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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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A.J.K. (PLANT HIRE) LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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A.J.K. (PLANT HIRE) LIMITED |
A.J.K. (PLANT HIRE) LIMITED (REGISTERED NUMBER: 00751595) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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A.J.K. (PLANT HIRE) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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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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BANKERS: |
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82 King Street |
Knutsford |
Cheshire |
WA16 6EG |
A.J.K. (PLANT HIRE) LIMITED (REGISTERED NUMBER: 00751595) |
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BALANCE SHEET |
31 MARCH 2017 |
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31/3/17 | 31/3/16 |
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 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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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. |
A.J.K. (PLANT HIRE) LIMITED (REGISTERED NUMBER: 00751595) |
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BALANCE SHEET - continued |
31 MARCH 2017 |
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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
behalf by: |
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A.J.K. (PLANT HIRE) LIMITED (REGISTERED NUMBER: 00751595) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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A.J.K. (Plant Hire) Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These are the first financial statements the Company has prepared in accordance with Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of |
Ireland'' (FRS 102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The |
financial statements for the year ended 31 March 2016 were prepared in accordance with Financial |
Reporting Standard for Smaller Entities (effective January 2015) (FRSSE). |
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Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and |
accounting policy choices differ from the FRSSE. Consequently the directors have amended certain |
accounting policies to comply with FRS 102. The directors have also taken advantage of certain |
exemptions from the requirements of FRS 102 permitted by FRS 102 Chapter 35 ''Transition to FRS''. |
There are no changes in the prior period on transition to FRS 102 as the directors consider them to be |
immaterial to financial statements |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks and work in progress 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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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling |
costs in bringing stocks to their present location and condition. |
A.J.K. (PLANT HIRE) LIMITED (REGISTERED NUMBER: 00751595) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Financial Assets |
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Trade, group and other debtors |
Trade, group and other debtors (including accrued income) which are receivable within one year and |
which do not constitute a financing transaction are initially measured at the transaction price and |
subsequently measured at amortised cost, being the transaction price less any amounts settled and |
any impairment losses. |
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A provision for impairment of trade debtors is established where there is objective evidence that the |
amounts due will not be collected according to the original terms of the contract. Impairment losses |
are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present |
value of the future cash flows discounted using the original effective interest rate. Subsequent |
reversals of an impairment loss that objectively relate to an event occurring after the impairment loss |
was recognised, are recognised immediately in profit or loss. |
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Financial Liabilities |
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Trade, group and other creditors |
Trade, group and other creditors (including accruals) payable within one year that do not constitute a |
financing transaction are initially measured at the transaction price and subsequently measured at |
amortised cost, being transaction price less any amounts settled. |
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Derecognition of financial assets and liabilities |
A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or |
substantially all the risks and rewards of ownership are transferred to another party, or if some |
significant risks and rewards of ownership are retained but control of the asset has transferred to |
another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability |
(or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled |
or expires. |
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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. |
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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. |
A.J.K. (PLANT HIRE) LIMITED (REGISTERED NUMBER: 00751595) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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Disposals | ( |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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A.J.K. (PLANT HIRE) LIMITED (REGISTERED NUMBER: 00751595) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
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COST |
At 1 April 2016 |
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Transfer to ownership | (399,750 | ) |
At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Transfer to ownership | (133,303 | ) |
At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Trade debtors |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation |
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Social security and other taxes |
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VAT | 52,939 | 73,982 |
Other creditors |
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Directors' current accounts | 44,641 | 45,280 |
Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Hire purchase contracts |
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A.J.K. (PLANT HIRE) LIMITED (REGISTERED NUMBER: 00751595) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31/3/17 | 31/3/16 |
£ | £ |
Hire purchase contracts | 231,691 | 561,170 |
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Hire purchase creditors are secured on the assets to which they relate. |
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9. | PROVISIONS FOR LIABILITIES |
31/3/17 | 31/3/16 |
£ | £ |
Deferred tax | 315,994 | 343,416 |
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Deferred |
tax |
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Balance at 1 April 2016 |
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Capital allowances in excess |
of depreciation | (27,422 | ) |
Trading losses |
Balance at 31 March 2017 |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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