Plant Welding Holdings Limited 00758454 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of renting property and leasing equipment Digita Accounts Production Advanced 6.30.9574.0 true false 00758454 2023-07-01 2024-06-30 00758454 2024-06-30 00758454 core:CapitalRedemptionReserve 2024-06-30 00758454 core:OtherReservesSubtotal 2024-06-30 00758454 core:RetainedEarningsAccumulatedLosses 2024-06-30 00758454 core:ShareCapital 2024-06-30 00758454 core:SharePremium 2024-06-30 00758454 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 00758454 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 00758454 core:FurnitureFittingsToolsEquipment 2024-06-30 00758454 core:LandBuildings 2024-06-30 00758454 core:OtherPropertyPlantEquipment 2024-06-30 00758454 bus:SmallEntities 2023-07-01 2024-06-30 00758454 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 00758454 bus:FilletedAccounts 2023-07-01 2024-06-30 00758454 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 00758454 bus:RegisteredOffice 2023-07-01 2024-06-30 00758454 bus:CompanySecretaryDirector1 2023-07-01 2024-06-30 00758454 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00758454 bus:Agent1 2023-07-01 2024-06-30 00758454 core:FurnitureFittings 2023-07-01 2024-06-30 00758454 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 00758454 core:LandBuildings 2023-07-01 2024-06-30 00758454 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 00758454 core:PlantMachinery 2023-07-01 2024-06-30 00758454 countries:EnglandWales 2023-07-01 2024-06-30 00758454 2023-06-30 00758454 core:FurnitureFittingsToolsEquipment 2023-06-30 00758454 core:LandBuildings 2023-06-30 00758454 core:OtherPropertyPlantEquipment 2023-06-30 00758454 2022-07-01 2023-06-30 00758454 2023-06-30 00758454 core:CapitalRedemptionReserve 2023-06-30 00758454 core:OtherReservesSubtotal 2023-06-30 00758454 core:RetainedEarningsAccumulatedLosses 2023-06-30 00758454 core:ShareCapital 2023-06-30 00758454 core:SharePremium 2023-06-30 00758454 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 00758454 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 00758454 core:CostValuation 2023-06-30 00758454 core:FurnitureFittingsToolsEquipment 2023-06-30 00758454 core:LandBuildings 2023-06-30 00758454 core:OtherPropertyPlantEquipment 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 00758454

Plant Welding Holdings Limited

Unaudited Abridged Financial Statements

(Companies House version)

for the Year Ended 30 June 2024

 

Plant Welding Holdings Limited

Contents

Accountants' Report

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Plant Welding Holdings Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Plant Welding Holdings Limited for the year ended 30 June 2024 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Plant Welding Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Plant Welding Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Plant Welding Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Plant Welding Holdings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Plant Welding Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Plant Welding Holdings Limited. You consider that Plant Welding Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Plant Welding Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Page Kirk LLP
Chartered Accountants
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

13 March 2025

 

Plant Welding Holdings Limited

(Registration number: 00758454)
Abridged Balance Sheet as at 30 June 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

115,799

 

122,760

Investment properties

 

1,286,000

 

1,251,000

Investments

 

226,258

 

226,258

   

1,628,057

 

1,600,018

Current assets

   

 

Debtors

57,234

 

107,817

 

Cash at bank and in hand

 

347,636

 

288,168

 

 

404,870

 

395,985

 

Creditors: Amounts falling due within one year

(301,240)

 

(293,829)

 

Net current assets

   

103,630

 

102,156

Total assets less current liabilities

   

1,731,687

 

1,702,174

Creditors: Amounts falling due after more than one year

 

(16,080)

 

(16,080)

Provisions for liabilities

 

(121,852)

 

(113,101)

Net assets

   

1,593,755

 

1,572,993

Capital and reserves

   

 

Called up share capital

89,388

 

89,388

 

Share premium reserve

16,622

 

16,622

 

Capital redemption reserve

2,810

 

2,810

 

Fair value reserves

474,566

 

448,316

 

Profit and loss account

1,010,369

 

1,015,857

 

Total equity

   

1,593,755

 

1,572,993

 

Plant Welding Holdings Limited

(Registration number: 00758454)
Abridged Balance Sheet as at 30 June 2024

For the financial 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.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mr D Carlin
Company secretary and director

 

Plant Welding Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Private Road No 7
Colwick Industrial Estate
Nottingham
NG4 2AB

These financial statements were authorised for issue by the Board on 13 March 2025.

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.

Basis of preparation of financial statements

These financial statements were prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including the Financial Reporting Standard 102 ('FRS 102') Section 1A small entities, and with the Companies Act 2006.

Group accounts not prepared

In accordance with the provisions of section 399 of the Companies Act 2006, the company has taken the exemption to prepare consolidated accounts and the accounts show information about the company as an individual entity.

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.

 

Plant Welding Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

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.

The freehold land and building is mixed use with it being utilised within the group and surplus space let to tenants until such time as group activities utilise the whole building. It has been accounted for within tangible assets on the basis that its fair value cannot be measured reliably without due cost or effort.

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

Freehold buildings

2% straight line

Plant and machinery

25% reducing balance

Fixtures and fittings

15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Plant Welding Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

 

Plant Welding Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

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.

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.

3

Staff numbers

During the year, the average number of employees at the company was 2 (2023 - 2).

4

Tangible assets

Freehold land and buildings
£

Fixtures and fittings
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 July 2023

304,226

22,210

295,136

621,572

At 30 June 2024

304,226

22,210

295,136

621,572

Depreciation

At 1 July 2023

185,014

22,077

291,721

498,812

Charge for the year

6,085

20

856

6,961

At 30 June 2024

191,099

22,097

292,577

505,773

Carrying amount

At 30 June 2024

113,127

113

2,559

115,799

At 30 June 2023

119,212

133

3,415

122,760

 

Plant Welding Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

Investment properties

2024
£

At 1 July

1,251,000

Fair value adjustments

35,000

At 30 June

1,286,000

5

Investments

Unlisted investments
£

Total
£

Cost or valuation

At 1 July 2023

226,258

226,258

Provision

Carrying amount

At 30 June 2024

226,258

226,258

At 30 June 2023

226,258

226,258