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Registration number: 03830153

Avon Material Supplies (Plant Hire) Limited

Annual Report and Financial Statements

for the Year Ended 30 April 2023

 

Avon Material Supplies (Plant Hire) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 9

 

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

Unit 26-28 Thorne Way
Woolsbridge Industrial Estate
Three Legged Cross
Wimborne
Dorset
BH21 6FB

Accountants

Elysium
Chartered Accountants
Unit A7 The Arena
9 Nimrod Way
Ferndown
Wimborne
Dorset
BH21 7UH

Auditors

Ward Goodman Audit Services Limited
Chartered Accountants
4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

 

Avon Material Supplies (Plant Hire) Limited

(Registration number: 03830153)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,825,718

3,259,086

Current assets

 

Debtors

6

428,666

243,620

Cash at bank and in hand

 

686,510

624,328

 

1,115,176

867,948

Creditors: Amounts falling due within one year

7

(1,242,712)

(879,598)

Net current liabilities

 

(127,536)

(11,650)

Total assets less current liabilities

 

3,698,182

3,247,436

Creditors: Amounts falling due after more than one year

7

(1,612,250)

(1,631,356)

Provisions for liabilities

(468,421)

(293,427)

Net assets

 

1,617,511

1,322,653

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,617,411

1,322,553

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 Board of Directors and authorised for issue on 8 January 2024 and signed on its behalf by:
 


Mr I Mariner
Director


Mr J Howarth
Director

 

Avon Material Supplies (Plant Hire) Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

1

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

2

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:

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 12 January 2024 was Mr I Rodd BSc FCA FCCA, who signed for and on behalf of the Statutory Auditor Ward Goodman Audit Services Limited.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,052,668

873,743

 

Avon Material Supplies (Plant Hire) Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

1,153,643

25,565

4,558,955

5,738,163

Additions

133,411

-

1,484,906

1,618,317

Disposals

(14,250)

-

(499,051)

(513,301)

At 30 April 2023

1,272,804

25,565

5,544,810

6,843,179

Depreciation

At 1 May 2022

286,447

4,111

2,188,520

2,479,078

Charge for the year

176,021

8,390

868,257

1,052,668

Eliminated on disposal

(14,250)

-

(500,035)

(514,285)

At 30 April 2023

448,218

12,501

2,556,742

3,017,461

Carrying amount

At 30 April 2023

824,586

13,064

2,988,068

3,825,718

At 30 April 2022

867,197

21,454

2,370,435

3,259,086

 

Avon Material Supplies (Plant Hire) Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

26,028

61,565

Amounts owed by group undertakings

10

295,996

171,576

Prepayments

 

-

70

Other debtors

 

106,642

10,409

   

428,666

243,620

7

Creditors

Creditors: amounts falling due within one year

Note

2023
 £

2022
 £

Due within one year

 

Bank loans and overdrafts

9

1,093,334

860,180

Trade creditors

 

134,982

2,962

Taxation and social security

 

-

16,456

Other creditors

 

14,396

-

 

1,242,712

879,598

Due after one year

 

Loans and borrowings

9

1,612,250

1,631,356

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

1,612,250

1,631,356

 

Avon Material Supplies (Plant Hire) Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary £1 "A" shares of £1 each

80

80

80

80

Ordinary £1 "B" shares of £1 each

10

10

10

10

Ordinary £1 "C" shares of £1 each

10

10

10

10

 

100

100

100

100

The ordinary 'A', 'B' and 'C' shares carry equal voting rights and rigths to profit and capital distribution.

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

1,612,250

1,631,356

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

1,093,334

860,180

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

10

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).

11

Parent and ultimate parent undertaking

The company's immediate parent is Avon Material Supplies (Holdings) Limited, incorporated in England.