Sh Plant (Chesterfield) Limited,Ltd - AccountsLtd - Accounts
Sh Plant (Chesterfield) Limited,Ltd - AccountsLtd - Accounts
| Registered Number:06498512 |
For the year ended 31 December 2017
England and Wales
Unaudited Financial Statements
2
| As at |
Sh Plant (Chesterfield) Limited
Statement of Financial Position
| Registered Number : |
| £ |
| £ |
2016
2017
| Notes |
| Fixed assets |
| Intangible assets |
2
| Property, plant and equipment |
3
| Current assets |
| Inventories |
4
| Trade and other receivables |
5
| Cash and cash equivalents |
| Trade and other payables: amounts falling due within one |
| year |
(842,586 )
(821,378 )
6
80,976
Net current assets
| Total assets less current liabilities |
| Trade and other payables: amounts falling due after more |
| than one year |
(788,799 )
(700,565 )
7
(235,000 )
(223,000 )
| Provisions for liabilities |
Net assets
| Capital and reserves |
| Called up share capital |
| Revaluation reserve |
8
| Retained earnings |
Shareholders' funds
| 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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For the year ended 31 December 2017
Sh Plant (Chesterfield) Limited
Statement of Financial Position Continued
| These financial statements were approved and authorised for issue by the Board on |
| The notes form part of these financial statements |
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For the year ended 31 December 2017
Sh Plant (Chesterfield) Limited
Notes to the Financial Statements
Statutory Information
| Sh Plant (Chesterfield) Limited is a private limited company, limited by shares, domiciled in England and Wales, |
| registration number 06498512. |
| Registered address: |
Hawarden Tibshelf Road
Holmewood
Chesterfield
Derbyshire
S42 5SZ
| The presentation currency is £ sterling. |
| 1. Accounting policies |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
Goodwill
Property, plant and equipment
Plant and machinery
Computer equipment
Motor vehicles
| The company''s freehold properties were professionally valued in 0. This valuation has been reduced by subsequent |
| depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective |
| January 2015) the properties continue to be stated at that valuation less accumulated depreciation to date and that |
| valuation has not been updated. |
Inventories
Deferred tax
Hire purchase and leasing commitments
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For the year ended 31 December 2017
Sh Plant (Chesterfield) Limited
Notes to the Financial Statements Continued
Pension costs and other post-retirement benefits
Finanacial Instruments
| Financial assets |
| Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and |
| carried forward at transaction price. Financial assets are derecognised when: |
| (a) the contractual rights to the cash flows from the asset expire or are settled; |
| (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party; or |
| (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset |
| to an unrelated third party without imposing additional restrictions. |
| Financial liabilities |
| Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and |
| carried forward at transaction price. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is |
| discharged, cancelled or expires. |
| The company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
| Basic financial instruments are recognised initially at transaction value and subsequently measured at their |
| settlement value with the exception of bank loans which are subsequently measured at amortised cost using the |
| effective interest rate method. |
| 2. Intangible fixed assets |
Goodwill
| Cost or valuation |
| £ |
| At 01 January 2017 |
| At 31 December 2017 |
| Amortisation |
| At 01 January 2017 |
Charge for year
| At 31 December 2017 |
| Net book value |
| At 31 December 2017 |
| At 31 December 2016 |
8,437
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For the year ended 31 December 2017
Sh Plant (Chesterfield) Limited
Notes to the Financial Statements Continued
| 3. Property, plant and equipment |
| Total |
| Computer |
| equipment |
Motor vehicles
| Plant and |
| machinery |
| £ |
| £ |
| £ |
| £ |
| Cost or |
| valuation |
| At 01 January 2017 |
| Additions |
(16,995 )
(187,000 )
| Disposals |
(203,995 )
| At 31 December 2017 |
| Provision for depreciation and impairment |
| At 01 January 2017 |
Charge for year
(112,815 )
(2,549 )
(110,266 )
| On disposal |
| At 31 December 2017 |
| At 31 December 2017 |
| Net book value |
| At 31 December 2016 |
| 4. Inventories |
2016
2017
| £ |
| £ |
| Stocks |
| 5. Trade and other receivables |
2016
2017
| £ |
| £ |
| Trade debtors |
| Other debtors |
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For the year ended 31 December 2017
Sh Plant (Chesterfield) Limited
Notes to the Financial Statements Continued
| 6. Trade and other payables: amounts falling due within one year |
2016
2017
| £ |
| £ |
| Bank loans and overdraft (secured) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. Trade and other payables: amounts falling due after more than one year |
2016
2017
| £ |
| £ |
| Other creditors |
| 8. Reserves |
| Total |
| £ |
| Revaluation reserve at 01 January 2017 |
25,072
| Transfer to profit and loss account |
(25,072)
-
| Revaluation reserve at 31 December 2017 |
| 9. Related party transactions |
| The company is controlled by the directors who have a beneficial interest in a majority of the issued share capital. |
| Dividends paid to the directors and their associates amounted to £55,000 |
| The directors have given personal guarantees in respect of the bank overdraft of the company and the company's |
| credit card facility 31 December 2016 and 31 December 2017 these facilities amounted to £290,000 and £5,000 |
| respectively. |
| The company rents premises from the directors on an arm's length basis and the rental payable for the year was |
| £5,400 (2016 £4,950). |
| Interest at the rate of 4.5% was provided in respect of the directors' loan accounts. The amount of interest charged |
| for the year was £2,250 (2016 £nil). |
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For the year ended 31 December 2017
Sh Plant (Chesterfield) Limited
Notes to the Financial Statements Continued
| 10. Directors advances and guarantees |
| At 01/01/2017 |
Loaned
Repaid
| At 31/12/2017 |
| £ |
| £ |
| £ |
| £ |
Hazel McGrael
(33,950 )
(31,823 )
(33,950)
(31,823)
33,468
35,595
Terrence McGrael
(33,950 )
(31,823 )
(9,681 )
(33,950)
(41,504)
33,468
35,595
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