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REGISTERED NUMBER: 01564586 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

J.P. PLANT HIRE LIMITED

J.P. PLANT HIRE LIMITED (REGISTERED NUMBER: 01564586)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J.P. PLANT HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: James Peter Beal





REGISTERED OFFICE: Crossroads Hire Centre
Selby Road
South Milford
Leeds
LS25 5JE





REGISTERED NUMBER: 01564586 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
First Floor, Unit 12
Pennine Business Park
Longbow Close, Bradley
Huddersfield
West Yorkshire
HD2 1GQ

J.P. PLANT HIRE LIMITED (REGISTERED NUMBER: 01564586)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,760 6,912
Tangible assets 5 2,684,041 1,969,563
2,689,801 1,976,475

CURRENT ASSETS
Stocks 12,672 19,239
Debtors 6 714,583 565,350
Cash at bank 355,057 783,307
1,082,312 1,367,896
CREDITORS
Amounts falling due within one year 7 633,430 621,172
NET CURRENT ASSETS 448,882 746,724
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,138,683

2,723,199

CREDITORS
Amounts falling due after more than
one year

8

(1,006,288

)

(553,044

)

PROVISIONS FOR LIABILITIES (234,626 ) (211,108 )
NET ASSETS 1,897,769 1,959,047

CAPITAL AND RESERVES
Called up share capital 503 503
Capital redemption reserve 500 500
Profit and loss account 1,896,766 1,958,044
1,897,769 1,959,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

J.P. PLANT HIRE LIMITED (REGISTERED NUMBER: 01564586)

BALANCE SHEET - continued
30 JUNE 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2024 and were signed by:





James Peter Beal - Director


J.P. PLANT HIRE LIMITED (REGISTERED NUMBER: 01564586)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

J.P. 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.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of seven years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 Profit and Loss Account, 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.


J.P. PLANT HIRE LIMITED (REGISTERED NUMBER: 01564586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future charges, are included in creditors.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

FINANCE COSTS OF DEBT
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

J.P. PLANT HIRE LIMITED (REGISTERED NUMBER: 01564586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 July 2023
and 30 June 2024 8,064
AMORTISATION
At 1 July 2023 1,152
Amortisation for year 1,152
At 30 June 2024 2,304
NET BOOK VALUE
At 30 June 2024 5,760
At 30 June 2023 6,912

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 175,041 8,084,518 135,711 752,370 9,147,640
Additions 903,120 435,860 - - 1,338,980
Disposals - (139,861 ) - (51,000 ) (190,861 )
At 30 June 2024 1,078,161 8,380,517 135,711 701,370 10,295,759
DEPRECIATION
At 1 July 2023 107,846 6,449,533 126,447 494,251 7,178,077
Charge for year 3,500 509,597 2,316 60,495 575,908
Eliminated on disposal - (107,404 ) - (34,863 ) (142,267 )
At 30 June 2024 111,346 6,851,726 128,763 519,883 7,611,718
NET BOOK VALUE
At 30 June 2024 966,815 1,528,791 6,948 181,487 2,684,041
At 30 June 2023 67,195 1,634,985 9,264 258,119 1,969,563

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 661,131 489,959
Other debtors 53,452 75,391
714,583 565,350

J.P. PLANT HIRE LIMITED (REGISTERED NUMBER: 01564586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 20,956 9,646
Hire purchase contracts (see note 9) 408,466 413,035
Trade creditors 138,088 168,502
Taxation and social security 54,259 12,953
Other creditors 11,661 17,036
633,430 621,172

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 570,743 -
Hire purchase contracts (see note 9) 435,545 553,044
1,006,288 553,044

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 460,377 -

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Gross obligations repayable:
Within one year 450,819 462,380
Between one and five years 455,050 581,448
905,869 1,043,828

Finance charges repayable:
Within one year 42,353 49,345
Between one and five years 19,505 28,404
61,858 77,749

Net obligations repayable:
Within one year 408,466 413,035
Between one and five years 435,545 553,044
844,011 966,079

J.P. PLANT HIRE LIMITED (REGISTERED NUMBER: 01564586)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 591,699 9,646
Hire purchase contracts 844,011 966,079
1,435,710 975,725

Interest on the bank loan is charged at a commercial rate of interest. The bank loan is secured by a charge on the company's assets.

The obligations under finance leases and hire purchase contacts are secured by a charge on the assets purchased under these agreements.

11. PENSION COSTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £17,360 (2023 - £21,687). Contributions totalling £1,890 (2023 - £2,024) were payable to the fund at the year end and are included in creditors.