Registered number
04181096
ABO Plant Hire Ltd
Filleted Accounts
30 June 2023
ABO Plant Hire Ltd
Registered number: 04181096
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 2,055 4,110
Tangible assets 4 56,945 93,181
59,000 97,291
Current assets
Debtors 5 207,142 255,727
Cash at bank and in hand 5,998 40,749
213,140 296,476
Creditors: amounts falling due within one year 6 (74,152) (202,568)
Net current assets 138,988 93,908
Total assets less current liabilities 197,988 191,199
Creditors: amounts falling due after more than one year 7 (6,667) (24,141)
Provisions for liabilities (7,665) -
Net assets 183,656 167,058
Capital and reserves
Called up share capital 100 100
Profit and loss account 183,556 166,958
Shareholder's funds 183,656 167,058
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A R Ashford
Director
Approved by the board on 4 April 2024 and signed on its behalf
ABO Plant Hire Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 20,550
At 30 June 2023 20,550
Amortisation
At 1 July 2022 16,440
Provided during the year 2,055
At 30 June 2023 18,495
Net book value
At 30 June 2023 2,055
At 30 June 2022 4,110
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 490,501
Disposals (77,000)
At 30 June 2023 413,501
Depreciation
At 1 July 2022 397,320
Charge for the year 14,236
On disposals (55,000)
At 30 June 2023 356,556
Net book value
At 30 June 2023 56,945
At 30 June 2022 93,181
5 Debtors 2023 2022
£ £
Trade debtors 21,051 24,495
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 2,000
Deferred tax asset - 3,155
Other debtors 186,091 226,077
207,142 255,727
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 5,564
Trade creditors 482 5,601
Taxation and social security costs 30,872 164,828
Other creditors 42,798 26,575
74,152 202,568
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 24,141
Other creditors 6,667 -
6,667 24,141
8 Controlling party
The company is controlled by its director.
9 Other information
ABO Plant Hire Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Church Farm
Newchurch
Hoar Cross
Burton-on-Trent
DE13 8RJ
ABO Plant Hire Ltd 04181096 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 A R Ashford No description of principal activity 04181096 2021-07-01 2022-06-30 04181096 core:WithinOneYear 2022-06-30 04181096 core:AfterOneYear 2022-06-30 04181096 core:ShareCapital 2022-06-30 04181096 core:RetainedEarningsAccumulatedLosses 2022-06-30 04181096 2022-07-01 2023-06-30 04181096 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04181096 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 04181096 bus:Director40 2022-07-01 2023-06-30 04181096 1 2022-07-01 2023-06-30 04181096 2 2022-07-01 2023-06-30 04181096 core:Goodwill 2022-07-01 2023-06-30 04181096 core:PlantMachinery 2022-07-01 2023-06-30 04181096 countries:England 2022-07-01 2023-06-30 04181096 bus:FRS102 2022-07-01 2023-06-30 04181096 bus:FullAccounts 2022-07-01 2023-06-30 04181096 2023-06-30 04181096 core:WithinOneYear 2023-06-30 04181096 core:AfterOneYear 2023-06-30 04181096 core:ShareCapital 2023-06-30 04181096 core:RetainedEarningsAccumulatedLosses 2023-06-30 04181096 core:Goodwill 2023-06-30 04181096 core:PlantMachinery 2023-06-30 04181096 2022-06-30 04181096 core:Goodwill 2022-06-30 04181096 core:PlantMachinery 2022-06-30 iso4217:GBP xbrli:pure