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Registered number: 08992390









DURMAN STEARN PLANT LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
DURMAN STEARN PLANT LIMITED
REGISTERED NUMBER: 08992390

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,560,039
1,828,966

  
1,560,039
1,828,966

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
91,772
134,789

Cash at bank and in hand
  
2,069,850
1,377,980

  
2,161,622
1,512,769

Creditors: amounts falling due within one year
 7 
(296,257)
(232,798)

NET CURRENT ASSETS
  
 
 
1,865,365
 
 
1,279,971

TOTAL ASSETS LESS CURRENT LIABILITIES
  
3,425,404
3,108,937

PROVISIONS FOR LIABILITIES
  

Deferred tax
 8 
(277,370)
(294,118)

NET ASSETS
  
3,148,034
2,814,819


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Profit and loss account
  
3,147,934
2,814,719

  
3,148,034
2,814,819


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



J A Durman
Director

Date: 10 February 2025

The notes on pages 3 to 9 form part of these financial statements.
Page 1

 
DURMAN STEARN PLANT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


AT 1 JULY 2022
100
2,616,041
2,616,141



Profit for the year
-
448,678
448,678

Dividends: Equity capital
-
(250,000)
(250,000)



AT 1 JULY 2023
100
2,814,719
2,814,819



Profit for the year
-
333,215
333,215


AT 30 JUNE 2024
100
3,147,934
3,148,034


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DURMAN STEARN PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

Durman Stearn Plant Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 264 High Street, Cottenham, Cambridge, CB24 8RZ.
The parent undertaking of the smallest group to consolidate these financial statements is Durman Stearn Holdings Limited, a private company limited by shares and incorporated in England and Wales. Its registered office is 264 High Street, Cottenham, Cambridge, CB24 8RZ.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. In making this assessment the directors have considered the Company’s financial resources at the time of approving the financial statements, as well as anticipated future activity and financial results.
The directors are confident that the Company has the ability to trade with sufficient cash headroom.
In light of the above and given the Company’s healthy profit and cash reserves, the directors believe they are well placed to manage the Company's business risks successfully in the current economic climate and remain satisfied that the going concern assessment is appropriate.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of plant hire services during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised as the fair value of the consideration received or receivable and is recognised over the period to which the plant hire relates.

 
2.4

OTHER OPERATING INCOME

Other operating income relates to insurance claims receivable.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
DURMAN STEARN PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
straight line
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

VALUATION OF INVESTMENTS

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

DEBTORS

Short term debtors are measured at transaction price, less any impairment.

 
2.9

CASH AT BANK AND IN HAND

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

CREDITORS

Short term creditors are measured at the transaction price.

Page 4

 
DURMAN STEARN PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.13

DIVIDENDS

Equity dividends are recognised when they become legally payable.


3.


EMPLOYEES

The Company has no direct employees as all wages and salaries costs are recharged from group companies.


Page 5

 
DURMAN STEARN PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



COST OR VALUATION


At 1 July 2023
4,423,197
1,362,977
3,250
5,789,424


Additions
386,200
31,814
-
418,014


Disposals
(102,635)
(40,000)
-
(142,635)



At 30 June 2024

4,706,762
1,354,791
3,250
6,064,803



DEPRECIATION


At 1 July 2023
2,728,993
1,228,215
3,250
3,960,458


Charge for the year on owned assets
620,864
66,077
-
686,941


Disposals
(102,635)
(40,000)
-
(142,635)



At 30 June 2024

3,247,222
1,254,292
3,250
4,504,764



NET BOOK VALUE



At 30 June 2024
1,459,540
100,499
-
1,560,039



At 30 June 2023
1,694,204
134,762
-
1,828,966

Page 6

 
DURMAN STEARN PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


FIXED ASSET INVESTMENTS





Unlisted investments

£



COST OR VALUATION


At 1 July 2023
14,829



At 30 June 2024

14,829



IMPAIRMENT


At 1 July 2023
14,829



At 30 June 2024

14,829



NET BOOK VALUE



At 30 June 2024
-



At 30 June 2023
-


6.


DEBTORS

2024
2023
£
£


Trade debtors
1,105
36,000

Amounts owed by group undertakings
39,111
35,878

Other debtors
29,086
42,536

Prepayments and accrued income
22,470
20,375

91,772
134,789


Amounts owed by group undertakings are unsecured and do not accrue interest.

Page 7

 
DURMAN STEARN PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
160,664
224,090

Corporation tax
127,821
-

Accruals and deferred income
7,772
8,708

296,257
232,798


Amounts owed to group undertakings are unsecured and do not accrue interest.

Page 8

 
DURMAN STEARN PLANT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
(294,118)
(144,429)


Credited/(Charged)
16,748
(149,689)



AT END OF YEAR
(277,370)
(294,118)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
277,370
305,771

Tax losses carried forward
-
(11,653)

277,370
294,118


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary shares of £1 each
100
100



10.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 10 February 2025 by Edward Napper (Senior Statutory Auditor) on behalf of Peters Elworthy & Moore.

 
Page 9