Company registration number 06667132 (England and Wales)
MATTHEW WILLIAMS DIGGER HIRE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MATTHEW WILLIAMS DIGGER HIRE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MATTHEW WILLIAMS DIGGER HIRE LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,178,903
3,053,674
Current assets
Stocks
12,000
15,586
Debtors
4
493,658
439,387
Cash at bank and in hand
97,965
93,320
603,623
548,293
Creditors: amounts falling due within one year
5
(853,037)
(749,476)
Net current liabilities
(249,414)
(201,183)
Total assets less current liabilities
2,929,489
2,852,491
Creditors: amounts falling due after more than one year
6
(666,145)
(771,845)
Provisions for liabilities
(382,908)
(333,447)
Net assets
1,880,436
1,747,199
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,880,336
1,747,099
Total equity
1,880,436
1,747,199
MATTHEW WILLIAMS DIGGER HIRE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 9 June 2025
M Williams
Director
Company registration number 06667132 (England and Wales)
MATTHEW WILLIAMS DIGGER HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Matthew Williams Digger Hire Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fir Tree Farm, Holgate Road, North Walsham, Norfolk, NR28 9LP.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the hire of plant and provision of services provided in the normal course of business, and is shown net of VAT.

Revenue from the hire of plant and the provision of services is recognised when the significant risks and rewards of the hire of plant or provision of services has passed to the buyer, 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.

1.3
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:

Plant and machinery
10% to 20% Reducing balance
Fixtures, fittings & equipment
33% Reducing balance
Motor vehicles
25% Reducing balance

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
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.

MATTHEW WILLIAMS DIGGER HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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.

1.7
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.

 

1.8
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.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
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.

MATTHEW WILLIAMS DIGGER HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
24
22
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
5,440,169
Additions
770,858
Disposals
(386,599)
At 30 September 2024
5,824,428
Depreciation and impairment
At 1 October 2023
2,386,495
Depreciation charged in the year
515,341
Eliminated in respect of disposals
(256,311)
At 30 September 2024
2,645,525
Carrying amount
At 30 September 2024
3,178,903
At 30 September 2023
3,053,674
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
434,606
428,466
Other debtors
59,052
10,921
493,658
439,387
MATTHEW WILLIAMS DIGGER HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
177,490
131,137
Taxation and social security
12,541
45,431
Other creditors
663,006
572,908
853,037
749,476
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
666,145
771,845
7
Directors' transactions

The company has paid rent of £42,000 (2023: £42,000) to the director for the use of property owned by him personally.

8
Ultimate controlling party

The company is controlled by the director Mr M Williams.

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