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REGISTERED NUMBER: 07393267 (England and Wales)















ECL PLANT HIRE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






ECL PLANT HIRE LIMITED (REGISTERED NUMBER: 07393267)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 8


ECL PLANT HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: S J Tysoe
S A Hoare





REGISTERED OFFICE: 4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF





REGISTERED NUMBER: 07393267 (England and Wales)





AUDITORS: Essex Abel Ltd (Statutory Auditors)
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF

ECL PLANT HIRE LIMITED (REGISTERED NUMBER: 07393267)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,894,333 5,545,640

CURRENT ASSETS
Debtors 6 540,000 2,054
Cash at bank - 1,765
540,000 3,819
CREDITORS
Amounts falling due within one year 7 3,053,130 4,883,879
NET CURRENT LIABILITIES (2,513,130 ) (4,880,060 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

381,203

665,580

CREDITORS
Amounts falling due after more than one
year

8

(225,564

)

(398,967

)

PROVISIONS FOR LIABILITIES (111,059 ) (138,801 )
NET ASSETS 44,580 127,812

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 44,578 127,810
SHAREHOLDERS' FUNDS 44,580 127,812

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 and authorised for issue by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:





S J Tysoe - Director


ECL PLANT HIRE LIMITED (REGISTERED NUMBER: 07393267)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

ECL Plant Hire Limited is a private limited company incorporated in England and Wales under the Companies Act. The address of the registered office is given in the company information section and its principal place of business is at Vanquish House, Wolseley Road, Woburn Road Industrial Estate, Kempston, Bedfordshire.

The financial statements are presented in Sterling (£) and rounded to the nearest thousand.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue represents the total amount receivable for the hire of assets to customers, net of value added tax.

Rental revenue, is recognised on a straight-line basis over the period of the hire.

Revenue arising from the sale of ex-hire fleet assets is recognised in the profit and loss when the significant risks and rewards of ownership have been transferred to the buyer. Transfer occurs when the asset is received at the customers location.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use.

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.


ECL PLANT HIRE LIMITED (REGISTERED NUMBER: 07393267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


3. ACCOUNTING POLICIES - continued
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
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.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities when applicable.

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 accounts receivable and payable and loans to/from related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, 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 a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and; thereafter, stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of debtors. The amount of the provision is determined as the difference between the asset's carrying amount and the present value of estimated future cash flows, and is recognised in the profit & loss in operating expenses.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and; thereafter, stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

ECL PLANT HIRE LIMITED (REGISTERED NUMBER: 07393267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


3. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 14,415,653
Additions 391,122
Disposals (5,156,588 )
At 31 July 2024 9,650,187
DEPRECIATION
At 1 August 2023 8,870,013
Charge for year 823,142
Eliminated on disposal (2,937,301 )
At 31 July 2024 6,755,854
NET BOOK VALUE
At 31 July 2024 2,894,333
At 31 July 2023 5,545,640

ECL PLANT HIRE LIMITED (REGISTERED NUMBER: 07393267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023 4,671,894
Additions 170,320
Transfer to ownership (3,849,431 )
At 31 July 2024 992,783
DEPRECIATION
At 1 August 2023 1,931,075
Charge for year 197,204
Transfer to ownership (1,873,962 )
At 31 July 2024 254,317
NET BOOK VALUE
At 31 July 2024 738,466
At 31 July 2023 2,740,819

All of the fixed assets are held for use in operating leases.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 540,000 -
Other debtors - 2,054
540,000 2,054

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3 -
Hire purchase contracts 286,432 551,664
Trade creditors 1,495 1,494
Amounts owed to group undertakings 2,755,824 4,323,747
Other creditors 9,376 6,974
3,053,130 4,883,879

ECL PLANT HIRE LIMITED (REGISTERED NUMBER: 07393267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 225,564 398,967

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 3 -
Hire purchase contracts 511,996 950,631
511,999 950,631

Hire purchase contracts are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Jason Mark Oram FCCA (Senior Statutory Auditor)
for and on behalf of Essex Abel Ltd (Statutory Auditors)

12. OTHER FINANCIAL COMMITMENTS

There are unlimited multilateral guarantees given by the company, fellow subsidiaries and the parent company for the period, in favour of National Westminster Bank Plc. The total amount secured as at 31 July 2024, excluding this company was £1,316,984 (31 July 2023 - £1,810,044).

There is a fixed and floating charge over all of the assets of the company in favour of National Westminster Bank.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

ECL PLANT HIRE LIMITED (REGISTERED NUMBER: 07393267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


14. ULTIMATE CONTROLLING PARTY

The largest and smallest group in which, the results of the company are consolidated is that headed by the parent company, Esendee Holdings Limited.

The parent company is incorporated in England & Wales and accounts are available on request from the parent company's registered office at 4 Bank Court, Weldon Road, Loughborough, Leicestershire, LE11 5RF. The parent company's principle place of business is Vanquish House, Wolseley Road, Woburn Road Industrial Estate, Kempston, Bedfordshire, MK42 7EF.

The consolidated financial statements of Esendee Holdings Limited are available to the public and may be obtained from the Registrar of Companies in England & Wales.