Company Registration No. 03348743 (England and Wales)
BUCKHURST PLANT HIRE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
BUCKHURST PLANT HIRE LIMITED
COMPANY INFORMATION
Directors
Mr Richard Walsh
(Appointed 21 December 2023)
Mr John Walsh
Company number
03348743
Registered office
PM+M Solutions for Business LLP
First Floor, Sandringham House
Hollins Brook Park, Pilsworth Road
Bury
BL9 8RN
Auditor
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
BUCKHURST PLANT HIRE LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 27
BUCKHURST PLANT HIRE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -
The directors present the strategic report for the year ended 30 June 2024.
Review of the business
The company has developed a reputation for supplying quality plant equipment at competitive prices both on-hire and via asset sales, together with specialist transport services. High levels of customer service underpins the company's growth and future plans. The company has invested significantly over the years in equipment to provide a vast range of equipment on-hire. During the past 2 years over £15.3m was invested in fixed assets to ensure our customers are able to hire the very latest equipment from leading manufacturers. The company also successfully opened a new depot in Carlisle, Cumbria to further strengthen its geographical reach and support for its customers.
The company has depots in Lancashire, Cumbria, Yorkshire, The Midlands and Scotland, employing approximately 120 staff in a range of skilled activities.
Total turnover for the year amounted to £22.29m (2023: £22.47m) with a gross profit margin of 16.85% (2023: 25.27%).
As at 30 June 2024, the company has net assets of £18.1m (2023: £17.5m), which the directors believe, places the company in a strong and stable financial position.
Principal risks and uncertainties
The company uses various financial instruments including bank loan and hire purchase, plus various other items, such as debtors and creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.
The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below. The directors review and agree policies for managing these risks. These policies have remained unchanged from previous years.
Liquidity risk
The company seeks to manage financial risk by ensuring liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.
Interest rate risk
The company finances its operations through a combination of retained profits, hire purchase contracts and bank finance arrangements. The company's exposure to interest rate fluctuations on its borrowings is managed by the use of both fixed and floating facilities.
Foreign currency risk
The company's principal foreign currency exposure arises from trading with overseas companies. Company policy permits but does not demand that these exposures may be hedged in order to fix the cost in sterling.
Credit risk
The principal credit risk arises from the company's trade debtors.
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary, Credit insurance is in place to mitigate any risks.
BUCKHURST PLANT HIRE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
Key performance indicators
The directors monitor progress on the company's strategy by reference to the following KPI's:
2024 2023
Sales £22.3m £22.5m
Gross Margin 16.9% 25.3%
EBITDA £6m £8.1m
Net current liabilities (£1.75m) (£1.57m)
Net assets £18.1m £17.5m
Revenue achieved in 2024 illustrates that the company is continuing to grow in-line with its business growth strategy. The directors are satisfied with the growth achieved, given challenging global economic factors encountered.
Gross profit margins are in-line with directors' expectations. The reduction noted in gross margin is a result of global economic factors.
The company is in a net current liabilities position principally due to the acquisition of fixed assets on finance leases and hire purchase contracts, with repayments scheduled over a shorter period than the fixed assets useful economic life.
The increase in net assets illustrates the company's strengthened financial position.
Mr John Walsh
Director
4 April 2025
BUCKHURST PLANT HIRE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
The directors present their annual report and financial statements for the year ended 30 June 2024.
Principal activities
The principal activity of the company continued to be that of hire and sale of plant and machinery and specialist transport services.
Results and dividends
The results for the year are set out on page 9.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr Richard Walsh
(Appointed 21 December 2023)
Mr John Walsh
Future developments
The company continues to invest in both its plant and transport assets to ensure it runs a modern and efficient fleet of assets for clients.
Auditor
PM+M Solutions for Business LLP were appointed as auditor to the company and are deemed to be reappointed under section 487 of the Companies Act 2006.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
BUCKHURST PLANT HIRE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
On behalf of the board
Mr John Walsh
Director
4 April 2025
BUCKHURST PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BUCKHURST PLANT HIRE LIMITED
- 5 -
Opinion
We have audited the financial statements of Buckhurst Plant Hire Limited (the 'company') for the year ended 30 June 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
BUCKHURST PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BUCKHURST PLANT HIRE LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
BUCKHURST PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BUCKHURST PLANT HIRE LIMITED (CONTINUED)
- 7 -
Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following:
the nature of the industry and sector, control environment and business performance including the design of the Company's remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets;
results of our enquiries of management about their own identification and assessment of the risks of irregularities;
the matters discussed among the audit engagement team and relevant specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud;
any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:
identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of commercial income, posting of unusual journals and complex transactions; and manipulating the Company's performance profit measures and other key performance indicators to meet remuneration targets and externally communicated targets. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, employment law, health and safety regulations, pensions legislation and tax legislation.
