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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 APRIL 2018 TO 29 MARCH 2019 |
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FOR |
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G & J STEELE PLANT HIRE LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 APRIL 2018 TO 29 MARCH 2019 |
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FOR |
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G & J STEELE PLANT HIRE LIMITED |
G & J STEELE PLANT HIRE LIMITED (REGISTERED NUMBER: 04620554) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2018 TO 29 MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 6 |
G & J STEELE PLANT HIRE LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 APRIL 2018 TO 29 MARCH 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1 The Old Stables |
Eridge Park |
Tunbridge Wells |
Kent |
TN3 9JT |
G & J STEELE PLANT HIRE LIMITED (REGISTERED NUMBER: 04620554) |
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BALANCE SHEET |
29 MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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G & J STEELE PLANT HIRE LIMITED (REGISTERED NUMBER: 04620554) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2018 TO 29 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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G & J Steele Plant Hire Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
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 cost |
convention. |
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Turnover |
Turnover is recognised to the extent it is probable that economic benefit will flow to the company, and that it can |
be reliably measured. Turnover is measured at the fair value of consideration received or receivable, net of |
discounts, rebates, VAT and other sales taxes. |
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Turnover from the provision of services is recognised in the period in which the services are provided in |
accordance with the stage of completion of the contract when the following conditions are satisfied: |
- the amount of turnover can be measured reliably; |
- it is probable that consideration due will be received; |
- the stage of completion of the contract at the reporting date can be measured reliably, and |
- the costs incurred, or to be incurred, can be measured reliably. |
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Turnover recognised but not billed at the reporting date is treated as amounts recoverable on contracts due |
within one year. |
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Tangible fixed assets |
Tangible fixed assets are held under the cost model, and are stated at their historical cost less accumulated |
depreciation and impairment losses. Cost includes directly attributable expenditure in bringing the asset into the |
location and condition necessary for operation. |
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The assets' residual values; useful lives and depreciation methods are reviewed periodically and prospectively |
adjusted where appropriate; or where there is an indication of a significant change since the last reporting date. |
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Gains and losses on disposal are determined by comparing the proceeds with the carrying amount, and are |
recognised in the statement of income and retained earnings. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors; loans from banks and other third parties; loans to |
related parties and investments in non-puttable ordinary shares. |
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Debt instruments, other than those wholly payable or receivable within one year, including loans and other |
accounts receivable and payable are initially measured at the present value of future cash flows, and |
subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable |
or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of |
consideration expected to be paid or received. If the arrangements of a short term instrument constitute a |
financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a |
rate of interest that is not at a market rate, the financial asset or liability is initially measured at the present value |
of future cash flows discounted at a market rate of interest for a similar debt instrument, and subsequently |
measured at amortised cost. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
for objective evidence of impairment, and such impairments is recognised in total comprehensive income. |
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G & J STEELE PLANT HIRE LIMITED (REGISTERED NUMBER: 04620554) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2018 TO 29 MARCH 2019 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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Cash and cash equivalents |
Cash is represented by cash in hand and bank current and short term deposit accounts. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2018 |
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Additions |
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At 29 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for period |
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At 29 March 2019 |
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NET BOOK VALUE |
At 29 March 2019 |
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At 31 March 2018 |
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G & J STEELE PLANT HIRE LIMITED (REGISTERED NUMBER: 04620554) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2018 TO 29 MARCH 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Amounts recoverable on contract |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
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Balance at 1 April 2018 |
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Accelerated capital allowances | (10,006 | ) |
Balance at 29 March 2019 |
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8. | RELATED PARTY DISCLOSURES |
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G & J Steele Plant Hire Limited is a subsidiary of G & J Steele (Holdings) Limited. |
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During the year plant was hired from G & J Steele (Holdings) Limited totalling £212,533 (2018: £164,542). |
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At the year end G & J Steele Plant Hire Limited was owed £318,112 (2018: £126,606) by G & J Steele (Holdings) |
Limited. |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of G A Steele who owns the controlling share of G & J Steele (Holdings) |
Limited, the parent company. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
G & J STEELE PLANT HIRE LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only |
required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of |
Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of G & J Steele Plant Hire Limited for the period ended 29 March 2019 which comprise the Income |
Statement, Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of G & J Steele Plant Hire Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G & J Steele Plant Hire Limited and state those matters that we have agreed to state to the Board of Directors of G & J Steele Plant Hire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G & J Steele Plant Hire Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that G & J Steele Plant Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G & J Steele Plant Hire Limited. You consider that G & J Steele Plant Hire Limited is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial statements of G & J Steele 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 financial statements. |
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1 The Old Stables |
Eridge Park |
Tunbridge Wells |
Kent |
TN3 9JT |
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