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REGISTERED NUMBER: 01430833 (England and Wales)


































Financial Statements

for the Year Ended 30 April 2024

for

REUBEN SMITH (PLANT HIRE) LIMITED

REUBEN SMITH (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01430833)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REUBEN SMITH (PLANT HIRE) LIMITED

Company Information
for the year ended 30 April 2024







DIRECTORS: R Smith
S Smith





SECRETARY: Mrs S Smith





REGISTERED OFFICE: Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX





REGISTERED NUMBER: 01430833 (England and Wales)





AUDITORS: Mitchells Grievson Limited
Kensington House
3 Kensington
Bishop Auckland
Co. Durham
DL14 6HX

REUBEN SMITH (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01430833)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 962,993 981,711

CURRENT ASSETS
Stocks 21,000 18,000
Debtors 5 364,697 236,288
Cash at bank 64 25,766
385,761 280,054
CREDITORS
Amounts falling due within one year 6 492,000 480,011
NET CURRENT LIABILITIES (106,239 ) (199,957 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

856,754

781,754

CREDITORS
Amounts falling due after more than one year 7 (76,978 ) (116,320 )

PROVISIONS FOR LIABILITIES (174,071 ) (156,368 )
NET ASSETS 605,705 509,066

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 605,605 508,966
SHAREHOLDERS' FUNDS 605,705 509,066

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 18 September 2024 and were signed on its behalf by:





S Smith - Director


REUBEN SMITH (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01430833)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Reuben Smith (Plant Hire) 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.

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added taxation.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Heavy plant- 10% on reducing balance
Other plant and equipment- 25% on reducing balance
Fixtures and fittings- 10% on reducing balance
Motor vehicles- 25% on reducing balance
Computer Equipment- 25% on cost

Work in progress
Long term work in progress is stated in the balance sheet as cost plus attributable profit less payments on account and provisions for foreseeable losses.This figure is included within 'Debtors less than 1 year'.

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.

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.

REUBEN SMITH (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01430833)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Income from operating leases
Rentals received under operating leases are credited to the profit and loss account as obtained and are included in turnover.


Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 2,071,258 9,088 125,710 7,597 2,213,653
Additions 136,050 - - - 136,050
Disposals (127,550 ) - - - (127,550 )
At 30 April 2024 2,079,758 9,088 125,710 7,597 2,222,153
DEPRECIATION
At 1 May 2023 1,119,747 8,625 95,973 7,597 1,231,942
Charge for year 100,918 46 7,434 - 108,398
Eliminated on disposal (81,180 ) - - - (81,180 )
At 30 April 2024 1,139,485 8,671 103,407 7,597 1,259,160
NET BOOK VALUE
At 30 April 2024 940,273 417 22,303 - 962,993
At 30 April 2023 951,511 463 29,737 - 981,711

Included in plant and machinery are assets which are available to hire as well as for use in excavation work by the company.


REUBEN SMITH (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01430833)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2023 612,290
Additions 113,800
Transfer to ownership (316,450 )
At 30 April 2024 409,640
DEPRECIATION
At 1 May 2023 170,448
Charge for year 31,723
Transfer to ownership (121,094 )
At 30 April 2024 81,077
NET BOOK VALUE
At 30 April 2024 328,563
At 30 April 2023 441,842

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 143,739 127,078
Other debtors 220,958 109,210
364,697 236,288

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 13,043 10,649
Hire purchase contracts 95,288 94,604
Trade creditors 196,191 193,510
Taxation and social security 47,737 40,900
Other creditors 139,741 140,348
492,000 480,011

REUBEN SMITH (PLANT HIRE) LIMITED (REGISTERED NUMBER: 01430833)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 13,518 23,518
Hire purchase contracts 63,460 92,802
76,978 116,320

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdraft 2,394 -
Bank loans 24,167 34,167
Hire purchase contracts 158,748 187,406
185,309 221,573

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Nigel Rea FCA (Senior Statutory Auditor)
for and on behalf of Mitchells Grievson Limited

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company occupies land owned by Reuben Smith, one of the directors, on a rent free basis.

11. RELATED PARTY DISCLOSURES

The company was under the control of R Smith throughout the current and previous year. R Smith is a director and owns 75% of the share capital.