Caseware UK (AP4) 2023.0.135 2023.0.135 property lettingfalsetrue2023-11-0144falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 547164 2023-11-01 2024-10-31 547164 2022-11-01 2023-10-31 547164 2024-10-31 547164 2023-10-31 547164 2022-11-01 547164 c:Director1 2023-11-01 2024-10-31 547164 d:FreeholdInvestmentProperty 2024-10-31 547164 d:FreeholdInvestmentProperty 2023-10-31 547164 d:CurrentFinancialInstruments 2024-10-31 547164 d:CurrentFinancialInstruments 2023-10-31 547164 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 547164 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 547164 d:ShareCapital 2024-10-31 547164 d:ShareCapital 2023-10-31 547164 d:ShareCapital 2022-11-01 547164 d:RevaluationReserve 2024-10-31 547164 d:RevaluationReserve 2023-10-31 547164 d:RevaluationReserve 2022-11-01 547164 d:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 547164 d:RetainedEarningsAccumulatedLosses 2024-10-31 547164 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 547164 d:RetainedEarningsAccumulatedLosses 2023-10-31 547164 d:RetainedEarningsAccumulatedLosses 2022-11-01 547164 c:FRS102 2023-11-01 2024-10-31 547164 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 547164 c:FullAccounts 2023-11-01 2024-10-31 547164 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 547164 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 547164 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 547164 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure
Registered number: 547164





 
Carfox Plant Hire Co. Limited          
 
Financial statements          

For the year ended 31 October 2024          

 
Carfox Plant Hire Co. Limited
Registered number:547164

Balance sheet
As at 31 October 2024


2024

2023  
                                                                                    Note
£
£
£
£

Fixed assets
  

Investment property
 4 
1,800,000
1,800,000

Current assets
  

Debtors
 5 
42,896
42,403

Cash at bank and in hand
 6 
27,003
13,323

  
69,899
55,726

Creditors: amounts falling due within one year
 7 
(246,301)
(242,999)

Net current liabilities
  
 
 
(176,402)
 
 
(187,273)

Total assets less current liabilities
  
1,623,598
1,612,727

Provisions for liabilities
  

Deferred tax
 8 
(126,588)
(126,588)

Net assets
  
1,497,010
1,486,139


Capital and reserves
  

Called up share capital 
  
6,000
6,000

Investment property revaluation reserve
  
1,365,574
1,365,574

Profit and loss account
  
125,436
114,565

  
1,497,010
1,486,139


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 15 July 2025.


P B Carter
Director

The notes on pages 4 to 9 form part of these financial statements.
Page 1

 
Carfox Plant Hire Co. Limited
 

Statement of changes in equity
For the year ended 31 October 2024


Called up share capital
Investment
property
revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 November 2023
6,000
1,365,574
114,565
1,486,139



Profit for the year
-
-
100,871
100,871

Dividends: Equity capital
-
-
(90,000)
(90,000)


At 31 October 2024
6,000
1,365,574
125,436
1,497,010



 
 
 
 
 
 
Statement of changes in equity
For the year ended 31 October 2023


Called up share capital
Investment
property
revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 November 2022
6,000
1,365,574
162,182
1,533,756



Profit for the year
-
-
102,383
102,383

Dividends: Equity capital
-
-
(150,000)
(150,000)


At 31 October 2023
6,000
1,365,574
114,565
1,486,139


Page 2

 
Carfox Plant Hire Co. Limited
 

 
 
 
 
 
 
Statement of changes in equity (continued)
For the year ended 31 October 2023








The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Carfox Plant Hire Co. Limited
 
 
Notes to the financial statements
For the year ended 31 October 2024

1.


General information

Carfox Plant Hire Co. Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Investment property

Investment property is carried at fair value determined annually by the directors, having regard to professional advice taken personally, and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss account.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
Carfox Plant Hire Co. Limited
 
 
Notes to the financial statements
For the year ended 31 October 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
Carfox Plant Hire Co. Limited
 
 
Notes to the financial statements
For the year ended 31 October 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
Carfox Plant Hire Co. Limited
 
 
Notes to the financial statements
For the year ended 31 October 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 7

 
Carfox Plant Hire Co. Limited
 
 
Notes to the financial statements
For the year ended 31 October 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
1,800,000



At 31 October 2024
1,800,000

The 2024 valuations were made by the directors, having regard to professional advice taken personally, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
307,838
307,838

Accumulated depreciation and impairments
-
-

307,838
307,838


5.


Debtors

2024
2023
£
£


Other debtors
42,896
42,403



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
27,003
13,323


Page 8

 
Carfox Plant Hire Co. Limited
 
 
Notes to the financial statements
For the year ended 31 October 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
792
389

Amounts owed to associated companies
197,500
197,500

Corporation tax
33,624
29,755

Other creditors
1,500
1,500

Accruals and deferred income
12,885
13,855

246,301
242,999



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(126,588)
(126,588)


Charge for the year
-
-



At end of year
(126,588)
(126,588)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Unrealised surplus on revalued investment property
126,588
126,588


9.


Related party transactions

During the year the company purchased services totalling £6,590 (2023 - £3,209) from Carter & Ward of Wickford Limited, an associated company.
At the balance sheet date, the company owed Carter & Ward of Wickford Limited £197,500 
(2023 - £197,500). The loan is not subject to any interest charge.

 



 

Page 9