IRIS Accounts Production v25.1.4.42 04028611 Board of Directors Board of Directors 1.8.23 30.7.24 30.7.24 Medium entities provision of plant hire services. 45 37 true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh040286112023-07-31040286112024-07-30040286112023-08-012024-07-30040286112022-07-31040286112022-08-012023-07-31040286112023-07-3104028611ns15:EnglandWales2023-08-012024-07-3004028611ns14:PoundSterling2023-08-012024-07-3004028611ns10:Director12023-08-012024-07-3004028611ns10:Director22023-08-012024-07-3004028611ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3004028611ns10:MediumEntities2023-08-012024-07-3004028611ns10:Audited2023-08-012024-07-3004028611ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-08-012024-07-3004028611ns10:Medium-sizedCompaniesRegimeForAccounts2023-08-012024-07-3004028611ns10:FullAccounts2023-08-012024-07-300402861112023-08-012024-07-3004028611ns10:RegisteredOffice2023-08-012024-07-3004028611ns5:CurrentFinancialInstruments2024-07-3004028611ns5:CurrentFinancialInstruments2023-07-3104028611ns5:Non-currentFinancialInstruments2024-07-3004028611ns5:Non-currentFinancialInstruments2023-07-3104028611ns5:ShareCapital2024-07-3004028611ns5:ShareCapital2023-07-3104028611ns5:RetainedEarningsAccumulatedLosses2024-07-3004028611ns5:RetainedEarningsAccumulatedLosses2023-07-3104028611ns5:ShareCapital2022-07-3104028611ns5:RetainedEarningsAccumulatedLosses2022-07-3104028611ns5:RetainedEarningsAccumulatedLosses2022-08-012023-07-3104028611ns5:RetainedEarningsAccumulatedLosses2023-08-012024-07-3004028611ns5:PlantMachinery2023-08-012024-07-3004028611ns5:MotorVehicles2023-08-012024-07-3004028611ns5:ComputerEquipment2023-08-012024-07-3004028611ns5:OwnedAssets2023-08-012024-07-3004028611ns5:OwnedAssets2022-08-012023-07-3104028611ns5:LeasedAssets2023-08-012024-07-3004028611ns5:LeasedAssets2022-08-012023-07-310402861112023-08-012024-07-300402861112022-08-012023-07-310402861122023-08-012024-07-300402861122022-08-012023-07-3104028611ns5:HirePurchaseContracts2023-08-012024-07-3004028611ns5:HirePurchaseContracts2022-08-012023-07-3104028611ns5:FinanceLeases2023-08-012024-07-3004028611ns5:FinanceLeases2022-08-012023-07-3104028611ns5:NetGoodwill2023-07-3104028611ns5:NetGoodwill2024-07-3004028611ns5:NetGoodwill2023-07-3104028611ns5:PlantMachinery2023-07-3104028611ns5:FurnitureFittings2023-07-3104028611ns5:MotorVehicles2023-07-3104028611ns5:ComputerEquipment2023-07-3104028611ns5:FurnitureFittings2023-08-012024-07-3004028611ns5:PlantMachinery2024-07-3004028611ns5:FurnitureFittings2024-07-3004028611ns5:MotorVehicles2024-07-3004028611ns5:ComputerEquipment2024-07-3004028611ns5:PlantMachinery2023-07-3104028611ns5:FurnitureFittings2023-07-3104028611ns5:MotorVehicles2023-07-3104028611ns5:ComputerEquipment2023-07-3104028611ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3004028611ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3104028611ns5:CurrentFinancialInstruments2023-08-012024-07-3004028611ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-07-3004028611ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-07-3104028611ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-07-3004028611ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-07-3104028611ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3004028611ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3104028611ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-07-3004028611ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-07-3104028611ns5:FinanceLeasesns5:BetweenOneFiveYears2024-07-3004028611ns5:FinanceLeasesns5:BetweenOneFiveYears2023-07-3104028611ns5:HirePurchaseContracts2024-07-3004028611ns5:HirePurchaseContracts2023-07-3104028611ns5:FinanceLeases2024-07-3004028611ns5:FinanceLeases2023-07-3104028611ns5:WithinOneYear2024-07-3004028611ns5:WithinOneYear2023-07-3104028611ns5:BetweenOneFiveYears2024-07-3004028611ns5:BetweenOneFiveYears2023-07-3104028611ns5:AllPeriods2024-07-3004028611ns5:AllPeriods2023-07-3104028611ns5:Secured2024-07-3004028611ns5:Secured2023-07-3104028611ns5:DeferredTaxation2023-07-3104028611ns5:DeferredTaxation2024-07-3004028611ns5:RetainedEarningsAccumulatedLosses2023-07-31
REGISTERED NUMBER: 04028611 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

