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REGISTERED NUMBER: 04111724 (England and Wales)

















Financial Statements for the Year Ended 31 May 2024

for

Moortown Plant Limited

Moortown Plant Limited (Registered number: 04111724)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Moortown Plant Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs G M McManus
Mr A T McManus
Mr G T Akroyd



REGISTERED OFFICE: Lusteen House
24 Roydsdale Way
Euroway Industrial Estate
Bradford
BD4 6SE



REGISTERED NUMBER: 04111724 (England and Wales)



AUDITORS: Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ



BANKERS: HSBC Bank Plc
33 Park Row
Leeds
West Yorkshire
LS1 1LD



SOLICITORS: Lupton Fawcett
Yorkshire House
East Parade
Leeds
LS1 5BD

Moortown Plant Limited (Registered number: 04111724)

Balance Sheet
31 May 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 8,066,867 7,769,719

CURRENT ASSETS
Debtors 5 148,289 698,414
Cash at bank 1,434,953 1,915,014
1,583,242 2,613,428
CREDITORS
Amounts falling due within one year 6 1,694,045 742,743
NET CURRENT (LIABILITIES)/ASSETS (110,803 ) 1,870,685
TOTAL ASSETS LESS CURRENT LIABILITIES 7,956,064 9,640,404

CREDITORS
Amounts falling due after more than one year 7 - (73,946 )

PROVISIONS FOR LIABILITIES (724,291 ) (1,174,604 )
NET ASSETS 7,231,773 8,391,854

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,231,673 8,391,754
7,231,773 8,391,854

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 14 January 2025 and were signed on its behalf by:





Mr A T McManus - Director


Moortown Plant Limited (Registered number: 04111724)

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

1. STATUTORY INFORMATION

Moortown 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.

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.

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 - 30% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Moortown Plant Limited (Registered number: 04111724)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to
the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


Moortown Plant Limited (Registered number: 04111724)

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

2. 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.

Foreign exchange
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of
inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest
elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the
remaining balance of the liability.

Going concern
The directors have considered the impact of the energy crisis, cost of living crisis and other current economic issues on the Company’s trade, workforce and supply chain, as well as the wider economy. Whilst it is not considered practical to accurately assess the duration and extent of the disruption, the directors are confident that they have in place plans to deal with any financial losses that may arise. In addition, the directors consider the strong cash reserves of the group further support the going concern assumption. The directors therefore continue to adopt the going concern basis of preparation for these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

Moortown Plant Limited (Registered number: 04111724)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 June 2023 15,948,680 1,689,476 17,638,156
Additions 2,198,700 124,081 2,322,781
Disposals (353,865 ) (72,609 ) (426,474 )
At 31 May 2024 17,793,515 1,740,948 19,534,463
DEPRECIATION
At 1 June 2023 8,916,144 952,293 9,868,437
Charge for year 1,731,329 249,835 1,981,164
Eliminated on disposal (313,291 ) (68,714 ) (382,005 )
At 31 May 2024 10,334,182 1,133,414 11,467,596
NET BOOK VALUE
At 31 May 2024 7,459,333 607,534 8,066,867
At 31 May 2023 7,032,536 737,183 7,769,719

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£
COST
At 1 June 2023 2,499,752
Transfer to ownership (2,047,265 )
At 31 May 2024 452,487
DEPRECIATION
At 1 June 2023 834,311
Charge for year 333,048
Transfer to ownership (1,000,853 )
At 31 May 2024 166,506
NET BOOK VALUE
At 31 May 2024 285,981
At 31 May 2023 1,665,441

Moortown Plant Limited (Registered number: 04111724)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 20,400 -
Amounts owed by group undertakings 57,028 535,843
Other debtors 70,861 162,571
148,289 698,414

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 8) 73,946 381,505
Trade creditors 497,476 171,756
Amounts owed to group undertakings 1,115,720 180,000
Other creditors 6,903 9,482
1,694,045 742,743

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 8) - 73,946

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 73,946 381,505
Between one and five years - 73,946
73,946 455,451

Non-cancellable
operating leases
2024 2023
£ £
Within one year 180,000 180,000

Moortown Plant Limited (Registered number: 04111724)

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

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

The Report of the Auditors was unqualified.

Jonathon Dickens FCA (Senior Statutory Auditor)
for and on behalf of Sutton McGrath Hartley

10. CAPITAL COMMITMENTS
2024 2023
£ £
Contracted but not provided for in the
financial statements 476,400 706,496

11. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The group has an unlimited multilateral guarantee with its fellow group companies. At the balance sheet date
total group borrowings amounted to £nil (2023: £nil).

The bank holds a fixed and floating charge over all the assets of the company in respect of all monies
borrowed.

12. RELATED PARTY DISCLOSURES

Mr A T McManus has significant influence over both Moortown Plant Limited and V&A Homes (Yorkshire) Ltd. At the year end the company was owed £1,909 (2023: £1,909) from V&A Homes (Yorkshire) Ltd.

Excel Surfacing Ltd is a member of the same group as Moortown Plant Limited, however it is not a wholly owned subsidiary. At the year end Excel Surfacing Ltd owed £23,220 (2023: £22,488) to Moortown Plant Limited. During the year Moortown Plant Limited had sales of £131,325 (2023: £132,059) and purchases of £131,325 (2023: £132,059) to Excel Surfacing Ltd.

Panther Construction Products Ltd is a member of the same group as Moortown Plant Limited, however it is not a wholly owned subsidiary. At the year end Panther Construction Products Ltd owed £14,413 (2023: £5,995) to Moortown Plant Limited. During the year Moortown Plant Limited had sales of £39,538 (2023: £37,365) and purchases of £nil (2023: £nil) to Panther Construction Products Ltd.

All of these balances are repayable on demand with no interest being charged.

13. PARENT COMPANY

The ultimate controlling company is McManus Group Holdings Limited and the ultimate controlling party is Mr
A T McManus by virtue of his majority shareholding of that company.

McManus Group Holdings prepare group accounts which can be obtained from Companies House, Crown
Way, Cardiff, CF14 3UZ.