Registered number
06210740
M & P Plant Hire Ltd
Filleted Accounts
30 April 2024
M & P Plant Hire Ltd
Registered number: 06210740
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 109,493 44,060
Current assets
Debtors 4 1,757 1,660
Cash at bank and in hand 53,633 37,939
55,390 39,599
Creditors: amounts falling due within one year 5 (29,776) (31,205)
Net current assets 25,614 8,394
Total assets less current liabilities 135,107 52,454
Creditors: amounts falling due after more than one year 6 (73,877) (24,955)
Net assets 61,230 27,499
Capital and reserves
Called up share capital 100 100
Profit and loss account 61,130 27,399
Shareholders' funds 61,230 27,499
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Vaughan
Director
Approved by the board on 12 January 2025
M & P Plant Hire Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Plant and Machinery 25% straight line
Leased Plant and machinery 20% straight line
Fixtures, fittings, tools and equipment 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures, fittings & equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 2,387 118,536 29,184 150,107
Additions - 127,040 - 127,040
Disposals - (97,750) - (97,750)
At 30 April 2024 2,387 147,826 29,184 179,397
Depreciation
At 1 May 2023 1,537 91,742 12,768 106,047
Charge for the year 128 32,938 4,104 37,170
On disposals - (73,313) - (73,313)
At 30 April 2024 1,665 51,367 16,872 69,904
Net book value
At 30 April 2024 722 96,459 12,312 109,493
At 30 April 2023 850 26,794 16,416 44,060
4 Debtors 2024 2023
£ £
Other debtors 1,757 1,660
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 21,869 17,595
Taxation and social security costs 7,076 12,779
Other creditors 831 831
29,776 31,205
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 72,896 24,926
Other creditors 981 29
73,877 24,955
7 Other information
M & P Plant Hire Ltd is a private company limited by shares and incorporated in England. Its registered office is:
43 Fisherton Street
Salisbury
Wiltshire
SP2 7SU
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