FOR

D & M PLANT HIRE LIMITED

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 16


D & M PLANT HIRE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024







DIRECTORS: M Meagher
S J Meagher





REGISTERED OFFICE: Windy Ridge
Crawley Road
Witney
Oxfordshire
OX29 9TG





REGISTERED NUMBER: 04028611 (England and Wales)





AUDITORS: Jamesons Limited
Chartered Accountants and Statutory Auditors
Jamesons House
Compton Way
Witney
OX28 3AB

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

STRATEGIC REPORT
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

The directors present their strategic report for the period 1 August 2023 to 30 July 2024.

REVIEW OF BUSINESS
D & M Plant Hire Limited is a private company limited by shares and incorporated in the United Kingdom.

Continuing the growth and investment in the year ending 2024 whilst working on major government projects to provide the security for this. Overall, a successful year considering the battles of weather and the financial stability in the UK hampering work opportunities.

There have been no changes in the company's activities in the year under review. The directors are not aware, at the date of this report, of any likely major changes in the company's activities in the next year.

It is felt that this is a satisfactory result as the Company continues to grow and become stronger in both profitability and asset value.

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and execution of the company's strategy are subject to a number of risks.

The key business risks and uncertainties affecting the company are considered to relate to the underlying market for large scale construction projects and competition.

KEY PERFORMANCE INDICATORS
The key financial and other performance indicators during the year were as follows:



2024 2023
£    £   
Turnover 18,081 18,416
Operating profit 1,815 2,398
EBITDA 5,175 5,065
Cash 151 970
Net Assets 13,626 12,965
Average number of employees 45 37

CREDIT RISK
The company allows normal trade terms to customers and all debts up to a pre-agreed limit are insured with Allianz.

FUTURE DEVELOPMENTS
The company anticipates that the present level of turnover and profits will be maintained for the foreseeable future, with further reinvestment of profits back into the company.

KEY PEOPLE
As with all businesses the company is dependent upon a number of key employees, particularly for the sales activity and the management functions. The company manages this risk by support and careful long-term succession planning.


D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

STRATEGIC REPORT
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

ENVIRONMENTAL ISSUES
The company will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The company has complied with all applicable legislation and regulations.

ON BEHALF OF THE BOARD:





M Meagher - Director


18 July 2025

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

The directors present their report with the financial statements of the company for the period 1 August 2023 to 30 July 2024.

DIVIDENDS
The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 July 2024 will be £513,430.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

M Meagher
S J Meagher

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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 and then apply them consistently;
-make judgements 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024


AUDITORS
The auditors, Jamesons Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M Meagher - Director


18 July 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
D & M PLANT HIRE LIMITED

Opinion
We have audited the financial statements of D & M Plant Hire Limited (the 'company') for the period ended 30 July 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The 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 July 2024 and of its profit for the period 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 UK, including the FRC'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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
D & M PLANT HIRE LIMITED


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 Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where 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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
D & M PLANT HIRE LIMITED


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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non - compliance with laws and regulations was as follows:
- The engagement partner ensured that the engagement team collectively had appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations:
- We identified the laws and regulations applicable to the company through discussion with directors and
informed management and from our commercial knowledge and experience of the industry;
- We focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company including Companies Act 2006, taxation legislation,
employment legislation and health and safety legislation;
- We assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and reviewing documentation during the audit; and
- Identified laws and regulations were communicated within the audit team and the team remained alert to
instances of non-compliance during the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
- Making enquires of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud; and
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.