Audit response to risks identified
Our procedures to respond to risks identified included the following:
reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
enquiring of management concerning actual and potential litigation and claims;
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and
in addressing the identified risks of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
BUCKHURST PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BUCKHURST PLANT HIRE LIMITED (CONTINUED)
- 8 -
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Miss Helen Louise Clayton BSc FCA (Senior Statutory Auditor)
For and on behalf of PM+M Solutions for Business LLP, Statutory Auditor
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
4 April 2025
BUCKHURST PLANT HIRE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
22,298,467
22,472,823
Cost of sales
(18,555,637)
(16,794,562)
Gross profit
3,742,830
5,678,261
Administrative expenses
(2,878,804)
(2,566,570)
Other operating income
103,500
16,784
Operating profit
4
967,526
3,128,475
Interest receivable and similar income
7
6,991
3,918
Interest payable and similar expenses
8
(127,666)
(92,857)
Profit before taxation
846,851
3,039,536
Tax on profit
9
(253,218)
(654,516)
Profit for the financial year
593,633
2,385,020
The profit and loss account has been prepared on the basis that all operations are continuing operations.
BUCKHURST PLANT HIRE LIMITED
BALANCE SHEET
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
35,137,188
35,314,708
Current assets
Stocks
11
288,312
347,553
Debtors
12
13,153,047
11,219,477
Cash at bank and in hand
322,359
1,007,135
13,763,718
12,574,165
Creditors: amounts falling due within one year
13
(15,523,447)
(14,149,315)
Net current liabilities
(1,759,729)
(1,575,150)
Total assets less current liabilities
33,377,459
33,739,558
Creditors: amounts falling due after more than one year
14
(11,010,287)
(12,150,577)
Provisions for liabilities
Deferred tax liability
17
4,239,177
4,054,619
(4,239,177)
(4,054,619)
Net assets
18,127,995
17,534,362
Capital and reserves
Called up share capital
19
100
100
Profit and loss reserves
18,127,895
17,534,262
Total equity
18,127,995
17,534,362
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The financial statements were approved by the board of directors and authorised for issue on 4 April 2025 and are signed on its behalf by:
Mr John Walsh
Director
Company registration number 03348743 (England and Wales)
BUCKHURST PLANT HIRE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 11 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2022
100
15,149,242
15,149,342
Year ended 30 June 2023:
Profit and total comprehensive income
-
2,385,020
2,385,020
Balance at 30 June 2023
100
17,534,262
17,534,362
Year ended 30 June 2024:
Profit and total comprehensive income
-
593,633
593,633
Balance at 30 June 2024
100
18,127,895
18,127,995
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 12 -
1
Accounting policies
Company information
Buckhurst Plant Hire Limited is a private company limited by shares incorporated in England and Wales. The registered office is PM+M Solutions for Business LLP, First Floor, Sandringham House, Hollins Brook Park, Pilsworth Road, Bury, BL9 8RN.
The principal place of business is Warth Goods Depot, Bacup Road, Waterfoot, Lancashire, BB4 7JA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Buckhurst Group (Holdings) Limited. These consolidated financial statements are available from its registered office, which is the same as this company.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
At the year-end, the company does have net current liabilities, which fundamentally is due to the company making significant investments in plant and machinery, included assets for hire, which are financed and have repayment terms scheduled over a much shorter period than the fixed assets' useful economic life. Creditors due in less than one year, includes a hire purchase and finance lease creditor consisting of 12 repayments which are paid monthly and funded from working capital generated from monthly income.
The directors are satisfied that the company's operating cashflows, alongside headroom in the company's borrowing facilities and strong overall net asset position, are sufficient to ensure the company can continue to trade as a going concern for a period of at least twelve months from the date of approval of the financial statements.
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 13 -
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover represents amounts receivable from the hire, sales, repair and transportation of plant and machinery
net of VAT and trade discounts.
Turnover from equipment sales, part sales and transport is recognised when goods have been delivered to
customers such that the risks and rewards of ownership have transferred to them.
