IRIS Accounts Production v24.3.0.553 SC208669 director 1.2.23 31.1.24 31.1.24 The company's principal activities during the year were those of plant hire and sales of capital plant. The company also operated a hard rock quarry. true false true true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2086692023-01-31SC2086692024-01-31SC2086692023-02-012024-01-31SC2086692022-01-31SC2086692022-02-012023-01-31SC2086692023-01-31SC208669ns15:Scotland2023-02-012024-01-31SC208669ns14:PoundSterling2023-02-012024-01-31SC208669ns10:Director12023-02-012024-01-31SC208669ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC208669ns10:FRS1022023-02-012024-01-31SC208669ns10:Audited2023-02-012024-01-31SC208669ns10:FullAccounts2023-02-012024-01-31SC208669ns10:OrdinaryShareClass12023-02-012024-01-31SC208669ns10:CompanySecretary12023-02-012024-01-31SC208669ns10:RegisteredOffice2023-02-012024-01-31SC208669ns5:CurrentFinancialInstruments2024-01-31SC208669ns5:CurrentFinancialInstruments2023-01-31SC208669ns5:Non-currentFinancialInstruments2024-01-31SC208669ns5:Non-currentFinancialInstruments2023-01-31SC208669ns5:ShareCapital2024-01-31SC208669ns5:ShareCapital2023-01-31SC208669ns5:RevaluationReserve2024-01-31SC208669ns5:RevaluationReserve2023-01-31SC208669ns5:RetainedEarningsAccumulatedLosses2024-01-31SC208669ns5:RetainedEarningsAccumulatedLosses2023-01-31SC208669ns5:ShareCapital2022-01-31SC208669ns5:RetainedEarningsAccumulatedLosses2022-01-31SC208669ns5:RevaluationReserve2022-01-31SC208669ns5:RetainedEarningsAccumulatedLosses2022-02-012023-01-31SC208669ns5:RevaluationReserve2022-02-012023-01-31SC208669ns5:RetainedEarningsAccumulatedLosses2023-02-012024-01-31SC208669ns5:RevaluationReserve2023-02-012024-01-31SC208669ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-02-012024-01-31SC208669ns5:PlantMachinery2023-02-012024-01-31SC208669ns5:MotorVehicles2023-02-012024-01-31SC208669ns5:ComputerEquipment2023-02-012024-01-31SC208669ns5:ReportableOperatingSegment12023-02-012024-01-31SC208669ns5:ReportableOperatingSegment12022-02-012023-01-31SC208669ns5:ReportableOperatingSegment22023-02-012024-01-31SC208669ns5:ReportableOperatingSegment22022-02-012023-01-31SC208669ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2023-02-012024-01-31SC208669ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2022-02-012023-01-31SC208669ns15:UnitedKingdom2023-02-012024-01-31SC208669ns15:UnitedKingdom2022-02-012023-01-31SC208669ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2023-02-012024-01-31SC208669ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2022-02-012023-01-31SC208669ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-02-012024-01-31SC208669ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-02-012023-01-31SC208669ns5:OwnedAssets2023-02-012024-01-31SC208669ns5:OwnedAssets2022-02-012023-01-31SC208669ns5:LeasedAssets2023-02-012024-01-31SC208669ns5:LeasedAssets2022-02-012023-01-31SC208669ns5:HirePurchaseContracts2023-02-012024-01-31SC208669ns5:HirePurchaseContracts2022-02-012023-01-31SC208669ns10:OrdinaryShareClass12022-02-012023-01-31SC208669ns5:LandBuildings2023-01-31SC208669ns5:PlantMachinery2023-01-31SC208669ns5:MotorVehicles2023-01-31SC208669ns5:ComputerEquipment2023-01-31SC208669ns5:LandBuildings2023-02-012024-01-31SC208669ns5:LandBuildings2024-01-31SC208669ns5:PlantMachinery2024-01-31SC208669ns5:MotorVehicles2024-01-31SC208669ns5:ComputerEquipment2024-01-31SC208669ns5:LandBuildings2023-01-31SC208669ns5:PlantMachinery2023-01-31SC208669ns5:MotorVehicles2023-01-31SC208669ns5:ComputerEquipment2023-01-31SC208669ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-02-012024-01-31SC208669ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-012024-01-31SC208669ns5:LeasedAssetsHeldAsLessee2023-02-012024-01-31SC208669ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-01-31SC208669ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-01-31SC208669ns5:LeasedAssetsHeldAsLessee2024-01-31SC208669ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-31SC208669ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31SC208669ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-31SC208669ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31SC208669ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-01-31SC208669ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-01-31SC208669ns5:HirePurchaseContracts2024-01-31SC208669ns5:HirePurchaseContracts2023-01-31SC208669ns5:DeferredTaxation2023-01-31SC208669ns5:DeferredTaxation2023-02-012024-01-31SC208669ns5:DeferredTaxation2024-01-31SC208669ns10:OrdinaryShareClass12024-01-31SC208669ns5:RetainedEarningsAccumulatedLosses2023-01-31SC208669ns5:RevaluationReserve2023-01-31SC2086691ns10:Director12023-01-31SC2086691ns10:Director12022-01-31SC2086691ns10:Director12023-02-012024-01-31SC2086691ns10:Director12022-02-012023-01-31SC2086691ns10:Director12024-01-31SC2086691ns10:Director12023-01-31
REGISTERED NUMBER: SC208669 (Scotland)







