Company Registration No. 08447771 (England and Wales)
Downland Plant Hire Limited
Unaudited accounts
for the year ended 31 March 2024
Downland Plant Hire Limited
Unaudited accounts
Contents
Downland Plant Hire Limited
Company Information
for the year ended 31 March 2024
Company Number
08447771 (England and Wales)
Registered Office
Weavers Cottage, School Lane
Washington
Pulborough
West Sussex
RH20 4AP
United Kingdom
Accountants
JP Accountancy Services (Sussex) Limited
5 Fairfield Way
Ashington
Pulborough
West Sussex
RH20 3LA
Downland Plant Hire Limited
Statement of financial position
as at 31 March 2024
Intangible assets
5,758
12,039
Tangible assets
525,423
447,686
Cash at bank and in hand
88,162
65,545
Creditors: amounts falling due within one year
(76,080)
(66,036)
Net current assets
81,798
84,168
Total assets less current liabilities
612,979
543,893
Provisions for liabilities
Deferred tax
(124,302)
(85,060)
Net assets
488,677
458,833
Called up share capital
100
100
Profit and loss account
488,577
458,733
Shareholders' funds
488,677
458,833
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 August 2024 and were signed on its behalf by
Mr Andrew Luckin
Director
Company Registration No. 08447771
Downland Plant Hire Limited
Notes to the Accounts
for the year ended 31 March 2024
Downland Plant Hire Limited is a private company, limited by shares, registered in England and Wales, registration number 08447771. The registered office is Weavers Cottage, School Lane, Washington, Pulborough, West Sussex, RH20 4AP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended
31 March 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
9 below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised over its useful life of 12 years.
Downland Plant Hire Limited
Notes to the Accounts
for the year ended 31 March 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
7,725
1,067,864
39,850
5,411
1,120,850
Additions
-
127,700
-
-
127,700
Disposals
-
(80,300)
-
-
(80,300)
At 31 March 2024
7,725
1,115,264
39,850
5,411
1,168,250
At 1 April 2023
-
648,359
20,767
4,038
673,164
Charge for the year
-
18,655
47
4
18,706
On disposals
-
(49,043)
-
-
(49,043)
At 31 March 2024
-
617,971
20,814
4,042
642,827
At 31 March 2024
7,725
497,293
19,036
1,369
525,423
At 31 March 2023
7,725
419,505
19,083
1,373
447,686
Downland Plant Hire Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
62,415
71,553
Accrued income and prepayments
7,301
13,106
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
23,333
33,617
Obligations under finance leases and hire purchase contracts
11,785
-
Trade creditors
6,122
11,099
Taxes and social security
30,922
18,314
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
9
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 April 2022
31 March 2023
Capital and reserves (as previously stated)
584,895
543,893
Deferred tax provision
(81,816)
(85,060)
Capital and reserves (as restated)
503,079
458,833