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Registered number: 06884816
N G Plant Hire Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
R Stride & Co LLP
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 06884816
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 97,538 102,412
Investment Properties 5 123,506 123,506
221,044 225,918
CURRENT ASSETS
Stocks 6 7,525 14,874
Debtors 7 48,291 16,573
Cash at bank and in hand 7,583 6,166
63,399 37,613
Creditors: Amounts Falling Due Within One Year 8 (125,383 ) (142,450 )
NET CURRENT ASSETS (LIABILITIES) (61,984 ) (104,837 )
TOTAL ASSETS LESS CURRENT LIABILITIES 159,060 121,081
Creditors: Amounts Falling Due After More Than One Year 9 (32,150 ) (51,636 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (56,479 )
NET ASSETS 126,910 12,966
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 126,810 12,866
SHAREHOLDERS' FUNDS 126,910 12,966
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nigel Gill
Director
10th January 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 July 2022 100 51,521 51,621
Loss for the year and total comprehensive income - (28,655 ) (28,655)
Dividends paid - (10,000) (10,000)
As at 30 June 2023 and 1 July 2023 100 12,866 12,966
Profit for the year and total comprehensive income - 113,944 113,944
As at 30 June 2024 100 126,810 126,910
Page 3
Page 4
Notes to the Financial Statements
1. General Information
N G Plant Hire Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06884816 . The registered office is Westfield Yard, Terrington, York, YO60 6PB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20%
Motor Vehicles 25%
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 4
Page 5
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 526,363 11,350 537,713
Additions 31,945 - 31,945
Disposals (52,070 ) - (52,070 )
As at 30 June 2024 506,238 11,350 517,588
Depreciation
As at 1 July 2023 424,535 10,766 435,301
Provided during the period 24,275 146 24,421
Disposals (39,672 ) - (39,672 )
As at 30 June 2024 409,138 10,912 420,050
Net Book Value
As at 30 June 2024 97,100 438 97,538
As at 1 July 2023 101,828 584 102,412
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 123,506
Page 5
Page 6
6. Stocks
2024 2023
£ £
Stock and work in progress 7,525 14,874
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 40,034 11,162
Other debtors 8,257 5,411
48,291 16,573
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 28,154 37,234
Trade creditors 28,128 44,116
Bank loans and overdrafts 10,143 10,134
Other creditors 13,119 27,355
Taxation and social security 45,839 23,611
125,383 142,450
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,774 26,126
Bank loans 15,376 25,510
32,150 51,636
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 28,154 37,234
Later than one year and not later than five years 16,774 26,126
44,928 63,360
44,928 63,360
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6