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REGISTERED NUMBER: 05381716 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HAC PLANT HIRE LTD

HAC PLANT HIRE LTD (REGISTERED NUMBER: 05381716)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


HAC PLANT HIRE LTD (REGISTERED NUMBER: 05381716)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 578,215 296,554

CURRENT ASSETS
Debtors 5 238,662 194,329
Cash at bank 87,499 90,733
326,161 285,062
CREDITORS
Amounts falling due within one year 6 107,552 53,719
NET CURRENT ASSETS 218,609 231,343
TOTAL ASSETS LESS CURRENT
LIABILITIES

796,824

527,897

PROVISIONS FOR LIABILITIES 7 144,555 56,345
NET ASSETS 652,269 471,552

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 652,267 471,550
SHAREHOLDERS' FUNDS 652,269 471,552

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.

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 16 December 2024 and were signed on its behalf by:





Mrs V A Heydon - Director


HAC PLANT HIRE LTD (REGISTERED NUMBER: 05381716)

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

1. STATUTORY INFORMATION

Hac Plant Hire 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: 05381716

Registered office: 104 High Street
London Colney
St. Albans
Hertfordshire
AL2 1QL

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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue represents amounts receivable in respect of the hiring out of machinery and vehicles, exclusive of value added tax and trade discounts. Revenue is recognised in the period the hire takes place.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% on reducing balance method
Motor vehicles - 25% on reducing balance method

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.


HAC PLANT HIRE LTD (REGISTERED NUMBER: 05381716)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material 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.

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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 932,895 248,829 1,181,724
Additions 414,606 59,803 474,409
Disposals - (10,610 ) (10,610 )
At 31 March 2024 1,347,501 298,022 1,645,523
DEPRECIATION
At 1 April 2023 670,781 214,389 885,170
Charge for year 169,180 23,568 192,748
Eliminated on disposal - (10,610 ) (10,610 )
At 31 March 2024 839,961 227,347 1,067,308
NET BOOK VALUE
At 31 March 2024 507,540 70,675 578,215
At 31 March 2023 262,114 34,440 296,554

HAC PLANT HIRE LTD (REGISTERED NUMBER: 05381716)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by connected companies 213,874 191,926
Other debtors 24,788 2,403
238,662 194,329

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 2,418
Trade creditors 19,344 5,645
Taxation and social security 84,270 42,542
Other creditors 3,938 3,114
107,552 53,719

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 88,210 54,553
Deferred tax 56,345 1,792
144,555 56,345

Deferred
tax
£   
Balance at 1 April 2023 56,345
Provided during year 88,210
Balance at 31 March 2024 144,555

8. RELATED PARTY DISCLOSURES

Included in other debtors is an amount of £213,874 (2023: £191,926) owed from the connected companies.
The loan was interest-free and repayable on demand.