Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 09387075 Thomas Vaughan true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09387075 2023-01-31 09387075 2024-01-31 09387075 2023-02-01 2024-01-31 09387075 frs-core:CurrentFinancialInstruments 2024-01-31 09387075 frs-core:Non-currentFinancialInstruments 2024-01-31 09387075 frs-core:BetweenOneFiveYears 2024-01-31 09387075 frs-core:MotorVehicles 2024-01-31 09387075 frs-core:MotorVehicles 2023-02-01 2024-01-31 09387075 frs-core:MotorVehicles 2023-01-31 09387075 frs-core:PlantMachinery 2024-01-31 09387075 frs-core:PlantMachinery 2023-02-01 2024-01-31 09387075 frs-core:PlantMachinery 2023-01-31 09387075 frs-core:WithinOneYear 2024-01-31 09387075 frs-core:ShareCapital 2024-01-31 09387075 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 09387075 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09387075 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 09387075 frs-bus:SmallEntities 2023-02-01 2024-01-31 09387075 frs-bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09387075 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09387075 1 2023-02-01 2024-01-31 09387075 frs-bus:Director1 2023-02-01 2024-01-31 09387075 frs-countries:EnglandWales 2023-02-01 2024-01-31 09387075 2022-01-31 09387075 2023-01-31 09387075 2022-02-01 2023-01-31 09387075 frs-core:CurrentFinancialInstruments 2023-01-31 09387075 frs-core:Non-currentFinancialInstruments 2023-01-31 09387075 frs-core:BetweenOneFiveYears 2023-01-31 09387075 frs-core:WithinOneYear 2023-01-31 09387075 frs-core:ShareCapital 2023-01-31 09387075 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 09387075
T Vaughan Plant Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
FB Accountancy Services Limited
Chartered Certified Accountants
Unit 16, Heronsgate Trading Estate
Paycocke Road
Basildon
Essex
SS14 3EU
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of T Vaughan Plant Limited For The Year Ended 31 January 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of T Vaughan Plant Limited which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of T Vaughan Plant Limited , as a body, in accordance with the terms of our engagement letter dated 30 September 2021. Our work has been undertaken solely to prepare for your approval the accounts of T Vaughan Plant Limited and state those matters that we have agreed to state to the director of T Vaughan Plant Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T Vaughan Plant Limited and its director as a body for our work or for this report.
It is your duty to ensure that T Vaughan Plant Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of T Vaughan Plant Limited . You consider that T Vaughan Plant Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of T Vaughan Plant Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
07/10/2024
FB Accountancy Services Limited
Chartered Certified Accountants
Unit 16, Heronsgate Trading Estate
Paycocke Road
Basildon
Essex
SS14 3EU
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Page 2
Statement of Financial Position
Registered number: 09387075
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,560,240 3,635,497
3,560,240 3,635,497
CURRENT ASSETS
Debtors 5 2,000,527 646,013
Cash at bank and in hand 879,759 1,169,825
2,880,286 1,815,838
Creditors: Amounts Falling Due Within One Year 6 (1,059,658 ) (791,595 )
NET CURRENT ASSETS (LIABILITIES) 1,820,628 1,024,243
TOTAL ASSETS LESS CURRENT LIABILITIES 5,380,868 4,659,740
Creditors: Amounts Falling Due After More Than One Year 7 (451,099 ) (753,990 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (642,411 ) (610,240 )
NET ASSETS 4,287,358 3,295,510
CAPITAL AND RESERVES
Called up share capital 10 1 1
Income Statement 4,287,357 3,295,509
SHAREHOLDERS' FUNDS 4,287,358 3,295,510
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Income Statement.
On behalf of the board
Thomas Vaughan
Director
07/10/2024
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
T Vaughan Plant Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09387075 . The registered office is Thomand House, Beacon Hill Industrial Estate, Botany Way, Purfleet, RM19 1SR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
2.4. Leasing and Hire Purchase Contracts
Assets obtained under 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 income statement 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 income statement as incurred.
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2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.8. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 4,526,183 406,304 4,932,487
Additions 524,740 7,749 532,489
Disposals (65,680 ) (13,700 ) (79,380 )
As at 31 January 2024 4,985,243 400,353 5,385,596
Depreciation
As at 1 February 2023 1,127,975 169,015 1,296,990
Provided during the period 478,105 60,086 538,191
Disposals (821 ) (9,004 ) (9,825 )
As at 31 January 2024 1,605,259 220,097 1,825,356
Net Book Value
As at 31 January 2024 3,379,984 180,256 3,560,240
As at 1 February 2023 3,398,208 237,289 3,635,497
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 753,048 475,435
Other debtors 1,247,479 170,578
2,000,527 646,013
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 476,771 456,691
Trade creditors 62,674 244,177
Corporation tax 283,205 42,157
Other taxes and social security 204,414 15,079
Other creditors 32,594 33,491
1,059,658 791,595
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 451,099 753,990
451,099 753,990
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8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 927,870 1,210,681
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 476,771 456,691
Later than one year and not later than five years 451,099 753,990
927,870 1,210,681
927,870 1,210,681
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Related Party Transactions
T Vaughan LimitedA company wholly owned by the director.During the year, T Vaughan Plant Limited supplied T Vaughan Limited equipment hire at market rate. Included in trade debtors is £694,975 (2023: £177,519) owing from T Vaughan Limited.

T Vaughan Limited

A company wholly owned by the director.

During the year, T Vaughan Plant Limited supplied T Vaughan Limited equipment hire at market rate. Included in trade debtors is £694,975 (2023: £177,519) owing from T Vaughan Limited.

Deltashor LtdA company which the director has ultimate control.During the year, T Vaughan Plant Limited supplied Deltashor Ltd equipment hire at market rate. Included in trade debtors is £58,073 (2023: £293,649) owing from Deltashor Ltd. Included in trade creditors is £Nil (2023: £1,304) owing to Deltashor Ltd. Included in other debtors is £390,000 (2023: £132,472) owing by Deltashor Ltd. This is due and payable on demand.

Deltashor Ltd

A company which the director has ultimate control.

During the year, T Vaughan Plant Limited supplied Deltashor Ltd equipment hire at market rate. Included in trade debtors is £58,073 (2023: £293,649) owing from Deltashor Ltd. Included in trade creditors is £Nil (2023: £1,304) owing to Deltashor Ltd. Included in other debtors is £390,000 (2023: £132,472) owing by Deltashor Ltd. This is due and payable on demand.

Future Delta LtdA company wholly owned by the director.Included in other debtors is £850,000 owing by Future Delta Ltd Ltd. This is due and payable on demand.

Future Delta Ltd

A company wholly owned by the director.

Included in other debtors is £850,000 owing by Future Delta Ltd Ltd. This is due and payable on demand.

12. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of his ownership of 100% of the issued share capital in the company.
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