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Registration number: 01524463

Arden Plant Limited

trading as Peter Douglass Platforms

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Arden Plant Limited

trading as Peter Douglass Platforms

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Arden Plant Limited

trading as Peter Douglass Platforms

(Registration number: 01524463)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,491,783

1,194,262

Current assets

 

Stocks

5

14,000

5,000

Debtors

6

241,196

198,855

Cash at bank and in hand

 

155,564

204,641

 

410,760

408,496

Creditors: Amounts falling due within one year

7

(368,761)

(414,167)

Net current assets/(liabilities)

 

41,999

(5,671)

Total assets less current liabilities

 

1,533,782

1,188,591

Creditors: Amounts falling due after more than one year

7

(656,294)

(417,507)

Provisions for liabilities

(369,206)

(284,082)

Net assets

 

508,282

487,002

Capital and reserves

 

Called up share capital

100

100

Retained earnings

508,182

486,902

Shareholders' funds

 

508,282

487,002

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Arden Plant Limited

trading as Peter Douglass Platforms

(Registration number: 01524463)
Balance Sheet as at 31 May 2024

Approved and authorised by the director on 26 November 2024
 

.........................................
R Wood
Director

 

Arden Plant Limited

trading as Peter Douglass Platforms

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
26 South St. Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

The principal place of business is:
Hollingworth Road
Bredbury
Stockport
Cheshire
SK6 2AY

These financial statements were authorised for issue by the director on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

These financial statements cover the individual entity, Arden Plant Limited.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Arden Plant Limited

trading as Peter Douglass Platforms

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% straight line

Fixtures and fittings

15% straight line

Motor vehicles

15% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Arden Plant Limited

trading as Peter Douglass Platforms

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Arden Plant Limited

trading as Peter Douglass Platforms

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 16 (2023 - 12).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

12,956

2,695,131

181,170

2,889,257

Additions

-

768,955

-

768,955

Disposals

(10,325)

(256,205)

(137,257)

(403,787)

At 31 May 2024

2,631

3,207,881

43,913

3,254,425

Depreciation

At 1 June 2023

11,873

1,650,692

32,430

1,694,995

Charge for the year

395

276,725

14,704

291,824

Eliminated on disposal

(10,325)

(186,908)

(26,944)

(224,177)

At 31 May 2024

1,943

1,740,509

20,190

1,762,642

Carrying amount

At 31 May 2024

688

1,467,372

23,723

1,491,783

At 31 May 2023

1,083

1,044,439

148,740

1,194,262

5

Stocks

2024
£

2023
£

Other inventories

14,000

5,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

197,846

167,056

Amounts owed by related parties

10

33,348

4,776

Prepayments

 

10,002

27,023

   

241,196

198,855

 

Arden Plant Limited

trading as Peter Douglass Platforms

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

282,236

289,821

Trade creditors

 

23,395

62,413

Taxation and social security

 

31,224

43,169

Accruals and deferred income

 

30,511

16,698

Other creditors

 

1,395

2,066

 

368,761

414,167

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

656,294

417,507

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

41,666

Finance lease liabilities

656,294

375,841

656,294

417,507

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

20,000

Finance lease liabilities

282,236

269,821

282,236

289,821

Other borrowings

Creditors under hire purchase agreements are secured by a fixed charge on the assets they finance.

The total aggregate amount of secured liabilities totalled £936,029 (2023: £707,328)

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

 

Arden Plant Limited

trading as Peter Douglass Platforms

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2024
£

2023
£

Not later than one year

5,340

8,144

Later than one year and not later than five years

-

5,340

5,340

13,484

The amount of non-cancellable operating lease payments recognised as an expense during the year was £8,144 (2023 - £8,144).

10

Related party transactions

Exemption from disclosing related party transactions


The company has taken advantage of the exemption in section 33 of FRS102 "Related Party Disclosures" from disclosing transactions with other members of the group where each member party to the transaction is wholly owned by the group.

11

Parent and ultimate parent undertaking

The Company's immediate parent is Truebury Limited, incorporated in United Kingdom.

  These financial statements are available upon request from the registered office, as stated on page 1.