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REGISTERED NUMBER: 07162756 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

MHM Plant Group Limited

MHM Plant Group Limited (Registered number: 07162756)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MHM Plant Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M G Llewellyn
J K Llewellyn





REGISTERED OFFICE: Unit 3
Aberafan Road
Baglan Industrial Estate
Port Talbot
West Glamorgan
SA12 7DJ





REGISTERED NUMBER: 07162756 (England and Wales)





ACCOUNTANTS: MHA
MHA House
Charter Court
Swansea Enterprise Park
Swansea
SA7 9FS

MHM Plant Group Limited (Registered number: 07162756)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,379 14,816
Tangible assets 5 3,231,285 3,891,860
Investments 6 300 300
3,241,964 3,906,976

CURRENT ASSETS
Stocks 2,658,727 2,085,693
Debtors 7 1,614,230 3,913,838
Cash at bank 187,563 453,046
4,460,520 6,452,577
CREDITORS
Amounts falling due within one year 8 4,402,209 6,179,562
NET CURRENT ASSETS 58,311 273,015
TOTAL ASSETS LESS CURRENT LIABILITIES 3,300,275 4,179,991

CREDITORS
Amounts falling due after more than one year 9 (2,684,087 ) (2,983,514 )

PROVISIONS FOR LIABILITIES (78,646 ) (169,919 )
NET ASSETS 537,542 1,026,558

CAPITAL AND RESERVES
Called up share capital 600 600
Retained earnings 536,942 1,025,958
537,542 1,026,558

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

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

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 17 September 2024 and were signed on its behalf by:





J K Llewellyn - Director


MHM Plant Group Limited (Registered number: 07162756)

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

1. STATUTORY INFORMATION

MHM Plant Group 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
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 20% on cost and at varying rates on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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 20 (2022 - 23 ) .

MHM Plant Group Limited (Registered number: 07162756)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 40,337 31,414 71,751
AMORTISATION
At 1 January 2023 34,286 22,649 56,935
Charge for year 4,033 404 4,437
At 31 December 2023 38,319 23,053 61,372
NET BOOK VALUE
At 31 December 2023 2,018 8,361 10,379
At 31 December 2022 6,051 8,765 14,816

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 5,471,055
Additions 737,182
Disposals (1,341,467 )
At 31 December 2023 4,866,770
DEPRECIATION
At 1 January 2023 1,579,195
Charge for year 479,078
Eliminated on disposal (422,788 )
At 31 December 2023 1,635,485
NET BOOK VALUE
At 31 December 2023 3,231,285
At 31 December 2022 3,891,860

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 300
NET BOOK VALUE
At 31 December 2023 300
At 31 December 2022 300

MHM Plant Group Limited (Registered number: 07162756)

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

7. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 900,108 2,961,222
Other debtors 228,211 480,643
1,128,319 3,441,865

Amounts falling due after more than one year:
Amounts owed by associates 485,911 471,973

Aggregate amounts 1,614,230 3,913,838

Amounts due after more than year, comprise amounts due from Gileston Manor Properties Limited, a company with a common directorship. The balance comprises a loan which is unsecured and repayable on demand save that 366 days notice of repayment is required.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 199,166 199,166
Trade creditors 2,249,547 1,907,698
Taxation and social security 168,669 594,027
Other creditors 1,784,827 3,478,671
4,402,209 6,179,562

Included within other creditors is £1,665,554 (2022: £2,844,040) in relation to balances drawn down on the company's invoice discounting and fleet facilities at the year-end date. The creditors are secured by a fixed charge over all the of the debts purchased from the company and their associated rights, and fixed charges over the hire fleet of equipment operated by the company.

Included within other creditors, is a balance of £33,267 (2021: £33,267), relating to hire purchase commitments. The liability is secured over the assets to which they relate.

Included in bank loans, due within one year, are loans totalling £199,166 (2021: £199,166) which are interest bearing.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 334,167 539,996
Amounts owed to associates 200,000 -
Other creditors 2,149,920 2,443,518
2,684,087 2,983,514

Included within other creditors, due after more than one year, is a balance due to Mr. J. K. Llewellyn, a director and shareholder of the company, in the amount of £2,083,614 (2022: £2,334,920). The balance represents a loan which has been advanced on an unsecured basis. The loan is repayable on demand save that 366 days notice is required prior to repayment having to be made.

Included within other creditors, due after more than one year, is a balance of £66,306 (2021: £108,598), relating to hire purchase commitments. The liability is secured over the assets to which they relate.

Included in bank loans, due after more than one year, are loans totalling £334,171 (2021: £539,996) which are interest bearing.