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REGISTERED NUMBER: 01333237 (England and Wales)















Ruttle Plant Holdings Limited

Financial Statements

for the Year Ended 30 September 2024






Ruttle Plant Holdings Limited (Registered number: 01333237)






Contents of the Financial Statements
for the year ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ruttle Plant Holdings Limited

Company Information
for the year ended 30 September 2024







DIRECTORS: GH Ruttle
GH Ruttle
MT Ruttle





REGISTERED OFFICE: Lancaster House
Ackhurst Road
Chorley
Lancashire
PR7 1NH





REGISTERED NUMBER: 01333237 (England and Wales)





AUDITORS: McMillan & Co LLP
Chartered Accountants and
Statutory Auditor
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Ruttle Plant Holdings Limited (Registered number: 01333237)

Balance Sheet
30 September 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 4 33,307,979 33,341,103
Investments 5 2,322 3,966
33,310,301 33,345,069

CURRENT ASSETS
Stocks 6 2,121,402 2,131,859
Debtors 7 8,849,056 9,919,608
Cash at bank and in hand 260,760 240
11,231,218 12,051,707
CREDITORS
Amounts falling due within one year 8 26,198,189 22,520,983
NET CURRENT LIABILITIES (14,966,971 ) (10,469,276 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,343,330

22,875,793

CREDITORS
Amounts falling due after more than one
year

9

(9,254,502

)

(11,272,522

)

PROVISIONS FOR LIABILITIES 13 (388,357 ) (404,852 )
NET ASSETS 8,700,471 11,198,419

CAPITAL AND RESERVES
Called up share capital 14 4,000 4,000
Retained earnings 8,696,471 11,194,419
SHAREHOLDERS' FUNDS 8,700,471 11,198,419

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 25 June 2025 and were signed on its behalf by:





GH Ruttle - Director


Ruttle Plant Holdings Limited (Registered number: 01333237)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

Ruttle Plant Holdings 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 (£).


The amounts in the financial statements have been rounded to the nearest £1.

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.

Going concern
The financial statements are prepared on a going concern basis which the directors believe to be appropriate for the following reasons.

The parent company has committed to provide financial support to this company for the foreseeable future, should this be required. The directors do not prepare formal forecasts, but instead rely on their market knowledge and experience to monitor future cashflow requirements. The Group is in the process of realising various development assets, which will supplement their operating cashflows and enable them to reduce their reliance on bank and hire purchase funding.

The forecasts also include additional funding as required to be provided by the shareholders in the event of delays in the completion of other projects.

Based on the above indications, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

The financial statements do not include any adjustments that would result from this basis of preparation being inappropriate.

Turnover
Turnover represents net invoiced sales of goods, properties, and hire of plant, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Short leasehold - 20% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance and 20% on reducing balance

Freehold land is not depreciated. No depreciation is provided on the company's freehold buildings as the directors consider that the lives of these assets are so long and residual values, based on prices prevailing at the time of acquisition, are sufficiently high that any depreciation would be immaterial. Provision is made in the profit and loss account in the event of any permanent diminution in the value of the properties.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any diminution in value.

Ruttle Plant Holdings Limited (Registered number: 01333237)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Other investments
Other investments are stated at cost less any provision for diminution in value.

3. EMPLOYEES AND DIRECTORS

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

Ruttle Plant Holdings Limited (Registered number: 01333237)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£ £ £
COST
At 1 October 2023 7,613,341 607,148 40,189,666
Additions - 22,500 4,170,000
Disposals - - (3,071,038 )
At 30 September 2024 7,613,341 629,648 41,288,628
DEPRECIATION
At 1 October 2023 - - 15,461,345
Charge for year - - 3,083,783
Eliminated on disposal - - (1,981,022 )
At 30 September 2024 - - 16,564,106
NET BOOK VALUE
At 30 September 2024 7,613,341 629,648 24,724,522
At 30 September 2023 7,613,341 607,148 24,728,321

Fixtures
and Motor
fittings vehicles Totals
£ £ £
COST
At 1 October 2023 195,635 636,118 49,241,908
Additions 2,508 58,740 4,253,748
Disposals - (21,900 ) (3,092,938 )
At 30 September 2024 198,143 672,958 50,402,718
DEPRECIATION
At 1 October 2023 151,980 287,480 15,900,805
Charge for year 9,283 100,317 3,193,383
Eliminated on disposal - (18,427 ) (1,999,449 )
At 30 September 2024 161,263 369,370 17,094,739
NET BOOK VALUE
At 30 September 2024 36,880 303,588 33,307,979
At 30 September 2023 43,655 348,638 33,341,103

Included in the net book value of fixed assets is an amount of £22,410,528 (2023: £20,744,041) financed by hire purchase agreements at the year end.

