A. E. Rowlands Plant Hire Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05718368 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

A. E. Rowlands Plant Hire Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

Mrs V Williams

N G Williams

M D Williams

M Williams

Secretary:

N G Williams

Registered office:

Plant Hire Depot,

Pant-Y-Buarth,

Gwernaffield,

Mold

Flintshire

CH7 5ER

Registered number:

05718368 (England and Wales)

Accountants:

Ridgway and Company

Chartered Accountants

The Office,

Ffordd Pentre Bach, Nercwys.

Mold

Flintshire

CH7 4EG

FIXED ASSETS

Intangible assets

4

8,000

10,000

Tangible assets

5

1,943,415

1,993,447

1,951,415

2,003,447

CURRENT ASSETS

Stocks

1,850

1,850

Debtors

6

821,354

822,784

Prepayments and accrued income

1,061

669

Cash at bank

403,316

60,492

1,227,581

885,795

CREDITORS

Amounts falling due within one year

7

631,503

608,547

NET CURRENT ASSETS

596,078

277,248

TOTAL ASSETS LESS CURRENT LIABILITIES

2,547,493

2,280,695

CREDITORS

Amounts falling due after more than one year

8

(426,858

)

(586,564

)

PROVISIONS FOR LIABILITIES

(352,008

)

(270,569

)

NET ASSETS

1,768,627

1,423,562

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

1,718,627

1,373,562

SHAREHOLDERS' FUNDS

1,768,627

1,423,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2022 and were signed on its behalf by:

Mrs V Williams - Director

N G Williams - Director

M D Williams - Director

M Williams - Director

1.	STATUTORY INFORMATION

A. E. Rowlands Plant Hire 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

5% on reducing balance

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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 25 (2021 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

40,000

AMORTISATION

At 1 April 2021

30,000

Charge for year

2,000

At 31 March 2022

32,000

NET BOOK VALUE

At 31 March 2022

8,000

At 31 March 2021

10,000

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2021

202,292

2,572,972

7,296

Additions

-

396,840

-

Disposals

-

(108,600

)

-

At 31 March 2022

202,292

2,861,212

7,296

DEPRECIATION

At 1 April 2021

21,973

884,028

7,150

Charge for year

9,016

358,249

37

Eliminated on disposal

-

(57,755

)

-

At 31 March 2022

30,989

1,184,522

7,187

NET BOOK VALUE

At 31 March 2022

171,303

1,676,690

109

At 31 March 2021

180,319

1,688,944

146

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2021

236,687

12,751

3,031,998

Additions

-

78

396,918

Disposals

-

-

(108,600

)

At 31 March 2022

236,687

12,829

3,320,316

DEPRECIATION

At 1 April 2021

123,624

1,776

1,038,551

Charge for year

28,266

537

396,105

Eliminated on disposal

-

-

(57,755

)

At 31 March 2022

151,890

2,313

1,376,901

NET BOOK VALUE

At 31 March 2022

84,797

10,516

1,943,415

At 31 March 2021

113,063

10,975

1,993,447

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

821,354

822,784

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Hire purchase contracts

291,037

314,826

Trade creditors

158,038

171,067

Taxation and social security

125,490

54,456

Other creditors

56,938

68,198

631,503

608,547

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

46,266

50,000

Hire purchase contracts

380,592

536,564

426,858

586,564