Strategic Report,

Report of the Director and

Financial Statements

For The Year Ended 31st January 2024

for

Hodge Plant Limited

Hodge Plant Limited (Registered number: SC208669)






Contents of the Financial Statements
For The Year Ended 31st January 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Statement of Cash Flows 11

Notes to the Statement of Cash Flows 12

Notes to the Financial Statements 13


Hodge Plant Limited

Company Information
For The Year Ended 31st January 2024







DIRECTOR: A Hodge





SECRETARY: A Hodge





REGISTERED OFFICE: Unit 21 Whistleberry Industrial Estate
Hamilton
Lanarkshire
ML3 0ED





REGISTERED NUMBER: SC208669 (Scotland)





AUDITORS: Consilium Audit Limited
169 West George Street
Glasgow
G2 2LB

Hodge Plant Limited (Registered number: SC208669)

Strategic Report
For The Year Ended 31st January 2024

The after tax profit for the year amounted to £200,735 (2023: £521,635).

There is no corporation tax payable in the year to 31 January 2024 (2023: £nil)

The deferred tax provision carried in these financial statements is £1,421,737 (2023: £1,234,034).

REVIEW OF BUSINESS
The director is pleased to report another profitable year. A summary of the key performance indicators are listed below:


2024 2023 2022
£ £ £
Turnover 11,412,885 11,044,421 15,477,711
Gross profit 2,080,213 1,904,746 2,539,206
Shareholders funds 11,538,914 11,422,179 10,976,544

PRINCIPAL RISKS AND UNCERTAINTIES
The company has a framework in place to identify and manage business risks. The key financial risks include :

Credit risk
The company provides goods on credit to its customers. The risk arises from the possibility that customer will fail to meet their obligations to pay the sums due. To manage this risk all customers have their credit worthiness assessed and credit terms assigned to them. Systems are also in place to monitor adherence to these terms as appropriate.

Liquidity risk
The company is funded by retained profits. The company's policy is to ensure that any projected borrowing requirement is covered by committed facilities with its bankers.

Price risk
The company is exposed to the risk of suppliers' price increases, particularly in relation to equipment for resale, affecting margin achieved on the sale of capital plant items. It is the company's policy to monitor price changes and consider its options in terms of fixing costs to ensure this risk is minimised.

The company does not trade speculatively in derivatives or similar instruments.

FIXED ASSETS
The changes to fixed assets during the year ended 31 January 2024 are disclosed at note 8 in the financial statements.

FUTURE DEVELOPMENTS
The turnover and profits are in line with management accounts and the Director's expectations.

ON BEHALF OF THE BOARD:





A Hodge - Director


17th October 2024

Hodge Plant Limited (Registered number: SC208669)

Report of the Director
For The Year Ended 31st January 2024

The director presents his report with the financial statements of the company for the year ended 31st January 2024.

DIVIDENDS
No interim dividend was paid during the year. The director recommends a final dividend of £84 per share.

The total distribution of dividends for the year ended 31st January 2024 will be £ 84,000 .

