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Registered number: 00407876
William Bradshaw (Plant Hire & Contractors) Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Meacher-Jones
Chartered Accountants
6 St John's Court
Vicars Lane
Chester
Cheshire
CH1 1QE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00407876
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 385,805 285,190
385,805 285,190
CURRENT ASSETS
Stocks 5 1,000 1,000
Debtors 6 406,762 170,979
Cash at bank and in hand 94,736 136,190
502,498 308,169
Creditors: Amounts Falling Due Within One Year 7 (397,978 ) (245,188 )
NET CURRENT ASSETS (LIABILITIES) 104,520 62,981
TOTAL ASSETS LESS CURRENT LIABILITIES 490,325 348,171
Creditors: Amounts Falling Due After More Than One Year 8 (161,617 ) (138,145 )
NET ASSETS 328,708 210,026
CAPITAL AND RESERVES
Called up share capital 11 10,003 10,003
Profit and Loss Account 318,705 200,023
SHAREHOLDERS' FUNDS 328,708 210,026
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Bradshaw
Director
4 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
William Bradshaw (Plant Hire & Contractors) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00407876 . The registered office is Portside North, Ellesmere Port, Wirral, Cheshire, CH65 2HQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 5% on reducing balance (buildings only)
Plant & Machinery 25% on reducing balance and 50%
Motor Vehicles 40% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 15)
17 15
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 June 2023 419,704 3,517,038 848,912 62,018 4,847,672
Additions - - 159,502 1,021 160,523
As at 31 May 2024 419,704 3,517,038 1,008,414 63,039 5,008,195
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 June 2023 239,410 3,449,697 815,751 57,624 4,562,482
Provided during the period 5,515 13,463 39,832 1,098 59,908
As at 31 May 2024 244,925 3,463,160 855,583 58,722 4,622,390
Net Book Value
As at 31 May 2024 174,779 53,878 152,831 4,317 385,805
As at 1 June 2023 180,294 67,341 33,161 4,394 285,190
Included in cost of land and buildings is freehold land of £70,000 (2023 - £70,000) which is not depreciated.
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 99,724 20,720
5. Stocks
2024 2023
£ £
Stock 1,000 1,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 370,854 140,194
Prepayments and accrued income 35,908 30,785
406,762 170,979
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 30,760 10,777
Trade creditors 232,220 108,275
Bank loans and overdrafts 43,252 34,817
Other taxes and social security 30,964 24,173
VAT 3,153 46,785
Accruals and deferred income 20,336 13,253
Directors' loan accounts 37,293 7,108
397,978 245,188
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 75,704 8,980
Bank loans 85,913 129,165
161,617 138,145
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The hire purchase creditors are secured by the assets to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 106,464 19,757
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 30,760 10,777
Later than one year and not later than five years 75,704 8,980
106,464 19,757
106,464 19,757
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
10,000 Ordinary Shares of £ 1 each 10,000 10,000
2 Ordinary A shares of £ 1 each 2 2
1 Ordinary B shares of £ 1 each 1 1
10,003 10,003
Page 5