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REGISTERED NUMBER: 06237482 (England and Wales)





Ward Plane Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






Ward Plane Limited (Registered number: 06237482)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ward Plane Limited

Company Information
for the year ended 31 May 2023







DIRECTORS: M W Ward
P R Ward





REGISTERED OFFICE: Aire Valley Business Centre
Lawkholme Lane
Keighley
West Yorkshire
BD21 3BB





REGISTERED NUMBER: 06237482 (England and Wales)





ACCOUNTANTS: Simon Hart FCCA
Hart Wright Accounting
Chartered Certified Accountants
24 Hall Drive
Sutton In Craven
North Yorkshire
BD20 7NH

Ward Plane Limited (Registered number: 06237482)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,938,544 3,493,589

CURRENT ASSETS
Debtors 5 425,480 736,715
Cash at bank 249,171 299,138
674,651 1,035,853
CREDITORS
Amounts falling due within one year 6 (720,391 ) (812,672 )
NET CURRENT (LIABILITIES)/ASSETS (45,740 ) 223,181
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,892,804

3,716,770

CREDITORS
Amounts falling due after more than one
year

7

(1,214,485

)

(991,643

)
NET ASSETS 2,678,319 2,725,127

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,677,319 2,724,127
SHAREHOLDERS' FUNDS 2,678,319 2,725,127

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

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

Ward Plane Limited (Registered number: 06237482)

Statement of Financial Position - continued
31 May 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 5 February 2024 and were signed on its behalf by:





P R Ward - Director


Ward Plane Limited (Registered number: 06237482)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Ward Plane Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 services provided, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - at varying rates on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire obligation is treated in the balance sheet as a liability. The interest element of rental obligations ia charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Ward Plane Limited (Registered number: 06237482)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Government grant
Grants from the government are recognised as a receivable at their fair value when there is a reasonable assurance that the grant will be received and the company will comply with all the attached conditions.

Government grants receivable are recognised as income over the periods necessary to match them with the related costs which they are intended to compensate, on a systematic basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 350,000 4,903,737 5,253,737
Additions 405,000 1,051,938 1,456,938
Disposals - (1,022,370 ) (1,022,370 )
At 31 May 2023 755,000 4,933,305 5,688,305
DEPRECIATION
At 1 June 2022 - 1,760,148 1,760,148
Charge for year - 600,330 600,330
Eliminated on disposal - (610,717 ) (610,717 )
At 31 May 2023 - 1,749,761 1,749,761
NET BOOK VALUE
At 31 May 2023 755,000 3,183,544 3,938,544
At 31 May 2022 350,000 3,143,589 3,493,589

Included in fixed assets are capitalised finance leases with a net book value of £3,221,907 (Prior year £3,082,089).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 386,175 697,861
Other debtors 39,305 38,854
425,480 736,715

Ward Plane Limited (Registered number: 06237482)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2 -
Hire purchase contracts and finance leases 475,426 552,273
Payments on account - 720
Trade creditors 116,111 138,748
Taxation and social security 126,482 117,807
Other creditors 2,370 3,124
720,391 812,672

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts and finance leases 1,214,485 991,643

8. CONTINGENT LIABILITIES

LLoyds TSB Bank Finance Limited holds a fixed and floating charge over all current and future assets of the company dated 11th April 2016.