Turnover from equipment hire services is recognised upon completion of terms of hire based on the hourly
usage of the equipment by the customer.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings & leasehold improvements
10% straight line basis
Assets on hire
10% - 33% reducing balance basis
Plant & machinery
33% straight line basis
Office & IT Equipment
25% reducing balance basis
Motor vehicles
25% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 14 -
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 15 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, finance leases that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 16 -
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
The company enters into sale and leaseback transactions, where it sells an asset and then immediately leases it back. The accounting treatment for these transactions depends on whether the leaseback is classified as a finance lease or an operating lease.
If the leaseback is classified as a finance lease, the company treats the transaction as a financing arrangement rather than a sale. In this case, the asset remains on the company’s balance sheet, and the proceeds from the sale are recognised as a liability in the form of a finance lease obligation. The company continues to recognise depreciation on the asset in accordance with its depreciation policy.
Lease payments made under the finance lease are treated as financing costs and a reduction of the liability. The company applies judgment in determining the classification of the leaseback arrangement, considering factors such as the transfer of ownership, the lease term relative to the asset’s useful life, and the present value of lease payments compared to the fair value of the asset.
1.14
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 17 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Sale and leaseback
During the current and previous periods, the company entered into transactions with a company under common control to sell and then repurchase certain fixed assets via finance lease agreements. The quantum of these transactions is material to the financial statements.
The directors consider that in substance the company retained control of the fixed assets throughout these transactions and therefore it has not recognised a disposal and addition in respect of the assets sold and repurchased.
The directors consider that, in substance, these transactions represent a sale and leaseback, with the leases classified as finance leases, and have applied this treatment within the financial statements.
The directors have applied judgment in the application of the company's accounting policies in recognising the substance of these transactions, over their legal form.
Recoverability of group balances
Included within amounts owed from group undertakings is a balance of £5.392m due from a non-trading parent company. The directors consider that this balance could be settled through the declaration of dividends from around the group, at their discretion, which could be used to settle the balance. As a result, no impairment has been recognised against this amount. While the balance is classified as falling due within one year due to the absence of a formal repayment agreement, the directors believe it is likely that some or all of the balance may be settled over a period exceeding one year.
Included in amounts owed by group undertakings is a balance of £1.1m due from a group company that was in a net liability position at the year end. The directors have not provided against this balance, as they expect future profitability in that company to enable full settlement. While the balance is classified as falling due within one year due to the absence of a formal repayment agreement, the directors believe it is likely that some of the balance may be settled over a period exceeding one year.
The directors have applied judgment in determining that these balances are likely to be recovered over the fullness of time and that no provision is required against them.
Key sources of estimation uncertainty
Useful life of fixed assets
The directors are responsible for determining the expected useful life of fixed assets to ensure an appropriate depreciation charge is recognised each year. The carrying value of fixed assets depends on their condition and their ability to generate economic benefits. To ensure the assets are fairly stated in the financial statements, the directors conduct periodic reviews, assessing both their condition and ongoing economic viability.
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 18 -
3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Plant hire sales
22,178,943
22,365,227
Other sales
119,524
107,596
22,298,467
22,472,823
2024
2023
£
£
Other revenue
Interest income
6,991
3,918
Grants received
16,784
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Government grants
(16,784)
Fees payable to the company's auditor for the audit of the company's financial statements
13,000
12,500
Depreciation of owned tangible fixed assets
1,236,504
1,305,943
Depreciation of tangible fixed assets held under finance leases
3,813,601
3,592,979
Profit on disposal of tangible fixed assets
(245,489)
(729,691)
Operating lease charges
95,170
256,743
5
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Central services
18
18
Other
102
95
Total
120
113
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
5
Employees
(Continued)
- 19 -
Their aggregate remuneration comprised:
2024
2023
£
£
Wages and salaries
4,966,889
4,576,646
Social security costs
567,925
536,569
Pension costs
111,460
96,410
5,646,274
5,209,625
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
242,115
184,840
Company pension contributions to defined contribution schemes
770
242,885
184,840
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2023 - 0).
Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
188,156
184,840
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
4,988
2,378
Other interest income
2,003
1,540
Total income
6,991
3,918
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 20 -
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
127,666
92,321
Other interest
536
127,666
92,857
Included within cost of sales is interest relating to hire purchase and finance lease contracts which amounted to £1,020,938 (2023: £828,862).
