Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-05-01false4138trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01006015 2023-05-01 2024-04-30 01006015 2024-04-30 01006015 2022-05-01 2023-04-30 01006015 2023-04-30 01006015 c:Director2 2023-05-01 2024-04-30 01006015 d:Buildings 2023-05-01 2024-04-30 01006015 d:Buildings 2024-04-30 01006015 d:Buildings 2023-04-30 01006015 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01006015 d:Buildings d:ShortLeaseholdAssets 2023-05-01 2024-04-30 01006015 d:Buildings d:ShortLeaseholdAssets 2024-04-30 01006015 d:Buildings d:ShortLeaseholdAssets 2023-04-30 01006015 d:PlantMachinery 2023-05-01 2024-04-30 01006015 d:PlantMachinery 2024-04-30 01006015 d:PlantMachinery 2023-04-30 01006015 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01006015 d:MotorVehicles 2023-05-01 2024-04-30 01006015 d:MotorVehicles 2024-04-30 01006015 d:MotorVehicles 2023-04-30 01006015 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01006015 d:OfficeEquipment 2023-05-01 2024-04-30 01006015 d:OfficeEquipment 2024-04-30 01006015 d:OfficeEquipment 2023-04-30 01006015 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01006015 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01006015 d:FreeholdInvestmentProperty 2024-04-30 01006015 d:FreeholdInvestmentProperty 2023-04-30 01006015 d:CurrentFinancialInstruments 2024-04-30 01006015 d:CurrentFinancialInstruments 2023-04-30 01006015 d:Non-currentFinancialInstruments 2024-04-30 01006015 d:Non-currentFinancialInstruments 2023-04-30 01006015 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 01006015 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01006015 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 01006015 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 01006015 d:ShareCapital 2024-04-30 01006015 d:ShareCapital 2023-04-30 01006015 d:CapitalRedemptionReserve 2024-04-30 01006015 d:CapitalRedemptionReserve 2023-04-30 01006015 d:RetainedEarningsAccumulatedLosses 2024-04-30 01006015 d:RetainedEarningsAccumulatedLosses 2023-04-30 01006015 c:FRS102 2023-05-01 2024-04-30 01006015 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 01006015 c:FullAccounts 2023-05-01 2024-04-30 01006015 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01006015 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 01006015













Ward Bros. (Plant Hire) Limited

Financial statements
Information for filing with the registrar

30 April 2024




 
Ward Bros. (Plant Hire) Limited


Balance sheet
At 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,934,418
4,208,858

Investment property
 5 
214,745
214,745

  
5,149,163
4,423,603

Current assets
  

Stocks
  
101,800
250,670

Debtors
 6 
2,020,769
2,292,735

Cash at bank and in hand
  
547,744
413,621

  
2,670,313
2,957,026

Creditors: amounts falling due within one year
 7 
(1,216,502)
(1,531,546)

Net current assets
  
 
 
1,453,811
 
 
1,425,480

Total assets less current liabilities
  
6,602,974
5,849,083

Creditors: amounts falling due after more than one year
 8 
(150,661)
(508,592)

Provisions for liabilities
  

Deferred tax
  
(1,038,087)
(851,965)

  
 
 
(1,038,087)
 
 
(851,965)

Net assets
  
5,414,226
4,488,526


Capital and reserves
  

Called up share capital 
  
60,953
60,953

Capital redemption reserve
  
39,047
39,047

Profit and loss account
  
5,314,226
4,388,526

Shareholders' funds
  
5,414,226
4,488,526


Page 1

 
Ward Bros. (Plant Hire) Limited

    
Balance sheet (continued)
At 30 April 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 January 2025.




JS Ward
Director

Company registered number: 01006015
The notes on pages 3 to 8 form part of these financial statements. 

Page 2

 
Ward Bros. (Plant Hire) Limited
 
 

Notes to the financial statements
Year ended 30 April 2024

1.


