Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsetrue2023-04-01Plant hire33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03697048 2023-04-01 2024-03-31 03697048 2022-04-01 2023-03-31 03697048 2024-03-31 03697048 2023-03-31 03697048 2022-04-01 03697048 c:Director2 2023-04-01 2024-03-31 03697048 d:PlantMachinery 2023-04-01 2024-03-31 03697048 d:PlantMachinery 2024-03-31 03697048 d:PlantMachinery 2023-03-31 03697048 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03697048 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03697048 d:MotorVehicles 2023-04-01 2024-03-31 03697048 d:MotorVehicles 2024-03-31 03697048 d:MotorVehicles 2023-03-31 03697048 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03697048 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03697048 d:OfficeEquipment 2023-04-01 2024-03-31 03697048 d:OfficeEquipment 2024-03-31 03697048 d:OfficeEquipment 2023-03-31 03697048 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03697048 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03697048 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03697048 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03697048 d:Goodwill 2023-04-01 2024-03-31 03697048 d:Goodwill 2024-03-31 03697048 d:Goodwill 2023-03-31 03697048 d:CurrentFinancialInstruments 2024-03-31 03697048 d:CurrentFinancialInstruments 2023-03-31 03697048 d:Non-currentFinancialInstruments 2024-03-31 03697048 d:Non-currentFinancialInstruments 2023-03-31 03697048 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03697048 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03697048 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03697048 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03697048 d:ShareCapital 2024-03-31 03697048 d:ShareCapital 2023-03-31 03697048 d:RetainedEarningsAccumulatedLosses 2024-03-31 03697048 d:RetainedEarningsAccumulatedLosses 2023-03-31 03697048 c:FRS102 2023-04-01 2024-03-31 03697048 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03697048 c:FullAccounts 2023-04-01 2024-03-31 03697048 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03697048 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03697048 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03697048 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-03-31 03697048 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 03697048 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 03697048 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 03697048 d:LeasedAssetsHeldAsLessee 2024-03-31 03697048 d:LeasedAssetsHeldAsLessee 2023-03-31 03697048 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 03697048










WESTFIELD PLANT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
WESTFIELD PLANT LIMITED
REGISTERED NUMBER: 03697048

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

Tangible assets
 5 
243,319
173,974

  
243,320
173,975

Current assets
  

Debtors: amounts falling due within one year
 6 
14,219
17,628

Cash at bank and in hand
  
108,551
112,276

  
122,770
129,904

Creditors: amounts falling due within one year
 7 
(48,263)
(61,629)

Net current assets
  
 
 
74,507
 
 
68,275

Total assets less current liabilities
  
317,827
242,250

Creditors: amounts falling due after more than one year
 8 
(38,510)
(25,219)

Provisions for liabilities
  

Deferred tax
 9 
(46,148)
(32,973)

Net assets
  
233,169
184,058


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
233,069
183,958

  
233,169
184,058


Page 1

 
WESTFIELD PLANT LIMITED
REGISTERED NUMBER: 03697048
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 November 2024.



M Flint
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WESTFIELD PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Westfield Plant Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 03697048). Its registered office is West Field, 58 Mill Road, Magdalen, King's Lynn, PE34 3BZ. The principal activity of the Company throughout the year continued to be that of the hire of plant and equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
WESTFIELD PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Plant and machinery
-
20%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Office equipment
-
15%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnigns. 

Page 4

 
WESTFIELD PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

 
2.6

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
WESTFIELD PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
1



At 31 March 2024

1






Net book value



At 31 March 2024
1



At 31 March 2023
1



Page 6

 
WESTFIELD PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
325,095
17,432
5,980
348,507


Additions
184,385
-
-
184,385


Disposals
(125,125)
-
-
(125,125)



At 31 March 2024

384,355
17,432
5,980
407,767



Depreciation


At 1 April 2023
166,972
5,046
2,515
174,533


Charge for the year on owned assets
16,951
-
520
17,471


Charge for the year on financed assets
17,318
2,988
-
20,306


Disposals
(47,862)
-
-
(47,862)



At 31 March 2024

153,379
8,034
3,035
164,448



Net book value



At 31 March 2024
230,976
9,398
2,945
243,319



At 31 March 2023
158,123
12,386
3,465
173,974

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
155,860
49,930

Motor vehicles
8,965
11,953

164,825
61,883

Page 7

 
WESTFIELD PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
13,270
16,798

Prepayments and accrued income
949
830

14,219
17,628



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
6,000
6,000

Trade creditors
600
2,985

Corporation tax
3,725
15,198

Other taxation and social security
6,706
6,775

Obligations under hire purchase contracts
22,772
12,644

Other creditors
8,460
18,027

48,263
61,629



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,000
14,000

Obligations under hire purchase contracts
30,510
11,219

38,510
25,219


Included within creditors are secured liabilities in respect of obligations under hire purchase contracts as detailed above in creditors due in both less than one year and more than one year. 

Page 8

 
WESTFIELD PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
32,973
40,253


Charged to profit or loss
13,175
(7,280)



At end of year
46,148
32,973

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
46,148
32,973

 
Page 9