Registered number: 05729281 | ||||||||
FOR THE YEAR ENDED 31 MAY 2023 | ||||||||
Prepared By: | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
F. Kelleher (Plant Hire) Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 MAY 2023 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
C Ottewill | ||||||||
REGISTERED OFFICE | ||||||||
Isleworth | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 05729281 | ||||||||
ACCOUNTANTS | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
F. Kelleher (Plant Hire) Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31 MAY 2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
F. Kelleher (Plant Hire) Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 4 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
615,421 | 603,149 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS | 232,300 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 94,733 | 226,994 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | |||||||||
Profit and loss account | 999,390 | 981,387 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
F. Kelleher (Plant Hire) Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 MAY 2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Plant and Machinery | straight line 20% | |||||||
Fixtures and Fittings | reducing balance 25% | |||||||
Equipment | reducing balance 25% | |||||||
Motor Cars | reducing balance 25% |
1c. Taxation | ||||||||
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. 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 settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
1d. Turnover | ||||||||
The turnover shown in the profit and loss account represents the value of the goods and services provided in the year, exclusive of Value added Tax. |
1e. Goodwill | ||||||||
F. Kelleher (Plant Hire) Limited | ||||||||
1f. Government Grants | ||||||||
Government grants are recognised in profit and loss in the year in which they are received. |
1g. Statutory Information | ||||||||
The company is a United Kingdom private limited company, limited by shares, incorporated and domicile in England and Wales. The company's registered number is 05729281 and registered office address is First Floor 690 Great West Road, Osterley Village, Isleworth, England, TW7 4PU. | ||||||||
These financial statements are presented in Pounds Sterling (GBP) as that is the currency in which the majority of the Company transactions are denominated. They comprise the financial statements of the Company for the year ended 31 May 2023 and are presented to the nearest pound. | ||||||||
The Company has determined that the (GBP) is its functional currency as this is the currency of the economic environment in which the Company predominantly operates. The principal activity of the Company during the year continued to be hiring heavy machine with operators to the construction industry. |
1h. Operating Leases The Company As Lessee | ||||||||
Rentals paid under operating leases are charged to the Statement of Comprehensive Income on the straight-line basis over the lease term. | ||||||||
Benefits received and receivable as incentive to sign an operating lease are recognised on the straight line basis over the lease term, unless another systematic basis is representative of the time pattern on the lessee's benefit from the use of the leased asset. |
1i. 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. | ||||||||
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liability simultaneously. |
F. Kelleher (Plant Hire) Limited | ||||||||
1j. Judgements In Applying Accounting Policies And Key Sources Of Estimation Uncertainty | ||||||||
In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts assets and liabilities. The directors' judgments, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. and disclosure of contingent assets and liabilities. Due to the inherent subjectivity involved in making such judgments, estimates and assumptions, the actual results and outcomes may differ. In preparing these financial statements, the directors have had to make following judgments: | ||||||||
Determine whether leases entered by the company, either as a lessor or a lessee, are operating leases or finance lease. These decisions depend on assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease-by-lease basis. Determining whether there are indicators of impairment of the company's tangible and intangible assets. Factors taken into consideration in reaching such a decision include the economic viability and excepted future financial performance of the assets and where it is a component. | ||||||||
Tangible fixed assets are depreciation over useful lives into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing assets lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessment considers issues such as future market conditions, the remaining life of the assets and projected disposal values. |
1k. Defined Contributions Pension Plan | ||||||||
The Company makes contributions to its employees own defined contribution pension schemes. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit and loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 9 | |||||
F. Kelleher (Plant Hire) Limited | ||||||||
3. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 1 June 2022 | 1,000,000 | 1,000,000 | ||
At 31 May 2023 | 1,000,000 | 1,000,000 | ||
Depreciation | ||||
At 1 June 2022 | 1,000,000 | 1,000,000 | ||
At 31 May 2023 | 1,000,000 | 1,000,000 | ||
Net Book Amounts | ||||
At 31 May 2023 | ||||
4. TANGIBLE FIXED ASSETS | ||||||||||
Plant and | Fixtures | |||||||||
Machinery | and Fittings | Equipment | Motor Cars | Total | ||||||
£ | £ | £ | £ | £ | ||||||
Cost | ||||||||||
At 1 June 2022 | 4,393,995 | 6,470 | 6,400 | 169,021 | 4,575,886 | |||||
Additions | 125,795 | - | 1,775 | - | 127,570 | |||||
Disposals | (227,900) | - | - | (32,500) | (260,400) | |||||
At 31 May 2023 | 4,291,890 | 6,470 | 8,175 | 136,521 | 4,443,056 | |||||
Depreciation | ||||||||||
At 1 June 2022 | 3,301,082 | 4,910 | 5,141 | 85,808 | 3,396,941 | |||||
Disposals | (199,963) | - | - | (25,499) | (225,462) | |||||
For the year | 292,619 | 390 | 759 | 19,186 | 312,954 | |||||
At 31 May 2023 | 3,393,738 | 5,300 | 5,900 | 79,495 | 3,484,433 | |||||
Net Book Amounts | ||||||||||
At 31 May 2023 | 958,623 | |||||||||
At 31 May 2022 | 1,178,945 | |||||||||
5. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 441,242 | 426,903 | ||||||
Other debtors | 49,601 | 45,859 | ||||||
Prepayments and accrued income | 5,417 | 17,404 | ||||||
Directors current account | 50,407 | 97,979 | ||||||
546,667 | 588,145 | |||||||
F. Kelleher (Plant Hire) Limited | ||||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Taxation and social security | 56,847 | 51,283 | ||||||
Salaries and wages control | 10,819 | 5,887 | ||||||
Bank Loan | 10,000 | 10,000 | ||||||
Hire purchase | 165,532 | 211,114 | ||||||
Trade creditors | 45,492 | 81,744 | ||||||
Other creditors | 1,176 | 1,948 | ||||||
Pension schemes | 853 | 1,414 | ||||||
Accruals | 9,200 | 7,459 | ||||||
299,919 | 370,849 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 22,500 | 32,500 | ||||||
Hire purchase >1yr | 72,233 | 194,494 | ||||||
94,733 | 226,994 | |||||||
8. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Deferred taxation | 180,000 | 202,862 | ||||||
180,000 | 202,862 | |||||||
9. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
2 | 2 | |||||||
2 | 2 | |||||||
F. Kelleher (Plant Hire) Limited | ||||||||
10. CONTROLLING PARTY | ||||||||
The company was under the control of Mr F Kelleher throughout the current and previous period. Mr F Kelleher is a director and own 100% of issued share capital. | ||||||||
11. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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