ATM Plant Hire Limited - Period Ending 2016-12-31

Registration number: 02143943

ATM Plant Hire Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

Brodericks GBC
Chartered Certified Accountants
Melbourne House
27 Thorne Road
Doncaster
South Yorkshire
DN1 2EZ

ATM Plant Hire Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4 to 5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 to 11

ATM Plant Hire Limited

Company Information

Directors	Mr Jason Tutill Mr Jarrod Tutill

Registered office

8 Hanbury Close Balby Doncaster South Yorkshire DN4 9AW

Accountants

Brodericks GBC Chartered Certified Accountants Melbourne House 27 Thorne Road Doncaster South Yorkshire DN1 2EZ

Page 1

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
ATM Plant Hire Limited
for the Year Ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ATM Plant Hire Limited for the year ended 31 December 2016 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of ATM Plant Hire Limited, as a body, in accordance with the terms of our engagement letter dated 19 May 2009. Our work has been undertaken solely to prepare for your approval the accounts of ATM Plant Hire Limited and state those matters that we have agreed to state to the Board of Directors of ATM Plant Hire Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ATM Plant Hire Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ATM Plant Hire Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ATM Plant Hire Limited. You consider that ATM Plant Hire 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 accounts of ATM Plant Hire 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 accounts.

......................................

Brodericks GBC
Chartered Certified Accountants
Melbourne House
27 Thorne Road
Doncaster
South Yorkshire
DN1 2EZ

27 February 2017

Page 2

ATM Plant Hire Limited

Statement of Comprehensive Income for the Year Ended 31 December 2016

	Note	2016 £	2015 £
Profit for the year		339,127	374,203
Total comprehensive income for the year		339,127	374,203

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 3

ATM Plant Hire Limited

(Registration number: 02143943)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Tangible assets	4	918,237	872,656
Investment property	5	160,000	160,000
		1,078,237	1,032,656
Current assets
Debtors	6	191,448	636,749
Cash at bank and in hand		880,602	350,393
		1,072,050	987,142
Creditors: Amounts falling due within one year	7	(124,639)	(83,277)
Net current assets		947,411	903,865
Net assets		2,025,648	1,936,521
Capital and reserves
Called up share capital		14,166	14,166
Other reserves		5,834	5,834
Profit and loss account		2,005,648	1,916,521
Total equity		2,025,648	1,936,521

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 4

ATM Plant Hire Limited

(Registration number: 02143943)
Balance Sheet as at 31 December 2016

Approved and authorised by the Board on 27 February 2017 and signed on its behalf by:
 

.........................................

Mr Jason Tutill

Director

.........................................

Mr Jarrod Tutill

Director

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 5

ATM Plant Hire Limited

Statement of Changes in Equity for the Year Ended 31 December 2016

	Share capital £	Other reserves £	Profit and loss account £	Total £
At 1 January 2016	14,166	5,834	1,916,521	1,936,521
Profit for the year	-	-	339,127	339,127
Total comprehensive income	-	-	339,127	339,127
Dividends	-	-	(250,000)	(250,000)
At 31 December 2016	14,166	5,834	2,005,648	2,025,648

	Share capital £	Other reserves £	Profit and loss account £	Total £
At 1 January 2015	14,166	5,834	1,792,318	1,812,318
Profit for the year	-	-	374,203	374,203
Total comprehensive income	-	-	374,203	374,203
Dividends	-	-	(250,000)	(250,000)
At 31 December 2015	14,166	5,834	1,916,521	1,936,521

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 6

ATM Plant Hire Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
8 Hanbury Close
Balby
Doncaster
South Yorkshire
DN4 9AW

These financial statements were authorised for issue by the Board on 27 February 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance basis
Fixtures and fittings	15% reducing balance basis
Motor vehicles	25% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 7

ATM Plant Hire Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2015 - 16).

Page 8

ATM Plant Hire Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £
Cost or valuation
At 1 January 2016	50,000	807	179,989	1,016,278
Additions	-	-	74,659	207,450
Disposals	-	-	(57,215)	(102,960)
At 31 December 2016	50,000	807	197,433	1,120,768
Depreciation
At 1 January 2016	-	546	86,097	287,775
Charge for the year	-	29	33,960	134,903
Eliminated on disposal	-	-	(27,297)	(65,242)
At 31 December 2016	-	575	92,760	357,436
Carrying amount
At 31 December 2016	50,000	232	104,673	763,332
At 31 December 2015	50,000	261	93,892	728,503

	Total £
Cost or valuation
At 1 January 2016	1,247,074
Additions	282,109
Disposals	(160,175)
At 31 December 2016	1,369,008
Depreciation
At 1 January 2016	374,418
Charge for the year	168,892
Eliminated on disposal	(92,539)
At 31 December 2016	450,771
Carrying amount
At 31 December 2016	918,237
At 31 December 2015	872,656

Page 9

ATM Plant Hire Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Included within the net book value of land and buildings above is £50,000 (2015 - £50,000) in respect of freehold land and buildings.
 

5	Investment properties

	2016 £
At 1 January	160,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

	2016 £	2015 £
Trade debtors	133,264	365,510
Other debtors	58,184	271,239
Total current trade and other debtors	191,448	636,749

7

Creditors

	Note	2016 £	2015 £
Due within one year
Taxation and social security		28,012	29,314
Other creditors		96,627	53,963
		124,639	83,277

8

Dividends

	2016	2015
	£	£
Final dividend of £75.00 (2015 - £75.00) per ordinary share	250,000	250,000

9	Transition to FRS 102

Transfer of revaluation reserve

Balance Sheet at 1 January 2015
 

Page 10

ATM Plant Hire Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Capital and reserves
Revaluation reserve		(17,998)	-	-	(17,998)
Profit and loss account		(1,774,320)	1,792,318	-	17,998
Total equity		(1,792,318)	1,792,318	-	-

Page 11