Registered number
NI642282
BD Plant Hire & Sales Ltd
Filleted Accounts
30 November 2023
BD Plant Hire & Sales Ltd
Registered number: NI642282
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 228,899 287,822
Current assets
Debtors 4 103,812 156,265
Cash at bank and in hand 933 2,196
104,745 158,461
Creditors: amounts falling due within one year 5 (154,643) (150,303)
Net current (liabilities)/assets (49,898) 8,158
Total assets less current liabilities 179,001 295,980
Creditors: amounts falling due after more than one year 6 (30,985) (89,533)
Provisions for liabilities (43,294) (54,206)
Net assets 104,722 152,241
Capital and reserves
Called up share capital 20 20
Profit and loss account 104,702 152,221
Shareholder's funds 104,722 152,241
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Barry Donnelly
Director
Approved by the board on 30 August 2024
BD Plant Hire & Sales Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 600,091
Additions 9,102
Disposals (13,500)
At 30 November 2023 595,693
Depreciation
At 1 December 2022 312,269
Charge for the year 57,225
On disposals (2,700)
At 30 November 2023 366,794
Net book value
At 30 November 2023 228,899
At 30 November 2022 287,822
4 Debtors 2023 2022
£ £
Trade debtors 16,719 96,803
Amounts owed by group undertakings and undertakings in which the company has a participating interest 3,928 3,928
Other debtors 83,165 55,534
103,812 156,265
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 40,417 45,417
Obligations under finance lease and hire purchase contracts 54,406 86,898
Trade creditors 46,300 5,466
Taxation and social security costs 1,221 1,221
Other creditors 12,299 11,301
154,643 150,303
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 30,985 89,533
7 Other information
BD Plant Hire & Sales Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
204B Scallen Road
Trillick
Omagh
Co Tyrone
BT78 3TA
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