Caseware UK (AP4) 2022.0.179 2022.0.179 falsetrue2022-05-013834falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01006015 2022-05-01 2023-04-30 01006015 2023-04-30 01006015 2021-05-01 2022-04-30 01006015 2022-04-30 01006015 c:Director2 2022-05-01 2023-04-30 01006015 d:Buildings 2022-05-01 2023-04-30 01006015 d:Buildings 2023-04-30 01006015 d:Buildings 2022-04-30 01006015 d:Buildings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01006015 d:Buildings d:ShortLeaseholdAssets 2022-05-01 2023-04-30 01006015 d:Buildings d:ShortLeaseholdAssets 2023-04-30 01006015 d:Buildings d:ShortLeaseholdAssets 2022-04-30 01006015 d:PlantMachinery 2022-05-01 2023-04-30 01006015 d:PlantMachinery 2023-04-30 01006015 d:PlantMachinery 2022-04-30 01006015 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01006015 d:MotorVehicles 2022-05-01 2023-04-30 01006015 d:MotorVehicles 2023-04-30 01006015 d:MotorVehicles 2022-04-30 01006015 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01006015 d:OfficeEquipment 2022-05-01 2023-04-30 01006015 d:OfficeEquipment 2023-04-30 01006015 d:OfficeEquipment 2022-04-30 01006015 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01006015 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 01006015 d:FreeholdInvestmentProperty 2023-04-30 01006015 d:FreeholdInvestmentProperty 2022-04-30 01006015 d:CurrentFinancialInstruments 2023-04-30 01006015 d:CurrentFinancialInstruments 2022-04-30 01006015 d:Non-currentFinancialInstruments 2023-04-30 01006015 d:Non-currentFinancialInstruments 2022-04-30 01006015 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01006015 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 01006015 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 01006015 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 01006015 d:ShareCapital 2023-04-30 01006015 d:ShareCapital 2022-04-30 01006015 d:CapitalRedemptionReserve 2023-04-30 01006015 d:CapitalRedemptionReserve 2022-04-30 01006015 d:RetainedEarningsAccumulatedLosses 2023-04-30 01006015 d:RetainedEarningsAccumulatedLosses 2022-04-30 01006015 c:FRS102 2022-05-01 2023-04-30 01006015 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 01006015 c:FullAccounts 2022-05-01 2023-04-30 01006015 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 01006015 2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure
Registered number: 01006015













Ward Bros. (Plant Hire) Limited

Financial statements
Information for filing with the registrar

30 April 2023




 
Ward Bros. (Plant Hire) Limited


Balance sheet
At 30 April 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,208,858
3,605,860

Investment property
 5 
214,745
214,745

  
4,423,603
3,820,605

Current assets
  

Stocks
  
250,670
89,050

Debtors: amounts falling due within one year
 6 
2,292,735
1,644,627

Cash at bank and in hand
  
413,621
494,927

  
2,957,026
2,228,604

Creditors: amounts falling due within one year
 7 
(1,531,546)
(1,241,375)

Net current assets
  
 
 
1,425,480
 
 
987,229

Total assets less current liabilities
  
5,849,083
4,807,834

Creditors: amounts falling due after more than one year
 8 
(508,592)
(683,902)

Provisions for liabilities
  

Deferred tax
  
(851,965)
(692,190)

  
 
 
(851,965)
 
 
(692,190)

Net assets
  
4,488,526
3,431,742


Capital and reserves
  

Called up share capital 
  
60,953
60,953

Capital redemption reserve
  
39,047
39,047

Profit and loss account
  
4,388,526
3,331,742

Shareholders' funds
  
4,488,526
3,431,742


Page 1

 
Ward Bros. (Plant Hire) Limited

    
Balance sheet (continued)
At 30 April 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 November 2023.




JS Ward
Director

Company registered number: 01006015
The notes on pages 3 to 8 form part of these financial statements. 

