REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
CAMBERWELL PLANT HIRE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
CAMBERWELL PLANT HIRE LIMITED |
CAMBERWELL PLANT HIRE LIMITED (REGISTERED NUMBER: 05119112) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
CAMBERWELL PLANT HIRE LIMITED (REGISTERED NUMBER: 05119112) |
BALANCE SHEET |
31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
CAMBERWELL PLANT HIRE LIMITED (REGISTERED NUMBER: 05119112) |
BALANCE SHEET - continued |
31 MAY 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
CAMBERWELL PLANT HIRE LIMITED (REGISTERED NUMBER: 05119112) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Camberwell Plant Hire Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. |
Turnover represents the rendering of goods and services in connection with plant hire operations, third party haulage and gas oil sales. |
Turnover is recognised when the entity meets the obligations to deliver goods and services to a customer in accordance with the terms and conditions of the sale. |
Intangible assets |
Goodwill, being the value of databases and reputation of a prior business acquisition, is being amortised over 18 years. |
Website development is being amortised over 5 years. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Improvements to Property | - Straight line over 6 years |
Fixtures and Fittings | - Straight line over 5 years |
Computer Equipment | - Straight line over 4 years |
Plant and Machinery | - Straight line over 3 - 8 years |
Motor Vehicles | - Straight line over 5 years |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Financial instruments |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
CAMBERWELL PLANT HIRE LIMITED (REGISTERED NUMBER: 05119112) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Going concern |
Having considered the company's projected performance and expected cashflows, the director has concluded that the company will be able to meet its liabilities as they fall due and is a going concern. As a result, these financial statements are prepared on a going concern basis. |
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 or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. |
3. | EMPLOYEES |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Computer |
Goodwill | software | Totals |
£ | £ | £ |
COST |
At 1 June 2023 |
and 31 May 2024 |
AMORTISATION |
At 1 June 2023 |
Amortisation for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
CAMBERWELL PLANT HIRE LIMITED (REGISTERED NUMBER: 05119112) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 June 2023 |
Additions |
Disposals | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2023 |
Additions |
Disposals | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
Within other debtors are amounts owed by a company under common control of £90,873 (2023: £89,387). |
CAMBERWELL PLANT HIRE LIMITED (REGISTERED NUMBER: 05119112) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Social security and other taxes |
VAT | 72,428 | 28,535 |
Other creditors |
Invoice financing loan | 104,354 | 97,435 |
Accrued expenses |
National Westminster Bank PLC and Close Brothers Limited each hold fixed and floating charges over the assets of the company. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts (see note 9) |
Directors loan account | 403,718 | 340,933 |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 102,000 | 42,000 |
CAMBERWELL PLANT HIRE LIMITED (REGISTERED NUMBER: 05119112) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
10. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 June 2023 |
Charge to Income Statement during year |
Balance at 31 May 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
A Ordinary | £1 | 20,000 | 20,000 |
B Ordinary | £1 | 6,250 | 5,000 |
26,250 | 25,000 |
1,250 B Ordinary shares of £1 each were allotted and fully paid for |
The B Ordinary shares carry one vote for every two shares held, carry a discretionary right to receive dividends, and carry rights to participate on a return of capital. |