2023-03-012024-02-292024-02-29false05350439R S Plant Hire 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R S Plant Hire Limited

Registered Number
05350439
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

R S Plant Hire Limited
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

Rodney Treneman Stidston
Timothy William Stidston
Tina Stidston

Company Secretary

Tina Stidston

Registered Address

Easton Court Farm, Thurlestone
Kingsbridge
Devon
TQ7 3LT

Registered Number

05350439 (England and Wales)
R S Plant Hire Limited
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-3,156
Tangible assets4202,259192,776
202,259195,932
Current assets
Stocks57,63914,828
Debtors36,48517,391
Cash at bank and on hand31,31322,542
75,43754,761
Creditors amounts falling due within one year6(164,053)(95,696)
Net current assets (liabilities)(88,616)(40,935)
Total assets less current liabilities113,643154,997
Creditors amounts falling due after one year7(8,746)(15,749)
Provisions for liabilities8(38,429)(36,628)
Net assets66,468102,620
Capital and reserves
Called up share capital200200
Profit and loss account66,268102,420
Shareholders' funds66,468102,620
The financial statements were approved and authorised for issue by the Board of Directors on 6 June 2024, and are signed on its behalf by:
Tina Stidston
Director
Registered Company No. 05350439
R S Plant Hire Limited
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-20
Plant and machinery15-
Vehicles25-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 March 2360,00060,000
At 29 February 2460,00060,000
Amortisation and impairment
At 01 March 2356,84456,844
Charge for year3,1563,156
At 29 February 2460,00060,000
Net book value
At 29 February 24--
At 28 February 233,1563,156
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 March 2331,673333,85483,5543,880452,961
Additions5,97138,671--44,642
At 29 February 2437,644372,52583,5543,880497,603
Depreciation and impairment
At 01 March 2318,155181,95256,5163,562260,185
Charge for year1,71926,5486,75913335,159
At 29 February 2419,874208,50063,2753,695295,344
Net book value
At 29 February 2417,770164,02520,279185202,259
At 28 February 2313,518151,90227,038318192,776
5.Stocks

2024

2023

££
Raw materials and consumables5,5002,429
Work in progress2,13912,399
Total7,63914,828
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables21,0358,099
Bank borrowings and overdrafts7,0017,001
Taxation and social security7,4557,686
Finance lease and HP contracts1,3267,759
Other creditors119,18460,599
Accrued liabilities and deferred income8,0524,552
Total164,05395,696
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts8,74615,749
Total8,74615,749
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)38,42936,628
Total38,42936,628
9.Related party transactions
At the year end the company owed Tina & Rodney Stidston, Directors £43,058 (2023 - £14,660). At the year end the company owed Timothy Stidston, Director £73,145 (2023 - £43,833).