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REGISTERED NUMBER: 07054638 (England and Wales)















RGW PLANT LIMITED

Financial Statements

for the Year Ended 31 March 2024






RGW PLANT LIMITED (REGISTERED NUMBER: 07054638)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


RGW PLANT LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C Randall
M Randall
K L Morgans





REGISTERED OFFICE: Unit 2
Cwm Draw Industrial Estate
Newtown
Ebbw Vale
NP23 5AE





REGISTERED NUMBER: 07054638 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Chartered Accountants
& Statutory Auditors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

RGW PLANT LIMITED (REGISTERED NUMBER: 07054638)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,953,134 2,057,172

CURRENT ASSETS
Stocks 12,928 13,934
Debtors 5 1,198,048 1,202,664
Cash at bank and in hand 889,441 774,953
2,100,417 1,991,551
CREDITORS
Amounts falling due within one year 6 2,158,753 2,259,435
NET CURRENT LIABILITIES (58,336 ) (267,884 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,894,798

1,789,288

CREDITORS
Amounts falling due after more than one year 7 (733,875 ) (691,696 )

PROVISIONS FOR LIABILITIES (292,474 ) (301,689 )
NET ASSETS 868,449 795,903

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 868,349 795,803
SHAREHOLDERS' FUNDS 868,449 795,903

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 September 2024 and were signed on its behalf by:





M Randall - Director


RGW PLANT LIMITED (REGISTERED NUMBER: 07054638)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

RGW Plant 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis. The directors have considered the assets and liabilities of the company and are of the opinion that the company will continue to meet its liabilities as they fall due, with the financial support of the directors. The directors are satisfied that the company is a going concern.

Preparation of consolidated financial statements
The financial statements of the company are consolidated in the financial statements of Randalls Holdings Limited. These consolidated financial statements are available from its registered office, Unit 2, Cwmdraw Industrial Estate. Newtown, Ebbw Vale, NP23 5AE.

Related party exemption
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.

Significant judgements and estimates
The application of the company's accounting policies, the management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the hire of plant and equipment is recognised based on the hire terms and the length of the hire, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transactions will flow to the entity when the costs incurred or to be incurred in respect of the transaction can be measured.

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 - Between one and five years on cost
Motor vehicles - 33% on cost and 25% on cost
Computer equipment - 33% on cost

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


RGW PLANT LIMITED (REGISTERED NUMBER: 07054638)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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 are depreciated over their estimate 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 20 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 3,563,108 1,840,910 3,927 5,407,945
Additions 646,915 137,996 - 784,911
Disposals (39,985 ) (182,378 ) - (222,363 )
At 31 March 2024 4,170,038 1,796,528 3,927 5,970,493
DEPRECIATION
At 1 April 2023 2,092,964 1,253,882 3,927 3,350,773
Charge for year 607,148 266,253 - 873,401
Eliminated on disposal (24,437 ) (182,378 ) - (206,815 )
At 31 March 2024 2,675,675 1,337,757 3,927 4,017,359
NET BOOK VALUE
At 31 March 2024 1,494,363 458,771 - 1,953,134
At 31 March 2023 1,470,144 587,028 - 2,057,172

RGW PLANT LIMITED (REGISTERED NUMBER: 07054638)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 2,066,947 950,260 3,017,207
Additions 576,952 107,996 684,948
Transfer to ownership (381,866 ) (403,140 ) (785,006 )
At 31 March 2024 2,262,033 655,116 2,917,149
DEPRECIATION
At 1 April 2023 746,148 396,564 1,142,712
Charge for year 473,496 176,499 649,995
Transfer to ownership (354,342 ) (315,189 ) (669,531 )
At 31 March 2024 865,302 257,874 1,123,176
NET BOOK VALUE
At 31 March 2024 1,396,731 397,242 1,793,973
At 31 March 2023 1,320,799 553,696 1,874,495

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 5,259 41,863
Amounts owed by group undertakings 1,149,384 1,113,677
Other debtors 43,405 47,124
1,198,048 1,202,664

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 638,748 743,848
Trade creditors 1,289,719 831,348
Amounts owed to group undertakings - 508,736
Taxation and social security 154,025 106,448
Other creditors 76,261 69,055
2,158,753 2,259,435

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 733,875 691,696

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 1,372,623 1,435,544

RGW PLANT LIMITED (REGISTERED NUMBER: 07054638)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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

The Report of the Auditors was unqualified.

Gareth Francis (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

10. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

A company unlimited multilateral guarantee has been given by Randalls (Holdings) Limited, Randalls (Groundworks) Limited, Randalls Civils Limited, Randalls Properties Limited, Randalls Resource Limited and RGW Plant Limited to guarantee liabilities to Barclays Bank plc.

Barclays Bank plc hold a debenture including a fixed and floating charges over all assets and undertaking both present and future.

11. ULTIMATE CONTROLLING PARTY

The controlling party is M Randall.

The company's ultimate parent undertaking at the balance sheet date is Randalls Holdings Limited, a company incorporated in England and Wales.