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REGISTERED NUMBER: 05135580 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Holmes Plant & Construction Limited

Holmes Plant & Construction Limited (Registered number: 05135580)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Holmes Plant & Construction Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr J B Holmes
Mr A T Holmes
Mr B L Holmes
Mr B L G Holmes





SECRETARY: Mrs T J Holmes





REGISTERED OFFICE: Tithe Barn
Hall Lane
Otley
Ipswich
Suffolk
IP6 9PA





REGISTERED NUMBER: 05135580 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Holmes Plant & Construction Limited (Registered number: 05135580)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,856,532 4,385,629
4,856,532 4,385,629

CURRENT ASSETS
Debtors 6 1,609,522 1,452,381
Cash at bank and in hand 588,840 395,668
2,198,362 1,848,049
CREDITORS
Amounts falling due within one year 7 1,674,307 1,708,380
NET CURRENT ASSETS 524,055 139,669
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,380,587

4,525,298

CREDITORS
Amounts falling due after more than one
year

8

(1,195,556

)

(1,332,231

)

PROVISIONS FOR LIABILITIES 12 (1,113,342 ) (882,707 )
NET ASSETS 3,071,689 2,310,360

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 3,071,489 2,310,160
SHAREHOLDERS' FUNDS 3,071,689 2,310,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Holmes Plant & Construction Limited (Registered number: 05135580)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2025 and were signed on its behalf by:




Mr A T Holmes - Director



Mr B L Holmes - Director


Holmes Plant & Construction Limited (Registered number: 05135580)

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

1. STATUTORY INFORMATION

Holmes Plant & Construction 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.

Goodwill
The goodwill is being amortised over a period of five years, commencing this year.

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
Hire plant and machinery - various rates on reducing balance
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Vehicle cameras - 33% on cost
Computer equipment - 33% on cost

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.

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.

Holmes Plant & Construction Limited (Registered number: 05135580)

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

2. ACCOUNTING POLICIES - continued

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.

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 32 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 100,000
AMORTISATION
At 1 June 2023
and 31 May 2024 100,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Holmes Plant & Construction Limited (Registered number: 05135580)

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

5. TANGIBLE FIXED ASSETS
Motor
Plant vehicles
Plant and hire and Computer
machinery equipment cameras equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 195,109 7,190,957 444,343 15,022 7,845,431
Additions 183,022 1,349,313 230,635 3,700 1,766,670
Disposals (32,039 ) (758,764 ) (89,530 ) (2,951 ) (883,284 )
Reclassification/transfer 129,265 (154,015 ) 24,750 - -
At 31 May 2024 475,357 7,627,491 610,198 15,771 8,728,817
DEPRECIATION
At 1 June 2023 76,353 3,179,189 197,190 7,070 3,459,802
Charge for year 49,809 931,782 86,868 4,288 1,072,747
Eliminated on disposal (16,153 ) (562,193 ) (79,475 ) (2,443 ) (660,264 )
Reclassification/transfer 71,038 (100,909 ) 29,871 - -
At 31 May 2024 181,047 3,447,869 234,454 8,915 3,872,285
NET BOOK VALUE
At 31 May 2024 294,310 4,179,622 375,744 6,856 4,856,532
At 31 May 2023 118,756 4,011,768 247,153 7,952 4,385,629

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Plant vehicles
Plant and hire and
machinery equipment cameras Totals
£    £    £    £   
COST
At 1 June 2023 - 4,481,555 90,000 4,571,555
Additions 39,880 1,162,813 50,000 1,252,693
Transfer to ownership - (883,155 ) - (883,155 )
At 31 May 2024 39,880 4,761,213 140,000 4,941,093
DEPRECIATION
At 1 June 2023 - 1,408,203 1,875 1,410,078
Charge for year 1,992 668,328 26,200 696,520
Transfer to ownership - (430,788 ) - (430,788 )
At 31 May 2024 1,992 1,645,743 28,075 1,675,810
NET BOOK VALUE
At 31 May 2024 37,888 3,115,470 111,925 3,265,283
At 31 May 2023 - 3,073,352 88,125 3,161,477

Holmes Plant & Construction Limited (Registered number: 05135580)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,324,004 1,289,049
Unbilled sales contracts 42,000 -
Amounts owed by associates 154,214 143,703
Other debtors 1,790 14,400
Prepayments 87,514 5,229
1,609,522 1,452,381

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 62,500 62,500
Other loans (see note 9) 52,018 49,155
Hire purchase contracts (see note 10) 936,685 889,282
Trade creditors 250,280 458,667
Tax 40,185 -
Social security and other taxes 43,529 25,846
VAT 90,753 74,169
Other creditors 4,956 9,774
Directors' current accounts 126,879 100,966
Accrued expenses 66,522 38,021
1,674,307 1,708,380

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 5,208 67,708
Hire purchase contracts (see note 10) 1,190,348 1,264,523
1,195,556 1,332,231

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 62,500 62,500
Mrs T Holmes loan 52,018 49,155
114,518 111,655

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,208 62,500

Holmes Plant & Construction Limited (Registered number: 05135580)

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

9. LOANS - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 5,208

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Gross obligations repayable:
Within one year 1,060,481 992,659
Between one and five years 1,376,177 1,437,174
2,436,658 2,429,833

Finance charges repayable:
Within one year 123,796 103,377
Between one and five years 185,829 172,651
309,625 276,028

Net obligations repayable:
Within one year 936,685 889,282
Between one and five years 1,190,348 1,264,523
2,127,033 2,153,805

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 2,127,033 2,153,805

Assets purchased under hire purchase contracts are secured against the asset to which they relate.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,113,342 882,707

Holmes Plant & Construction Limited (Registered number: 05135580)

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

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2023 882,707
Movement in year 230,635
Balance at 31 May 2024 1,113,342