DIRECTOR
A Hodge held office during the whole of the period from 1st February 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Consilium Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A Hodge - Director


17th October 2024

Report of the Independent Auditors to the Members of
Hodge Plant Limited

Opinion
We have audited the financial statements of Hodge Plant Limited (the 'company') for the year ended 31st January 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st January 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Hodge Plant Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the director was not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- We ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.
- We identified the laws and regulations applicable to the company through discussions with directors and management and from our knowledge of the regulatory environment relevant to the company.
- We assessed the extent of compliance with laws and regulations through making enquiries of management and inspecting legal correspondence.
- We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud.
- To address the risk of fraud through management bias and override of controls, we tested journal entries to identify unusual transactions, we assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias and we investigated the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Hodge Plant Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Holt (Senior Statutory Auditor)
for and on behalf of Consilium Audit Limited
169 West George Street
Glasgow
G2 2LB

17th October 2024

Hodge Plant Limited (Registered number: SC208669)

Income Statement
For The Year Ended 31st January 2024

2024 2023
Notes £ £

TURNOVER 3 11,412,885 11,044,421

Cost of sales (9,332,672 ) (9,139,675 )
GROSS PROFIT 2,080,213 1,904,746

Administrative expenses (1,624,061 ) (1,221,243 )
456,152 683,503

Other operating income 21,114 56,348
OPERATING PROFIT 5 477,266 739,851


Interest payable and similar expenses 7 (106,778 ) (95,053 )
PROFIT BEFORE TAXATION 370,488 644,798

Tax on profit 8 (169,753 ) (123,163 )
PROFIT FOR THE FINANCIAL YEAR 200,735 521,635

Hodge Plant Limited (Registered number: SC208669)

Other Comprehensive Income
For The Year Ended 31st January 2024

2024 2023
Notes £ £

PROFIT FOR THE YEAR 200,735 521,635


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

200,735

521,635

Hodge Plant Limited (Registered number: SC208669)

Statement of Financial Position
31st January 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 10 8,961,815 8,254,707

CURRENT ASSETS
Stocks 11 3,404,375 3,651,984
Debtors 12 5,424,202 5,739,638
Cash at bank and in hand 566,109 1,453,554
9,394,686 10,845,176
CREDITORS
Amounts falling due within one year 13 (3,930,396 ) (4,929,622 )
NET CURRENT ASSETS 5,464,290 5,915,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,426,105

14,170,261

CREDITORS
Amounts falling due after more than one
year

14

(1,465,454

)

(1,514,048

)

PROVISIONS FOR LIABILITIES 16 (1,421,737 ) (1,234,034 )
NET ASSETS 11,538,914 11,422,179

CAPITAL AND RESERVES
Called up share capital 17 1,000 1,000
Revaluation reserve 18 377,394 377,394
Retained earnings 18 11,160,520 11,043,785
SHAREHOLDERS' FUNDS 11,538,914 11,422,179

The financial statements were approved by the director and authorised for issue on 17th October 2024 and were signed by:





A Hodge - Director


Hodge Plant Limited (Registered number: SC208669)

Statement of Changes in Equity
For The Year Ended 31st January 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£ £ £ £
Balance at 1st February 2022 1,000 10,598,150 377,394 10,976,544

Changes in equity
Dividends - (76,000 ) - (76,000 )
Total comprehensive income - 521,635 - 521,635
Balance at 31st January 2023 1,000 11,043,785 377,394 11,422,179

Changes in equity
Dividends - (84,000 ) - (84,000 )
Total comprehensive income - 200,735 - 200,735
Balance at 31st January 2024 1,000 11,160,520 377,394 11,538,914

Hodge Plant Limited (Registered number: SC208669)

Statement of Cash Flows
For The Year Ended 31st January 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 654,756 2,074,285
Interest paid 6,999 2,810
Interest element of hire purchase payments
paid

(113,777

)

(97,863

)
Tax paid 17,950 -
Net cash from operating activities 565,928 1,979,232

Cash flows from investing activities
Purchase of tangible fixed assets (697,413 ) (1,751,239 )
Sale of tangible fixed assets 586,811 897,246
Net cash from investing activities (110,602 ) (853,993 )

Cash flows from financing activities
Capital repayments in year (1,278,604 ) (482,717 )
Amount introduced by directors 19,833 -
Equity dividends paid (84,000 ) (76,000 )
Net cash from financing activities (1,342,771 ) (558,717 )

(Decrease)/increase in cash and cash equivalents (887,445 ) 566,522
Cash and cash equivalents at beginning of
year

2

1,453,554

887,032

Cash and cash equivalents at end of year 2 566,109 1,453,554

Hodge Plant Limited (Registered number: SC208669)

Notes to the Statement of Cash Flows
For The Year Ended 31st January 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£ £
Profit before taxation 370,488 644,798
Depreciation charges 601,691 607,416
Loss/(profit) on disposal of fixed assets 38,080 (143,671 )
Finance costs 106,778 95,053
1,117,037 1,203,596
Decrease/(increase) in stocks 247,609 (1,347,491 )
Decrease/(increase) in trade and other debtors 295,605 (260,443 )
(Decrease)/increase in trade and other creditors (1,005,495 ) 2,478,623
Cash generated from operations 654,756 2,074,285

