BrightAccountsProduction v1.0.0 v1.0.0 2022-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts 9 April 2024 1 1 NI647017 2023-07-31 NI647017 2022-07-31 NI647017 2021-07-31 NI647017 2022-08-01 2023-07-31 NI647017 2021-08-01 2022-07-31 NI647017 uk-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 NI647017 uk-curr:PoundSterling 2022-08-01 2023-07-31 NI647017 uk-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 NI647017 uk-bus:AbridgedAccounts 2022-08-01 2023-07-31 NI647017 uk-core:ShareCapital 2023-07-31 NI647017 uk-core:ShareCapital 2022-07-31 NI647017 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI647017 uk-core:RetainedEarningsAccumulatedLosses 2022-07-31 NI647017 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI647017 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-07-31 NI647017 uk-bus:FRS102 2022-08-01 2023-07-31 NI647017 uk-core:PlantMachinery 2022-08-01 2023-07-31 NI647017 uk-core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 NI647017 uk-core:MotorVehicles 2022-08-01 2023-07-31 NI647017 2022-08-01 2023-07-31 NI647017 uk-bus:Director1 2022-08-01 2023-07-31 NI647017 uk-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI647017
 
 
GMD Plant Hire Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 July 2023
GMD Plant Hire Ltd
Company Registration Number: NI647017
ABRIDGED BALANCE SHEET
as at 31 July 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 140,963 127,112
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Current Assets
Debtors 20,958 48,528
Cash and cash equivalents 7,668 18,014
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28,626 66,542
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Creditors: amounts falling due within one year (37,656) (31,946)
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Net Current (Liabilities)/Assets (9,030) 34,596
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Total Assets less Current Liabilities 131,933 161,708
 
Creditors:
amounts falling due after more than one year (47,214) (69,852)
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Net Assets 84,719 91,856
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Capital and Reserves
Called up share capital 100 100
Retained earnings 84,619 91,756
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Equity attributable to owners of the company 84,719 91,856
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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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 9 April 2024
           
           
________________________________          
Mr Gary Patrick McDonnell          
Director          
           



GMD Plant Hire Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 July 2023

   
1. General Information
 
GMD Plant Hire Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI647017. The registered office of the company is 69 Plumbridge Road, Newtownstewart, Omagh, Co. Tyrone, BT78 4DP, Northern Ireland which is also the principal place of business of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 July 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Straight line
  Fixtures, fittings and equipment - 15% Straight line
  Motor vehicles - 15% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2022 - 1).
 
  2023 2022
  Number Number
 
Administrative 1 1
  ═════════ ═════════
           
4. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 August 2022 172,349 483 - 172,832
Additions 33,325 1,197 20,833 55,355
Disposals (12,500) - - (12,500)
  ───────── ───────── ───────── ─────────
At 31 July 2023 193,174 1,680 20,833 215,687
  ───────── ───────── ───────── ─────────
Depreciation
At 1 August 2022 45,623 97 - 45,720
Charge for the financial year 25,567 312 3,125 29,004
  ───────── ───────── ───────── ─────────
At 31 July 2023 71,190 409 3,125 74,724
  ───────── ───────── ───────── ─────────
Net book value
At 31 July 2023 121,984 1,271 17,708 140,963
  ═════════ ═════════ ═════════ ═════════
At 31 July 2022 126,726 386 - 127,112
  ═════════ ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 July 2023.
   
6. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.