2 false false false false false false false false false false true false false false false false false No description of principal activity 2024-02-01 Sage Accounts Production Advanced 2024 - FRS102_2024 72,000 72,000 xbrli:pure xbrli:shares iso4217:GBP 05944392 2024-02-01 2025-01-31 05944392 2025-01-31 05944392 2024-01-31 05944392 2023-02-01 2024-01-31 05944392 2024-01-31 05944392 2023-01-31 05944392 core:NetGoodwill 2024-02-01 2025-01-31 05944392 core:PlantMachinery 2024-02-01 2025-01-31 05944392 core:MotorVehicles 2024-02-01 2025-01-31 05944392 bus:Director1 2024-02-01 2025-01-31 05944392 bus:Director2 2024-02-01 2025-01-31 05944392 core:NetGoodwill 2025-01-31 05944392 core:PlantMachinery 2024-01-31 05944392 core:MotorVehicles 2024-01-31 05944392 core:PlantMachinery 2025-01-31 05944392 core:MotorVehicles 2025-01-31 05944392 core:WithinOneYear 2025-01-31 05944392 core:WithinOneYear 2024-01-31 05944392 core:ShareCapital 2025-01-31 05944392 core:ShareCapital 2024-01-31 05944392 core:RetainedEarningsAccumulatedLosses 2025-01-31 05944392 core:RetainedEarningsAccumulatedLosses 2024-01-31 05944392 core:PlantMachinery 2024-01-31 05944392 core:MotorVehicles 2024-01-31 05944392 bus:Director1 2024-01-31 05944392 bus:Director1 2025-01-31 05944392 bus:Director2 2024-01-31 05944392 bus:Director2 2025-01-31 05944392 bus:Director1 2023-01-31 05944392 bus:Director1 2024-01-31 05944392 bus:Director2 2023-01-31 05944392 bus:Director2 2024-01-31 05944392 bus:Director1 2023-02-01 2024-01-31 05944392 bus:Director2 2023-02-01 2024-01-31 05944392 bus:SmallEntities 2024-02-01 2025-01-31 05944392 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 05944392 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 05944392 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 05944392 bus:FullAccounts 2024-02-01 2025-01-31 05944392 core:Vehicles 2024-02-01 2025-01-31 05944392 core:Vehicles 2024-01-31 05944392 core:Vehicles 2025-01-31
COMPANY REGISTRATION NUMBER: 05944392
P J T Plant Limited
Filleted Unaudited Financial Statements
31 January 2025
P J T Plant Limited
Statement of Financial Position
31 January 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
6
1,605,621
1,422,603
Current assets
Debtors
7
649,039
347,947
Cash at bank and in hand
958,502
1,305,394
------------
------------
1,607,541
1,653,341
Creditors: amounts falling due within one year
8
82,399
93,685
------------
------------
Net current assets
1,525,142
1,559,656
------------
------------
Total assets less current liabilities
3,130,763
2,982,259
Provisions
159,110
163,390
------------
------------
Net assets
2,971,653
2,818,869
------------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
2,971,651
2,818,867
------------
------------
Shareholders funds
2,971,653
2,818,869
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
P J T Plant Limited
Statement of Financial Position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 7 April 2025 , and are signed on behalf of the board by:
Mr P Towey Snr
Director
Company registration number: 05944392
P J T Plant Limited
Notes to the Financial Statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Gladstone House, 373 Haydn Road, Sherwood, Nottingham, NG5 1DZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax and derives from the hiring of plant, machinery and other assets.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Motor vans
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 February 2024 and 31 January 2025
72,000
--------
Amortisation
At 1 February 2024 and 31 January 2025
72,000
--------
Carrying amount
At 31 January 2025
--------
At 31 January 2024
--------
6. Tangible assets
Plant and machinery
Motor vehicles
Motor vans
Total
£
£
£
£
Cost
At 1 February 2024
2,743,948
404,955
498,414
3,647,317
Additions
177,000
262,000
266,485
705,485
Disposals
( 256,287)
( 122,050)
( 378,337)
------------
---------
---------
------------
At 31 January 2025
2,664,661
666,955
642,849
3,974,465
------------
---------
---------
------------
Depreciation
At 1 February 2024
1,749,783
138,488
336,443
2,224,714
Charge for the year
279,819
72,075
103,276
455,170
Disposals
( 204,364)
( 106,676)
( 311,040)
------------
---------
---------
------------
At 31 January 2025
1,825,238
210,563
333,043
2,368,844
------------
---------
---------
------------
Carrying amount
At 31 January 2025
839,423
456,392
309,806
1,605,621
------------
---------
---------
------------
At 31 January 2024
994,165
266,467
161,971
1,422,603
------------
---------
---------
------------
7. Debtors
2025
2024
£
£
Other debtors
649,039
347,947
---------
---------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
642
Corporation tax
77,874
75,476
Social security and other taxes
52
14,155
Other creditors
3,831
4,054
--------
--------
82,399
93,685
--------
--------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr P Towey Snr
37,602
46,755
( 37,602)
46,755
Mrs J Towey
29,654
39,285
( 32,946)
35,993
--------
--------
--------
--------
67,256
86,040
( 70,548)
82,748
--------
--------
--------
--------
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr P Towey Snr
( 46,862)
109,686
( 25,222)
37,602
Mrs J Towey
( 56,748)
111,624
( 25,222)
29,654
---------
---------
--------
--------
( 103,610)
221,310
( 50,444)
67,256
---------
---------
--------
--------