To address the risk of fraud through management bias and override of controls, we:
- Reviewed the financial statements and records to identify any unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative
of potential bias; and
- Investigated the rationale behind any significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- Agreeing financial statement disclosures to underlying supporting documentation;
- Enquiring of management as to actual and potential litigation and claims; and
- Reviewing correspondence with HMRC and other applicable sources.

There are inherent limitations in our audit procedures described above. The 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. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquire of the directors and informed management and the inspection of regulatory and legal correspondence if any.

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


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
D & M PLANT HIRE LIMITED

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 Report of the Auditors.

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 2006. Our 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 a Report of the Auditors 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.




Anita Lyon FCA FCCA (Senior Statutory Auditor)
for and on behalf of Jamesons Limited
Chartered Accountants and Statutory Auditors
Jamesons House
Compton Way
Witney
OX28 3AB

18 July 2025

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

Period
1.8.23
to Year Ended
30.7.24 31.7.23
Notes £    £   

TURNOVER 18,080,613 18,415,693

Cost of sales 12,002,576 12,790,754
GROSS PROFIT 6,078,037 5,624,939

Administrative expenses 2,906,441 2,124,610
3,171,596 3,500,329

Other operating income 18,592 16,268
OPERATING PROFIT 5 3,190,188 3,516,597

Interest receivable and similar income 14,525 8,749
3,204,713 3,525,346

Interest payable and similar expenses 6 1,389,706 1,127,541
PROFIT BEFORE TAXATION 1,815,007 2,397,805

Tax on profit 7 465,100 591,841
PROFIT FOR THE FINANCIAL PERIOD 1,349,907 1,805,964

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
PERIOD

1,349,907

1,805,964

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

BALANCE SHEET
30 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 18,213,557 15,428,556
18,213,557 15,428,556

CURRENT ASSETS
Debtors 11 2,803,643 3,176,473
Cash at bank 150,857 1,004,669
2,954,500 4,181,142
CREDITORS
Amounts falling due within one year 12 7,542,266 6,644,262
NET CURRENT LIABILITIES (4,587,766 ) (2,463,120 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,625,791 12,965,436

CREDITORS
Amounts falling due after more than one
year

13

(7,628,200

)

(8,269,422

)

PROVISIONS FOR LIABILITIES 17 (1,513,096 ) (1,047,996 )
NET ASSETS 4,484,495 3,648,018

CAPITAL AND RESERVES
Called up share capital 18 2 2
Retained earnings 19 4,484,493 3,648,016
SHAREHOLDERS' FUNDS 4,484,495 3,648,018

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2025 and were signed on its behalf by:




M Meagher - Director



S J Meagher - Director


D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 2 2,251,385 2,251,387

Changes in equity
Dividends - (409,333 ) (409,333 )
Total comprehensive income - 1,805,964 1,805,964
Balance at 31 July 2023 2 3,648,016 3,648,018

Changes in equity
Dividends - (513,430 ) (513,430 )
Total comprehensive income - 1,349,907 1,349,907
Balance at 30 July 2024 2 4,484,493 4,484,495

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

CASH FLOW STATEMENT
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

Period
1.8.23
to Year Ended
30.7.24 31.7.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 5,160,219 4,798,197
Interest paid (65,943 ) (186,326 )
Interest element of hire purchase and
finance lease rental payments paid

(1,323,763

)

(941,215

)
Net cash from operating activities 3,770,513 3,670,656

Cash flows from investing activities
Purchase of tangible fixed assets (5,246,679 ) (8,706,819 )
Sale of tangible fixed assets 491,780 440,000
Interest received 14,525 8,749
Net cash from investing activities (4,740,374 ) (8,258,070 )

Cash flows from financing activities
New loans in year 305,547 -
Loan repayments in year - (155,443 )
Hire purchase funding 696,934 5,632,101
Amount withdrawn by directors (337,884 ) (417 )
Equity dividends paid (513,430 ) (409,333 )
Net cash from financing activities 151,167 5,066,908

