IRIS Accounts Production v24.3.0.553 06126114 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh061261142023-03-31061261142024-03-31061261142023-04-012024-03-31061261142022-03-31061261142022-04-012023-03-31061261142023-03-3106126114ns15:EnglandWales2023-04-012024-03-3106126114ns14:PoundSterling2023-04-012024-03-3106126114ns10:Director12023-04-012024-03-3106126114ns10:Director22023-04-012024-03-3106126114ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106126114ns10:SmallEntities2023-04-012024-03-3106126114ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106126114ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106126114ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106126114ns10:FullAccounts2023-04-012024-03-310612611412023-04-012024-03-3106126114ns5:CurrentFinancialInstruments2024-03-3106126114ns5:CurrentFinancialInstruments2023-03-3106126114ns5:ShareCapital2024-03-3106126114ns5:ShareCapital2023-03-3106126114ns5:RetainedEarningsAccumulatedLosses2024-03-3106126114ns5:RetainedEarningsAccumulatedLosses2023-03-3106126114ns10:RegisteredOffice2023-04-012024-03-3106126114ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3106126114ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3106126114ns5:PlantMachinery2023-04-012024-03-3106126114ns5:MotorVehicles2023-04-012024-03-3106126114ns5:NetGoodwill2023-03-3106126114ns5:NetGoodwill2024-03-3106126114ns5:NetGoodwill2023-03-3106126114ns5:LandBuildings2023-03-3106126114ns5:PlantMachinery2023-03-3106126114ns5:MotorVehicles2023-03-3106126114ns5:LandBuildings2023-04-012024-03-3106126114ns5:LandBuildings2024-03-3106126114ns5:PlantMachinery2024-03-3106126114ns5:MotorVehicles2024-03-3106126114ns5:LandBuildings2023-03-3106126114ns5:PlantMachinery2023-03-3106126114ns5:MotorVehicles2023-03-3106126114ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106126114ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 06126114 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

EUROQUIP NEWENT LTD

EUROQUIP NEWENT LTD (REGISTERED NUMBER: 06126114)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


EUROQUIP NEWENT LTD (REGISTERED NUMBER: 06126114)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 81,185 96,117
81,185 96,117

CURRENT ASSETS
Stocks 74,712 128,650
Debtors 6 101,550 99,928
Cash at bank and in hand 292,147 322,463
468,409 551,041
CREDITORS
Amounts falling due within one year 7 55,808 122,142
NET CURRENT ASSETS 412,601 428,899
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,786

525,016

PROVISIONS FOR LIABILITIES 9,882 13,066
NET ASSETS 483,904 511,950

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 483,804 511,850
SHAREHOLDERS' FUNDS 483,904 511,950

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

EUROQUIP NEWENT LTD (REGISTERED NUMBER: 06126114)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:




S Bennett - Director



P R Sheen - Director


EUROQUIP NEWENT LTD (REGISTERED NUMBER: 06126114)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Euroquip Newent Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06126114

Registered office: Strawberry Hill Business Park
Newent
Gloucestershire
GL18 1LH

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.

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

Turnover is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

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.

Intangible fixed assets consist of goodwill. Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill, relating to the acquisition of a business in 2007, has now been fully amortised in this year's financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Property improvements - 5% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and estimated selling prices less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and directors loans.

Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.


EUROQUIP NEWENT LTD (REGISTERED NUMBER: 06126114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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

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.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Going concern
The directors have considered the risks and issues concerning the company and its activities, and no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern have been identified by the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 8 ) .

EUROQUIP NEWENT LTD (REGISTERED NUMBER: 06126114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 35,000
AMORTISATION
At 1 April 2023
and 31 March 2024 35,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Property Plant and Motor
improvements machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 59,654 150,934 98,565 309,153
Additions - 1,512 - 1,512
Disposals - (3,001 ) (3,600 ) (6,601 )
At 31 March 2024 59,654 149,445 94,965 304,064
DEPRECIATION
At 1 April 2023 15,803 116,388 80,845 213,036
Charge for year 2,193 8,743 4,302 15,238
Eliminated on disposal - (2,308 ) (3,087 ) (5,395 )
At 31 March 2024 17,996 122,823 82,060 222,879
NET BOOK VALUE
At 31 March 2024 41,658 26,622 12,905 81,185
At 31 March 2023 43,851 34,546 17,720 96,117

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 87,021 98,107
Other debtors 10,618 -
Prepayments 3,911 1,821
101,550 99,928

EUROQUIP NEWENT LTD (REGISTERED NUMBER: 06126114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 32,405 77,918
Corporation tax - 24,352
Social security and other taxes 2,754 -
VAT 16,971 14,998
Other creditors 373 779
Accrued expenses 3,305 4,095
55,808 122,142

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
H Bennett deceased
Balance outstanding at start of year - (11,120 )
Amounts advanced - 21,070
Amounts repaid - (9,950 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

No interest has been charged on the balance above, and there are no set repayment terms.

9. RELATED PARTY DISCLOSURES

The company occupies premises owned by the director. No rent is charged.