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REGISTERED NUMBER: 02304174 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

R. SAVAGE PLANT HIRE CO. LIMITED

R. SAVAGE PLANT HIRE CO. LIMITED (REGISTERED NUMBER: 02304174)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R. SAVAGE PLANT HIRE CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: P Savage
J Smith
B G Savage
A E Stride





REGISTERED OFFICE: 222 St Margarets Road
Ward End
Birmingham
West Midlands
B8 2BG





REGISTERED NUMBER: 02304174 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

R. SAVAGE PLANT HIRE CO. LIMITED (REGISTERED NUMBER: 02304174)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,654,718 1,575,814

CURRENT ASSETS
Stocks 23,000 23,000
Debtors 5 1,516,122 1,476,831
Cash at bank 145,514 122,925
1,684,636 1,622,756
CREDITORS
Amounts falling due within one year 6 509,950 446,569
NET CURRENT ASSETS 1,174,686 1,176,187
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,829,404

2,752,001

CREDITORS
Amounts falling due after more than
one year

7

(364,588

)

(391,249

)

PROVISIONS FOR LIABILITIES (402,797 ) (382,535 )
NET ASSETS 2,062,019 1,978,217

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,061,919 1,978,117
2,062,019 1,978,217

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

R. SAVAGE PLANT HIRE CO. LIMITED (REGISTERED NUMBER: 02304174)

BALANCE SHEET - continued
31 DECEMBER 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 10 June 2025 and were signed on its behalf by:





J Smith - Director


R. SAVAGE PLANT HIRE CO. LIMITED (REGISTERED NUMBER: 02304174)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

The company (registered number 02304174) is a private company, limited by shares, incorporated and domiciled in England and Wales. The registered office and trading address is 222 St Margarets Road, Ward End, Birmingham, B8 2BG.

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.

Revenue
Revenue is recognised to the extent that it 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.

Revenue is recognised at the point in which the service has been provided.

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.

Plant and machinery 20 - 50% straight line
Motor vehicles 20% straight line
Fixtures and fittings 50% 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.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

R. SAVAGE PLANT HIRE CO. LIMITED (REGISTERED NUMBER: 02304174)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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.

Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2024 2,512,595 30,172 333,744 2,876,511
Additions 516,943 330 166,450 683,723
Disposals (373,702 ) - (106,425 ) (480,127 )
At 31 December 2024 2,655,836 30,502 393,769 3,080,107
DEPRECIATION
At 1 January 2024 1,116,755 19,268 164,674 1,300,697
Charge for year 476,469 8,028 57,542 542,039
Eliminated on disposal (314,522 ) - (102,825 ) (417,347 )
At 31 December 2024 1,278,702 27,296 119,391 1,425,389
NET BOOK VALUE
At 31 December 2024 1,377,134 3,206 274,378 1,654,718
At 31 December 2023 1,395,840 10,904 169,070 1,575,814

The net book value of assets held under finance leases or hire purchase contracts, included above, are £1,382,571 (2023: £1,209,734).

R. SAVAGE PLANT HIRE CO. LIMITED (REGISTERED NUMBER: 02304174)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 207,914 208,643
Other debtors 16,066 34,214
Amounts owed by group
undertakings 1,292,142 1,233,974
1,516,122 1,476,831

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 34,000 34,000
Hire purchase contracts 357,227 311,935
Trade creditors 63,599 51,697
Taxation and social security 47,017 42,768
Other creditors 8,107 6,169
509,950 446,569

Amounts included in Bank loans and overdrafts relate to loans taken out under the Coronavirus Business Interruption Loan Scheme (CBILS). Under the terms of the loan the first 12 months of interest payments were interest free. Interest is now charged at 2.55% over the Bank of England Base Rate.

Hire purchase contracts and finance leases are secured against the assets to which the contracts relate.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 45,333 79,333
Hire purchase contracts 319,255 311,916
364,588 391,249

Amounts included in Bank loans and overdrafts relate to loans taken out under the Coronavirus Business Interruption Loan Scheme (CBILS). Under the terms of the loan the first 12 months of interest payments were interest free. Interest is now charged at 2.55% over the Bank of England Base Rate.

Hire purchase contracts and finance leases are secured against the assets to which the contracts relate.

R. SAVAGE PLANT HIRE CO. LIMITED (REGISTERED NUMBER: 02304174)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.