Cox Plant Water Borehole Drilling Limited 13448002 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Drilling Boreholes Digita Accounts Production Advanced 6.30.9574.0 true 13448002 2023-07-01 2024-06-30 13448002 2024-06-30 13448002 bus:OrdinaryShareClass1 2024-06-30 13448002 bus:OrdinaryShareClass2 2024-06-30 13448002 core:CurrentFinancialInstruments 2024-06-30 13448002 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 13448002 core:Goodwill 2024-06-30 13448002 core:FurnitureFittingsToolsEquipment 2024-06-30 13448002 core:MotorVehicles 2024-06-30 13448002 core:DeferredTaxation 2024-06-30 13448002 bus:FRS102 2023-07-01 2024-06-30 13448002 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 13448002 bus:FullAccounts 2023-07-01 2024-06-30 13448002 bus:RegisteredOffice 2023-07-01 2024-06-30 13448002 bus:Director1 2023-07-01 2024-06-30 13448002 bus:Director2 2023-07-01 2024-06-30 13448002 bus:Director3 2023-07-01 2024-06-30 13448002 bus:Director4 2023-07-01 2024-06-30 13448002 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 13448002 bus:OrdinaryShareClass1 bus:OtherShareType 2023-07-01 2024-06-30 13448002 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 13448002 bus:OrdinaryShareClass2 bus:OtherShareType 2023-07-01 2024-06-30 13448002 bus:Consolidated 2023-07-01 2024-06-30 13448002 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13448002 bus:Agent1 2023-07-01 2024-06-30 13448002 2 2023-07-01 2024-06-30 13448002 core:Goodwill 2023-07-01 2024-06-30 13448002 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 13448002 core:MotorVehicles 2023-07-01 2024-06-30 13448002 core:OfficeEquipment 2023-07-01 2024-06-30 13448002 core:PlantMachinery 2023-07-01 2024-06-30 13448002 core:DeferredTaxation 2023-07-01 2024-06-30 13448002 core:UKTax 2023-07-01 2024-06-30 13448002 countries:EnglandWales 2023-07-01 2024-06-30 13448002 2023-06-30 13448002 core:Goodwill 2023-06-30 13448002 core:FurnitureFittingsToolsEquipment 2023-06-30 13448002 core:MotorVehicles 2023-06-30 13448002 core:DeferredTaxation 2023-06-30 13448002 2022-07-01 2023-06-30 13448002 2023-06-30 13448002 bus:OrdinaryShareClass1 2023-06-30 13448002 bus:OrdinaryShareClass2 2023-06-30 13448002 core:CurrentFinancialInstruments 2023-06-30 13448002 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 13448002 core:Goodwill 2023-06-30 13448002 core:FurnitureFittingsToolsEquipment 2023-06-30 13448002 core:MotorVehicles 2023-06-30 13448002 bus:OrdinaryShareClass1 bus:OtherShareType 2022-07-01 2023-06-30 13448002 bus:OrdinaryShareClass2 bus:OtherShareType 2022-07-01 2023-06-30 13448002 2 2022-07-01 2023-06-30 13448002 core:UKTax 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13448002

Cox Plant Water Borehole Drilling Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Cox Plant Water Borehole Drilling Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5 to 6

Notes to the Unaudited Financial Statements

7 to 15

 

Cox Plant Water Borehole Drilling Limited

Company Information

Directors

Mrs Wendy Jean Cox

Mr Sam Cox

Mr Trevor Stanley Cox

Mr Jake Cox

Registered office

Mocks Cottage
Lake
Nr Tawstock
Barnstaple
Devon
EX31 3HU

Accountants

Rural Accounts Ltd The Myrtles
Rumsam Road
Barnstaple
Devon
EX32 9ER

 

Cox Plant Water Borehole Drilling Limited

Directors' Report for the Year Ended 30 June 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs Wendy Jean Cox

Mr Sam Cox

Mr Trevor Stanley Cox

Mr Jake Cox

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved and authorised by the Board on 22 November 2024 and signed on its behalf by:
 

.........................................
Mrs Wendy Jean Cox
Director

.........................................
Mr Sam Cox
Director

.........................................
Mr Trevor Stanley Cox
Director

.........................................
Mr Jake Cox
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cox Plant Water Borehole Drilling 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 financial statements of Cox Plant Water Borehole Drilling Limited for the year ended 30 June 2024 as set out on pages 4 to 15 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Accounting Technicians we are subject to its ethical and other professional requirements which are detailed at https:www.aat.org.uk.

It is your duty to ensure that Cox Plant Water Borehole Drilling 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 Cox Plant Water Borehole Drilling Limited. You consider that Cox Plant Water Borehole Drilling Limited is exempt from the statutory audit requirement for the year.

It is your duty to ensure that Cox Plater Water Borehole Drilling 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 loss of Cox Plant Water Borehole Drilling Limited. You consider that Cox Plant Water Borehole Drilling Limited is exempt from the stautory audit requirements for the year.

We have not been instructed to carry out an audit or a review of the accounts of Cox Plant Water Borehole Drilling 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.

