Registration number:
UK Container Maintenance Limited
for the Period from 1 October 2022 to 31 December 2023
UK Container Maintenance Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
UK Container Maintenance Limited
Company Information
Directors |
L R Bull M A Moore D J Williams |
Registered office |
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Auditors |
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UK Container Maintenance Limited
(Registration number: 03617405)
Balance Sheet as at 31 December 2023
Note |
Period ended 31 December 2023 |
(As restated) |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
110 |
110 |
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Retained earnings |
657,003 |
360,613 |
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Shareholders' funds |
657,113 |
360,723 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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UK Container Maintenance Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in the United Kingdom.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Name of parent of group
These financial statements are consolidated in the financial statements of Egbert Taylor Holdings Limited.
The financial statements of Egbert Taylor Holdings Limited may be obtained from Oak Park, Ryland Lane, Elmley Lovett, Droitwich, WR9 0QZ.
Disclosure of long or short period
Going concern
The financial statements have been prepared on a going concern basis.
UK Container Maintenance Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Audit report
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Prior period errors
Upon acquisition by Egbert Taylor Holdings Limited it was identified that stock and work in progress has been historically over valued in accordance with the accounting policy adopted. Stock was reduced accordingly which resulted in a reduction in reserves as at 2022 of £772,592 and a reduction as at the year end of £836,099.
Relating to the current period disclosed in these financial statements | Relating to the prior period disclosed in these financial statements | Relating to periods before the prior period disclosed in these financial statements | |
Stock | (508,300) | (262,355) | (262,355) |
Work in Progress | (327,799) | (510,237) | (510,237) |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Contract revenue recognition
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied.
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured relibly; and
- the costs incurred and the costs to complete the contract can be measured reliably.
UK Container Maintenance Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold improvements |
10 years straight line |
Vehicles |
5 years straight line |
Other property, plant and equipment |
5 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
UK Container Maintenance Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
UK Container Maintenance Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
UK Container Maintenance Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Tangible assets |
Long leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 October 2022 |
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Additions |
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Disposals |
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- |
- |
( |
At 31 December 2023 |
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Depreciation |
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At 1 October 2022 |
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Charge for the period |
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Eliminated on disposal |
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- |
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( |
At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 30 September 2022 |
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Included within the net book value of land and buildings above is £116,626 (2022 - £144,790) in respect of long leasehold land and buildings.
UK Container Maintenance Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Stocks |
Period ended 31 December 2023 |
(As restated) |
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Work in progress |
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Stock |
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Debtors |
Current |
Note |
Period ended 31 December 2023 |
Year ended 30 September 2022 |
Trade debtors |
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Amounts owed by related parties |
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- |
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Prepayments |
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Other debtors |
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UK Container Maintenance Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Creditors |
Creditors: amounts falling due within one year
Note |
Period ended 31 December 2023 |
Year ended 30 September 2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
Period ended 31 December 2023 |
Year ended 30 September 2022 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Period ended 31 December 2023 |
Year ended 30 September 2022 |
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Non-current loans and borrowings |
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Hire purchase contracts |
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Other borrowings |
- |
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Period ended 31 December 2023 |
Year ended 30 September 2022 |
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Current loans and borrowings |
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Bank borrowings |
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Hire purchase contracts |
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UK Container Maintenance Limited
Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023
Bank borrowings
The facility is secured against the trade debtor book |
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
Period ended 31 December 2023 |
Year ended 30 September 2022 |
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Not later than one year |
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Later than one year and not later than five years |
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The amount of non-cancellable operating lease payments recognised as an expense during the period was £
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is