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Registered number: 00869017










CLAUDE FENTON (PLANT HIRE) LIMITED










DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

COMPANY INFORMATION


Directors
K M Archbold-Laming 
M R P Fenton 
P R Fenton 
D A Gray (resigned 30 April 2024)
A J Harper 
D McAteer 
C Rayns (appointed 1 January 2025)




Company secretary
M R P Fenton



Registered number
00869017



Registered office
Unit 1 Kennet Weir Business Park
Arrowhead Road

Theale

Reading

Berkshire

RG7 4AE




Independent auditors
James Cowper Kreston Audit
Chartered Accountants and Statutory Auditor

8th Floor

Reading Bridge House

George Street

Reading

Berkshire

RG1 8LS





 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

CONTENTS



Page
Directors' Report
 
1 - 2
Independent Auditors' Report
 
3 - 5
Statement of Comprehensive Income
 
6
Balance Sheet
 
7
Notes to the Financial Statements
 
8 - 16


 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors

The directors who served during the year were:

K M Archbold-Laming 
P R Fenton 
A J Harper 
D McAteer 
M R P Fenton 
D A Gray (resigned 30 April 2024)

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsJames Cowper Kreston Auditwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





M R P Fenton
Secretary

Date: 24 March 2025

Page 2

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLAUDE FENTON (PLANT HIRE) LIMITED
 

Opinion


We have audited the financial statements of Claude Fenton (Plant Hire) Limited (the 'Company') for the year ended 30 September 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 September 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 3

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLAUDE FENTON (PLANT HIRE) LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
 
Page 4

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CLAUDE FENTON (PLANT HIRE) LIMITED (CONTINUED)


The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:
 
Enquiry of management and those charged with governance around actual and potential litigation and claims;
Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.



Alexander Peal BSc (Hons) FCA DChA (Senior Statutory Auditor)
  
for and on behalf of
James Cowper Kreston Audit
 
Chartered Accountants and Statutory Auditor
  
8th Floor
Reading Bridge House
George Street
Reading
Berkshire
RG1 8LS

 
Date: 
24 March 2025
Page 5

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Turnover
  
6,959,872
6,933,639

Cost of sales
  
(4,616,224)
(4,541,034)

Gross profit
  
2,343,648
2,392,605

Administrative expenses
  
(1,362,393)
(1,186,349)

Operating profit
 3 
981,255
1,206,256

Interest receivable and similar income
  
81,684
47,596

Interest payable and similar expenses
 6 
(87,677)
(78,585)

Profit before tax
  
975,262
1,175,267

Tax on profit
  
(207,671)
(270,494)

Profit for the financial year
  
767,591
904,773

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 8 to 16 form part of these financial statements.

Page 6

 
CLAUDE FENTON (PLANT HIRE) LIMITED
REGISTERED NUMBER: 00869017

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 8 
4,543,122
4,823,382

Current assets
  

Debtors: amounts falling due within one year
 9 
1,809,118
1,676,719

Cash at bank and in hand
 10 
2,546,211
2,595,106

  
4,355,329
4,271,825

Creditors: amounts falling due within one year
 11 
(1,968,269)
(2,020,743)

Net current assets
  
 
 
2,387,060
 
 
2,251,082

Total assets less current liabilities
  
6,930,182
7,074,464

Creditors: amounts falling due after more than one year
 12 
(455,872)
(918,847)

Provisions for liabilities
  

Deferred tax
 14 
(988,466)
(987,357)

Net assets
  
5,485,844
5,168,260


Capital and reserves
  

Called up share capital 
 15 
1,150,000
1,150,000

Profit and loss account
  
4,335,844
4,018,260

  
5,485,844
5,168,260


The Company's financial statements have been prepared in accordance with the 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: 




D McAteer
Director

Date: 24 March 2025

The notes on pages 8 to 16 form part of these financial statements.

Page 7

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

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

1.


General information

Claude Fenton (Plant Hire) Limited is a private company, limited by shares, incorporated in England and Wales (registration number 0869017). The address of its registered office is Unit 1 Kennet Weir Business Park, Theale, Reading, Berkshire, RG7 4AE.
The principal activity of the Company continues to be the operation of a plant hire business specialising in construction plant, hoists and powered access including the provision of training services.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Claude Fenton (Holdings) Limited as at 30 September 2024 and these financial statements may be obtained from Claude Fenton (Holdings) Limited.

  
2.3

Turnover

Turnover represents the total amount receivable in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Turnover from rental fleet hire is recognised on a straight line basis over the term of the hire agreement. All other turnover is recognised following delivery of the goods or services to the customer.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 8

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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.

