| REGISTERED NUMBER: |
| VQ PLANT HIRE AND CIVIL ENGINEERING |
| LIMITED |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| REGISTERED NUMBER: |
| VQ PLANT HIRE AND CIVIL ENGINEERING |
| LIMITED |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| VQ PLANT HIRE AND CIVIL ENGINEERING |
| LIMITED (REGISTERED NUMBER: NI618947) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Statement of Financial Position | 3 |
| Notes to the Financial Statements | 5 |
| VQ PLANT HIRE AND CIVIL ENGINEERING |
| LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 36-38 Northland Row |
| Dungannon |
| Co. Tyrone |
| BT71 6AP |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Vq Plant Hire And Civil Engineering |
| Limited |
| The following reproduces the text of the report prepared for the directors in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies. |
| In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the Company for the year ended 31 October 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the accounting records and information and explanations you have given to us. |
| This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report. |
| We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements. |
| You have acknowledged on the Statement of Financial Position as at 31 October 2024 your duty to ensure that the Company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the Company is exempt from the statutory requirement for an audit for the year. |
| We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. |
| Chartered Accountants |
| 36-38 Northland Row |
| Dungannon |
| Co. Tyrone |
| BT71 6AP |
| VQ PLANT HIRE AND CIVIL ENGINEERING |
| LIMITED (REGISTERED NUMBER: NI618947) |
| Statement of Financial Position |
| 31 OCTOBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| NON-CURRENT ASSETS |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Receivables: amounts falling due within one year |
6 |
| Cash at bank |
| PAYABLES |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PAYABLES |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company. |
| VQ PLANT HIRE AND CIVIL ENGINEERING |
| LIMITED (REGISTERED NUMBER: NI618947) |
| Statement of Financial Position - continued |
| 31 OCTOBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| VQ PLANT HIRE AND CIVIL ENGINEERING |
| LIMITED (REGISTERED NUMBER: NI618947) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 1. | STATUTORY INFORMATION |
| Vq Plant Hire And Civil Engineering Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets. |
| Revenue |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Property, plant and equipment |
| Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows: |
| Plant and machinery | 25 % Reducing Balance |
| Fixtures, fittings and equipment | 25 % Reducing Balance |
| Motor vehicles | 25 % Reducing Balance |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement. |
| VQ PLANT HIRE AND CIVIL ENGINEERING |
| LIMITED (REGISTERED NUMBER: NI618947) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Cash flow statement |
| The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company. |
| Trade and other receivables |
| Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. |
| Trade and other payables |
| Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2023 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 6. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade receivables |
| Other receivables | 34,169 | 34,169 |
| Amounts owed by group undertakings |
| Directors' current accounts | - | 33,451 |
| Tax |
| VAT |
| Prepayments and accrued income |
| VQ PLANT HIRE AND CIVIL ENGINEERING |
| LIMITED (REGISTERED NUMBER: NI618947) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 7. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade payables |
| Tax | ( |
) |
| Pension payable | 844 | 585 |
| Directors' current accounts | 3,061 | - |
| Accruals and deferred income |
| 8. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Hire purchase contracts |
| 9. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 62,929 | 43,695 |
| Deferred tax |
| £ |
| Balance at 1 November 2023 |
| Provided during year |
| Balance at 31 October 2024 |
| 10. | RELATED PARTY DISCLOSURES |
| The directors of VQ Plant Hire and Civil Engineering Limited are also directors in VQ Property Ltd. The company has advanced funds to VQ Property Ltd. At 31 October 2024 the balance owed to the company was £130,000. |