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REGISTERED NUMBER: 06475945 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2023

FOR

CUPIT PLANT HIRE LIMITED

CUPIT PLANT HIRE LIMITED (REGISTERED NUMBER: 06475945)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CUPIT PLANT HIRE LIMITED

COMPANY INFORMATION
for the Year Ended 30th April 2023







DIRECTORS: L J Cupit
Miss A F Cupit





SECRETARY: L J Cupit





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 06475945 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

CUPIT PLANT HIRE LIMITED (REGISTERED NUMBER: 06475945)

BALANCE SHEET
30th April 2023

30/4/23 30/4/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,115,199 1,046,749

CURRENT ASSETS
Debtors 5 505,174 667,667
Cash at bank and in hand 141,490 175,837
646,664 843,504
CREDITORS
Amounts falling due within one year 6 639,478 767,183
NET CURRENT ASSETS 7,186 76,321
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,122,385

1,123,070

CREDITORS
Amounts falling due after more than one
year

7

(423,027

)

(507,107

)

PROVISIONS FOR LIABILITIES 9 (207,383 ) (198,882 )
NET ASSETS 491,975 417,081

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 491,875 416,981
SHAREHOLDERS' FUNDS 491,975 417,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

CUPIT PLANT HIRE LIMITED (REGISTERED NUMBER: 06475945)

BALANCE SHEET - continued
30th April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th January 2024 and were signed on its behalf by:




L J Cupit - Director



Miss A F Cupit - Director


CUPIT PLANT HIRE LIMITED (REGISTERED NUMBER: 06475945)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2023

1. STATUTORY INFORMATION

Cupit Plant Hire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to leasehold property - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

CUPIT PLANT HIRE LIMITED (REGISTERED NUMBER: 06475945)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to
leasehold Plant and Motor Office
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st May 2022 20,000 1,004,117 872,363 7,061 1,903,541
Additions 3,773 167,548 134,000 2,312 307,633
At 30th April 2023 23,773 1,171,665 1,006,363 9,373 2,211,174
DEPRECIATION
At 1st May 2022 - 408,299 443,335 5,158 856,792
Charge for year 63 98,009 140,088 1,023 239,183
At 30th April 2023 63 506,308 583,423 6,181 1,095,975
NET BOOK VALUE
At 30th April 2023 23,710 665,357 422,940 3,192 1,115,199
At 30th April 2022 20,000 595,818 429,028 1,903 1,046,749

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st May 2022 630,700 740,400 1,371,100
Additions 118,000 130,000 248,000
Transfer to ownership - (119,950 ) (119,950 )
At 30th April 2023 748,700 750,450 1,499,150
DEPRECIATION
At 1st May 2022 148,285 325,416 473,701
Charge for year 76,812 125,630 202,442
Transfer to ownership - (77,486 ) (77,486 )
At 30th April 2023 225,097 373,560 598,657
NET BOOK VALUE
At 30th April 2023 523,603 376,890 900,493
At 30th April 2022 482,415 414,984 897,399

CUPIT PLANT HIRE LIMITED (REGISTERED NUMBER: 06475945)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/23 30/4/22
£    £   
Trade debtors 491,285 504,171
Other debtors 3,000 3,000
VAT - 21,251
Prepayments 10,889 139,245
505,174 667,667

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/23 30/4/22
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 1,000 1,000
Hire purchase contracts 297,095 318,895
Trade creditors 194,600 320,265
Tax 1,577 4,953
Social security and other taxes 52,243 7,598
Other creditors 44,800 39,300
Directors' current accounts 35,603 62,612
Accrued expenses 2,560 2,560
639,478 767,183

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/23 30/4/22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 11,667 21,667
Hire purchase contracts 401,360 475,440
423,027 507,107

8. SECURED DEBTS

The following secured debts are included within creditors:

30/4/23 30/4/22
£    £   
Hire purchase contracts 698,455 794,335

9. PROVISIONS FOR LIABILITIES
30/4/23 30/4/22
£    £   
Deferred tax 207,383 198,882

CUPIT PLANT HIRE LIMITED (REGISTERED NUMBER: 06475945)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st May 2022 198,882
Accelerated capital allowances 8,501
Balance at 30th April 2023 207,383

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/4/23 30/4/22
value: £    £   
100 Ordinary £1 100 100

11. CAPITAL COMMITMENTS
30/4/23 30/4/22
£    £   
Contracted but not provided for in the
financial statements - -

12. RELATED PARTY DISCLOSURES

During the year, Mr L J Cupit (Director) charged the company £1,000 (2022 - £1,000) for rent of his private yard.

13. ULTIMATE CONTROLLING PARTY

Mr L J Cupit owns 80% of the issued share capital of the company.