  

Defined benefit pension plan

The parent company provides the group a defined benefit pension scheme, the assets of which are held separately from those of the company in an independently administered fund. For subsidiary companies in the group, contributions to this scheme are charged to the profit and loss account as they become payable in accordance with FRS102 Section 28 as though it was a defined contribution pension scheme. The assets and liabilities of this scheme are recognised in the parent company financial statements.

 
2.7

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.

Page 9

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

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

2.Accounting policies (continued)

 
2.8

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
-
8.33% - 33% on a straight line basis
Motor vehicles
-
10% - 33% on a straight line basis
Fixtures and fittings
-
15% - 33% on a straight line basis

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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 10

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

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

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the
Page 11

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

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

2.Accounting policies (continued)


2.13
Financial instruments (continued)

risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
890,199
846,871

Profit on disposal of fixed assets
(119,086)
(169,420)

Other operating lease rentals
154,598
135,952

Pension costs
84,359
76,274


4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Production
22
22



Office and management staff
10
10

32
32


5.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
241,939
268,103


Page 12

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

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

6.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
3,205
4,051

Finance leases and hire purchase contracts
84,472
74,534

87,677
78,585


7.


Dividends

2024
2023
£
£


Dividends paid
450,000
450,000


8.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 October 2023
10,698,090
730,246
14,848
11,443,184


Additions
447,354
174,176
-
621,530


Disposals
(518,815)
(93,492)
(6,426)
(618,733)



At 30 September 2024

10,626,629
810,930
8,422
11,445,981



Depreciation


At 1 October 2023
6,136,147
470,456
13,199
6,619,802


Charge for the year on owned assets
780,123
109,328
748
890,199


Disposals
(516,249)
(84,487)
(6,406)
(607,142)



At 30 September 2024

6,400,021
495,297
7,541
6,902,859



Net book value



At 30 September 2024
4,226,608
315,633
881
4,543,122



At 30 September 2023
4,561,943
259,790
1,649
4,823,382

Included within the net book value of £4,543,122 is £2,770,661 (2023 - £4,823,382 is £3,551,731) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £339,833 (2023 - £463,480).

Page 13

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

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

9.


Debtors

2024
2023
£
£


Trade debtors
1,461,612
1,642,051

Amounts owed by group undertakings
308,841
-

Other debtors
38,665
34,668

1,809,118
1,676,719



10.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,546,211
2,595,106



11.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
504,184
529,523

Amounts owed to group undertakings
127,485
148,562

Corporation tax
165,388
67,980

Other taxation and social security
94,338
91,245

Obligations under finance lease and hire purchase contracts
826,772
884,356

Other creditors
78,388
98,974

Accruals and deferred income
171,714
200,103

1,968,269
2,020,743



12.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
455,872
918,847


Page 14

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

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

13.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
826,772
884,356

Between 2-5 years
455,872
918,847

1,282,644
1,803,203

Obligations under hire purchase and finance lease agreements are secured upon the assets concerned. The finance companies have the right of possession upon default.


14.


Deferred taxation




2024


£






At beginning of year
(987,357)


Charged to profit or loss
(1,109)



At end of year
(988,466)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(988,466)
(1,001,918)

Other timing differences
-
14,561

(988,466)
(987,357)


15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,150,000 (2023 - 1,150,000) Ordinary shares of £1.00 each
1,150,000
1,150,000


Page 15

 
CLAUDE FENTON (PLANT HIRE) LIMITED
 

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

16.


Pension commitments

The entity is part of a group defined benefit pension scheme to which it makes annual contributions. In addition, the company makes contributions to a defined contribution pension scheme. Total contributions for the year total £84,359 (2023 - £76,274). The full disclosure has been included in the financial statements of Claude Fenton (Holdings) Limited.


17.Contingencies

As at 30 September 2024 there exist contingent liabilities and guarantees in respect of the following:
a) a composite unlimited guarantee and right of set off on all group bank overdrafts which amounted to £1,010,417 (2023 - £860,504).
b) a composite guarantee and right of set off on all group bank loans which amounted to 
£600,000 (2023 - £2,325,000).
c) a guarantee for value added tax due by all group undertakings under the group election amounting to £262,205
 (2023 - £278,230).
In respect of (a) and (b) above the company's bankers hold a mortgage debenture creating a specific charge over all company assets, a fixed charge over its book debts and floating charge over all other assets.


18.


Controlling party

The company is a wholly owned subsidiary of Claude Fenton (Holdings) Limited (registered number 00474108) which is regarded by the directors as the company's immediate controlling party and ultimate parent company. This company is incorporated in England and Wales and is the smallest and largest group into which the results of the company are consolidated.

Page 16