Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-09-01falsematerial processing, aggregate production and equipment rental services11truetruefalse 10899385 2022-09-01 2023-08-31 10899385 2021-09-01 2022-08-31 10899385 2023-08-31 10899385 2022-08-31 10899385 c:Director1 2022-09-01 2023-08-31 10899385 d:PlantMachinery 2022-09-01 2023-08-31 10899385 d:PlantMachinery 2023-08-31 10899385 d:PlantMachinery 2022-08-31 10899385 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10899385 d:FurnitureFittings 2022-09-01 2023-08-31 10899385 d:FurnitureFittings 2023-08-31 10899385 d:FurnitureFittings 2022-08-31 10899385 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10899385 d:ComputerEquipment 2022-09-01 2023-08-31 10899385 d:ComputerEquipment 2023-08-31 10899385 d:ComputerEquipment 2022-08-31 10899385 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10899385 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10899385 d:CurrentFinancialInstruments 2023-08-31 10899385 d:CurrentFinancialInstruments 2022-08-31 10899385 d:Non-currentFinancialInstruments 2023-08-31 10899385 d:Non-currentFinancialInstruments 2022-08-31 10899385 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10899385 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 10899385 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 10899385 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 10899385 d:ShareCapital 2023-08-31 10899385 d:ShareCapital 2022-08-31 10899385 d:RetainedEarningsAccumulatedLosses 2023-08-31 10899385 d:RetainedEarningsAccumulatedLosses 2022-08-31 10899385 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 10899385 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-08-31 10899385 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-08-31 10899385 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2022-08-31 10899385 c:FRS102 2022-09-01 2023-08-31 10899385 c:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 10899385 c:FullAccounts 2022-09-01 2023-08-31 10899385 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10899385 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 10899385 d:HirePurchaseContracts d:WithinOneYear 2022-08-31 10899385 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 10899385 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-08-31 10899385 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 10899385 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 10899385 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 10899385 d:TaxLossesCarry-forwardsDeferredTax 2022-08-31 10899385 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-08-31 10899385 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-08-31 10899385 d:LeasedAssetsHeldAsLessee 2023-08-31 10899385 d:LeasedAssetsHeldAsLessee 2022-08-31 10899385 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number:  10899385














DEXTER PLANT LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


 
DEXTER PLANT LTD
REGISTERED NUMBER: 10899385

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,386,364
243,693

  
1,386,364
243,693

Current assets
  

Stocks
  
41,620
79,775

Debtors: amounts falling due within one year
 5 
143,579
277,261

Cash at bank and in hand
 6 
74,346
110,475

  
259,545
467,511

Creditors: amounts falling due within one year
 7 
(1,148,902)
(612,850)

Net current liabilities
  
 
 
(889,357)
 
 
(145,339)

Total assets less current liabilities
  
497,007
98,354

Creditors: amounts falling due after more than one year
 8 
(559,533)
(97,208)

  

Net (liabilities)/assets
  
(62,526)
1,146


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(62,626)
1,046

  
(62,526)
1,146


Page 1

 
DEXTER PLANT LTD
REGISTERED NUMBER: 10899385
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 Prescott
Director

Date: 15 April 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England & Wales (no. 10899385). The registered office is The Plaza, 100 Old Hall Street, Liverpool, Merseyside, England, L3 9QJ. 
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is that of material processing, aggregate production and equipment rental services.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 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 to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales 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 in accordance with the stage of completion of the contract 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 stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

 
2.5

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.

Page 4

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
On cost
Fixtures and fittings
-
25%
On cost
Computer equipment
-
25%
On cost

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.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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 complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2022
318,101
6,666
935
325,702


Additions
1,290,509
-
267
1,290,776


Disposals
(58,530)
-
-
(58,530)



At 31 August 2023

1,550,080
6,666
1,202
1,557,948



Depreciation


At 1 September 2022
76,074
4,999
935
82,008


Charge for the year on owned assets
89,748
1,666
50
91,464


Disposals
(1,888)
-
-
(1,888)



At 31 August 2023

163,934
6,665
985
171,584



Net book value



At 31 August 2023
1,386,146
1
217
1,386,364



At 31 August 2022
242,027
1,666
-
243,693

Included in Plant and machinery is an asset which is not subject to the standard depreciation policy adopted by the company.
The asset is instead depreciated on the basis of cumulative production volumes at the balance sheet date as a proportion of expected total production volumes over the asset's useful life.
The cost of acquisition of the asset concerned was £921,618, and its net book value at the balance sheet date was £900,259 (2022: £Nil)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
1,090,250
188,563
Page 7

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

           4.Tangible fixed assets (continued)


1,090,250
188,563

Page 8

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Trade debtors
71,828
47,393

Other debtors
6,605
213,990

Prepayments and accrued income
18,742
4,924

Deferred taxation
46,404
10,954

143,579
277,261



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
74,346
110,475

74,346
110,475



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
41,972
14,925

Other taxation and social security
-
11,266

Obligations under finance lease and hire purchase contracts
115,669
42,625

Other creditors
989,061
543,034

Accruals and deferred income
2,200
1,000

1,148,902
612,850


The following liabilities were secured:

2023
2022
£
£



Obligations under finance lease and hire purchase contracts
115,669
42,625

115,669
42,625

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured against the assets concerned.

Page 9

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
559,533
97,208

559,533
97,208


The following liabilities were secured:

2023
2022
£
£



Obligations under finance lease and hire purchase contracts
559,533
97,208

559,533
97,208

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured against the assets concerned.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
152,951
50,316

Between 1-5 years
738,583
115,583

891,534
165,899

Page 10

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
74,346
110,475

Financial assets measured at amortised cost
90,987
45,252

165,333
155,727


Financial liabilities


Financial liabilities measured at amortised cost
1,708,983
658,789


Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


Financial assets measured at amortised cost comprise of trade debtors.


Financial liabilities measured at amortised cost comprise of trade creditors, obligations under finance lease and hire purchase contracts, accruals and other creditors.


11.


Deferred taxation




2023


£






At beginning of year
10,954


Charged to profit or loss
35,450



At end of year
46,404

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(346,591)
(60,923)

Tax losses carried forward
392,995
71,877

46,404
10,954

Page 11

 
DEXTER PLANT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

12.


Related party transactions

Included in other creditors is an amount of £815,627 (2022: £388,742) owed to the director. The loan is repayable on demand and no interest has been charged.
Also included in other creditors is an amount of £173,434 (2022: £154,289) owed to Prescott Farm Limited, a connected company. The loan is repayable on demand and no interest has been charged.


13.


Controlling party

The company is under the control of the director.

 
Page 12