(Decrease)/increase in cash and cash equivalents (818,694 ) 479,494
Cash and cash equivalents at beginning of
period

2

969,551

490,057

Cash and cash equivalents at end of period 2 150,857 969,551

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period
1.8.23
to Year Ended
30.7.24 31.7.23
£    £   
Profit before taxation 1,815,007 2,397,805
Depreciation charges 1,937,266 1,330,683
Loss on disposal of fixed assets 32,632 208,924
Finance costs 1,389,706 1,127,541
Finance income (14,525 ) (8,749 )
5,160,086 5,056,204
Decrease/(increase) in trade and other debtors 710,714 (1,122,072 )
(Decrease)/increase in trade and other creditors (710,581 ) 864,065
Cash generated from operations 5,160,219 4,798,197

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 July 2024
30.7.24 1.8.23
£    £   
Cash and cash equivalents 150,857 1,004,669
Bank overdrafts - (35,118 )
150,857 969,551
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 1,004,669 523,341
Bank overdrafts (35,118 ) (33,284 )
969,551 490,057


D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.8.23 Cash flow At 30.7.24
£    £    £   
Net cash
Cash at bank 1,004,669 (853,812 ) 150,857
Bank overdrafts (35,118 ) 35,118 -
969,551 (818,694 ) 150,857
Debt
Hire purchase and finance leases (11,935,079 ) (696,934 ) (12,632,013 )
Debts falling due within 1 year (190,990 ) (411,628 ) (602,618 )
Debts falling due after 1 year (232,263 ) 106,081 (126,182 )
(12,358,332 ) (1,002,481 ) (13,360,813 )
Total (11,388,781 ) (1,821,175 ) (13,209,956 )

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

1. STATUTORY INFORMATION

D & M Plant Hire 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 (£).


2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Going concern
The financial statements have been prepared on a going concern basis even though the company has net current liabilities at 31 July 2024 of £4,587,766 (2023 - £2,463,120).

The validity of the going concern principle is dependent upon the company continuing to trade at a profit and on the continued support of its creditors. Included within creditors due within one year are hire purchase and finance lease liabilities amounting to £5,129,995 (2023 - £3,897,920) payable by instalments over the next twelve months.

If the company was unable to continue trading adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, provide for further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlements discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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.
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. For the purpose of the cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 period 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.

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.

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

4. EMPLOYEES AND DIRECTORS

20242023
£'000000£'000000
Wages and salaries2,127,4281,853,275
Social security costs229,990202,975
Other pension costs40,39034,683
2,397,8082,090,933

The average number of employees during the year was as follows:
20242023

Accounts32
Admin53
Directors22
Drivers1814
Site1213
Workshop53

Total4537

Period
1.8.23
to Year Ended
30.7.24 31.7.23
£    £   
Directors' remuneration 27,914 26,818

5. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.8.23
to Year Ended
30.7.24 31.7.23
£    £   
Depreciation - owned assets 80,431 88,183
Depreciation - assets on hire purchase contracts and finance leases 1,856,835 1,242,499
Loss on disposal of fixed assets 32,632 208,924
Auditors' remuneration 12,000 10,000

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

6. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.8.23
to Year Ended
30.7.24 31.7.23
£    £   
Bank interest 3,510 2,530
Bank loan interest 114,401 98,073
PAYE interest 586 -
VAT/PAYE surcharges and
interest (52,554 ) 85,723
Hire purchase interest 1,292,793 684,500
Finance lease interest 30,970 256,715
1,389,706 1,127,541

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.8.23
to Year Ended
30.7.24 31.7.23
£    £   
Deferred tax 465,100 591,841
Tax on profit 465,100 591,841

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.8.23
to Year Ended
30.7.24 31.7.23
£    £   
Profit before tax 1,815,007 2,397,805
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 21%)

453,752

503,539

Effects of:
Expenses not deductible for tax purposes 2,309 21,121
Capital allowances in excess of depreciation (863,954 ) (973,763 )
Finance lease adjustments (164,043 ) (136,751 )
Deferred tax movement 465,100 591,841
Tax losses 571,936 585,854
Total tax charge 465,100 591,841

