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REGISTERED NUMBER: 01561496 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Plantool Limited

Plantool Limited (Registered number: 01561496)






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


Plantool Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S G M Jones
B M Jones





REGISTERED OFFICE: 3 Low March Industrial Estate
Low March
Daventry
Northamptonshire
NN11 4SD





REGISTERED NUMBER: 01561496 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

Plantool Limited (Registered number: 01561496)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,850,851 3,731,468
3,850,851 3,731,468

CURRENT ASSETS
Stocks 27,000 26,100
Debtors 6 636,608 654,264
Cash in hand 23,221 23,410
686,829 703,774
CREDITORS
Amounts falling due within one year 7 1,606,914 1,436,872
NET CURRENT LIABILITIES (920,085 ) (733,098 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,930,766

2,998,370

CREDITORS
Amounts falling due after more than one year 8 1,487,605 1,543,727

PROVISIONS FOR LIABILITIES 580,868 399,733

CAPITAL AND RESERVES
Called up share capital 22,000 22,000
Share premium 28,000 28,000
Retained earnings 812,293 1,004,910
SHAREHOLDERS' FUNDS 862,293 1,054,910
2,930,766 2,998,370

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 directors acknowledge their 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.

Plantool Limited (Registered number: 01561496)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





B M Jones - Director


Plantool Limited (Registered number: 01561496)

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

1. STATUTORY INFORMATION

Plantool 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 assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of the approval of the financial statements.The directors have concluded that there are no material uncertainties about the company's ability to continue as a going concern and they are satisfied that the company has adequate resources to continue to meet its liabilities as they fall due and, therefore, that it remains appropriate to continue to adopt going concern basis of accounting in the preparation of the financial statements.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Hire fleet - 50% on cost, 33% on cost, 25% on cost, 20% on cost, 10% on cost and at varying rates on cost
Fixtures and fittings - 25% on cost and 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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


Plantool Limited (Registered number: 01561496)

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 166,142
AMORTISATION
At 1 January 2023
and 31 December 2023 166,142
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Hire and
property fleet fittings
£    £    £   
COST
At 1 January 2023 225,644 4,621,423 101,285
Additions 40,169 747,144 -
Disposals - (477,515 ) -
At 31 December 2023 265,813 4,891,052 101,285
DEPRECIATION
At 1 January 2023 181,271 1,311,357 60,095
Charge for year 21,099 375,790 4,054
Eliminated on disposal - (208,751 ) -
At 31 December 2023 202,370 1,478,396 64,149
NET BOOK VALUE
At 31 December 2023 63,443 3,412,656 37,136
At 31 December 2022 44,373 3,310,066 41,190

Plantool Limited (Registered number: 01561496)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 629,410 71,990 5,649,752
Additions 99,454 - 886,767
Disposals (53,081 ) - (530,596 )
At 31 December 2023 675,783 71,990 6,005,923
DEPRECIATION
At 1 January 2023 300,067 65,494 1,918,284
Charge for year 74,073 1,624 476,640
Eliminated on disposal (31,101 ) - (239,852 )
At 31 December 2023 343,039 67,118 2,155,072
NET BOOK VALUE
At 31 December 2023 332,744 4,872 3,850,851
At 31 December 2022 329,343 6,496 3,731,468


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 309,285 300,653
Amounts owed by group undertakings 310,321 302,677
Other debtors 17,002 50,934
636,608 654,264

Included in trade debtors are factored debts totalling £274,215 (2022: £232,462).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 457,958 462,287
Hire purchase contracts 769,965 605,802
Trade creditors 194,877 239,416
Amounts owed to group undertakings 38,415 38,445
Taxation and social security 84,037 61,852
Other creditors 61,662 29,070
1,606,914 1,436,872

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 42,000 101,500
Hire purchase contracts 1,445,605 1,442,227
1,487,605 1,543,727

Plantool Limited (Registered number: 01561496)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 398,458 420,287
Bank loans 101,500 143,500
Other loans 36,573 -
Hire purchase contracts 2,215,570 2,048,029
2,752,101 2,611,816

A fixed and floating charge is held over all assets.
Hire purchase loans are secured against the asset they relate to.