78,721
Amounts falling due within one year
Trade debtors
47,540
76,238
Amounts due from group undertakings etc.
31,066
26,492
Accrued income and prepayments
25,663
24,414
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
33,665
10,000
Obligations under finance leases and hire purchase contracts
14,352
10,817
Trade creditors
65,304
60,273
Taxes and social security
9,307
21,106
Other creditors
1,190
1,083
Creditors include loans and borrowings which are secured of £33,665 (2022 - £20,817)
Plantmachineryuk Ltd
Notes to the Accounts
for the year ended 27 February 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
31,318
46,387
Creditors include loans and borrowings which are secured of £22,500 (2022 - £42,923)
Allotted, called up and fully paid:
55 Ordinary "A" shares of £1 each
55
55
45 Ordinary "B" shares of £1 each
45
45
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free directors' loan account
26,492
4,574
-
31,066
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Average number of employees
During the year the average number of employees was 5 (2022: 4).