Company registration number 05495562 (England and Wales)
M Wilson (Plant) Limited
Unaudited
financial statements
for the year ended 30 June 2023
PAGES FOR FILING WITH REGISTRAR
M Wilson (Plant) Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
M Wilson (Plant) Limited
Statement Of Financial Position
as at 30 June 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
142,546
165,116
Current assets
Debtors
4,291
15,777
Cash at bank and in hand
14,033
8,354
18,324
24,131
Creditors: amounts falling due within one year
(72,436)
(63,672)
Net current liabilities
(54,112)
(39,541)
Total assets less current liabilities
88,434
125,575
Creditors: amounts falling due after more than one year
(35,701)
(47,966)
Provisions for liabilities
4
(27,084)
(31,372)
Net assets
25,649
46,237
Capital and reserves
Called up share capital
20
20
Profit and loss reserves
25,629
46,217
Total equity
25,649
46,237
M Wilson (Plant) Limited
Statement Of Financial Position (continued)
as at 30 June 2023
30 June 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 February 2024 and are signed on its behalf by:
J Wilson
Director
Company Registration No. 05495562
M Wilson (Plant) Limited
Notes to the Financial Statements
for the year ended 30 June 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised on the supply of goods and services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Fixtures and fittings
33% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised on all timing differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computations of taxable profits. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on tax rates that have been enacted or substantively enacted by the end of the reporting period.
Leases
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
M Wilson (Plant) Limited
Notes to the Financial Statements (continued)
for the year ended 30 June 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2022
72,362
27,306
134,458
234,126
Additions
4,895
36,551
41,446
Disposals
(26,495)
(26,495)
At 30 June 2023
77,257
27,306
144,514
249,077
Depreciation and impairment
At 1 July 2022
19,558
4,478
44,974
69,010
Depreciation charged in the year
13,761
8,330
27,021
49,112
Eliminated in respect of disposals
(11,591)
(11,591)
At 30 June 2023
33,319
12,808
60,404
106,531
Carrying amount
At 30 June 2023
43,938
14,498
84,110
142,546
At 30 June 2022
52,804
22,828
89,484
165,116
4
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
27,084
31,372
5
Company information
M Wilson (Plant) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stonebrook, Church Street, Well, Bedale, North Yorkshire, DL8 2QA.