Company registration number 11171949 (England and Wales)
Oldroyd Plant Ltd
Unaudited
financial statements
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Oldroyd Plant Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Oldroyd Plant Ltd
Statement of financial position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
23,750
28,750
Tangible assets
4
712,767
719,950
736,517
748,700
Current assets
Debtors
12,852
9,500
Cash at bank and in hand
2,046
5,983
14,898
15,483
Creditors: amounts falling due within one year
(468,053)
(436,752)
Net current liabilities
(453,155)
(421,269)
Total assets less current liabilities
283,362
327,431
Creditors: amounts falling due after more than one year
(178,733)
(213,133)
Provisions for liabilities
(84,129)
(75,271)
Net assets
20,500
39,027
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
20,498
39,025
Total equity
20,500
39,027
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
Oldroyd Plant Ltd
Statement of financial position (continued)
as at 31 March 2024
- 2 -
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 29 July 2024
S P Oldroyd
Director
Company Registration No. 11171949
Oldroyd Plant Ltd
Notes to the Financial Statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts and is recognised on supply of services.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
12.5% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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 represent accumulated differences between the company's taxable profit and its financial profit arise primarily from the differences between the accelerated capital allowances and depreciation.
Oldroyd Plant Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
50,000
Amortisation and impairment
At 1 April 2023
21,250
Amortisation charged for the year
5,000
At 31 March 2024
26,250
Carrying amount
At 31 March 2024
23,750
At 31 March 2023
28,750
4
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
737,335
319,539
1,056,874
Additions
36,159
132,235
168,394
Disposals
(3,501)
(105,143)
(108,644)
At 31 March 2024
769,993
346,631
1,116,624
Depreciation and impairment
At 1 April 2023
205,295
131,629
336,924
Depreciation charged in the year
66,557
66,886
133,443
Eliminated in respect of disposals
(610)
(65,900)
(66,510)
At 31 March 2024
271,242
132,615
403,857
Carrying amount
At 31 March 2024
498,751
214,016
712,767
At 31 March 2023
532,040
187,910
719,950
Oldroyd Plant Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2024
4
Tangible fixed assets
(continued)
- 5 -
Included within the net book value of £712,767 is £420,900 (£2023 - £398,488) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £76,749 (2023 - £67,314).
5
Company information
Oldroyd Plant Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 The Maltings Industrial Estate, Doncaster Road, Whitley Bridge, Goole, East Yorkshire, DN14 0HH.