Registered number
09302466
NTD NATIONAL TRACKED DUMPER HIRE LIMITED
Filleted Accounts
31 December 2023
NTD NATIONAL TRACKED DUMPER HIRE LIMITED
Registered number: 09302466
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,062,132 5,376,978
Current assets
Debtors 4 905,122 817,887
Cash at bank and in hand 189,472 470,969
1,094,594 1,288,856
Creditors: amounts falling due within one year 5 (1,763,827) (1,690,187)
Net current liabilities (669,233) (401,331)
Total assets less current liabilities 5,392,899 4,975,647
Creditors: amounts falling due after more than one year 6 (1,687,115) (2,119,046)
Provisions for liabilities (727,420) (326,807)
Net assets 2,978,364 2,529,794
Capital and reserves
Called up share capital 200 200
Profit and loss account 2,978,164 2,529,594
Shareholders' funds 2,978,364 2,529,794
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 members have 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.
Mr Richard Maclean
Director
Approved by the board on 5 September 2024
NTD NATIONAL TRACKED DUMPER HIRE LIMITED
Notes to the Accounts
for the year ended 31 December 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 hire of plant and machinery to the construction industry. Turnover is recognised with reference to signed time sheets and hire contracts.
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 12% straight line
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.
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 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 8,526,740
Additions 1,397,137
Disposals (488,465)
At 31 December 2023 9,435,412
Depreciation
At 1 January 2023 3,149,762
Charge for the year 611,474
On disposals (387,956)
At 31 December 2023 3,373,280
Net book value
At 31 December 2023 6,062,132
At 31 December 2022 5,376,978
4 Debtors 2023 2022
£ £
Trade debtors 900,675 670,128
VAT refund receivable - 144,877
Other debtors and prepayment 4,447 2,882
905,122 817,887
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 1,451,924 1,309,467
Trade creditors 264,301 363,219
Taxation and social security costs 33,802 -
Other creditors 13,800 17,501
1,763,827 1,690,187
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 1,687,115 2,119,046
7 Controlling party
Land & Water Plant Limited owns 50% of the ordinary share capital of this company and its registered office address is Numeric House, 98 Station Road, Sidcup, Kent, DA15 7BY.
P. Flannery Plant Hire (Oval) Limited owns 50% of the ordinary share capital of this company and its registered office address is 27a Maxwell Road, Northwood, Middlesex, HA6 2XY.
8 Other information
NTD NATIONAL TRACKED DUMPER HIRE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
27A Maxwell Road
Northwood
Middlesex
HA6 2XY
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