Registration number:
Avon Material Supplies (Plant Hire) Limited
for the Year Ended 30 April 2023
Avon Material Supplies (Plant Hire) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Avon Material Supplies (Plant Hire) Limited
Company Information
Directors |
Mr K Hawkins Mr I Mariner Mr J Howarth Mrs J Leach Mr S Mariner |
Company secretary |
Mr K Hawkins |
Registered office |
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Accountants |
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Auditors |
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Avon Material Supplies (Plant Hire) Limited
(Registration number: 03830153)
Balance Sheet as at 30 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
1,617,411 |
1,322,553 |
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Shareholders' funds |
1,617,511 |
1,322,653 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
These financial statements were approved by the
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Avon Material Supplies (Plant Hire) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The principal place of business is:
Unit 26-28 Thorne Way
Woolsbridge Industrial Estate
Three Legged Cross
Wimborne
Dorset
BH21 6FB
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Name of parent of group
These financial statements are consolidated in the financial statements of Avon Material Supplies (Holdings) Limited .
The financial statements of Avon Material Supplies (Holdings) Limited may be obtained from Unit 26-28 Thorne Way, Woolsbridge Industrial Estate, Three Legged Cross, Wimborne, Dorset, BH21 7UH .
Judgements
The directors believe that there have been no material judgements or estimates used in the preparation of these accounts. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Avon Material Supplies (Plant Hire) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets,, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Improvements to property |
20% on cost |
Plant & machinery |
20% on cost |
Fixtures & fittings |
20% on cost |
Motor vehicles |
20% on cost |
Office equipment |
3 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Avon Material Supplies (Plant Hire) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Audit report
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
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Depreciation expense |
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Avon Material Supplies (Plant Hire) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Tangible assets |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 May 2022 |
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Additions |
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- |
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Disposals |
( |
- |
( |
( |
At 30 April 2023 |
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Depreciation |
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At 1 May 2022 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
( |
( |
At 30 April 2023 |
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Carrying amount |
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At 30 April 2023 |
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At 30 April 2022 |
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Avon Material Supplies (Plant Hire) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Debtors |
Current |
Note |
2023 |
2022 |
Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
- |
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Other creditors |
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- |
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Due after one year |
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Loans and borrowings |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Avon Material Supplies (Plant Hire) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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80 |
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80 |
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10 |
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10 |
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10 |
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10 |
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The ordinary 'A', 'B' and 'C' shares carry equal voting rights and rigths to profit and capital distribution.
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Hire purchase contracts |
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2023 |
2022 |
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Current loans and borrowings |
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Hire purchase contracts |
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Other borrowings
The carrying amount of Hire Purchase at year end is £2,705,584 (2022 - £2,491,536). National Westminster Bank Plc hold a debenture dated 11/09/2013 in respect of all monies due. Hire purchase agreements are secured on the specific vehicles purchased. Loans are repayable over periods up to six years. |
Avon Material Supplies (Plant Hire) Limited
Notes to the Financial Statements for the Year Ended 30 April 2023
Related party transactions |
Parent and subsidiary transactions:
The company is a qualifying entity for the purposes of Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', being a member of a group where the parent of that group prepares publicly available consolidated financial statements. The company has therefore taken advantage of exemptions from disclosure of related party transactions with its parent company and fellow wholly owned subsidiaries.
Other related parties and transactions:
During the year the company traded at preferential rates with an entity in which three of the directors of this company are also directors. The company made sales of £22,259 (2022: £39,338) to this entity. At the year-end the entity owed the company £2,948 (2022: £45,765).
Parent and ultimate parent undertaking |
The company's immediate parent is