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REGISTERED NUMBER: 06044424 (England and Wales)






















Financial Statements

for the Year Ended 31 March 2023

for

Westholme Plant Ltd

Westholme Plant Ltd (Registered number: 06044424)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Westholme Plant Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr M J Sumner
Mrs R D Sumner





SECRETARY: Mrs R D Sumner





REGISTERED OFFICE: Foxhall Barn
Asgarby
Sleaford
Lincolnshire
NG34 9QE





REGISTERED NUMBER: 06044424 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Westholme Plant Ltd (Registered number: 06044424)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,294,952 1,193,221
1,294,952 1,193,221

CURRENT ASSETS
Stocks 6 10,000 97,927
Debtors 7 152,005 172,130
Cash at bank 157,961 165,553
319,966 435,610
CREDITORS
Amounts falling due within one year 8 621,013 511,865
NET CURRENT LIABILITIES (301,047 ) (76,255 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

993,905

1,116,966

CREDITORS
Amounts falling due after more than one year 9 (377,347 ) (439,384 )

PROVISIONS FOR LIABILITIES (157,880 ) (157,972 )
NET ASSETS 458,678 519,610

CAPITAL AND RESERVES
Called up share capital 11 120,000 120,000
Retained earnings 338,678 399,610
SHAREHOLDERS' FUNDS 458,678 519,610

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

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

Westholme Plant Ltd (Registered number: 06044424)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





Mrs R D Sumner - Director


Westholme Plant Ltd (Registered number: 06044424)

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

1. STATUTORY INFORMATION

Westholme Plant Ltd 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.

Turnover
Turnover represents net invoiced sales of plant hire contracting excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 10 - 25% on reducing balance
Equipment - 25% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance and 10% on reducing balance
Computer equipment - 33% on cost and 10% on reducing balance

No depreciation has been provided for on storage compound being the cost of freehold land and improvements to date.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Development costs regarding a claypit are shown in stocks to be written off upon supply of the clay as a cost per tonne.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Westholme Plant Ltd (Registered number: 06044424)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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 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 10 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 10,000
AMORTISATION
At 1 April 2022
and 31 March 2023 10,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 1,449,809 7,693 91,204 13,542 1,562,248
Additions 362,420 358 - 547 363,325
Disposals (178,000 ) - - - (178,000 )
At 31 March 2023 1,634,229 8,051 91,204 14,089 1,747,573
DEPRECIATION
At 1 April 2022 324,851 6,742 32,472 4,962 369,027
Charge for year 134,653 165 6,307 2,372 143,497
Eliminated on disposal (59,903 ) - - - (59,903 )
At 31 March 2023 399,601 6,907 38,779 7,334 452,621
NET BOOK VALUE
At 31 March 2023 1,234,628 1,144 52,425 6,755 1,294,952
At 31 March 2022 1,124,958 951 58,732 8,580 1,193,221

Westholme Plant Ltd (Registered number: 06044424)

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

5. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 April 2022 991,500
Additions 350,500
At 31 March 2023 1,342,000
DEPRECIATION
At 1 April 2022 141,327
Charge for year 110,942
At 31 March 2023 252,269
NET BOOK VALUE
At 31 March 2023 1,089,731
At 31 March 2022 850,173

6. STOCKS
2023 2022
£    £   
Stocks 10,000 -
Work-in-progress - 97,927
10,000 97,927

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 149,935 168,950
Other debtors 2,070 3,180
152,005 172,130

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loan and overdraft 10,648 10,648
Hire purchase contracts 320,656 250,555
Trade creditors 143,309 152,070
Taxation and social security 73,102 46,851
Other creditors 73,298 51,741
621,013 511,865

Westholme Plant Ltd (Registered number: 06044424)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loan 23,335 32,685
Hire purchase contracts 354,012 406,699
377,347 439,384

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 33,983 43,333
Hire purchase contracts 674,668 657,254
708,651 700,587

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
120,000 Ordinary £1 120,000 120,000

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M J Sumner.