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31st January 2024
31/1/24 1/2/23
£ £
Cash and cash equivalents 566,109 1,453,554
Year ended 31st January 2023
31/1/23 1/2/22
£ £
Cash and cash equivalents 1,453,554 887,032


3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1/2/23 Cash flow changes At 31/1/24
£ £ £ £
Net cash
Cash at bank
and in hand 1,453,554 (887,445 ) 566,109
1,453,554 (887,445 ) 566,109
Debt
Finance leases (2,456,248 ) 1,278,604 (1,236,278 ) (2,413,922 )
(2,456,248 ) 1,278,604 (1,236,278 ) (2,413,922 )
Total (1,002,694 ) 391,159 (1,236,278 ) (1,847,813 )

Hodge Plant Limited (Registered number: SC208669)

Notes to the Financial Statements
For The Year Ended 31st January 2024

1. STATUTORY INFORMATION

Hodge Plant Limited is a private company, limited by shares , registered in Scotland. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the cost incurred and to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised on ly to the extent that it is probable the expenses recognised will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 8% on reducing balance and 6% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

During the year the depreciation policy for plant & machinery changed from 8% to 6% reducing balance - the director feels that this revised depreciation rate better reflects the useful lives of the assets

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.

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.

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.

For quarry stocks, cost is determined based on the cost of production of the quarry product, including the labour cost directly attributable to the production.

Hodge Plant Limited (Registered number: SC208669)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hodge Plant Limited (Registered number: SC208669)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

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.

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. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£ £
Sale of goods 9,287,644 8,226,147
Rendering of services 2,125,241 2,818,274
11,412,885 11,044,421

An analysis of turnover by geographical market is given below:

2024 2023
£ £
United Kingdom 9,507,809 9,889,421
Overseas 1,905,076 1,155,000
11,412,885 11,044,421

4. EMPLOYEES AND DIRECTORS
2024 2023
£ £
Wages and salaries 1,454,862 1,313,016
Social security costs 138,449 132,491
Other pension costs 18,898 19,798
1,612,209 1,465,305

Hodge Plant Limited (Registered number: SC208669)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Administrative 4 5
Management 6 5
Operating 29 26
39 36

2024 2023
£ £
Director's remuneration 9,892 9,542

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£ £
Hire of plant and machinery 238,393 268,283
Haulage 384,545 707,022
Depreciation - owned assets 508,082 607,417
Depreciation - assets on hire purchase contracts 93,610 -
Loss/(profit) on disposal of fixed assets 38,080 (143,671 )

6. AUDITORS' REMUNERATION
2024 2023
£ £
Fees payable to the company's auditors for the audit of the company's
financial statements

15,000

15,180

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£ £
Interest payable (6,999 ) (2,810 )
Hire purchase 113,777 97,863
106,778 95,053

Hodge Plant Limited (Registered number: SC208669)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax (17,950 ) -

Deferred tax 187,703 123,163
Tax on profit 169,753 123,163

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£ £
Profit before tax 370,488 644,798
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

92,622

122,512

Effects of:
Expenses not deductible for tax purposes 11,908 3,172
Capital allowances in excess of depreciation (97,531 ) (65,105 )
Utilisation of tax losses (6,999 ) (60,579 )
Deferred tax 187,703 123,163
Previous year incorrect provision (17,950 ) -
Total tax charge 169,753 123,163

9. DIVIDENDS
2024 2023
£ £
Ordinary shares of £1 each
Final 84,000 76,000

Hodge Plant Limited (Registered number: SC208669)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

10. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£ £ £ £ £
COST OR VALUATION
At 1st February 2023 1,544,503 7,825,770 545,673 53,454 9,969,400
Additions - 1,763,740 169,440 511 1,933,691
Disposals - (867,989 ) (47,572 ) - (915,561 )
At 31st January 2024 1,544,503 8,721,521 667,541 53,965 10,987,530
DEPRECIATION
At 1st February 2023 83,055 1,393,186 207,197 31,255 1,714,693
Charge for year 20,055 455,245 122,985 3,407 601,692
Eliminated on disposal - (259,074 ) (31,596 ) - (290,670 )
At 31st January 2024 103,110 1,589,357 298,586 34,662 2,025,715
NET BOOK VALUE
At 31st January 2024 1,441,393 7,132,164 368,955 19,303 8,961,815
At 31st January 2023 1,461,448 6,432,584 338,476 22,199 8,254,707

