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Registered number: 05115071
G J Plant Hire Limited
Financial Statements
For The Year Ended 31 January 2025
Henniker & Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05115071
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 246,831 225,400
246,831 225,400
CURRENT ASSETS
Stocks 6 236,125 257,500
Debtors 7 6,942 7,845
Cash at bank and in hand 48,179 60,272
291,246 325,617
Creditors: Amounts Falling Due Within One Year 8 (246,110 ) (311,102 )
NET CURRENT ASSETS (LIABILITIES) 45,136 14,515
TOTAL ASSETS LESS CURRENT LIABILITIES 291,967 239,915
Creditors: Amounts Falling Due After More Than One Year 9 (7,580 ) (22,479 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,926 ) (2,926 )
NET ASSETS 281,461 214,510
CAPITAL AND RESERVES
Called up share capital 11 12 12
Profit and Loss Account 281,449 214,498
SHAREHOLDERS' FUNDS 281,461 214,510
Page 1
Page 2
For the year ending 31 January 2025 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Sharon Jackson
Director
25/09/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
G J Plant Hire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05115071 . The registered office is Tuthill Bungalow, Durham Lane Haswell, Durham, County Durham, DH6 2AU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Plant & Machinery 20% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. 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 the 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.
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.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2024 80,000
As at 31 January 2025 80,000
Amortisation
As at 1 February 2024 80,000
As at 31 January 2025 80,000
Net Book Value
As at 31 January 2025 -
As at 1 February 2024 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2024 210,000 8,929 25,999 2,650
Additions - 32,756 - -
As at 31 January 2025 210,000 41,685 25,999 2,650
...CONTINUED
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Page 5
Depreciation
As at 1 February 2024 - 8,801 11,375 2,650
Provided during the period - 8,221 3,656 -
As at 31 January 2025 - 17,022 15,031 2,650
Net Book Value
As at 31 January 2025 210,000 24,663 10,968 -
As at 1 February 2024 210,000 128 14,624 -
Computer Equipment Total
£ £
Cost
As at 1 February 2024 4,107 251,685
Additions 952 33,708
As at 31 January 2025 5,059 285,393
Depreciation
As at 1 February 2024 3,459 26,285
Provided during the period 400 12,277
As at 31 January 2025 3,859 38,562
Net Book Value
As at 31 January 2025 1,200 246,831
As at 1 February 2024 648 225,400
6. Stocks
2025 2024
£ £
Stock 236,125 257,500
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 3,088 7,886
Lily Ann Loan 3,925 -
Pension scheme prepayments (71 ) (41 )
6,942 7,845
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 5,580 5,580
Trade creditors 34,491 112,412
Bank loans and overdrafts 10,495 10,739
Other loans 16,000 -
Corporation tax 11,344 15,093
Other taxes and social security 1,821 362
VAT 1,167 3,065
Accruals and deferred income 1,210 1,210
Directors' loan accounts 164,002 162,641
246,110 311,102
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 3,908 9,051
Bank loans 3,672 13,428
7,580 22,479
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,580 5,580
Later than one year and not later than five years 3,908 -
Later than five years - 9,051
9,488 14,631
9,488 14,631
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 12 12
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