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Registered number: 07073717










ARROWHAUL & PLANT HIRE LIMITED










DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
COMPANY INFORMATION


DIRECTORS
Mr R O Hutchinson 
Mrs C A Hutchinson 




COMPANY SECRETARY
Mrs C A Hutchinson



REGISTERED NUMBER
07073717



REGISTERED OFFICE
White House Farm
Sandy Lane West

Billingham

Stockton on Tees

TS22 5NB




INDEPENDENT AUDITORS
Waltons Business Advisers Limited
Chartered Accountants & Statutory Auditors

Maritime House

Harbour Walk

The Marina

Hartlepool

TS24 0UX





 
ARROWHAUL & PLANT HIRE LIMITED
 

CONTENTS



Page
Directors' report
1 - 2
Independent auditors' report
3 - 5
Statement of income and retained earnings
6
Balance sheet
7
Notes to the financial statements
8 - 13


 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PRINCIPAL ACTIVITY

The company's principal activities during the year were the hire of plant, small tools and the provision of haulage services.

DIRECTORS

The directors who served during the year were:

Mr R O Hutchinson 
Mrs C A Hutchinson 

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 1

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

AUDITORS

The auditorsWaltons Business Advisers Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





Mr R O Hutchinson
Director

Date: 15 August 2024

Page 2

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARROWHAUL & PLANT HIRE LIMITED
 

UNQUALIFIED OPINION


We were engaged to audit the financial statements of Arrowhaul & Plant Hire Limited (the 'company') for the year
ended 31 December 2023, which comprise the statement of income and retained earnings, the balance sheet
and the related notes, including a summary of significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of
Ireland' (United Kingdom Generally Accepted Accounting Practice).
We do not express an opinion on the accompanying financial statements of the company. The significance of the
matter described in the basis for disclaimer of opinion section of our report, we have not been able to obtain
sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.


BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 3

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARROWHAUL & PLANT HIRE LIMITED (CONTINUED)


OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors' report has been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.


we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

 
RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.


AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
  


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.


Page 4

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ARROWHAUL & PLANT HIRE LIMITED (CONTINUED)


USE OF OUR REPORT
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Paul Harrison MSc, BSc, FCA (senior statutory auditor).
  
for and on behalf of
Waltons Business Advisers Limited
 
Chartered Accountants
Statutory Auditors
  
Maritime House
Harbour Walk
The Marina
Hartlepool
TS24 0UX

21 August 2024
Page 5

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£


Turnover
1,969,935
1,788,494

Cost of sales
(1,649,158)
(1,571,150)

GROSS PROFIT
320,777
217,344

Administrative expenses
(170,772)
(114,433)

OPERATING PROFIT
150,005
102,911

Tax on profit
(28,345)
(19,552)

PROFIT AFTER TAX
121,660
83,359



Retained earnings at the beginning of the year
392,891
509,532

Profit for the year
121,660
83,359

Dividends declared and paid
(200,000)
(200,000)

RETAINED EARNINGS AT THE END OF THE YEAR
314,551
392,891
There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of income and retained earnings.

The notes on pages 8 to 13 form part of these financial statements.

Page 6

 
ARROWHAUL & PLANT HIRE LIMITED
REGISTERED NUMBER: 07073717

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

CURRENT ASSETS
  

Stocks
 7 
155,680
194,600

Debtors: amounts falling due within one year
 8 
1,555,242
480,699

Cash at bank and in hand
 9 
83,202
104,575

  
1,794,124
779,874

Creditors: amounts falling due within one year
 10 
(1,471,899)
(379,309)

NET CURRENT ASSETS
  
 
 
322,225
 
 
400,565

TOTAL ASSETS LESS CURRENT LIABILITIES
  
322,225
400,565

Creditors: amounts falling due after more than one year
 11 
(7,574)
(7,574)

  

NET ASSETS
  
314,651
392,991


CAPITAL AND RESERVES
  

Called up share capital 
  
100
100

Profit and loss account
  
314,551
392,891

  
314,651
392,991


The financial statements have been prepared 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 financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr R O Hutchinson
Director
Date: 15 August 2024

The notes on pages 8 to 13 form part of these financial statements.

Page 7

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

The company is a private company, limited by shares, incorporated in England and Wales and its registered office is:-
White House Farm
Sandy Lane West
Billingham
Stockton on Tees
TS22 5NB
The immediate and ultimate parent company is Arrowcruit Holdings Limited.

2.ACCOUNTING POLICIES

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors, having made due and careful enquiry, are of the opinion that the company, with the continued trade of Arrowbuild & Civil Engineering Limited, who it relies on for the majority of its sales and income, has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

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 reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 8

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

  
2.4

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and, loans to related parties.

  
2.5

Stocks

The stock value is based upon management's assessment of the quantity and value of stock held at the balance sheet date.
Management consider the useful life of the items held within stock to be 5 years and are impairing the carrying value of the stock, on a straight line basis, over this period. This value is recognised within the Profit and Loss.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 9

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estiamtes and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
The judgements and key sources of estimation uncertainty that management have made in the process of applying the entity's accounting policies are that have the most significant effect on the amounts recognised in the financial statements are as follows:
Stock valuation
Items held within stock relate to goods for sale or hire. 
The value of stock is based upon management's assessment of the quantity and value of stock held at 31 December 2021 and is subsequently being written off over a period of 5 years. 
The stock value and rates used is a significant judgement based on the directors' knowledge of the business. 


4.


AUDITORS' REMUNERATION

During the year, the company obtained the following services from the company's auditors:


2023
2022
£
£

Fees payable to the company's auditors for the audit of the company's financial statements
3,455
3,215

The company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent company.


5.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 10

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


TANGIBLE FIXED ASSETS





Other fixed assets

£



Cost 


At 1 January 2023
16,217



At 31 December 2023

16,217



Depreciation


At 1 January 2023
16,217



At 31 December 2023

16,217



Net book value



At 31 December 2023
-



At 31 December 2022
-


7.


STOCKS

2023
2022
£
£

Stock for hire
155,680
194,600

155,680
194,600


The carrying value of stocks are stated net of impairment losses totalling £96,903 (2022 - £57,984). Impairment losses totalling £38,920 (2022 - £48,650) were recognised in profit and loss.

Page 11

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


DEBTORS

2023
2022
£
£


Trade debtors
162,999
285,064

Amounts owed by group undertakings
1,385,313
162,446

Other debtors
6,280
32,586

Deferred taxation
650
603

1,555,242
480,699



9.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
83,202
104,575

83,202
104,575



10.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
78,557
125,549

Amounts owed to group undertakings
1,374,432
231,595

Other taxation and social security
-
8,254

Accruals and deferred income
18,910
13,911

1,471,899
379,309



11.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Other creditors
7,574
7,574

7,574
7,574


Page 12

 
ARROWHAUL & PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


RELATED PARTY TRANSACTIONS

At 31 December 2023 £7,574 (31 December 2022: £7,574) was due to the directors.
During the year the company had sales of £9,923 with related companies. At 31 December 2023 £180 (
31 December 2022: £32,587) was due from these companies. 


13.


CONTROLLING PARTY

The company's ultimate parent company is Arrowcruit Holdings Limited (address: White House Farm, Sandy Lane West, Billingham, Stockton on Tees, TS22 5NB) a company incorporated in England and Wales.
The consolidated financial statements for the group are publicly available from Companies House, Crown Way, Maindy, Cardiff.

 
Page 13