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
68,660
178,315
Deferred tax
Origination and reversal of timing differences
184,558
361,913
Changes in tax rates
114,288
Total deferred tax
184,558
476,201
Total tax charge
253,218
654,516
Since 1 April 2023 the effective tax rate has been 25%. During the period, the effective tax rate was therefore 25% (2023: 19%).
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
9
Taxation
(Continued)
- 21 -
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
846,851
3,039,536
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
211,713
577,512
Tax effect of expenses that are not deductible in determining taxable profit
9,792
7,726
Gains not taxable
(2,374)
Effect of change in corporation tax rate
114,288
Group relief
(14,837)
(19,750)
Permanent capital allowances in excess of depreciation
(35,677)
Depreciation on assets not qualifying for tax allowances
13,917
2,060
Other permanent differences
(2,282)
Tax at marginal rate
13,013
Tax on chargeable gains
34,864
Movement in deferred tax not recognised
(2,231)
Taxation charge for the year
253,218
654,516
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 22 -
10
Tangible fixed assets
Land and buildings & leasehold improvements
Assets on hire
Plant & machinery
Office & IT Equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 July 2023
632,797
46,983,273
343,049
264,763
4,038,260
52,262,142
Additions
20,107
5,401,858
70,185
12,609
971,221
6,475,980
Disposals
(2,687,714)
(4,715)
(4,169)
(338,527)
(3,035,125)
At 30 June 2024
652,904
49,697,417
408,519
273,203
4,670,954
55,702,997
Depreciation and impairment
At 1 July 2023
331,380
14,040,159
260,005
190,929
2,124,961
16,947,434
Depreciation charged in the year
55,668
4,047,050
54,322
21,668
871,397
5,050,105
Eliminated in respect of disposals
(1,162,952)
(4,112)
(2,572)
(262,094)
(1,431,730)
At 30 June 2024
387,048
16,924,257
310,215
210,025
2,734,264
20,565,809
Carrying amount
At 30 June 2024
265,856
32,773,160
98,304
63,178
1,936,690
35,137,188
At 30 June 2023
301,417
32,943,114
83,044
73,834
1,913,299
35,314,708
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
2024
2023
£
£
Assets on hire
25,853,580
26,098,939
Motor vehicles
1,775,086
1,692,114
27,628,666
27,791,053
11
Stocks
2024
2023
£
£
Finished goods and goods for resale
288,312
347,553
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 23 -
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,027,433
4,769,173
Corporation tax recoverable
103,500
26,874
Amounts owed by group undertakings
6,928,427
5,701,002
Other debtors
564,583
240,914
Prepayments and accrued income
529,104
481,514
13,153,047
11,219,477
Amounts due from fellow group undertakings are interest free and repayable on demand. See note 2 for further details.
13
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
15
200,000
200,004
Obligations under finance leases
16
8,700,872
8,703,909
Trade creditors
2,362,339
1,442,355
Amounts owed to group undertakings
640,806
219,187
Corporation tax
30,298
205,399
Other taxation and social security
393,603
571,814
Other creditors
2,526,585
2,431,357
Accruals and deferred income
668,944
375,290
15,523,447
14,149,315
Amounts due to fellow group undertakings are interest free and repayable on demand.
Included within other creditors is an amount of £1,835,797 (2023: £1,564,083) that relates to a receivables finance facility, which is secured by a fixed and floating charge over the company's assets.
14
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
15
200,000
399,996
Obligations under finance leases
16
10,810,287
11,750,581
11,010,287
12,150,577
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 24 -
15
Loans and overdrafts
2024
2023
£
£
Bank loans
400,000
600,000
Payable within one year
200,000
200,004
Payable after one year
200,000
399,996
The loan is repayable over a total term of 73 months, with the final repayment due in July 2026. Interest is charged at a rate of 2.57% above the Bank of England base rate.
16
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
9,522,395
9,418,481
In two to five years
11,446,499
12,265,337
20,968,894
21,683,818
Less: future finance charges
(1,457,735)
(1,229,328)
19,511,159
20,454,490
Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
Obligations under hire purchase contracts are secured on the assets to which they relate.
17
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Fixed asset timing differences
4,241,602
4,056,723
Short term timing differences
(2,425)
(2,104)
4,239,177
4,054,619
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
17
Deferred taxation
(Continued)
- 25 -
2024
Movements in the year:
£
Liability at 1 July 2023
4,054,619
Charge to profit or loss
184,558
Liability at 30 June 2024
4,239,177
The deferred tax liability above arises from accelerated capital allowances and is expected to reverse over the useful lives of the related assets. However, this reduction is likely to be offset by deferred tax on capital allowances for future asset purchases.
