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Registered number: 02678288










LETCHWORTH PLANT HIRE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
LETCHWORTH PLANT HIRE LIMITED
REGISTERED NUMBER: 02678288

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,879
161

  
18,879
161

Current assets
  

Debtors: amounts falling due within one year
 5 
3,660
20,956

Cash at bank and in hand
  
5,015
4,345

  
8,675
25,301

Creditors: amounts falling due within one year
 6 
(5,051)
(1,108)

Net current assets
  
 
 
3,624
 
 
24,193

Total assets less current liabilities
  
22,503
24,354

  

Net assets
  
22,503
24,354


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
22,403
24,254

  
22,503
24,354


Page 1

 
LETCHWORTH PLANT HIRE LIMITED
REGISTERED NUMBER: 02678288
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The director considers 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 director acknowledges his 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 income and retained earnings 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 7 February 2025.




J S Strachan
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LETCHWORTH PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.Accounting policies

 
1.1

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 following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

 
1.3

Interest income

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

 
1.4

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 3

 
LETCHWORTH PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.Accounting policies (continued)


1.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
Motor vehicles
-
15%
reducing balance
Fixtures and fittings
-
20%
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.

 
1.5

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.

 
1.6

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.

 
1.7

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.


General information

Letchworth Plant Hire Limited is a private company, limited by shares and incorporated in England.
Its registered number is:  02678288
Its registered office is:
1c Ashtons Lane
Baldock
Hertfordshire
SG7 6JJ

Page 4

 
LETCHWORTH PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 -£NIL).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 September 2023
-
-
750
750


Additions
8,259
16,741
-
25,000



At 31 August 2024

8,259
16,741
750
25,750



Depreciation


At 1 September 2023
-
-
589
589


Charge for the year on owned assets
2,065
4,185
32
6,282



At 31 August 2024

2,065
4,185
621
6,871



Net book value



At 31 August 2024
6,194
12,556
129
18,879



At 31 August 2023
-
-
161
161


5.


Debtors

2024
2023
£
£


Trade debtors
200
190

Amounts owed by related parties
3,310
20,600

Other debtors
150
166

3,660
20,956


Page 5

 
LETCHWORTH PLANT HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,180
758

Amounts owed to related parties
20
-

Other taxation and social security
1
-

Accruals and deferred income
850
350

5,051
1,108


 
Page 6