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REGISTERED NUMBER: NI618947 (Northern Ireland)















VQ PLANT HIRE AND CIVIL ENGINEERING
LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






VQ PLANT HIRE AND CIVIL ENGINEERING
LTD (REGISTERED NUMBER: NI618947)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VQ PLANT HIRE AND CIVIL ENGINEERING
LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Vincent Quinn
Maura Quinn
Aidan Quinn





REGISTERED OFFICE: 75B Orchard Road
Strabane
Co. Tyrone
BT82 9QT





REGISTERED NUMBER: NI618947 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

VQ PLANT HIRE AND CIVIL ENGINEERING
LTD (REGISTERED NUMBER: NI618947)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 205,365 268,033

CURRENT ASSETS
Receivables: amounts falling due within
one year

6

370,410

346,401
Cash at bank 210,677 278,622
581,087 625,023
PAYABLES
Amounts falling due within one year 7 (62,633 ) (63,651 )
NET CURRENT ASSETS 518,454 561,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

723,819

829,405

PAYABLES
Amounts falling due after more than
one year

8

(37,984

)

(66,450

)

PROVISIONS FOR LIABILITIES 9 (43,695 ) (50,683 )
NET ASSETS 642,140 712,272

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 642,040 712,172
SHAREHOLDERS' FUNDS 642,140 712,272

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 October 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.

VQ PLANT HIRE AND CIVIL ENGINEERING
LTD (REGISTERED NUMBER: NI618947)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2024 and were signed on its behalf by:





Vincent Quinn - Director


VQ PLANT HIRE AND CIVIL ENGINEERING
LTD (REGISTERED NUMBER: NI618947)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

VQ Plant Hire and Civil Engineering Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

Property, plant and equipment
Property, plant and equipment 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 property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery25 % Reducing Balance
Fixtures, fittings and equipment25 % Reducing Balance
Motor vehicles25 % Reducing Balance

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Property, plant and equipment 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 Statement of Financial Position 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 Income Statement.

VQ PLANT HIRE AND CIVIL ENGINEERING
LTD (REGISTERED NUMBER: NI618947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. 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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Trade and other receivables
Trade and other receivables 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 payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
COST
At 1 November 2022 551,028 2,969 86,400 640,397
Additions 5,138 - - 5,138
At 31 October 2023 556,166 2,969 86,400 645,535
DEPRECIATION
At 1 November 2022 323,029 2,127 47,208 372,364
Charge for year 57,797 211 9,798 67,806
At 31 October 2023 380,826 2,338 57,006 440,170
NET BOOK VALUE
At 31 October 2023 175,340 631 29,394 205,365
At 31 October 2022 227,999 842 39,192 268,033

6. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade receivables 115,832 64,460
Other receivables 34,169 34,168
Amounts owed by group undertakings 130,000 130,000
Directors' current accounts 33,451 56,797
Tax 40,718 40,287
VAT 6,987 9,776
Prepayments and accrued income 9,253 10,913
370,410 346,401

VQ PLANT HIRE AND CIVIL ENGINEERING
LTD (REGISTERED NUMBER: NI618947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 12,769 10,648
Hire purchase contracts 17,820 23,367
Trade payables 13,143 10,521
Tax (132 ) 15,500
Pension payable 583 415
Accruals and deferred income 18,450 3,200
62,633 63,651

8. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2023 2022
£ £
Bank loans - 1-2 years 15,593 26,242
Hire purchase contracts 22,391 40,208
37,984 66,450

9. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 43,695 50,683

Deferred tax
£
Balance at 1 November 2022 50,683
Credit to Income Statement during year (6,988 )
Balance at 31 October 2023 43,695

10. RELATED PARTY DISCLOSURES

The directors of VQ Plant Hire and Civil Engineering Limited are also directors in VQ Property Ltd. The company has advanced funds to VQ Property Ltd. At 31 October 2023 the balance owed to the company was £130,000.