Woodmace Plant Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08655109 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

WOODMACE PLANT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

11

DIRECTORS:

J Oak

S J Oak

Mrs J D Oak

REGISTERED OFFICE:

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

REGISTERED NUMBER:

08655109 (England and Wales)

ACCOUNTANTS:

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Intangible assets

4

36,068

45,290

Tangible assets

5

2,385,504

2,995,641

2,421,572

3,040,931

CURRENT ASSETS

Debtors

6

769,788

391,163

Cash at bank and in hand

12,347

2,327

782,135

393,490

CREDITORS

Amounts falling due within one year

7

1,381,876

1,443,193

NET CURRENT LIABILITIES

(599,741

)

(1,049,703

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,821,831

1,991,228

CREDITORS

Amounts falling due after more than one year

8

(461,018

)

(676,419

)

PROVISIONS FOR LIABILITIES

(204,901

)

(225,596

)

NET ASSETS

1,155,912

1,089,213

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,155,812

1,089,113

SHAREHOLDERS' FUNDS

1,155,912

1,089,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 31 May 2019 and were signed on its behalf by:

J Oak - Director

1.	STATUTORY INFORMATION

Woodmace Plant Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents work done during the period, excluding trade discounts and value added tax.

Intangible assets

Intangible assets are initially measured at cost . After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and and accumulated impairment losses.

Computer software is being amortised at 15% per annum on a straight line basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on cost

Commercial vehicles

-

20% on cost

Motor vehicles

-

20% on cost

Office equipment

-

15% on cost

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2018 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2018

and 31 March 2019

61,892

AMORTISATION

At 1 April 2018

16,602

Charge for year

9,222

At 31 March 2019

25,824

NET BOOK VALUE

At 31 March 2019

36,068

At 31 March 2018

45,290

5.	TANGIBLE FIXED ASSETS

Plant and

Commercial

Motor

Office

machinery

vehicles

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

3,223,345

823,298

33,539

2,455

4,082,637

Additions

80,495

121,037

-

-

201,532

Disposals

(451,163

)

(52,749

)

-

-

(503,912

)

At 31 March 2019

2,852,677

891,586

33,539

2,455

3,780,257

DEPRECIATION

At 1 April 2018

650,972

432,226

2,236

1,562

1,086,996

Charge for year

320,137

181,028

6,707

368

508,240

Eliminated on disposal

(158,964

)

(41,519

)

-

-

(200,483

)

At 31 March 2019

812,145

571,735

8,943

1,930

1,394,753

NET BOOK VALUE

At 31 March 2019

2,040,532

319,851

24,596

525

2,385,504

At 31 March 2018

2,572,373

391,072

31,303

893

2,995,641

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Commercial

Motor

machinery

vehicles

vehicles

Totals

£

£

£

£

COST

At 1 April 2018

2,615,222

415,146

33,539

3,063,907

Additions

78,000

121,036

-

199,036

Transfer to ownership

(1,144,547

)

(220,242

)

-

(1,364,789

)

Reclassification/transfer

495,354

166,709

-

662,063

At 31 March 2019

2,044,029

482,649

33,539

2,560,217

DEPRECIATION

At 1 April 2018

445,551

164,191

2,236

611,978

Charge for year

236,388

84,207

13,415

334,010

Transfer to ownership

(420,330

)

(82,515

)

-

(502,845

)

Reclassification/transfer

176,055

123,085

-

299,140

At 31 March 2019

437,664

288,968

15,651

742,283

NET BOOK VALUE

At 31 March 2019

1,606,365

193,681

17,888

1,817,934

At 31 March 2018

2,169,671

250,955

31,303

2,451,929

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

47,905

154,912

Amounts owed by group undertakings

233,619

217,600

Amounts owed by participating interests

6,231

-

Other debtors

467,363

2,300

Prepayments and accrued income

14,670

16,351

769,788

391,163

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

104,269

-

Hire purchase contracts (see note 9)

527,520

714,183

Trade creditors

392,259

178,029

Amounts owed to group undertakings

78,325

78,325

Corporation tax

37,513

48,772

Social security and other taxes

30,459

9,532

VAT

102,739

72,193

Other creditors

4,938

243,250

Wages control

4,819

5,508

Pension Control

619

-

Directors' current accounts

57,612

47,949

Accruals and deferred income

40,804

45,452

1,381,876

1,443,193

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 9)

461,018

676,419

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2019

2018

£

£

Gross obligations repayable:

Within one year

577,881

778,940

Between one and five years

516,158

735,065

1,094,039

1,514,005

Finance charges repayable:

Within one year

50,361

64,757

Between one and five years

55,140

58,646

105,501

123,403

Net obligations repayable:

Within one year

527,520

714,183

Between one and five years

461,018

676,419

988,538

1,390,602

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

104,269

-

Hire purchase contracts

988,538

1,390,602

1,092,807

1,390,602

11.	RELATED PARTY DISCLOSURES

TRANSACTIONS WITH GROUP COMPANIES

Non interest bearing loans on which no terms of repayment have been agreed. The amount due to

group companies at the balance sheet date amounted to £78,325 (2018 - £78,325).

Non interest bearing loans on which no terms of repayment have been agreed. The amount due from

group companies at the balance sheet date amounted to £233,619 (2018 - £217,600).

TRANSACTIONS WITH ASSOCIATED COMPANIES

Non interest bearing loans on which no terms of repayment have been agreed. The amount due from

associated companies at the balance sheet date amounted to £6,231 (2018 - NIL).

TRANSACTIONS WITH COMPANIES UNDER COMMON CONTROL

Non interest bearing loans on which no terms of repayment have been agreed. The amount due from

companies under common control at the balance sheet date amounted to £461,196 (2018 - NIL).

Non interest bearing loans on which no terms of repayment have been agreed. The amount due to

companies under common control at the balance sheet date amounted to £NIL (2018 - 243,250).

TRANSACTIONS WITH DIRECTORS

Non interest bearing loans on which no terms of repayment have been agreed. The amount due to

directors at the balance sheet date amounted to £12,663 (2018 - £24,000).

12.	ULTIMATE PARENT COMPANY

Branksome Park Holdings Limited was regarded as the company's ultimate parent company

throughout the current and previous period.

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 Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Woodmace Plant Limited for the year ended 31 March 2019 which

comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Woodmace Plant Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Woodmace Plant Limited and state those matters that we have agreed to state to the Board of Directors of Woodmace Plant Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Woodmace Plant Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Woodmace Plant Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Woodmace Plant Limited. You consider that Woodmace Plant Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Woodmace Plant Limited. 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 statutory financial statements.

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

31 May 2019