Liver Plant & Tool Hire Limited - Accounts to registrar (filleted) - small 18.2

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

Liver Plant & Tool Hire Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L Burgess

W Burgess

REGISTERED OFFICE:

Unit 23 Castor Street

Liverpool

Merseyside

L6 5AT

REGISTERED NUMBER:

05655526 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

4

143,498

236,007

CURRENT ASSETS

Stocks

3,000

3,000

Debtors

5

259,781

158,407

Cash at bank and in hand

299,240

107,243

562,021

268,650

CREDITORS

Amounts falling due within one year

6

283,414

122,025

NET CURRENT ASSETS

278,607

146,625

TOTAL ASSETS LESS CURRENT LIABILITIES

422,105

382,632

CREDITORS

Amounts falling due after more than one year

7

(24,726

)

(60,585

)

PROVISIONS FOR LIABILITIES

(25,496

)

-

NET ASSETS

371,883

322,047

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

371,683

321,847

SHAREHOLDERS' FUNDS

371,883

322,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2021 and were signed on its behalf by:

W Burgess - Director

1.	STATUTORY INFORMATION

Liver Plant & Tool 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.

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 etc

-

50% on reducing balance, 25% on reducing balance and 15% 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 Statement of Income and Retained Earnings, 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.

Covid 19

Following the national lockdown, the company like many others faced uncertainty and received help from the Government in the form of furlough payments and property related grants. The company has however been relatively unaffected by the pandemic and the directors consider appropriate to draw up the accounts on a going concern basis as a result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

1,392,926

Additions

49,184

Disposals

(141,351

)

At 31 March 2021

1,300,759

DEPRECIATION

At 1 April 2020

1,156,919

Charge for year

120,987

Eliminated on disposal

(120,645

)

At 31 March 2021

1,157,261

NET BOOK VALUE

At 31 March 2021

143,498

At 31 March 2020

236,007

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

Plant and

machinery

etc

£

COST

At 1 April 2020

198,988

Additions

15,100

Disposals

(25,283

)

At 31 March 2021

188,805

DEPRECIATION

At 1 April 2020

107,886

Charge for year

35,767

Eliminated on disposal

(6,321

)

At 31 March 2021

137,332

NET BOOK VALUE

At 31 March 2021

51,473

At 31 March 2020

91,102

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

256,434

153,638

Other debtors

3,347

4,769

259,781

158,407

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

48,000

-

Hire purchase contracts

34,053

41,360

Trade creditors

38,511

40,837

Taxation and social security

118,097

4,574

Other creditors

44,753

35,254

283,414

122,025

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Hire purchase contracts

24,726

60,585

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100

100

B

£1

100

100

200

200

9.	ULTIMATE CONTROLLING PARTY

The controlling party is City Tool Hire Ltd.

Following a change in ownership at the 1st April 2021, the new controlling party of the company is the Burgess family by virtue of their shareholdings in City Tool Hire Ltd.