Registered number
06825291
Wessex Plant Hire Ltd
Filleted Accounts
30 April 2024
Wessex Plant Hire Ltd
Registered number: 06825291
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 19,680 22,140
Tangible assets 4 537,625 608,955
557,305 631,095
Current assets
Debtors 5 101,563 129,167
Cash at bank and in hand 26,293 25,854
127,856 155,021
Creditors: amounts falling due within one year 6 (183,007) (236,791)
Net current liabilities (55,151) (81,770)
Total assets less current liabilities 502,154 549,325
Creditors: amounts falling due after more than one year 7 (125,943) (152,571)
Provisions for liabilities (102,149) (115,702)
Net assets 274,062 281,052
Capital and reserves
Called up share capital 200 100
Share premium 99,900 -
Profit and loss account 173,962 280,952
Shareholders' funds 274,062 281,052
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 P R Sparkes
Director
Approved by the board on 3 January 2025
Wessex 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:
Plant and machinery 15% on cost
Motor vehicles 25% 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 39,600
At 30 April 2024 39,600
Amortisation
At 1 May 2023 17,460
Provided during the year 2,460
At 30 April 2024 19,920
Net book value
At 30 April 2024 19,680
At 30 April 2023 22,140
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 1,478,436 16,217 1,494,653
Additions 154,512 - 154,512
Disposals (330,212) (2,692) (332,904)
At 30 April 2024 1,302,736 13,525 1,316,261
Depreciation
At 1 May 2023 878,610 7,088 885,698
Charge for the year 182,978 1,944 184,922
On disposals (290,644) (1,340) (291,984)
At 30 April 2024 770,944 7,692 778,636
Net book value
At 30 April 2024 531,792 5,833 537,625
At 30 April 2023 599,826 9,129 608,955
5 Debtors 2024 2023
£ £
Trade debtors 101,353 123,306
Other debtors 210 5,861
101,563 129,167
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 9,960
Obligations under finance lease and hire purchase contracts 120,594 136,225
Trade creditors 16,492 21,869
Taxation and social security costs 10,615 20,130
Other creditors 25,306 48,607
183,007 236,791
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,500 22,540
Obligations under finance lease and hire purchase contracts 113,443 130,031
125,943 152,571
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 280,617 133,151
9 Other information
Wessex Plant Hire Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8 Dodington Spring
Codrington
Chipping Sodbury
South Gloucestershire
BS37 6RX
Wessex Plant Hire Ltd 06825291 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts July 2024 Mr P R Sparkes No description of principal activity 06825291 2022-05-01 2023-04-30 06825291 core:WithinOneYear 2023-04-30 06825291 core:AfterOneYear 2023-04-30 06825291 core:ShareCapital 2023-04-30 06825291 core:SharePremium 2023-04-30 06825291 core:RetainedEarningsAccumulatedLosses 2023-04-30 06825291 core:AllPeriods 2023-04-30 06825291 2023-05-01 2024-04-30 06825291 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06825291 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06825291 bus:Director40 2023-05-01 2024-04-30 06825291 1 2023-05-01 2024-04-30 06825291 2 2023-05-01 2024-04-30 06825291 core:Goodwill 2023-05-01 2024-04-30 06825291 core:PlantMachinery 2023-05-01 2024-04-30 06825291 core:Vehicles 2023-05-01 2024-04-30 06825291 countries:England 2023-05-01 2024-04-30 06825291 bus:FRS102 2023-05-01 2024-04-30 06825291 bus:FilletedAccounts 2023-05-01 2024-04-30 06825291 2024-04-30 06825291 core:WithinOneYear 2024-04-30 06825291 core:AfterOneYear 2024-04-30 06825291 core:ShareCapital 2024-04-30 06825291 core:SharePremium 2024-04-30 06825291 core:RetainedEarningsAccumulatedLosses 2024-04-30 06825291 core:Goodwill 2024-04-30 06825291 core:PlantMachinery 2024-04-30 06825291 core:Vehicles 2024-04-30 06825291 core:AllPeriods 2024-04-30 06825291 2023-04-30 06825291 core:Goodwill 2023-04-30 06825291 core:PlantMachinery 2023-04-30 06825291 core:Vehicles 2023-04-30 iso4217:GBP xbrli:pure