Cost or valuation at 31st January 2024 is represented by:

Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£ £ £ £ £
Valuation in 2019 1,544,503 - - - 1,544,503
Cost - 8,721,521 667,541 53,965 9,443,027
1,544,503 8,721,521 667,541 53,965 10,987,530

Freehold land and buildings were valued on fair value basis on 14th March 2019 by Graham & Sibbald .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
COST OR VALUATION
Additions 1,266,896 39,990 1,306,886
At 31st January 2024 1,266,896 39,990 1,306,886
DEPRECIATION
Charge for year 83,612 9,998 93,610
At 31st January 2024 83,612 9,998 93,610
NET BOOK VALUE
At 31st January 2024 1,183,284 29,992 1,213,276

Hodge Plant Limited (Registered number: SC208669)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

11. STOCKS
2024 2023
£ £
Stocks 3,402,193 3,651,984
Work-in-progress 2,182 -
3,404,375 3,651,984

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,151,408 1,579,680
Amounts owed by group undertakings 4,207,884 3,794,900
Other debtors - 285,413
Directors' current accounts 47,691 67,524
Prepayments and accrued income 17,219 12,121
5,424,202 5,739,638

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 15) 948,468 942,200
Trade creditors 2,684,930 3,485,761
Social security and other taxes 54,977 31,137
Pension creditor 4,107 -
VAT 114,305 -
Aggregate Tax 59,212 -
Credit card 9,029 -
Acer recharges 1,352 -
Accrued expenses 54,016 470,524
3,930,396 4,929,622

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Hire purchase contracts (see note 15) 1,465,454 1,514,048

15. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£ £
Net obligations repayable:
Within one year 948,468 942,200
Between one and five years 1,465,454 1,514,048
2,413,922 2,456,248

Assets held under HP contracts are secured only on the asset concerned.

Hodge Plant Limited (Registered number: SC208669)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

16. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 1,421,737 1,234,034

Deferred tax
£
Balance at 1st February 2023 1,234,034
Provided during year 187,703
Balance at 31st January 2024 1,421,737

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000 Ordinary £1 1,000 1,000

18. RESERVES
Retained Revaluation
earnings reserve Totals
£ £ £

At 1st February 2023 11,043,785 377,394 11,421,179
Profit for the year 200,735 200,735
Dividends (84,000 ) (84,000 )
At 31st January 2024 11,160,520 377,394 11,537,914

19. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2024 and 31st January 2023:

2024 2023
£ £
A Hodge
Balance outstanding at start of year 67,524 50,769
Amounts advanced - 93,609
Amounts repaid (19,833 ) (76,854 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 47,691 67,524

20. RELATED PARTY DISCLOSURES

During the year, total dividends of £84,000 were paid to the director .

Hodge Plant Limited (Registered number: SC208669)

Notes to the Financial Statements - continued
For The Year Ended 31st January 2024

20. RELATED PARTY DISCLOSURES - continued

During the year the company traded with Acer Rentals Limited, a company controlled by the director and his wife, in the normal course of business. The company supplied goods and services to Acer Rentals Limited in the year amounting to £11,632 (2023 £70,627), and a balance of £242,545 (2023 £106,946) was due to Acer Rentals Limited at the balance sheet date.

The company also received goods and service from Acer Rentals Limited. Items expensed to the profit and loss account in the year amounted to £227,805 (2023 £224,857) which included royalties in respect of a quarry owned by Acer Rentals Limited but operated by Hodge Plant Limited.

During the year the company also traded with Hodge Plant Holdings Limited, a company controlled by the director in the normal course of business. The company supplied goods and services to Hodge Plant Holdings Limited in the year amounting to £93,777 (2023 £130,129) and a balance of £117,704 (2023 £61,071) was due from Hodge Plant Holdings Limited at the balance sheet date.The company also purchased goods and services from Hodge Plant Holdings Limited of £9,840 (2023 £nil). The amount owed to Hodge Plant Holdings Limited at the balance sheet date was £28,200 (2023 £18,360).

Hodge Plant Limited has provided loan finance to Hodge Plant Holdings Limited. A further £299,234 (2023 £280,524) was advanced in the year resulting in a loan balance outstanding of £3,976,431 (2023 £3,794,900) at the balance sheet date. There are no formal repayment terms and no interest has been charged.

21. ULTIMATE CONTROLLING PARTY

The controlling party is A Hodge.

A Hodge is sole director and 100% shareholder.