Page 2

 
Ward Bros. (Plant Hire) Limited
 
 

Notes to the financial statements
Year ended 30 April 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 Thistle Road, Littleburn Industrial Estate, Langley Moor, Durham, DH7 8HZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

 
2.3

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
Ward Bros. (Plant Hire) Limited
 

 
Notes to the financial statements
Year ended 30 April 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Site development costs
-
20% straight line
Plant and machinery
-
6% straight line
Motor vehicles
-
20% straight line
Office equipment
-
15%/20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
Ward Bros. (Plant Hire) Limited
 

 
Notes to the financial statements
Year ended 30 April 2023

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers or the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Stocks

Stock is valued as follows:-
Fuel - lower of cost and net realisable value
Tyres - at directors' estimated value, being the lower of cost and net realisable value.
Spare parts - at the lower of cost and net realisable value after making due allowance for obsolete stocks.

 
2.9

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

 
2.10

Financial instruments

Basic financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


3.


Employees

The average monthly number of employees, including directors, during the year was 38 (2022 - 34).

Page 5

 
Ward Bros. (Plant Hire) Limited
 
 

Notes to the financial statements
Year ended 30 April 2023

4.


Tangible fixed assets





Freehold property
Site dev/ment costs
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 May 2022
1,487,342
869,828
4,785,715
164,549
265,101
7,572,535


Additions
-
-
976,840
12,083
3,261
992,184


Disposals
-
-
(34,500)
(7,195)
-
(41,695)



At 30 April 2023

1,487,342
869,828
5,728,055
169,437
268,362
8,523,024



Depreciation


At 1 May 2022
1,084,963
858,652
1,687,044
100,474
235,542
3,966,675


Charge for the year
14,732
3,254
318,227
18,829
9,227
364,269


Disposals
-
-
(9,583)
(7,195)
-
(16,778)



At 30 April 2023

1,099,695
861,906
1,995,688
112,108
244,769
4,314,166



Net book value



At 30 April 2023
387,647
7,922
3,732,367
57,329
23,593
4,208,858



At 30 April 2022
402,379
11,176
3,098,671
64,075
29,559
3,605,860


5.


Investment property


Freehold investment property

£



Valuation


At 1 May 2022
214,745



At 30 April 2023
214,745

The 2023 valuations were made by the directors, on an open market value for existing use basis.




Page 6

 
Ward Bros. (Plant Hire) Limited
 
 

Notes to the financial statements
Year ended 30 April 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,548,304
1,476,323

Other debtors
490,167
57,796

Prepayments and accrued income
254,264
110,508

2,292,735
1,644,627



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
18,000
18,000

Trade creditors
445,589
468,987

Amounts owed to related parties
53,225
103,685

Corporation tax
208,184
25,203

Other taxation and social security
180,114
141,880

Obligations under hire purchase contracts
415,001
362,889

Other creditors
55,642
27,441

Accruals and deferred income
155,791
93,290

1,531,546
1,241,375


The following liabilities were secured:

2023
2022
£
£



Bank loans
18,000
18,000

Obligations under hire purchase contracts
415,001
362,889

433,001
380,889

Details of security provided:

The bank loan is secured by a fixed charge over the land included in investment properties. The hire purchase agreements are secured on the assets to which they relate.

Page 7

 
Ward Bros. (Plant Hire) Limited
 
 

Notes to the financial statements
Year ended 30 April 2023

8.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
120,387
139,410

Net obligations under hire purchase contracts
388,205
544,492

508,592
683,902


The following liabilities were secured:

2023
2022
£
£



Bank loans
120,387
139,410

Net obligations under hire purrchase contracts
388,205
544,492

508,592
683,902

Details of security provided:

The bank loan is secured by a fixed charge over the land included in investment properties. The hire purchase agreements are secured on the assets to which they relate


9.


Related party transactions

During the year an inter company account was operated between the company and Ward Bros (Durham) Limited to record normal trading transactions. At the year end the amount due to Ward Bros (Durham) Limited was £53,225 (2022 - £103,685).

 
Page 8