Everest Plant Limited
Everest Plant Limited
Registered number: 04797391
Unaudited Financial Statements
For The Year Ended 31 July 2018
Daverns
Everest Plant Limited
Unaudited Financial Statements
For The Year Ended 31 July 2018
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Everest Plant Limited
Balance Sheet
As at
31 July 2018
Balance Sheet
Registered number:
04797391
For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 845,706 | 409,048 | |||
Page 1
Everest Plant Limited
Balance Sheet (continued)
As at
31 July 2018
Directors' responsibilities:
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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
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Everest Plant Limited
Notes to the Financial Statements
For The Year Ended 31 July 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.
1.3.
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 |
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| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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1.4.
Investment Properties
All investment properties are carried at fair value determined annually and 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 for. Changes in fair value are recognised in the profit and loss account.
1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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 profit and loss account as incurred.
1.6.
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 or deferred taxation assets and liabilities are not discounted.
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 balance sheet date.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2018 | 2017 | ||
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| Office and administration |
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Page 3
Everest Plant Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2018
3.
Tangible Assets
| Land & Property | ||||
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| Freehold | Investment Properties | Plant & Machinery | Motor Vehicles | |
| £ | £ | £ | £ | |
| Cost | ||||
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| Additions |
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| Disposals |
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| Depreciation | ||||
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| Provided during the period |
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| Disposals |
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| Net Book Value | ||||
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| Fixtures & Fittings | Total | |
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| Cost | ||
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| Additions |
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| Disposals |
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| Depreciation | ||
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| Net Book Value | ||
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
Page 4
Everest Plant Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2018
| 2018 | 2017 | ||
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| £ | £ | ||
| Plant & Machinery |
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4.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Corporation tax |
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| Other taxes and social security | - |
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| Other creditors |
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| Mortgage |
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| Accruals and deferred income |
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| Directors' loan accounts |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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Page 5
Everest Plant Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 July 2018
7.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
On 22 September 2015 and on 29 July 2016 the company granted charges to F Everest and Nottingham Building Society respectively in respect of 62 Oaklands Lane, Smallford, St Albans, Herts and 62 Oaklands Lane, St Albans, Herts.
| 2018 | 2017 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts | - | 59,761 | |
| Other Creditors | - | 294,000 |
8.
Obligations Under Finance Leases and Hire Purchase
| 2018 | 2017 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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| Between one and five years |
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10.
Related Party Transactions
Blaze Commercial Limited
F Everest if a director and shareholder in Blaze Commercial Limited
During the year Blaze Commercial Limited paid Everest Plant Limited £49,000 (2017: £48,000) in respect of rent and £74,805 (2017: £173,942) in respect of plant hire.
Also during the year the company sold goodwill and trade to Blaze Commercial Limited in the sum of £543,119. At the balance sheet date the amount due from Blaze Commercial Limited in respect of the disposal was £Nil.
11.
General Information
Everest Plant Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04797391 . The registered office is 149-151 Sparrows Herne, Bushey Heath, Watford, Hertfordshire, WD23 1AQ.
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