Registered number
14024994
Webster Plant Haulage (North East) Limited
Filleted Accounts
31 December 2023
Webster Plant Haulage (North East) Limited
Registered number: 14024994
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 5
Tangible assets 4 116,587 155,449
116,587 155,454
Current assets
Stocks 3,535 7,000
Debtors 5 108,507 103,376
Cash at bank and in hand 6,000 24,806
118,042 135,182
Creditors: amounts falling due within one year 6 (233,647) (219,555)
Net current liabilities (115,605) (84,373)
Total assets less current liabilities 982 71,081
Creditors: amounts falling due after more than one year 7 (64,833) (101,827)
Net liabilities (63,851) (30,746)
Capital and reserves
Called up share capital 100 100
Profit and loss account (63,951) (30,846)
Shareholders' funds (63,851) (30,746)
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.
S Makinson
Director
Approved by the board on 3 June 2024
Webster Plant Haulage (North East) 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 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 at the end of each month.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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.
1 Accounting policies (continued)
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 5
At 31 December 2023 5
Amortisation
Provided during the year 5
At 31 December 2023 5
Net book value
At 31 December 2023 -
At 31 December 2022 5
Goodwill was written off over term of its useful life of 2 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 177,865
At 31 December 2023 177,865
Depreciation
At 1 January 2023 22,416
Charge for the year 38,862
At 31 December 2023 61,278
Net book value
At 31 December 2023 116,587
At 31 December 2022 155,449
5 Debtors 2023 2022
£ £
Trade debtors 91,120 92,162
Deferred tax asset 13,276 7,759
Other debtors 4,111 3,455
108,507 103,376
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 36,994 34,208
Trade creditors 40,832 34,790
Taxation and social security costs 23,776 28,095
Other creditors 132,045 122,462
233,647 219,555
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 64,833 101,827
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 101,827 136,034
9 Related party transactions
At the balance sheet date the company owed the following to a company under common control.
2023 2022
£ £
Mechplant (North East) Limited 113,000 113,000
D & K Plant Hire (North East) Limited 18,144 -
131,144 113,000
10 Going concern
At the balance sheet date the company had net liabilities of £63,851. The company is being supported by a loan from a company in which the directors are involved. This support will not be withdrawn until such time as the company is making profits and not less than 12 months from the date of the signing of these accounts. The directors deem that the preparation of these accounts under the going concern concept is appropriate.
11 Other information
Webster Plant Haulage (North East) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 19 Tyne Dock
Port of Tyne
South Shields
United Kingdom
NE34 5SP
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