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REGISTERED NUMBER: 01849017 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31st December 2023

for

RICHARD KENNARD (PLANT HIRE) LIMITED

RICHARD KENNARD (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01849017)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICHARD KENNARD (PLANT HIRE) LIMITED

Company Information
for the Year Ended 31st December 2023







DIRECTOR: R G Kennard





REGISTERED OFFICE: 38 Salisbury Road
Worthing
West Sussex
BN11 1RD





REGISTERED NUMBER: 01849017 (England and Wales)





ACCOUNTANTS: MastersFuller
Chartered Certified Accountants
38 Salisbury Road
Worthing
West Sussex
BN11 1RD

RICHARD KENNARD (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01849017)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 824,584 798,978

CURRENT ASSETS
Stocks 99,000 82,000
Debtors 5 93,224 224,120
Cash at bank 2,697 5,341
194,921 311,461
CREDITORS
Amounts falling due within one year 6 250,970 300,245
NET CURRENT (LIABILITIES)/ASSETS (56,049 ) 11,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

768,535

810,194

CREDITORS
Amounts falling due after more than one
year

7

(331,383

)

(337,980

)

PROVISIONS FOR LIABILITIES (155,393 ) (150,446 )
NET ASSETS 281,759 321,768

CAPITAL AND RESERVES
Called up share capital 7,750 7,750
Share premium 3,250 3,250
Capital redemption reserve 2,250 2,250
Retained earnings 268,509 308,518
281,759 321,768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RICHARD KENNARD (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01849017)

Balance Sheet - continued
31st December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21st August 2024 and were signed by:





R G Kennard - Director


RICHARD KENNARD (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01849017)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Richard Kennard (Plant Hire) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - 5% on cost or 20% on cost
Fixtures & fittings & equipment - 50% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

RICHARD KENNARD (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01849017)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant & & fittings Motor
machinery & equipment vehicles Totals
£    £    £    £   
COST
At 1st January 2023 1,080,982 11,116 76,787 1,168,885
Additions 23,920 1,332 71,345 96,597
At 31st December 2023 1,104,902 12,448 148,132 1,265,482
DEPRECIATION
At 1st January 2023 309,128 8,104 52,675 369,907
Charge for year 50,635 2,902 17,454 70,991
At 31st December 2023 359,763 11,006 70,129 440,898
NET BOOK VALUE
At 31st December 2023 745,139 1,442 78,003 824,584
At 31st December 2022 771,854 3,012 24,112 798,978

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant & Motor
machinery vehicles Totals
£    £    £   
COST
At 1st January 2023 288,324 42,115 330,439
Additions - 57,645 57,645
Transfer to ownership (48,485 ) - (48,485 )
At 31st December 2023 239,839 99,760 339,599
DEPRECIATION
At 1st January 2023 31,109 21,106 52,215
Charge for year 14,417 13,808 28,225
Transfer to ownership (8,866 ) - (8,866 )
At 31st December 2023 36,660 34,914 71,574
NET BOOK VALUE
At 31st December 2023 203,179 64,846 268,025
At 31st December 2022 257,215 21,009 278,224

RICHARD KENNARD (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01849017)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 80,938 221,970
Other debtors 12,286 2,150
93,224 224,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans & overdrafts 38,747 41,492
Hire purchase contracts 79,894 74,630
Trade creditors 33,984 54,627
Taxation and social security 41,475 50,516
Other creditors 56,870 78,980
250,970 300,245

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 31,393 36,753
Hire purchase contracts 192,950 221,953
Other loan 107,040 79,274
331,383 337,980

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 33,396 36,273

The bank overdraft is secured by a personal guarantee provided by R G Kennard a director.

9. OTHER FINANCIAL COMMITMENTS

The company had financial commitments at the balance sheet date of £292,370 (2022 £165,582).