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REGISTERED NUMBER: 00848176 (England and Wales)


















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

CLEMENTS PLANT & TOOL HIRE LIMITED

CLEMENTS PLANT & TOOL HIRE LIMITED (REGISTERED NUMBER: 00848176)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLEMENTS PLANT & TOOL HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A N Hutchinson
S Willy
N R Heathcote





REGISTERED OFFICE: Ferry House
New Hythe Lane
Aylesford
ME20 7PW





REGISTERED NUMBER: 00848176 (England and Wales)





AUDITORS: TGFP
Chartered Accountants & Statutory Auditors
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

CLEMENTS PLANT & TOOL HIRE LIMITED (REGISTERED NUMBER: 00848176)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,000 2,000
Tangible assets 5 3,808,484 3,543,439
Investments 6 2 2
3,809,486 3,545,441

CURRENT ASSETS
Stocks 12,717 11,006
Debtors 7 691,827 660,014
Cash at bank and in hand 624,954 785,081
1,329,498 1,456,101
CREDITORS
Amounts falling due within one year 8 973,528 933,579
NET CURRENT ASSETS 355,970 522,522
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,165,456

4,067,963

CREDITORS
Amounts falling due after more than one
year

9

(651,578

)

(700,539

)

PROVISIONS FOR LIABILITIES (766,288 ) (880,025 )
NET ASSETS 2,747,590 2,487,399

CAPITAL AND RESERVES
Called up and paid share capital 150 150
Capital redemption reserve 5,387 5,387
Retained earnings 2,742,053 2,481,862
2,747,590 2,487,399

CLEMENTS PLANT & TOOL HIRE LIMITED (REGISTERED NUMBER: 00848176)

BALANCE SHEET - continued
30 APRIL 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





A N Hutchinson - Director


CLEMENTS PLANT & TOOL HIRE LIMITED (REGISTERED NUMBER: 00848176)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Clements Plant & Tool Hire 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.

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.

Revenue
Revenue is recognised to the extent that is is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five 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.

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 reducing balance and 15% on reducing balance

CLEMENTS PLANT & TOOL HIRE LIMITED (REGISTERED NUMBER: 00848176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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 Statement of Income and Retained Earnings, 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 21 ) .

CLEMENTS PLANT & TOOL HIRE LIMITED (REGISTERED NUMBER: 00848176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 5,000
AMORTISATION
At 1 May 2023 3,000
Charge for year 1,000
At 30 April 2024 4,000
NET BOOK VALUE
At 30 April 2024 1,000
At 30 April 2023 2,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 6,431,886
Additions 1,096,407
Disposals (445,251 )
At 30 April 2024 7,083,042
DEPRECIATION
At 1 May 2023 2,888,447
Charge for year 650,196
Eliminated on disposal (264,085 )
At 30 April 2024 3,274,558
NET BOOK VALUE
At 30 April 2024 3,808,484
At 30 April 2023 3,543,439

CLEMENTS PLANT & TOOL HIRE LIMITED (REGISTERED NUMBER: 00848176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 May 2023
and 30 April 2024 12,000
PROVISIONS
At 1 May 2023
and 30 April 2024 11,998
NET BOOK VALUE
At 30 April 2024 2
At 30 April 2023 2

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 562,262 476,628
Amounts owed by group undertakings - 61,450
Other debtors 129,565 121,936
691,827 660,014

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 394,095 409,838
Trade creditors 223,681 341,141
Taxation and social security 301,178 142,582
Other creditors 54,574 40,018
973,528 933,579

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 651,578 700,539

10. SECURED DEBTS

Post year end dated 17 December 2024, HSBC UK Bank Plc created a new fixed and floating charge. The floating charge covers all the property or undertaking of the company.

CLEMENTS PLANT & TOOL HIRE LIMITED (REGISTERED NUMBER: 00848176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


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

The Report of the Auditors was unqualified.

Benjamin R. Reynolds (Senior Statutory Auditor)
for and on behalf of TGFP

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Heathcote Holdings Limited, incorporated in England and Wales, which is the smallest and largest group in which these financial statements are consolidated; and can be obtained from Companies House.