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

8. DIVIDENDS
Period
1.8.23
to Year Ended
30.7.24 31.7.23
£    £   
Ordinary A shares of 10p each
Interim 397,656 200,360
Ordinary B shares of 10p each
Interim 115,774 208,973
513,430 409,333

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 30 July 2024 30,000
AMORTISATION
At 1 August 2023
and 30 July 2024 30,000
NET BOOK VALUE
At 30 July 2024 -
At 31 July 2023 -

10. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 17,786,102 42,615 884,043 17,694 18,730,454
Additions 5,103,215 - 118,464 25,000 5,246,679
Disposals (851,000 ) - - - (851,000 )
At 30 July 2024 22,038,317 42,615 1,002,507 42,694 23,126,133
DEPRECIATION
At 1 August 2023 2,781,042 42,504 465,984 12,368 3,301,898
Charge for period 1,808,850 28 120,233 8,155 1,937,266
Eliminated on disposal (326,588 ) - - - (326,588 )
At 30 July 2024 4,263,304 42,532 586,217 20,523 4,912,576
NET BOOK VALUE
At 30 July 2024 17,775,013 83 416,290 22,171 18,213,557
At 31 July 2023 15,005,060 111 418,059 5,326 15,428,556


D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,052,617 2,458,831
Other debtors 29,147 334,051
Directors' loan accounts 701,574 363,690
Prepayments 20,305 19,901
2,803,643 3,176,473

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 602,618 226,108
Hire purchase contracts and finance leases (see note 15)
5,129,995

3,897,920
Trade creditors 1,308,021 1,906,828
Social security and other taxes 123,352 201,134
Other creditors 356,280 380,384
Accrued expenses 22,000 31,888
7,542,266 6,644,262

Included within other creditors are balances due to related parties of £170,865 (2023 : £231,352).

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 14) 126,182 232,263
Hire purchase contracts and finance leases (see note 15)
7,502,018

8,037,159
7,628,200 8,269,422

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 35,118
Bank loan 602,618 190,990
602,618 226,108

Amounts falling due between one and two years:
Bank loans - 1-2 years 126,182 232,263

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
2024 2023 2024 2023
£    £    £    £   
Net obligations repayable:
Within one year 4,535,936 3,201,731 594,059 696,189
Between one and five years 6,881,109 6,830,086 620,909 1,207,073
11,417,045 10,031,817 1,214,968 1,903,262

Finance leases primarily relate to the leasing of machines for use in the trading activities of the business.

Non-cancellable operating leases
2024 2023
£    £   
Within one year 90,000 98,367
Between one and five years 135,000 202,500
225,000 300,867

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 35,118

The bank overdraft is secured by a fixed and floating charge over the company.

The hire purchase liabilities are secured on the assets to which they relate.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,513,096 1,047,996

Deferred
tax
£   
Balance at 1 August 2023 1,047,996
Movement in year 465,100
Balance at 30 July 2024 1,513,096

D & M PLANT HIRE LIMITED (REGISTERED NUMBER: 04028611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 30 JULY 2024

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value £ £
18 Ordinary A 10p 1.80 1.80
2 Ordinary B 10p 0.20 0.20
2 2

All shares rank equally in respect of voting rights, dividend rights and rights on winding up.

19. RESERVES
Retained
earnings
£   

At 1 August 2023 3,648,016
Profit for the period 1,349,907
Dividends (513,430 )
At 30 July 2024 4,484,493

20. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £40,390 (2023 - £34,683). Of the contributions paid, £0 (2023 - £0) relate to the directors. Contributions are charged to the profit and loss account as paid.

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors' subsisted during the periods ended 30 July 2024 and 31 July 2023:

20242023
££

Balance outstanding at start of year363,690363,273
Amounts advanced2,869,6311,429,674
Amounts repaid(2,531,747)(1,429,257)
Amounts written off--
Amounts waived--
Balance outstanding at end of the year701,574363,690

The advances were subject to a market rate of interest, unsecured and repayable on demand.