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REGISTERED NUMBER: 05135580 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Holmes Plant & Construction Limited

Holmes Plant & Construction Limited (Registered number: 05135580)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Holmes Plant & Construction Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr J B Holmes
Mr A T Holmes
Mr B L Holmes
Mr B L G Holmes





SECRETARY: Mrs T J Holmes





REGISTERED OFFICE: Tithe Barn
Hall Lane
Otley
Ipswich
Suffolk
IP6 9PA





REGISTERED NUMBER: 05135580 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Holmes Plant & Construction Limited (Registered number: 05135580)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,385,629 3,279,268
4,385,629 3,279,268

CURRENT ASSETS
Debtors 6 1,452,381 1,079,162
Cash at bank and in hand 395,668 311,118
1,848,049 1,390,280
CREDITORS
Amounts falling due within one year 7 1,708,380 1,289,395
NET CURRENT ASSETS 139,669 100,885
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,525,298

3,380,153

CREDITORS
Amounts falling due after more than one
year

8

(1,332,231

)

(1,108,388

)

PROVISIONS FOR LIABILITIES 12 (882,707 ) (469,025 )
NET ASSETS 2,310,360 1,802,740

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 2,310,160 1,802,540
SHAREHOLDERS' FUNDS 2,310,360 1,802,740

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Holmes Plant & Construction Limited (Registered number: 05135580)

Balance Sheet - continued
31 May 2023


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 9 February 2024 and were signed on its behalf by:




Mr A T Holmes - Director



Mr B L Holmes - Director


Holmes Plant & Construction Limited (Registered number: 05135580)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Holmes Plant & Construction 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
The goodwill is being amortised over a period of five years, commencing this year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Hire plant and machinery - various rates on reducing balance
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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.

Holmes Plant & Construction Limited (Registered number: 05135580)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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.

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.

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 27 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 100,000
AMORTISATION
At 1 June 2022
and 31 May 2023 100,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

Holmes Plant & Construction Limited (Registered number: 05135580)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Plant
Plant and hire Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 120,556 6,023,840 279,018 9,343 6,432,757
Additions 76,542 1,944,090 182,325 5,679 2,208,636
Disposals (1,989 ) (776,973 ) (17,000 ) - (795,962 )
At 31 May 2023 195,109 7,190,957 444,343 15,022 7,845,431
DEPRECIATION
At 1 June 2022 47,062 2,936,316 165,029 5,082 3,153,489
Charge for year 29,689 765,372 36,411 1,988 833,460
Eliminated on disposal (398 ) (522,499 ) (4,250 ) - (527,147 )
At 31 May 2023 76,353 3,179,189 197,190 7,070 3,459,802
NET BOOK VALUE
At 31 May 2023 118,756 4,011,768 247,153 7,952 4,385,629
At 31 May 2022 73,494 3,087,524 113,989 4,261 3,279,268

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant
hire Motor
equipment vehicles Totals
£    £    £   
COST
At 1 June 2022 3,787,154 - 3,787,154
Additions 1,713,220 90,000 1,803,220
Transfer to ownership (1,018,819 ) - (1,018,819 )
At 31 May 2023 4,481,555 90,000 4,571,555
DEPRECIATION
At 1 June 2022 1,411,314 - 1,411,314
Charge for year 558,085 1,875 559,960
Transfer to ownership (561,196 ) - (561,196 )
At 31 May 2023 1,408,203 1,875 1,410,078
NET BOOK VALUE
At 31 May 2023 3,073,352 88,125 3,161,477
At 31 May 2022 2,375,840 - 2,375,840

Holmes Plant & Construction Limited (Registered number: 05135580)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,289,049 859,762
Amounts owed by associates 143,703 214,570
Other debtors 14,400 -
Prepayments 5,229 4,830
1,452,381 1,079,162

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 62,500 62,500
Other loans (see note 9) 49,155 35,614
Hire purchase contracts (see note 10) 889,282 762,994
Trade creditors 458,667 274,174
Social security and other taxes 25,846 22,764
VAT 74,169 13,640
Other creditors 9,774 9,063
Directors' current accounts 100,966 79,586
Accrued expenses 38,021 29,060
1,708,380 1,289,395

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 67,708 130,208
Hire purchase contracts (see note 10) 1,264,523 978,180
1,332,231 1,108,388

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 62,500 62,500
Mrs T Holmes loan 49,155 35,614
111,655 98,114

Amounts falling due between one and two years:
Bank loans - 1-2 years 62,500 62,500

Holmes Plant & Construction Limited (Registered number: 05135580)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 5,208 67,708

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Gross obligations repayable:
Within one year 992,659 832,416
Between one and five years 1,437,174 1,069,077
2,429,833 1,901,493

Finance charges repayable:
Within one year 103,377 69,422
Between one and five years 172,651 90,897
276,028 160,319

Net obligations repayable:
Within one year 889,282 762,994
Between one and five years 1,264,523 978,180
2,153,805 1,741,174

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 2,153,805 1,741,174

Assets purchased under hire purchase contracts are secured against the asset to which they relate.

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 882,707 469,025

Holmes Plant & Construction Limited (Registered number: 05135580)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 469,025
Movement in year 413,682
Balance at 31 May 2023 882,707