General information

The company is a private company limited by shares, incorporated and domiciled in England and Wales. The address of the registered office is Thistle Road, Littleburn Industrial Estate, Langley Moor, Durham, DH7 8HZ.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

 
2.2

Revenue

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

 
2.3

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

Page 3

 
Ward Bros. (Plant Hire) Limited
 

 
Notes to the financial statements
Year ended 30 April 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Site development costs
-
20% straight line
Plant and machinery
-
6% straight line
Motor vehicles
-
20% straight line
Office equipment
-
15%/20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
Ward Bros. (Plant Hire) Limited
 

 
Notes to the financial statements
Year ended 30 April 2024

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers or the directors 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. Changes in fair value are recognised in profit or loss.

 
2.7

Stocks

Stock is valued as follows:-
Fuel - lower of cost and net realisable value
Tyres - at directors' estimated value, being the lower of cost and net realisable value.
Spare parts - at the lower of cost and net realisable value after making due allowance for obsolete stocks.

 
2.8

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

3.


Employees

The average monthly number of employees, including directors, during the year was 41 (2023 - 38).

Page 5

 
Ward Bros. (Plant Hire) Limited
 
 

Notes to the financial statements
Year ended 30 April 2024

4.


Tangible fixed assets





Freehold property
Site dev/ment costs
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 May 2023
1,487,342
869,828
5,728,055
169,437
268,362
8,523,024


Additions
40,690
-
1,275,070
78,574
6,414
1,400,748


Disposals
-
-
(393,463)
-
-
(393,463)



At 30 April 2024

1,528,032
869,828
6,609,662
248,011
274,776
9,530,309



Depreciation


At 1 May 2023
1,099,695
861,906
1,995,688
112,108
244,769
4,314,166


Charge for the year
15,212
3,037
395,636
21,831
9,859
445,575


Disposals
-
-
(163,850)
-
-
(163,850)



At 30 April 2024

1,114,907
864,943
2,227,474
133,939
254,628
4,595,891



Net book value



At 30 April 2024
413,125
4,885
4,382,188
114,072
20,148
4,934,418



At 30 April 2023
387,647
7,922
3,732,367
57,329
23,593
4,208,858


5.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
214,745



At 30 April 2024
214,745

The 2024 valuations were made by the directors, on an open market value for existing use basis.




Page 6

 
Ward Bros. (Plant Hire) Limited
 
 

Notes to the financial statements
Year ended 30 April 2024

6.


Debtors

2024
2023
£
£


Trade debtors
1,573,629
1,548,304

Other debtors
340,525
490,167

Prepayments and accrued income
106,615
254,264

2,020,769
2,292,735



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans
18,000
18,000

Trade creditors
379,670
445,589

Amounts owed to related parties
37,629
53,225

Corporation tax
127,795
208,184

Other taxation and social security
229,181
180,114

Obligations under finance lease and hire purchase contracts
335,765
415,001

Other creditors
45,358
55,642

Accruals and deferred income
43,104
155,791

1,216,502
1,531,546


The following liabilities were secured:

2024
2023
£
£



Bank loans
18,000
18,000

Obligations under hire purchase contracts
335,765
415,001

353,765
433,001

Details of security provided:

The bank loan is secured by a fixed charge over the land included in investment properties. The hire purchase agreements are secured on the assets to which they relate.

Page 7

 
Ward Bros. (Plant Hire) Limited
 
 

Notes to the financial statements
Year ended 30 April 2024

8.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
101,828
120,387

Net obligations under finance leases and hire purchase contracts
48,833
388,205

150,661
508,592


The following liabilities were secured:

2024
2023
£
£



Bank loans
101,828
120,387

Net obligations under hire purrchase contracts
48,833
388,205

150,661
508,592

Details of security provided:

The bank loan is secured by a fixed charge over the land included in investment properties. The hire purchase agreements are secured on the assets to which they relate


9.


Related party transactions

During the year an inter company account was operated between the company and Ward Bros (Durham) Limited to record normal trading transactions. At the year end the amount due to Ward Bros (Durham) Limited was £37,629 (2023 - £53,225).

 
Page 8