Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01false2Renting and leasing of construction and civil engineering machinery and equipment2falsetrue 10273687 2022-04-01 2023-03-31 10273687 2021-04-01 2022-03-31 10273687 2023-03-31 10273687 2022-03-31 10273687 c:Director1 2022-04-01 2023-03-31 10273687 d:Buildings 2022-04-01 2023-03-31 10273687 d:Buildings 2023-03-31 10273687 d:Buildings 2022-03-31 10273687 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10273687 d:Buildings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10273687 d:PlantMachinery 2022-04-01 2023-03-31 10273687 d:PlantMachinery 2023-03-31 10273687 d:PlantMachinery 2022-03-31 10273687 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10273687 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10273687 d:MotorVehicles 2022-04-01 2023-03-31 10273687 d:MotorVehicles 2023-03-31 10273687 d:MotorVehicles 2022-03-31 10273687 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10273687 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10273687 d:FurnitureFittings 2022-04-01 2023-03-31 10273687 d:FurnitureFittings 2023-03-31 10273687 d:FurnitureFittings 2022-03-31 10273687 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10273687 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10273687 d:OfficeEquipment 2022-04-01 2023-03-31 10273687 d:OfficeEquipment 2023-03-31 10273687 d:OfficeEquipment 2022-03-31 10273687 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10273687 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10273687 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10273687 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 10273687 d:CurrentFinancialInstruments 2023-03-31 10273687 d:CurrentFinancialInstruments 2022-03-31 10273687 d:Non-currentFinancialInstruments 2023-03-31 10273687 d:Non-currentFinancialInstruments 2022-03-31 10273687 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10273687 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10273687 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10273687 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 10273687 d:ShareCapital 2023-03-31 10273687 d:ShareCapital 2022-03-31 10273687 d:RetainedEarningsAccumulatedLosses 2023-03-31 10273687 d:RetainedEarningsAccumulatedLosses 2022-03-31 10273687 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 10273687 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 10273687 c:FRS102 2022-04-01 2023-03-31 10273687 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10273687 c:FullAccounts 2022-04-01 2023-03-31 10273687 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10273687 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10273687 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 10273687 2 2022-04-01 2023-03-31 10273687 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 10273687 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 10273687 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 10273687 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-31 10273687 d:LeasedAssetsHeldAsLessee 2023-03-31 10273687 d:LeasedAssetsHeldAsLessee 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 10273687









FENTON PLANT HIRE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
FENTON PLANT HIRE LIMITED
REGISTERED NUMBER: 10273687

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,017,218
2,578,581

  
3,017,218
2,578,581

Current assets
  

Debtors: amounts falling due within one year
 5 
146,302
75,244

Cash at bank and in hand
 6 
203,327
95,343

  
349,629
170,587

Creditors: amounts falling due within one year
 7 
(1,153,144)
(628,477)

Net current liabilities
  
 
 
(803,515)
 
 
(457,890)

Total assets less current liabilities
  
2,213,703
2,120,691

Creditors: amounts falling due after more than one year
 8 
(477,656)
(397,599)

Provisions for liabilities
  

Deferred tax
 10 
(407,556)
(407,556)

  
 
 
(407,556)
 
 
(407,556)

Net assets
  
1,328,491
1,315,536


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,328,391
1,315,436

  
1,328,491
1,315,536


Page 1

 
FENTON PLANT HIRE LIMITED
REGISTERED NUMBER: 10273687
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 by: 




................................................
J J Fitzgerald
Director

Date: 26 November 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FENTON PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Fenton Plant Hire Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is First Floor, Radius House, 51 Clarendon Road, Watford, WD17 1HP.
The principal activity of the company is that of plant hire.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

Page 3

 
FENTON PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
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.

Page 4

 
FENTON PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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 and on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
25%
reducing balance
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
33%
straight line
Office equipment
-
33%
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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
FENTON PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 April 2022
1,216,706
2,337,779
380,743
7,464
7,851


Additions
125,829
670,959
237,765
-
-


Disposals
-
(86,500)
(13,508)
-
-



At 31 March 2023

1,342,535
2,922,238
605,000
7,464
7,851



Depreciation


At 1 April 2022
171,148
1,042,207
143,292
7,464
7,851


Charge for the year on owned assets
67,772
104,876
41,314
-
-


Charge for the year on financed assets
-
277,036
62,773
-
-


Disposals
-
(48,614)
(9,249)
-
-



At 31 March 2023

238,920
1,375,505
238,130
7,464
7,851
Page 6

 
FENTON PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           4.Tangible fixed assets (continued)




Net book value



At 31 March 2023
1,103,615
1,546,733
366,870
-
-



At 31 March 2022
1,045,558
1,295,572
237,451
-
-

Total

£



Cost or valuation


At 1 April 2022
3,950,543


Additions
1,034,553


Disposals
(100,008)



At 31 March 2023

4,885,088



Depreciation


At 1 April 2022
1,371,962


Charge for the year on owned assets
213,962


Charge for the year on financed assets
339,809


Disposals
(57,863)



At 31 March 2023

1,867,870



Net book value



At 31 March 2023
3,017,218



At 31 March 2022
2,578,581

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
1,180,804
1,140,157

Motor vehicles
186,400
113,478

1,367,204
1,253,635
Page 7

 
FENTON PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           4.Tangible fixed assets (continued)



5.


Debtors

2023
2022
£
£


Trade debtors
3,000
19,664

Other debtors
143,302
55,580

146,302
75,244



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
203,329
95,342

203,329
95,342



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
16,109
12,096

Obligations under finance lease and hire purchase contracts
485,389
304,340

Other creditors
651,646
312,041

1,153,144
628,477



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
477,656
397,599

477,656
397,599


Page 8

 
FENTON PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
203,329
95,342




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


10.


Deferred taxation




2023


£






At beginning of year
(407,556)



At end of year
(407,556)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(407,556)
(407,556)

(407,556)
(407,556)


11.


Related party transactions

At the balance sheet date the company owed £639,136 (2022: £304,221) to companies under common control.

 
Page 9