Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31No description of principal activity2023-06-01false2525falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02126858 2023-06-01 2024-05-31 02126858 2022-06-01 2023-05-31 02126858 2024-05-31 02126858 2023-05-31 02126858 c:Director1 2023-06-01 2024-05-31 02126858 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 02126858 d:Buildings d:LongLeaseholdAssets 2024-05-31 02126858 d:Buildings d:LongLeaseholdAssets 2023-05-31 02126858 d:PlantMachinery 2023-06-01 2024-05-31 02126858 d:PlantMachinery 2024-05-31 02126858 d:PlantMachinery 2023-05-31 02126858 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02126858 d:MotorVehicles 2023-06-01 2024-05-31 02126858 d:MotorVehicles 2024-05-31 02126858 d:MotorVehicles 2023-05-31 02126858 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02126858 d:OfficeEquipment 2023-06-01 2024-05-31 02126858 d:OfficeEquipment 2024-05-31 02126858 d:OfficeEquipment 2023-05-31 02126858 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02126858 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02126858 d:LeaseholdInvestmentProperty 2024-05-31 02126858 d:LeaseholdInvestmentProperty 2023-05-31 02126858 d:LeaseholdInvestmentProperty 2 2023-06-01 2024-05-31 02126858 d:LeaseholdInvestmentProperty 3 2023-06-01 2024-05-31 02126858 d:CurrentFinancialInstruments 2024-05-31 02126858 d:CurrentFinancialInstruments 2023-05-31 02126858 d:Non-currentFinancialInstruments 2024-05-31 02126858 d:Non-currentFinancialInstruments 2023-05-31 02126858 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 02126858 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 02126858 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 02126858 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 02126858 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 02126858 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 02126858 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 02126858 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 02126858 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 02126858 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 02126858 d:ShareCapital 2024-05-31 02126858 d:ShareCapital 2023-05-31 02126858 d:RevaluationReserve 2024-05-31 02126858 d:RevaluationReserve 2023-05-31 02126858 d:RetainedEarningsAccumulatedLosses 2024-05-31 02126858 d:RetainedEarningsAccumulatedLosses 2023-05-31 02126858 c:FRS102 2023-06-01 2024-05-31 02126858 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 02126858 c:FullAccounts 2023-06-01 2024-05-31 02126858 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02126858 d:HirePurchaseContracts d:WithinOneYear 2024-05-31 02126858 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 02126858 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-05-31 02126858 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 02126858 2 2023-06-01 2024-05-31 02126858 5 2023-06-01 2024-05-31 02126858 d:Buildings d:LeasedAssetsHeldAsLessee 2024-05-31 02126858 d:Buildings d:LeasedAssetsHeldAsLessee 2023-05-31 02126858 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-05-31 02126858 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-31 02126858 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-05-31 02126858 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-31 02126858 d:LeasedAssetsHeldAsLessee 2024-05-31 02126858 d:LeasedAssetsHeldAsLessee 2023-05-31 02126858 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 02126858










G B DIGGER HIRE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
G B DIGGER HIRE LIMITED
REGISTERED NUMBER: 02126858

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,819,500
9,115,826

Investment property
  
2,054,741
1,671,402

  
11,874,241
10,787,228

Current assets
  

Stocks
  
433,169
390,374

Debtors: amounts falling due within one year
 6 
4,301,500
2,878,150

Cash at bank and in hand
  
505,328
858

  
5,239,997
3,269,382

Creditors: amounts falling due within one year
 7 
(3,495,190)
(2,640,762)

Net current assets
  
 
 
1,744,807
 
 
628,620

Total assets less current liabilities
  
13,619,048
11,415,848

Creditors: amounts falling due after more than one year
  
(4,131,822)
(2,822,733)

Provisions for liabilities
  

Deferred tax
  
(2,022,564)
(1,591,061)

  
 
 
(2,022,564)
 
 
(1,591,061)

Net assets
  
7,464,662
7,002,054


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
409,357
185,759

Profit and loss account
  
7,055,205
6,816,195

  
7,464,662
7,002,054


Page 1

 
G B DIGGER HIRE LIMITED
REGISTERED NUMBER: 02126858
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 income statement 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 by: 




................................................
G Byrne
Director

Date: 25 February 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

G B Digger Hire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02126858. The registered office is Woodland Farm Industrial Estate, Shortthorn Road, Stratton Strawless, Norwich, NR10 5NU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company
and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set
out below. These policies have been consistently applied to all years presented unless otherwise
stated.

