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Registration number: 13513170

J R Plant Sales Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

J R Plant Sales Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

J R Plant Sales Ltd

Company Information

Director

J Edmunds

Registered office

White Post Garage
Old Rufford Road
Farnsfield
Nottinghamshire
NG22 8HU

 

J R Plant Sales Ltd

(Registration number: 13513170)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

5,400

6,200

Tangible assets

5

61,570

56,509

 

66,970

62,709

Current assets

 

Stocks

6

258,050

229,851

Debtors

7

298,386

334,445

Cash at bank and in hand

 

37,375

55,925

 

593,811

620,221

Creditors: Amounts falling due within one year

8

(626,782)

(664,189)

Net current liabilities

 

(32,971)

(43,968)

Total assets less current liabilities

 

33,999

18,741

Creditors: Amounts falling due after more than one year

8

(35,029)

(5,763)

Provisions for liabilities

(1,931)

(8,056)

Net (liabilities)/assets

 

(2,961)

4,922

Capital and reserves

 

Called up share capital

9

10

10

Retained earnings

(2,971)

4,912

Shareholders' (deficit)/funds

 

(2,961)

4,922

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

Director's 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 Director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 June 2025
 

 

J R Plant Sales Ltd

(Registration number: 13513170)
Balance Sheet as at 31 December 2024

.........................................
J Edmunds
Director

 

J R Plant Sales Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
White Post Garage
Old Rufford Road
Farnsfield
Nottinghamshire
NG22 8HU

These financial statements were authorised for issue by the director on 2 June 2025.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

J R Plant Sales Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Plant and machinary

12% reducing balance

Motor vehicles

12% reducing balance

Office equipment

12% reducing balance

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

Over 10 years

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.

 

J R Plant Sales Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 4 (2023 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

8,000

8,000

At 31 December 2024

8,000

8,000

Amortisation

At 1 January 2024

1,800

1,800

Amortisation charge

800

800

At 31 December 2024

2,600

2,600

Carrying amount

At 31 December 2024

5,400

5,400

At 31 December 2023

6,200

6,200

 

J R Plant Sales Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

21,865

46,503

68,368

Additions

1,885

51,000

52,885

Disposals

(6,500)

(46,500)

(53,000)

At 31 December 2024

17,250

51,003

68,253

Depreciation

At 1 January 2024

4,099

7,760

11,859

Charge for the year

1,619

4,181

5,800

Eliminated on disposal

(1,114)

(9,862)

(10,976)

At 31 December 2024

4,604

2,079

6,683

Carrying amount

At 31 December 2024

12,646

48,924

61,570

At 31 December 2023

17,766

38,743

56,509

6

Stocks

2024
£

2023
£

Other inventories

258,050

229,851

7

Debtors

Current

2024
£

2023
£

Trade debtors

123,018

131,046

Prepayments

2,386

11,156

Other debtors

172,982

192,243

 

298,386

334,445

 

J R Plant Sales Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

165,284

22,727

Taxation and social security

 

4,254

15,305

Other creditors

 

418,897

523,946

Accruals and deferred income

 

33,600

97,520

HP and finance lease liabilities

 

4,747

4,691

 

626,782

664,189

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

HP and finance lease liabilities

35,029

5,763

Hire purchase liabilities amounting to £39,776 (2023: £10,454) are secured on the assets acquired.

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

         

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

HP and finance lease

35,029

5,763

2024
£

2023
£

Current loans and borrowings

Other borrowings

411,405

517,376

HP and finance lease

4,747

4,691

416,152

522,067