Ruttle Plant Holdings Limited (Registered number: 01333237)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£ £ £
COST
At 1 October 2023
and 30 September 2024 2,195 162,490 164,685
PROVISIONS
At 1 October 2023 - 160,719 160,719
Provision for year - 1,644 1,644
At 30 September 2024 - 162,363 162,363
NET BOOK VALUE
At 30 September 2024 2,195 127 2,322
At 30 September 2023 2,195 1,771 3,966

6. STOCKS
2024 2023
£ £
Property stock and work in
progress 1,619,672 1,614,810
Farm stock 475,316 493,771
Other stock 26,414 23,278
2,121,402 2,131,859

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 144,400 105,766
Amounts owed by group undertakings 3,282,834 6,433,499
Other debtors 671,822 687,610
Due from related undertakings 4,670,798 2,566,805
VAT 56,362 47,469
Prepayments and accrued income 22,840 78,459
8,849,056 9,919,608

Ruttle Plant Holdings Limited (Registered number: 01333237)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 10) 2,721,000 5,149,863
Hire purchase contracts (see note 11) 6,975,856 6,364,283
Trade creditors 200,378 237,481
Amounts owed to group undertakings 9,847,302 7,731,116
Other creditors 1,595,537 936,837
Due to related undertakings 742,401 1,399,577
Directors' current accounts 4,085,412 681,735
Accruals and deferred income 30,303 20,091
26,198,189 22,520,983

The director's current account is unsecured and interest free with no fixed repayment date.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Hire purchase contracts (see note 11) 9,254,502 11,272,522

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank overdrafts - 2,128,863
Bank loans 2,721,000 3,021,000
2,721,000 5,149,863

The interest on the bank loan is repaid quarterly and is charged at a floating rate of 2.89% above the base rate.

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 6,975,856 6,364,283
Between one and five years 9,254,502 11,272,522
16,230,358 17,636,805

Ruttle Plant Holdings Limited (Registered number: 01333237)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

11. LEASING AGREEMENTS - continued

Non-cancellable
operating leases
2024 2023
£ £
Within one year 61,726 189,126
Between one and five years 43,723 185,238
105,449 374,364

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdraft - 2,128,863
Bank loans 2,721,000 3,021,000
Hire purchase contracts 16,230,358 17,636,805
18,951,358 22,786,668

There is a cross guarantee and debenture between Contract Services (Millennium) Limited, Ruttle Group Limited, Ruttle Plant Hire Limited, Birmingham Civils & Construction Limited, Ruttle Contracting Limited, Ruttle Plant (Midlands) Limited, Ruttle Plant (North East) Limited and Ruttle Heavy Haulage Limited dated 18 May 2021.

There are also various fixed and floating charges over the companies assets.

Hire purchase creditors are secured on the relevant assets.

13. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax
Accelerated capital allowances 388,357 404,852

Deferred tax
£
Balance at 1 October 2023 404,852
Provided during year (16,495 )
Balance at 30 September 2024 388,357

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
4,000 Ordinary £1 4,000 4,000

The shares have attached to them full voting, dividend and capital distribution rights.

Ruttle Plant Holdings Limited (Registered number: 01333237)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

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

The Report of the Auditors was unqualified.

Andrea Gerring FCA (Senior Statutory Auditor)
for and on behalf of McMillan & Co LLP

16. CAPITAL COMMITMENTS
2024 2023
£ £
Contracted but not provided for in the
financial statements - 1,247,696

17. RELATED PARTY DISCLOSURES

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.

The following companies are related to Ruttle Plant Holdings Limited as they are also controlled by GH Ruttle.

During the year purchases of £303,724 (2023: £318,944) and payments of £366,569 (2023: £1,543,080 receipts) were made to Contract Services (Millenium) Limited. At the year end the balance owed to Ruttle Plant Holdings Limited was £4,608,980 (2023: £2,504,987).

During the year sales of £nil (2023: £1,071,825) were made to Digger Excavating Inc. Repayments of £2,644 (2023: £1,003,216) were made by them during the year. At the year end amounts owed to this company from Ruttle Plant Holdings Limited were £742,401 (2023: £739,746).

During the year sales made to Rentrite Inc amounted to £nil (2023: £180,750). Repayments of £nil (2023: £438,427) were made by Rentrite. The balance owed to Rentrite Inc was written off in the year due to the company ceasing to trade. At the year end amounts owed to this company from Ruttle Plant Holdings Limited were £nil (2023: £659,831).

At the year end Harrick Limited owed to Ruttle Plant Holdings Limited a balance of £61,818 (2023: £61,818).

At the year end Centremodel Limited owed to Ruttle Plant Holdings Limited a balance of £426,692 (2023: £426,692). The balance has been fully provided for in the year.

At the year end Blackthorn Estates Limited owed to Ruttle Plant Holdings Limited a balance of £295,752 (2023: £295,752). The balance has been fully provided for in the year.
.

18. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Ruttle Group Limited. The accounts of this company are consolidated into Ruttle Group Limited, copies of which are available from their registered office at Lancaster House, Ackhurst Road, Chorley, PR7 1NH.

The Group is ultimately controlled by GH Ruttle, the director of the ultimate parent company.