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Registration number: 12961128

Acer Plant and Grab Hire Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Acer Plant and Grab Hire Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Acer Plant and Grab Hire Limited

(Registration number: 12961128)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

14,930

17,327

Current assets

 

Debtors

5

22,227

27,529

Cash at bank and in hand

 

1,662

310

 

23,889

27,839

Creditors: Amounts falling due within one year

6

(42,763)

(44,484)

Net current liabilities

 

(18,874)

(16,645)

Total assets less current liabilities

 

(3,944)

682

Creditors: Amounts falling due after more than one year

6

-

(388)

Provisions for liabilities

(2,837)

(3,292)

Net liabilities

 

(6,781)

(2,998)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(6,783)

(3,000)

Shareholders' deficit

 

(6,781)

(2,998)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 October 2024
 

 

Acer Plant and Grab Hire Limited

(Registration number: 12961128)
Balance Sheet as at 31 October 2023

.........................................
Mr J Frizell
Director

 

Acer Plant and Grab Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
344 Crewe Road
Shavington
Crewe
CW2 5AD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

Acer Plant and Grab Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and
provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value
added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except
that a change attributable to an item of income or expense recognised as other comprehensive income is also
recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively
enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in
the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.

 

Acer Plant and Grab Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

No depreciation

Office equipment

33% straight line

Plant and machinery

25% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

Acer Plant and Grab Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

6,177

567

13,000

1,037

20,781

At 31 October 2023

6,177

567

13,000

1,037

20,781

Depreciation

At 1 November 2022

-

301

2,773

380

3,454

Charge for the year

-

187

2,046

164

2,397

At 31 October 2023

-

488

4,819

544

5,851

Carrying amount

At 31 October 2023

6,177

79

8,181

493

14,930

At 31 October 2022

6,177

266

10,227

657

17,327

 

Acer Plant and Grab Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

4,407

4,009

Amounts owed by related parties

17,820

23,520

   

22,227

27,529

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other borrowings

388

4,658

Trade creditors

3,658

2,000

Taxation and social security

8,686

9,339

Other creditors

30,031

28,487

42,763

44,484

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Other borrowings

-

388

Other borrowings

Included in other borrowings are hire purchase liabilities. These liabilities are secured on the associated assets held by the company.