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No description of principal activities is disclosed
2023-01-01
Sage Accounts Production 21.0 - FRS102_2021
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2023-12-31
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Company registration number:
01683887
WEST DEREHAM PLANT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
WEST DEREHAM PLANT LIMITED
Contents
Directors report
Accountant's report
Statement of financial position
Notes to the financial statements
WEST DEREHAM PLANT LIMITED
Directors report
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023.
Directors
The directors who served the company during the year were as follows:
|
Mrs S Drew |
Mr R E Drew |
Mr N T Drew |
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
13 March 2024
and signed on behalf of the board by:
Mr N T Drew
Director
WEST DEREHAM PLANT LIMITED
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of West Dereham Plant Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of West Dereham Plant Limited for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of West Dereham Plant Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of West Dereham Plant Limited and state those matters that we have agreed to state to the board of directors of West Dereham Plant Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than West Dereham Plant Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that West Dereham Plant Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of West Dereham Plant Limited. You consider that West Dereham Plant Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of West Dereham Plant Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Robert Pola
Chartered Accountant
2 Low Road
Congham
Kings Lynn
Norfolk
PE32 1AE
13 March 2024
WEST DEREHAM PLANT LIMITED
Statement of financial position
31 December 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
6 |
735,177 |
|
|
|
590,510 |
|
|
Investments |
|
7 |
- |
|
|
|
414,000 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
735,177 |
|
|
|
1,004,510 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
8 |
2,293,473 |
|
|
|
409,741 |
|
|
Cash at bank and in hand |
|
|
265,408 |
|
|
|
725 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
2,558,881 |
|
|
|
410,466 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
9 |
(
2,150,393) |
|
|
|
(
392,433) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
408,488 |
|
|
|
18,033 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,143,665 |
|
|
|
1,022,543 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
10 |
|
|
(
193,211) |
|
|
|
(
110,860) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
11 |
|
|
(
137,547) |
|
|
|
(
109,684) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
812,907 |
|
|
|
801,999 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
13 |
|
|
8,000 |
|
|
|
8,000 |
Profit and loss account |
|
|
|
|
804,907 |
|
|
|
793,999 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
812,907 |
|
|
|
801,999 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
13 March 2024
, and are signed on behalf of the board by:
Mr N T Drew
Director
Company registration number:
01683887
WEST DEREHAM PLANT LIMITED
Notes to the financial statements
Year ended 31 December 2023
1.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Land and buildings |
- |
Nil |
|
|
Plant and machinery |
- |
15 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
15 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
3.
Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
4.
Profit before taxation
Profit before taxation is stated after charging/(crediting):
|
|
|
|
2023 |
2022 |
|
|
|
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
97,010 |
88,518 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
5.
Tax on profit
Major components of tax expense
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Current tax: |
|
|
|
|
UK current tax expense |
|
210,651 |
38,827 |
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Deferred tax: |
|
|
|
|
Origination and reversal of timing differences |
|
27,863 |
10,986 |
|
|
|
_______ |
_______ |
|
Tax on profit |
|
238,514 |
49,813 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Tangible assets
|
|
Freehold and leasehold properties |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2023 |
39,640 |
923,220 |
17,093 |
253,982 |
1,233,935 |
|
|
|
Additions |
- |
226,219 |
2,174 |
77,308 |
305,701 |
|
|
|
Disposals |
- |
(
141,969) |
- |
(
25,250) |
(
167,219) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2023 |
39,640 |
1,007,470 |
19,267 |
306,040 |
1,372,417 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2023 |
26,409 |
429,427 |
12,237 |
175,352 |
643,425 |
|
|
|
Charge for the year |
1,984 |
74,263 |
774 |
19,989 |
97,010 |
|
|
|
Disposals |
- |
(
83,063) |
- |
(
20,132) |
(
103,195) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2023 |
28,393 |
420,627 |
13,011 |
175,209 |
637,240 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 December 2023 |
11,247 |
586,843 |
6,256 |
130,831 |
735,177 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2022 |
13,231 |
493,793 |
4,856 |
78,630 |
590,510 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
|
|
|
|
|
|
|
|
|
|
Plant and machinery |
Motor vehicles |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
At 31 December 2023 |
427,934 |
110,168 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 31 December 2022 |
320,567 |
52,082 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Investments
|
|
Other loans |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 January 2023 |
414,000 |
414,000 |
|
|
|
|
|
Additions |
352,000 |
352,000 |
|
|
|
|
|
Disposals |
(
766,000) |
(
766,000) |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 January 2023 and 31 December 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 December 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 December 2022 |
414,000 |
414,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
2,287,290 |
385,894 |
|
Other debtors |
|
6,183 |
23,847 |
|
|
|
_______ |
_______ |
|
|
|
2,293,473 |
409,741 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
- |
102,751 |
|
Trade creditors |
|
1,490,780 |
150,592 |
|
Corporation tax |
|
210,651 |
38,827 |
|
Social security and other taxes |
|
348,758 |
12,526 |
|
Obligations under finance leases |
|
98,204 |
85,737 |
|
Other creditors |
|
2,000 |
2,000 |
|
|
|
_______ |
_______ |
|
|
|
2,150,393 |
392,433 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Obligations under finance leases |
|
193,211 |
110,860 |
|
|
|
_______ |
_______ |
|
|
|
|
|
11.
Provisions
|
|
Deferred tax (note 12) |
Total |
|
|
|
|
|
£ |
£ |
|
|
|
|
At 1 January 2023 |
109,684 |
109,684 |
|
|
|
|
Additions |
27,863 |
27,863 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
At 31 December 2023 |
137,547 |
137,547 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
12.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Included in provisions (note 11) |
|
137,547 |
109,684 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Accelerated capital allowances |
|
137,547 |
109,684 |
|
|
|
_______ |
_______ |
|
|
|
|
|
13.
Called up share capital
Authorised share capital
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
8,000 |
|
8,000 |
|
8,000 |
|
8,000 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
Issued, called up and fully paid |
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
8,000 |
|
8,000 |
|
8,000 |
|
8,000 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|