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REGISTERED NUMBER: 04195566 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Blanchard Wells (Plant Hire) Limited

Blanchard Wells (Plant Hire) Limited (Registered number: 04195566)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Blanchard Wells (Plant Hire) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr M A Wells





SECRETARY: Mrs L M Tibballs





REGISTERED OFFICE: The Meadows
Forester Road
Soberton Heath
Southampton
Hampshire
SO32 3QG





REGISTERED NUMBER: 04195566 (England and Wales)





AUDITORS: Alliott Wingham Limited
Kintyre House
70 High Street
Fareham
Hampshire
PO16 7BB

Blanchard Wells (Plant Hire) Limited (Registered number: 04195566)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,027,902 4,101,964

CURRENT ASSETS
Debtors 5 279,328 554,554
Cash at bank 135,278 154,433
414,606 708,987
CREDITORS
Amounts falling due within one year 6 1,722,986 831,978
NET CURRENT LIABILITIES (1,308,380 ) (122,991 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,719,522

3,978,973

CREDITORS
Amounts falling due after more than one
year

7

(1,638,669

)

(1,524,070

)

PROVISIONS FOR LIABILITIES (876,993 ) (254,561 )
NET ASSETS 2,203,860 2,200,342

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,203,858 2,200,340
2,203,860 2,200,342

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





Mr M A Wells - Director


Blanchard Wells (Plant Hire) Limited (Registered number: 04195566)

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

1. STATUTORY INFORMATION

Blanchard Wells (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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have taken consideration of the impact of COVID-19 on the business and the withdrawal of the United Kingdom from the European Union. The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of signing these financial statements. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised in line with when the plant and equipment hire services are provided and adjusted for any deferred or accrued income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance
Vehicles - 25% on reducing balance

Tangible fixed assets are initially measured at costs and subsequently measured at cost net of depreciation and any impairment losses.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and subsequently measured at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Blanchard Wells (Plant Hire) Limited (Registered number: 04195566)

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

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 10,700,954 69,753 10,770,707
Additions 3,565,920 58,317 3,624,237
Disposals (576,157 ) (32,020 ) (608,177 )
At 31 December 2023 13,690,717 96,050 13,786,767
DEPRECIATION
At 1 January 2023 6,612,607 56,136 6,668,743
Charge for year 1,616,146 9,909 1,626,055
Eliminated on disposal (507,194 ) (28,739 ) (535,933 )
At 31 December 2023 7,721,559 37,306 7,758,865
NET BOOK VALUE
At 31 December 2023 5,969,158 58,744 6,027,902
At 31 December 2022 4,088,347 13,617 4,101,964

Included within the net book value of £6,027,902 is £4,313,532 (2022: £2,284,348) relating to assets held under hire purchase agreements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 150,000 250,000
Other debtors 129,328 304,554
279,328 554,554

Blanchard Wells (Plant Hire) Limited (Registered number: 04195566)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 1,648,696 796,792
Trade creditors 74,290 35,186
1,722,986 831,978

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 1,638,669 924,070
Amounts owed to group undertakings - 600,000
1,638,669 1,524,070

8. SECURED DEBTS

Hire purchase contracts are secured by fixed charge on the assets to which they relate.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Nolan FCA (Senior Statutory Auditor)
for and on behalf of Alliott Wingham Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Throughout the year, entities controlled by key management personnel invoiced the company £300,000 (2022: £300,000) and no amounts were outstanding a year end (2022: NIL)

11. ULTIMATE CONTROLLING PARTY

At the year end the parent and ultimate parent company was Taine Holdings Limited which is incorporated in England & Wales.

The ultimate controlling party is Mr M A Wells.