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

Rural Accounts Ltd
The Myrtles
Rumsam Road
Barnstaple
Devon
EX32 9ER

22 November 2024

 

Cox Plant Water Borehole Drilling Limited

Profit and Loss Account for the Year Ended 30 June 2024

Note

2024
£

2023
£

Turnover

3

609,792

1,141,610

Cost of sales

 

(277,115)

(342,387)

Gross profit

 

332,677

799,223

Administrative expenses

 

(204,629)

(198,487)

Operating profit

5

128,048

600,736

Other interest receivable and similar income

6

-

577

Interest payable and similar expenses

7

-

(86)

   

-

491

Profit before tax

 

128,048

601,227

Tax on profit

10

(36,279)

(141,726)

Profit for the financial year

 

91,769

459,501

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Cox Plant Water Borehole Drilling Limited

(Registration number: 13448002)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

11

40,000

60,000

Tangible assets

12

207,207

271,303

 

247,207

331,303

Current assets

 

Stocks

13

10,000

31,500

Debtors

14

45,465

82,666

Cash at bank and in hand

 

52,430

450,967

 

107,895

565,133

Creditors: Amounts falling due within one year

16

(212,360)

(588,908)

Net current liabilities

 

(104,465)

(23,775)

Total assets less current liabilities

 

142,742

307,528

Provisions for liabilities

17

(50,356)

(63,631)

Net assets

 

92,386

243,897

Capital and reserves

 

Called up share capital

104

104

Retained earnings

92,282

243,793

Shareholders' funds

 

92,386

243,897

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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 22 November 2024 and signed on its behalf by:
 

.........................................
Mrs Wendy Jean Cox
Director

 

Cox Plant Water Borehole Drilling Limited

(Registration number: 13448002)
Balance Sheet as at 30 June 2024

.........................................
Mr Sam Cox
Director

.........................................
Mr Trevor Stanley Cox
Director

.........................................
Mr Jake Cox
Director

 

Cox Plant Water Borehole Drilling Limited

Notes to the Unaudited 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:
Mocks Cottage
Lake
Nr Tawstock
Barnstaple
Devon
EX31 3HU
United Kingdom

These financial statements were authorised for issue by the Board on 22 November 2024.

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.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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.

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.

 

Cox Plant Water Borehole Drilling Limited

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

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 balance sheet 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.

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

Motor vehicles

Straight line over 6 years

Plant & Machinery

Straight line over 6 years

Office equipment

Straight line over 3 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 5 years

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.

 

Cox Plant Water Borehole Drilling Limited

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Cox Plant Water Borehole Drilling Limited

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

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Turnover

The analysis of the company's revenue for the year from continuing operations is as follows:

2024
 £

2023
 £

Sale of goods

605,350

1,140,493

Interest received

4,442

1,117

609,792

1,141,610

4

Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

2024
 £

2023
 £

Gain/loss on disposal of plant and equipment

(1,423)

-

5

Operating profit

Arrived at after charging/(crediting)

2024
 £

2023
 £

Depreciation expense

64,171

62,204

Amortisation expense

20,000

20,000

Loss on disposal of property, plant and equipment

1,423

-

6

Other interest receivable and similar income

2024
 £

2023
 £

Other finance income

-

577

7

Interest payable and similar expenses

2024
 £

2023
 £

Interest on obligations under finance leases and hire purchase contracts

-

86

 

Cox Plant Water Borehole Drilling Limited

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

8

Staff numbers

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

4

4

4

4

9

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
 £

2023
 £

Remuneration

50,304

42,210

10

Taxation

Tax charged/(credited) in the income statement

2024
 £

2023
 £

Current taxation

UK corporation tax

49,554

132,829

Deferred taxation

Arising from origination and reversal of timing differences

(13,275)

8,897

Tax expense in the income statement

36,279

141,726

Deferred tax

Deferred tax assets and liabilities

 

Cox Plant Water Borehole Drilling Limited

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

11

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

100,000

100,000

At 30 June 2024

100,000

100,000

Amortisation

At 1 July 2023

40,000

40,000

Amortisation charge

20,000

20,000

At 30 June 2024

60,000

60,000

Carrying amount

At 30 June 2024

40,000

40,000

At 30 June 2023

60,000

60,000

12

Tangible assets

Plant & Equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

305,164

69,000

374,164

Additions

11,225

-

11,225

Disposals

-

(20,000)

(20,000)

At 30 June 2024

316,389

49,000

365,389

Depreciation

At 1 July 2023

83,701

19,160

102,861

Charge for the year

52,684

11,488

64,172

Eliminated on disposal

-

(8,851)

(8,851)

At 30 June 2024

136,385

21,797

158,182

Carrying amount

At 30 June 2024

180,004

27,203

207,207

At 30 June 2023

221,463

49,840

271,303

13

Stocks

 

Cox Plant Water Borehole Drilling Limited

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

2024
 £

2023
 £

Work in progress

-

31,500

Other inventories

10,000

-

10,000

31,500

 

Cox Plant Water Borehole Drilling Limited

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

14

Debtors

Current

2024
£

2023
£

Trade debtors

45,300

78,285

Other debtors

-

4,085

Prepayments

165

296

 

45,465

82,666

15

Cash and cash equivalents

2024
 £

2023
 £

Cash at bank

52,430

450,967

16

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

19

-

359

trade creditors

 

16,483

4,822

Amounts due to related parties

128,506

421,633

Social security and other taxes

 

12,817

24,265

Accrued expenses

 

5,000

5,000

Corporation tax liability

10

49,554

132,829

 

212,360

588,908

17

Provisions for liabilities

Deferred tax
£

Total
£

At 1 July 2023

63,631

63,631

Increase (decrease) in existing provisions

(13,275)

(13,275)

At 30 June 2024

50,356

50,356

 

Cox Plant Water Borehole Drilling Limited

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

18

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

4

4

4

4

104

104

104

104

19

Loans and borrowings

2024
 £

2023
 £

Current loans and borrowings

HP and finance lease liabilities

-

359

20

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil per each Ordinary A Shares

-

-

Interim dividend of £60,820.00 (2023 - £62,610.00) per each Ordinary B Shares

243,280

250,440

243,280

250,440