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REGISTERED NUMBER: 04597651 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

L R D PLANT HIRE LIMITED

L R D PLANT HIRE LIMITED (REGISTERED NUMBER: 04597651)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


L R D PLANT HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: L R Dickin
Mrs B Dickin





SECRETARY: Mrs B Dickin





REGISTERED OFFICE: Sprink House Farm
Morrilow Heath
Leigh
Stoke-On-Trent
Staffordshire
ST10 4PF





REGISTERED NUMBER: 04597651 (England and Wales)





ACCOUNTANTS: Howards Limited
Chartered Certified Accountants
Newport House
Newport Road
Stafford
Staffordshire
ST16 1DA

L R D PLANT HIRE LIMITED (REGISTERED NUMBER: 04597651)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 798,035 678,022
Investment property 6 - 808,880
798,035 1,486,902

CURRENT ASSETS
Stocks 7,500 5,500
Debtors 7 803,173 3,521,505
Prepayments and accrued income 30,852 32,618
Cash at bank 157,584 304,480
999,109 3,864,103
CREDITORS
Amounts falling due within one year 8 (731,231 ) (966,316 )
NET CURRENT ASSETS 267,878 2,897,787
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,065,913

4,384,689

CREDITORS
Amounts falling due after more than one
year

9

(98,715

)

(51,096

)

PROVISIONS FOR LIABILITIES (191,110 ) (160,558 )

ACCRUALS AND DEFERRED INCOME (4,410 ) (4,410 )
NET ASSETS 771,678 4,168,625

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 771,578 4,168,525
771,678 4,168,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

L R D PLANT HIRE LIMITED (REGISTERED NUMBER: 04597651)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


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 19 November 2024 and were signed on its behalf by:




L R Dickin - Director



Mrs B Dickin - Director


L R D PLANT HIRE LIMITED (REGISTERED NUMBER: 04597651)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

LRD Plant Hire Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 4597651 and the registered office address is Sprink House Farm, Morrilow Heath, Leigh, Stoke-on-Trent, ST10 4PF.

The principal activity of the company is that of site preparation and rental of plant and machinery.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Functional currency
The financial statements are prepared in sterling (£). The functional currency of the company is sterling (£).

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in the statement of profit or loss. Where a revaluation gain is recognised, a transfer is then made between retained earnings and a non distributable reserve to recognise that the gain is unrealised.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.Stock is valued using the first in first out method.

L R D PLANT HIRE LIMITED (REGISTERED NUMBER: 04597651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

L R D PLANT HIRE LIMITED (REGISTERED NUMBER: 04597651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. ACCOUNTING POLICIES - continued

Impairment of non financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Going concern
In common with most other businesses we are operating in uncertain times as a result of the Coronavirus and the impact that it has had an all businesses large and small. Although we will be eligible for some Government aid at the moment we do not know how long the situation will continue. The directors are taking all reasonable steps to ensure continued operations and believe that it is appropriate to continue to prepare the accounts on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 29,000 1,344,024 17,589 147,281 1,537,894
Additions - 323,725 - 60,695 384,420
Disposals - (272,000 ) - - (272,000 )
At 30 November 2023 29,000 1,395,749 17,589 207,976 1,650,314
DEPRECIATION
At 1 December 2022 10,440 741,331 10,407 97,694 859,872
Charge for year 1,160 124,839 1,083 27,577 154,659
Eliminated on disposal - (162,252 ) - - (162,252 )
At 30 November 2023 11,600 703,918 11,490 125,271 852,279
NET BOOK VALUE
At 30 November 2023 17,400 691,831 6,099 82,705 798,035
At 30 November 2022 18,560 602,693 7,182 49,587 678,022

L R D PLANT HIRE LIMITED (REGISTERED NUMBER: 04597651)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 808,880
Disposals (808,880 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 808,880

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 803,173 889,137
Amounts owed by group undertakings - 2,632,368
803,173 3,521,505

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,911 9,666
Hire purchase contracts 68,120 13,128
Trade creditors 411,300 610,254
Amounts owed to group undertakings 25,155 -
Taxation and social security 216,745 332,780
Other creditors - 488
731,231 966,316

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 23,541 33,772
Hire purchase contracts 75,174 17,324
98,715 51,096

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 143,294 30,452