Company Registration No. 03751865 (England and Wales)
The Plant Specialist Limited
Unaudited accounts
for the year ended 31 March 2024
The Plant Specialist Limited
Unaudited accounts
Contents
The Plant Specialist Limited
Company Information
for the year ended 31 March 2024
Directors
Keith Pounder
Sean Walter
Company Number
03751865 (England and Wales)
Registered Office
7 WHITEFIELD LANE
GREAT MISSENDEN
BUCKINGHAMSHIRE
HP16 0BH
The Plant Specialist Limited
Statement of financial position
as at 31 March 2024
Tangible assets
260,228
322,627
Cash at bank and in hand
55,456
191,960
Creditors: amounts falling due within one year
(108,738)
(54,933)
Net current assets
265,508
168,234
Total assets less current liabilities
525,736
490,861
Creditors: amounts falling due after more than one year
-
(34,115)
Provisions for liabilities
Deferred tax
(10,959)
(20,185)
Net assets
514,777
436,561
Called up share capital
2
2
Profit and loss account
514,775
436,559
Shareholders' funds
514,777
436,561
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 directors acknowledge their 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 of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by
Keith Pounder
Director
Company Registration No. 03751865
The Plant Specialist Limited
Notes to the Accounts
for the year ended 31 March 2024
The Plant Specialist Limited is a private company, limited by shares, registered in England and Wales, registration number 03751865. The registered office is 7 WHITEFIELD LANE, GREAT MISSENDEN, BUCKINGHAMSHIRE, HP16 0BH.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
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:
Plant & machinery
20% Cost
Motor vehicles
25% Reducing Balance
Fixtures & fittings
20% Cost
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.
The company operates a defined contribution scheme for the beenefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The Plant Specialist Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
216,392
216,694
128,778
7,381
569,245
Disposals
-
(67,378)
(51,681)
-
(119,059)
At 31 March 2024
216,392
149,316
77,097
7,381
450,186
At 1 April 2023
-
133,504
105,733
7,381
246,618
Charge for the year
-
29,158
5,761
-
34,919
On disposals
-
(42,179)
(49,400)
-
(91,579)
At 31 March 2024
-
120,483
62,094
7,381
189,958
At 31 March 2024
216,392
28,833
15,003
-
260,228
At 31 March 2023
216,392
83,190
23,045
-
322,627
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
-
60,694
Amounts falling due within one year
Trade debtors
108,790
23,780
Other debtors
210,000
7,427
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
8,333
Obligations under finance leases and hire purchase contracts
-
12,502
Trade creditors
24,960
11,518
Taxes and social security
83,172
18,950
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
8,328
The Plant Specialist Limited
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
9
Average number of employees
During the year the average number of employees was 4 (2023: 5).