The following principal accounting policies have been applied:

Page 3

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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 reporting 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 reporting 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 reporting date.


 
2.8

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.

Page 5

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Leasehold property
-
10%
Straight-line
Plant and machinery
-
15%
Reducing balance
Motor vehicles
-
15%
Reducing balance
Excavators, mini diggers and equipment
-
15%
Reducing balance

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.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Investment property

Investment property is carried at fair value determined annually by 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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

Page 6

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

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.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 25).

Page 7

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Excavators, mini diggers and equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
947,651
5,229,553
531,352
6,599,407
13,307,963


Additions
-
1,046,326
210,298
1,469,980
2,726,604


Disposals
-
(186,928)
(23,613)
(627,950)
(838,491)


Transfers between classes
(196,466)
-
-
-
(196,466)



At 31 May 2024

751,185
6,088,951
718,037
7,441,437
14,999,610



Depreciation


At 1 June 2023
330,443
1,965,230
189,277
1,707,187
4,192,137


Charge for the year on owned assets
94,765
572,617
64,793
770,174
1,502,349


Disposals
-
(121,071)
(7,285)
(349,294)
(477,650)


Transfers between classes
(36,726)
-
-
-
(36,726)



At 31 May 2024

388,482
2,416,776
246,785
2,128,067
5,180,110



Net book value



At 31 May 2024
362,703
3,672,175
471,252
5,313,370
9,819,500



At 31 May 2023
617,208
3,264,323
342,075
4,892,220
9,115,826

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
1,859,546
1,625,508

Motor vehicles
327,426
222,324

Excavators, mini diggers and equipment
3,903,190
2,754,741

6,090,162
4,602,573

Page 8

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Investments


Freehold Investment Property

£



Valuation


At 1 June 2023
1,671,403


Surplus on revaluation
223,598


Transfers between classes
159,740



At 31 May 2024
2,054,741

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





6.


Debtors

2024
2023
£
£


Trade debtors
984,735
861,688

Amounts owed by joint ventures and associated undertakings
544,512
536,197

Other debtors
2,637,818
1,470,708

Prepayments and accrued income
134,435
9,557

4,301,500
2,878,150


Page 9

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
289,896

Bank loans
306,053
164,125

Trade creditors
724,842
945,241

Amounts owed to associates
98,852
43,785

Other taxation and social security
36,662
31,943

Obligations under finance lease and hire purchase contracts
1,646,032
1,119,224

Other creditors
622,950
2,333

Accruals and deferred income
59,799
44,215

3,495,190
2,640,762


Hire purchase contracts are secured on the assets to which they relate.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
840,407
200,301

Net obligations under finance leases and hire purchase contracts
3,291,415
2,622,432

4,131,822
2,822,733


Hire purchase contracts are secured on the assets to which they relate.

Page 10

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
306,053
164,125


306,053
164,125

Amounts falling due 1-2 years

Bank loans
262,303
121,100


262,303
121,100

Amounts falling due 2-5 years

Bank loans
531,032
79,201


531,032
79,201

Amounts falling due after more than 5 years

Bank loans
47,072
-

47,072
-

1,146,460
364,426



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
1,646,032
1,119,224

Between 1-5 years
3,291,415
2,622,432

4,937,447
3,741,656

Page 11

 
G B DIGGER HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £13,734 (2023: £9,643).
Contributions totalling £407 (2023: £2,333) were payable to the fund at the reporting date and are
included in creditors.


12.


Related party transactions

During the year, the company has traded with G B Digger Hire, a business under common control. An
interbusiness loan account existed throughout the year, and the amount outstanding at the year end
included within other debtors amounted to £414,573 (2023: £1,429,515).

 
Page 12