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REGISTERED NUMBER: 07766060 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

PLANT & INDUSTRIAL EQUIPMENT LIMITED

PLANT & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 07766060)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLANT & INDUSTRIAL EQUIPMENT LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: A L Golborne





REGISTERED OFFICE: 1 Ashley Industrial Estate
241 Station Road
Whittlesey
Peterborough
Cambridgeshire
PE7 2FX





REGISTERED NUMBER: 07766060 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

PLANT & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 07766060)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 45,018 53,455

CURRENT ASSETS
Stocks 165,341 80,000
Debtors 5 85,978 182,173
Cash at bank 31,512 -
282,831 262,173
CREDITORS
Amounts falling due within one year 6 (256,406 ) (258,640 )
NET CURRENT ASSETS 26,425 3,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,443

56,988

CREDITORS
Amounts falling due after more than one
year

7

(74,639

)

(37,424

)

PROVISIONS FOR LIABILITIES (5,851 ) (8,654 )
NET (LIABILITIES)/ASSETS (9,047 ) 10,910

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (9,048 ) 10,909
SHAREHOLDERS' FUNDS (9,047 ) 10,910

PLANT & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 07766060)

Balance Sheet - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





A L Golborne - Director


PLANT & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 07766060)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. COMPANY INFORMATION

Plant & Industrial Equipment 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 (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents amounts chargeable in respect of the sale of goods to customers.

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 - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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.

PLANT & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 07766060)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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 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.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

PLANT & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 07766060)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 1,350 4,626 67,500 9,816 83,292
Additions 851 - 49,172 3,124 53,147
Disposals - - (67,500 ) - (67,500 )
At 31 December 2023 2,201 4,626 49,172 12,940 68,939
DEPRECIATION
At 1 January 2023 169 4,585 17,100 7,983 29,837
Charge for year 250 8 13,554 1,092 14,904
Eliminated on disposal - - (20,820 ) - (20,820 )
At 31 December 2023 419 4,593 9,834 9,075 23,921
NET BOOK VALUE
At 31 December 2023 1,782 33 39,338 3,865 45,018
At 31 December 2022 1,181 41 50,400 1,833 53,455

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 107,110
Other debtors 85,978 75,063
85,978 182,173

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,557 18,484
Trade creditors 186,293 215,855
Taxation and social security 41,206 20,648
Other creditors 3,350 3,653
256,406 258,640

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 74,639 37,424

PLANT & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 07766060)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
A L Golborne
Balance outstanding at start of year 4,295 10,333
Amounts advanced 124,114 125,584
Amounts repaid (68,585 ) (131,622 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 59,824 4,295

The loan has had interest charged at the official rate and is repayable on demand.