18
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
111,460
96,410
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
At the balance sheet date, these contributions outstanding totalled £23,623 (2023: £22,424).
19
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 26 -
20
Financial commitments, guarantees and contingent liabilities
The company has entered into a joint omnibus guarantee and set-off agreement with related companies in which the director and shareholder has a common and controlling interest. The guarantee is jointly provided with other related companies, namely being Buckhurst Group (Holdings) Limited, Buckhurst Group Limited, Buckhurst Land Investments Limited, D & J Machinery Limited, Dunrave Plant Services Limited, Majorbase Holdings Limited and BC Plant and Transport Limited. The companies have jointly agreed to guarantee and set-off (if required) the net bank borrowings of each other. As at 30 June 2024, the net bank borrowings included within the respective companies are summarised below.
Summary of cross guarantees:-
2024 2023
£ £
Buckhurst Plant Hire Limited 400,000 600,000
Buckhurst Group Limited - 29,955
Buckhurst Land Investments Limited 1,779,125 1,919,484
D & J Machinery Limited 84,333 128,333
Dunrave Plant Services Limited 591,858 -
BC Plant and Transport Limited 19,167 -
The company has entered into a guarantee covering the deferred consideration due on the acquisition of the share capital of BC Plant and Transport Limited by Buckhurst Group (Holdings) Ltd. At the balance sheet date the potential additional liability for the company under this guarantee is £492,501 (2023: £1,137,500).
The company has also entered into a guarantee covering the deferred consideration due on the acquisition of the share capital of Dunrave Plant Services Limited by Majorbase Holdings Limited. At the balance sheet date the potential additional liability for the company under this guarantee is £112,500 (2023: £262,500).
21
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2024
2023
£
£
Within one year
129,096
134,689
Between two and five years
145,107
255,596
274,203
390,285
22
Capital commitments
Amounts contracted for but not provided in the financial statements:
2024
2023
£
£
Acquisition of tangible fixed assets
1,939,524
430,000
BUCKHURST PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 27 -
23
Related party transactions
As permitted by FRS 102, the financial statements do not disclose transactions with the parent company and wholly owned subsidiaries where 100% of the voting rights are controlled within the group.
Buckhurst Plant Hire Limited has sold goods and services to companies within the same group that are not wholly owned subsidiaries, amounting to £256,054 (2023: £230,813), with £1,298,876 (2023: £698,917) due from these companies at the year-end. The company has also purchased goods and services from companies within the same group that are not wholly owned subsidiaries, totalling £477,515 (2023: £263,547), with £632,906 (2023: £219,187) due to these companies at the year-end.
Buckhurst Plant Hire Limited has sold goods and services to companies connected through significant influence, amounting to £42,051 (2023: £27,994), with £18,633 (2023: £13,489) due from these companies at the year-end. The company has also purchased goods and services from companies connected through significant influence, totalling £72,994 (2023: £52,653) with £8,119 (2023: £0) due to these companies at the year-end.
Buckhurst Plant Hire Limited has sold goods and services to companies connected under common control, amounting to £423,256, (2023: £455,690) with £436,053 (2023: £17,159) due from these companies at the year-end. The company has also purchased goods and services from companies connected under common control, totalling £489,023 (2023: 854,092) with £637,315 (2023: £828,763) due to these companies at the year-end. In addition, the company entered into sale and purchase transactions with a value of £3,581,252 (2023: £1,487,620) with these companies as part of its refinancing under sale and leaseback arrangements. See Note 2 for further details.
24
Directors' transactions
Included within other debtors is a balance of £74,000 (2023: £79,627) due from a director. During the year, the director received advances totalling £0 (2023: £64,239), while repayments amounting to £7,630 (2023: £2,094) were made. Interest of £2,003 (2023: £1,540) was charged on this balance during the year.
25
Ultimate controlling party
The company's ultimate parent is Buckhurst Group (Holdings Limited), incorporated in England and Wales. The parent company of the largest and smallest group that includes the company and for which group financial statements are prepared is Buckhurst Group (Holdings) Limited. Consolidated financial statements of the group can be requested from Buckhurst Group (Holdings) Limited, First Floor Sandringham House Hollins Brook Park, Pilsworth Road, Bury, Lancashire, United Kingdom, BL9 8RN.
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