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P&G EDDY PLANT SERVICES LTD

Registered Number
10218161
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

P&G EDDY PLANT SERVICES LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

EDDY, Graham
EDDY, Paul Robert

Company Secretary

EDDY, Gail

Registered Address

St Denys House
22 East Hill
St Austell
PL25 4TR

Place of Business

Cantsdam Barn

Long Lane

High Street

ST. AUSTELL

PL267SX


Registered Number

10218161 (England and Wales)
P&G EDDY PLANT SERVICES LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets311,00012,833
Tangible assets41,909,3251,651,174
1,920,3251,664,007
Current assets
Stocks558,46638,680
Debtors6221,632215,850
Cash at bank and on hand171,310119,212
451,408373,742
Creditors amounts falling due within one year7(820,393)(677,787)
Net current assets (liabilities)(368,985)(304,045)
Total assets less current liabilities1,551,3401,359,962
Creditors amounts falling due after one year8(248,155)(282,530)
Provisions for liabilities10(338,500)(283,790)
Net assets964,685793,642
Capital and reserves
Called up share capital2121
Profit and loss account964,664793,621
Shareholders' funds964,685793,642
The financial statements were approved and authorised for issue by the Board of Directors on 19 March 2025, and are signed on its behalf by:
EDDY, Paul Robert
Director
Registered Company No. 10218161
P&G EDDY PLANT SERVICES LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in the expenses shown in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset. Plant & Machinery depreciation applies at 7% for heavy plant and 12% for general plant, both on the reducing balance method. Subject to this distinction the depreciation rates are as follows:

Reducing balance (%)
Plant and machinery7
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over their useful lives.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year810
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 July 2322,00022,000
At 30 June 2422,00022,000
Amortisation and impairment
At 01 July 239,1679,167
Charge for year1,8331,833
At 30 June 2411,00011,000
Net book value
At 30 June 2411,00011,000
At 30 June 2312,83312,833
4.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 July 232,099,69345,2402,144,933
Additions373,91732,535406,452
At 30 June 242,473,61077,7752,551,385
Depreciation and impairment
At 01 July 23458,92834,831493,759
Charge for year137,56510,736148,301
At 30 June 24596,49345,567642,060
Net book value
At 30 June 241,877,11732,2081,909,325
At 30 June 231,640,76510,4091,651,174
5.Stocks

2024

2023

££
Raw materials and consumables30,00030,000
Work in progress28,4668,680
Total58,46638,680
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables211,759203,337
Prepayments and accrued income9,87312,513
Total221,632215,850
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables87,94430,529
Taxation and social security89,18437,432
Finance lease and HP contracts319,218254,882
Other creditors312,354344,620
Accrued liabilities and deferred income11,69310,324
Total820,393677,787
Of the above creditors, the hire purchase contracts are secured on the assets to which the contracts relate.
8.Creditors: amounts due after one year

2024

2023

££
Other creditors248,155282,530
Total248,155282,530
Further details of these creditors are provided at note 9.
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts248,155282,530
The above hire purchase contracts are secured on the assets to which the contracts relate.
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)338,500283,790
Total338,500283,790