Plant Services (Gateshead) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00899109 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2023

for

Plant Services (Gateshead) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S B Herbert

Mrs P Treharne

SECRETARY:

T N Mason

REGISTERED OFFICE:

Tyne Slipway West Works

River Drive

South Shields

Tybe & Wear

NE33 1LH

REGISTERED NUMBER:

00899109 (England and Wales)

ACCOUNTANTS:

Nick Brajkovich Limited

Chartered Accountants

29 Withers Avenue

Warrington

Cheshire

WA2 8EU

FIXED ASSETS

Tangible assets

4

16,716

18,573

CURRENT ASSETS

Stocks

26,000

52,280

Debtors

5

289,677

371,713

Cash at bank

1,666

15,158

317,343

439,151

CREDITORS

Amounts falling due within one year

6

70,790

147,555

NET CURRENT ASSETS

246,553

291,596

TOTAL ASSETS LESS CURRENT LIABILITIES

263,269

310,169

CREDITORS

Amounts falling due after more than one year

7

(258,210

)

(304,810

)

PROVISIONS FOR LIABILITIES

8

(3,200

)

(3,500

)

NET ASSETS

1,859

1,859

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

1,659

1,659

SHAREHOLDERS' FUNDS

1,859

1,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 19 April 2024 and were signed on its behalf by:

S B Herbert - Director

1.	STATUTORY INFORMATION

Plant Services (Gateshead) 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.

Going Concern

Whilst the financial statements report that the company is technically insolvent, the company has, since the year end, secured the finance necessary for its continued operations and it continues to have the full support of its directors. Therefore, the financial statements have been drawn up on the going concern basis.

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.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 30 (2022 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 August 2022

and 31 July 2023

148,614

27,691

112,545

288,850

DEPRECIATION

At 1 August 2022

130,043

27,690

112,544

270,277

Charge for year

1,857

-

-

1,857

At 31 July 2023

131,900

27,690

112,544

272,134

NET BOOK VALUE

At 31 July 2023

16,714

1

1

16,716

At 31 July 2022

18,571

1

1

18,573

5.

DEBTORS

31.7.23

31.7.22

£

£

Amounts falling due within one year:

Other debtors

283,939

365,975

Amounts falling due after more than one year:

Other debtors

5,738

5,738

Aggregate amounts

289,677

371,713

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Bank loans and overdrafts

46,600

46,600

Trade creditors

-

13,958

Taxation and social security

19,932

80,997

Other creditors

4,258

6,000

70,790

147,555

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.23

31.7.22

£

£

Bank loans

85,433

132,033

Amounts owed to participating interests

172,777

172,777

258,210

304,810

8.	PROVISIONS FOR LIABILITIES

31.7.23

31.7.22

£

£

Deferred tax

Accelerated capital allowances

3,200

3,500

Deferred

tax

£

Balance at 1 August 2022

3,500

Credit to Income Statement during year

(300

)

Balance at 31 July 2023

3,200

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 July 2023 and the period ended 31 July 2022:

31.7.23

31.7.22

£

£

Mrs P Treharne

Balance outstanding at start of year

-

83,844

Amounts repaid

-

(83,844

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

10.	RELATED PARTY DISCLOSURES

At the balance sheet date there was an amount of £172,777 (2019: £172,777) owed by the company to its parent undertaking.