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Company No: 08662460 (England and Wales)

COURTNEY KING PLANT HIRE LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

COURTNEY KING PLANT HIRE LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

COURTNEY KING PLANT HIRE LIMITED

BALANCE SHEET

As at 31 August 2024
COURTNEY KING PLANT HIRE LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,137,036 828,435
1,137,036 828,435
Current assets
Stocks 318,405 265,764
Debtors 4 145,574 411,520
Cash at bank and in hand 48,108 0
512,087 677,284
Creditors: amounts falling due within one year 5 ( 851,759) ( 593,047)
Net current (liabilities)/assets (339,672) 84,237
Total assets less current liabilities 797,364 912,672
Creditors: amounts falling due after more than one year 6 ( 617,374) ( 488,262)
Provision for liabilities ( 70,224) ( 129,088)
Net assets 109,766 295,322
Capital and reserves
Called-up share capital 100 100
Profit and loss account 109,666 295,222
Total shareholders' funds 109,766 295,322

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Courtney King Plant Hire Limited (registered number: 08662460) were approved and authorised for issue by the Board of Directors on 28 May 2025. They were signed on its behalf by:

C King
Director
COURTNEY KING PLANT HIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
COURTNEY KING PLANT HIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Courtney King Plant Hire Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 10 - 15 % reducing balance
20 years straight line
Vehicles 5 years straight line
Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 28 20

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 September 2023 1,512 863,058 107,657 6,609 2,143 980,979
Additions 0 447,689 12,200 0 2,262 462,151
Disposals 0 ( 16,500) 0 0 0 ( 16,500)
At 31 August 2024 1,512 1,294,247 119,857 6,609 4,405 1,426,630
Accumulated depreciation
At 01 September 2023 1,512 123,156 22,722 4,049 1,105 152,544
Charge for the financial year 0 117,175 21,777 384 890 140,226
Disposals 0 ( 3,176) 0 0 0 ( 3,176)
At 31 August 2024 1,512 237,155 44,499 4,433 1,995 289,594
Net book value
At 31 August 2024 0 1,057,092 75,358 2,176 2,410 1,137,036
At 31 August 2023 0 739,902 84,935 2,560 1,038 828,435

4. Debtors

2024 2023
£ £
Trade debtors 110,332 383,436
Other debtors 35,242 28,084
145,574 411,520

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 3,800 7,759
Trade creditors 362,235 248,849
Other taxation and social security 213,745 23,161
Obligations under finance leases and hire purchase contracts 184,645 146,178
Other creditors 87,334 167,100
851,759 593,047

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 2,849 6,650
Obligations under finance leases and hire purchase contracts 561,907 456,986
Other creditors 52,618 24,626
617,374 488,262

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 11,985 0
between one and five years 24,969 0
36,954 0

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Mr C and Mrs H King - 2.25% interest 35,243 (12,253)

During the year, the directors introduced funds amounting to £13,092 (2023 £5,112), withdrew funds totalling £60,328 (2023 £74,500) and interest was charged on the loaned amount of £259 (2023 £Nil)

Guarantees

A guarantee was made on behalf of the company by the directors, the term of the guarantee is a five year hire purchase agreement. The total maximum liability to be incurred under the guarantee is £38,500.

A guarantee was made on behalf of the company by the directors, the term of the guarantee is a four year hire agreement. The total maximum liability to be incurred under the guarantee is £47,942.

The total maximum liability to be incurred under guarantees is £86,442.