Caseware UK (AP4) 2023.0.135 2023.0.135 true72022-08-01falseThe principal activity of the company is the rental and leasing of construction and civil engineering machinery and equipment.6trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08268464 2022-08-01 2023-07-31 08268464 2021-08-01 2022-07-31 08268464 2023-07-31 08268464 2022-07-31 08268464 c:Director1 2022-08-01 2023-07-31 08268464 d:Buildings 2022-08-01 2023-07-31 08268464 d:PlantMachinery 2022-08-01 2023-07-31 08268464 d:PlantMachinery 2023-07-31 08268464 d:PlantMachinery 2022-07-31 08268464 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08268464 d:MotorVehicles 2022-08-01 2023-07-31 08268464 d:MotorVehicles 2023-07-31 08268464 d:MotorVehicles 2022-07-31 08268464 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08268464 d:FurnitureFittings 2022-08-01 2023-07-31 08268464 d:OfficeEquipment 2022-08-01 2023-07-31 08268464 d:OfficeEquipment 2023-07-31 08268464 d:OfficeEquipment 2022-07-31 08268464 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08268464 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08268464 d:Goodwill 2022-08-01 2023-07-31 08268464 d:Goodwill 2023-07-31 08268464 d:Goodwill 2022-07-31 08268464 d:CurrentFinancialInstruments 2023-07-31 08268464 d:CurrentFinancialInstruments 2022-07-31 08268464 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08268464 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 08268464 d:ShareCapital 2023-07-31 08268464 d:ShareCapital 2022-07-31 08268464 d:RetainedEarningsAccumulatedLosses 2023-07-31 08268464 d:RetainedEarningsAccumulatedLosses 2022-07-31 08268464 c:FRS102 2022-08-01 2023-07-31 08268464 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 08268464 c:FullAccounts 2022-08-01 2023-07-31 08268464 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08268464 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 08268464 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 08268464 d:TaxLossesCarry-forwardsDeferredTax 2023-07-31 08268464 d:TaxLossesCarry-forwardsDeferredTax 2022-07-31 08268464 d:OtherDeferredTax 2023-07-31 08268464 d:OtherDeferredTax 2022-07-31 08268464 2 2022-08-01 2023-07-31 08268464 d:Goodwill d:OwnedIntangibleAssets 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 08268464










Kenward Plant Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2023

 
Kenward Plant Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Kenward Plant Limited for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kenward Plant Limited for the year ended 31 July 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Kenward Plant Limited in accordance with the terms of our engagement letter dated 6 October 2023Our work has been undertaken solely to prepare for your approval the financial statements of Kenward Plant Limited  and state those matters that we have agreed to state to the director of Kenward Plant Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kenward Plant Limited and its director for our work or for this report. 

It is your duty to ensure that Kenward Plant Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kenward Plant Limited. You consider that Kenward Plant Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Kenward Plant Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
2 February 2024
Page 1

 
Kenward Plant Limited
Registered number: 08268464

Balance Sheet
As at 31 July 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
7,333

Tangible assets
 5 
1,170,690
954,538

  
1,170,690
961,871

Current assets
  

Stocks
  
4,804
4,645

Debtors: amounts falling due within one year
 6 
169,911
49,459

Cash at bank and in hand
  
18,616
284,622

  
193,331
338,726

Creditors: amounts falling due within one year
 7 
(60,549)
(67,560)

Net current assets
  
 
 
132,782
 
 
271,166

Total assets less current liabilities
  
1,303,472
1,233,037

Provisions for liabilities
  

Deferred tax
 8 
(253,257)
(196,229)

  
 
 
(253,257)
 
 
(196,229)

Net assets
  
1,050,215
1,036,808


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
1,050,213
1,036,806

  
1,050,215
1,036,808


Page 2

 
Kenward Plant Limited
Registered number: 08268464

Balance Sheet (continued)
As at 31 July 2023

The director considers 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 director acknowledges his 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 income and retained earnings 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: 




................................................
N C Kenward
Director
Date: 2 February 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
Kenward Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

1.


General information

The company is a private company, limited by share capital, and incorporated in England and Wales. The address of its registered office is: Eastwood Farm Rusper Road, Newdigate, Dorking, Surrey, RH5 5BX.

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 financial statements have been presented in £ Sterling and rounded to the nearest £1.

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 Company and the revenue can be reliably measured. Revenue is measured as the fair value consideration received or receivable, excluding discounts, rebates, value added tax and other 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 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 costs incurred can be measured reliably.

 
2.3

Interest income

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

Page 4

 
Kenward Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

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.

 
2.6

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.

 
2.7

Intangible assets

Goodwill 
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of income and retained earnings over its useful economic life. 

 The estimated useful lives range as follows:

Goodwill
-
10
years 

Page 5

 
Kenward Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

2.Accounting policies (continued)

 
2.8

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, on a reducing balance or straight line basis.

The estimated useful lives range as follows:

Freehold property
-
300 months straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

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.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.11

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.

 
2.12

Creditors

Short-term creditors are measured at the transaction price.

 
2.13

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.

Page 6

 
Kenward Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 7).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
200,000



At 31 July 2023

200,000



Amortisation


At 1 August 2022
192,667


Charge for the year on owned assets
7,333



At 31 July 2023

200,000



Net book value



At 31 July 2023
-



At 31 July 2022
7,333



Page 7

 
Kenward Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2022
1,694,483
727,512
-
2,421,995


Additions
406,158
133,745
610
540,513


Disposals
(21,500)
(8,000)
-
(29,500)



At 31 July 2023

2,079,141
853,257
610
2,933,008



Depreciation


At 1 August 2022
1,041,089
426,368
-
1,467,457


Charge for the year on owned assets
226,436
87,850
13
314,299


Disposals
(19,438)
-
-
(19,438)



At 31 July 2023

1,248,087
514,218
13
1,762,318



Net book value



At 31 July 2023
831,054
339,039
597
1,170,690



At 31 July 2022
653,394
301,144
-
954,538

Page 8

 
Kenward Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

6.


Debtors

2023
2022
£
£


Trade debtors
37,322
38,943

Amounts owed by other participating interests
101,660
-

Other debtors
7,672
-

Prepayments and accrued income
23,257
10,516

169,911
49,459



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
29,163
18,727

Amounts owed to other participating interests
-
7,225

Corporation tax
-
14,724

Other taxation and social security
24,915
21,068

Other creditors
1,796
1,316

Accruals and deferred income
4,675
4,500

60,549
67,560



8.


Deferred taxation




2023


£






At beginning of year
(196,229)


Charged to profit or loss
(57,028)



At end of year
(253,257)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(263,509)
(196,329)

Losses and other deductions
10,176
-

Short term timing differences
76
100

(253,257)
(196,229)

Page 9

 
Kenward Plant Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 July 2023

9.


Pension commitments

The company operates a defined benefit pension scheme. The assets of the scheme are held separately  from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,334 (2022 - £5,422). Contributions totalling £709 (2022 - £928) were payable to the fund at the balance sheet date and are included in creditors.


Page 10