PUGHS PLANT HIRE LIMITED
Statement of financial position
as at 30 September 2024
Tangible assets
289,564
1,364,400
Creditors: amounts falling due within one year
(409,041)
(600,413)
Net current liabilities
(290,682)
(472,088)
Total assets less current liabilities
(1,118)
892,312
Creditors: amounts falling due after more than one year
(59,188)
(724,938)
Net (liabilities)/assets
(60,306)
167,374
Called up share capital
30,100
30,100
Profit and loss account
(90,406)
137,274
Shareholders' funds
(60,306)
167,374
For the period ending 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 August 2025 and were signed on its behalf by
MATTHEW PUGH
Director
Company Registration No. 09106377
PUGHS PLANT HIRE LIMITED
Notes to the Accounts
for the period from 1 April 2023 to 30 September 2024
PUGHS PLANT HIRE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09106377. The registered office is 8 YARNOLDS LANE, BOURNHEATH, BROMSGROVE, WORCS, B61 9JG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual vale, over their expected useful lives in monthly instalments on the following bases:
Land & buildings
Leasehold Improvements - 10% straight line basis
Plant & machinery
15% to 20% reducing balance basis
Motor vehicles
15% to 20% reducing balance basis
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Leasing and Hire Purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives, or in the case of assets held under hire purchase agreements over their useful economic life. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Operating Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Profit and Loss account as incurred.
Provision is made for taxation deferred on the incremental liability approach in respect of all timing differences between the incidence of income and expenditure for taxation and accounts purposes that have originated but not revered at the balance sheet date.
PUGHS PLANT HIRE LIMITED
Notes to the Accounts
for the period from 1 April 2023 to 30 September 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
48,355
2,475,251
2,523,606
Additions
-
225,000
225,000
Revaluations
-
(2,077,719)
(2,077,719)
Disposals
(48,355)
-
(48,355)
At 30 September 2024
-
622,532
622,532
At 1 April 2023
33,494
1,125,712
1,159,206
Charge for the period
14,861
85,142
100,003
On disposals
(48,355)
(877,886)
(926,241)
At 30 September 2024
-
332,968
332,968
At 30 September 2024
-
289,564
289,564
At 31 March 2023
14,861
1,349,539
1,364,400
Amounts falling due within one year
Trade debtors
74,548
103,316
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
131,682
113,540
Obligations under finance leases and hire purchase contracts
-
275,031
Trade creditors
74,580
73,693
Taxes and social security
202,779
75,821
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
339,853
Taxes and social security
-
28,811
PUGHS PLANT HIRE LIMITED
Notes to the Accounts
for the period from 1 April 2023 to 30 September 2024
Allotted, called up and fully paid:
30,100 Ordinary shares of £1 each
30,100
30,100
9
Average number of employees
During the period the average number of employees was 7 (2023: 7).