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Registered Number: 03258039
England and Wales

 

 

 

P & H PLANT HIRE LTD.


Abridged Accounts
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
Accountants report
You consider that the company is exempt from an audit for the year ended 30 September 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Shaun Brown Accountants Ltd
18th August 2023



....................................................
Shaun Brown Accountants Ltd
14A Hartness Road
Gilwilly Industrial Estate
Penrith
Cumbria
CA11 9BD
30 October 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,706,426    1,525,559 
1,706,426    1,525,559 
Current assets      
Stocks 229,700    104,200 
Debtors 375,967    351,513 
Cash at bank and in hand (2,845)   14,573 
602,822    470,286 
Creditors: amount falling due within one year (361,215)   (265,411)
Net current assets 241,607    204,875 
 
Total assets less current liabilities 1,948,033    1,730,434 
Creditors: amount falling due after more than one year (539,407)   (524,092)
Provisions for liabilities (297,838)   (234,401)
Net assets 1,110,788    971,941 
 

Capital and reserves
     
Called up share capital 4 100    100 
Share premium account 220    220 
Profit and loss account 1,110,468    971,621 
Shareholders' funds 1,110,788    971,941 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 30 October 2024 and were signed on its behalf by:


-------------------------------
Mr N W Purdham
Director
2
General Information
P & H Plant Hire Ltd. is a private company, limited by shares, registered in England and Wales, registration number 03258039, registration address Hallin House, North Lakes Busienss Park, Penrith, Cumbria, CA11 0JG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 33% Reducing Balance
Land and Buildings 5% Reducing Balance
Plant and Machinery 15% Reducing Balance
Computer Equipment 15% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 16 (2022 : 12).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Investment properties   Total
  £   £   £   £   £
At 01 October 2022 707,659    160,458    16,891    685,000    1,570,008 
Additions 591,050    32,190        623,240 
Disposals (44,850)   (19,361)       (64,211)
At 30 September 2023 1,253,859    173,287    16,891    685,000    2,129,037 
Depreciation
At 01 October 2022 284,394    43,699    16,306      344,399 
Charge for year 159,937    20,243    193      180,373 
On disposals (96,789)   (5,372)       (102,161)
At 30 September 2023 347,542    58,570    16,499      422,611 
Net book values
Closing balance as at 30 September 2023 906,317    114,717    392    685,000    1,706,426 
Opening balance as at 01 October 2022 723,215    116,759    585    685,000    1,525,559 

The net book value of Plant and Machinery, Motor Vehicles includes £ 891,312 (2022 £421,062) in respect of assets leased under finance leases or hire purchase contracts.

4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3