Company No: 01141225 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	Mrs J P Broadley
	Mr P J Huggins
	Mrs A P Huggins
	Mr S J Huggins
	Mr J R Huggins

Secretary

Mrs A P Huggins

Registered office	Chunnel House
	6 - 16 Canterbury Road
	Lydden
	Nr Dover
	Kent
	CT15 7ER
	United Kingdom

Company number

01141225 (England and Wales)

Accountant	Kreston Reeves LLP
	37 St Margarets Street
	Canterbury
	Kent
	CT1 2TU

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chunnel Plant Hire & Contractors Ltd for the financial year ended 31 December 2024 which comprise the Balance Sheet and the related notes 1 to 11 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Chunnel Plant Hire & Contractors Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Chunnel Plant Hire & Contractors Ltd. You consider that Chunnel Plant Hire & Contractors Ltd is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Chunnel Plant Hire & Contractors Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Chunnel Plant Hire & Contractors Ltd, as a body, in accordance with the terms of our engagement letter dated 15 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Chunnel Plant Hire & Contractors Ltd and state those matters that we have agreed to state to the Board of Directors of Chunnel Plant Hire & Contractors Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chunnel Plant Hire & Contractors Ltd and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

37 St Margarets Street
Canterbury
Kent
CT1 2TU

03 September 2025

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	2,881,217		2,863,201
Investments	4	245,818		245,818
		3,127,035		3,109,019
Current assets
Debtors	5	1,255,769		1,315,073
Cash at bank and in hand		188,643		153,116
		1,444,412		1,468,189
Creditors: amounts falling due within one year	6	( 689,472)		( 659,876)
Net current assets		754,940		808,313
Total assets less current liabilities		3,881,975		3,917,332
Provision for liabilities	7	( 558,516)		( 459,002)
Net assets		3,323,459		3,458,330
Capital and reserves
Called-up share capital	8	50,000		50,000
Profit and loss account		3,273,459		3,408,330
Total shareholders' funds		3,323,459		3,458,330

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Chunnel Plant Hire & Contractors Ltd (registered number: 01141225) were approved and authorised for issue by the Board of Directors on 03 September 2025. They were signed on its behalf by:

Mr J R Huggins Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chunnel Plant Hire & Contractors Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Chunnel House, 6 - 16 Canterbury Road, Lydden, Nr Dover, Kent, CT15 7ER, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	10 years straight line
Other property, plant and equipment	6.67 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	31		31

3. Tangible assets

	Land and buildings		Plant and machinery		Other property, plant and equipment		Total
	£		£		£		£
Cost
At 01 January 2024	796,410		8,178,601		568,767		9,543,778
Additions	0		788,143		1,574		789,717
Disposals	0		( 1,131,540)		( 26,449)		( 1,157,989)
At 31 December 2024	796,410		7,835,204		543,892		9,175,506
Accumulated depreciation
At 01 January 2024	144,868		6,098,574		437,135		6,680,577
Charge for the financial year	5,233		719,773		38,100		763,106
Disposals	0		( 1,122,947)		( 26,447)		( 1,149,394)
At 31 December 2024	150,101		5,695,400		448,788		6,294,289
Net book value
At 31 December 2024	646,309		2,139,804		95,104		2,881,217
At 31 December 2023	651,542		2,080,027		131,632		2,863,201

Included in land and buildings is freehold land at cost of £533,820 (2023: £553,820), which is not depreciated.

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	245,818		245,818
At 31 December 2024	245,818		245,818
Carrying value at 31 December 2024	245,818		245,818
Carrying value at 31 December 2023	245,818		245,818

Investments comprise 50% interest in a farming partnership with Mr J R Huggins, a director of the company and shareholder of the parent company.

5. Debtors

	2024		2023
	£		£
Trade debtors	1,106,170		1,221,877
Prepayments and accrued income	77,090		26,564
Other debtors	72,509		66,632
	1,255,769		1,315,073

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	184,889		114,366
Amounts owed to directors	341,737		361,114
Accruals	15,800		3,960
Other taxation and social security	105,796		142,936
Other creditors	41,250		37,500
	689,472		659,876

7. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 459,002)		( 398,323)
Charged to the Profit and Loss Account	( 99,514)		( 60,679)
At the end of financial year	( 558,516)		( 459,002)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 558,516)		( 459,002)

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
50,000 Ordinary shares of £ 1.00 each	50,000		50,000

9. Financial commitments

Pensions

The company operates a defined contributions pension scheme for some employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
Contributions to the pension scheme amounted to £35,065 (2023: £33,937). Contributions totalling £41,250 (2023: £37,500) were payable to the fund at the reporting date and are included in creditors.

10. Related party transactions

Included in other creditors due within one year are amounts owing to the directors of £341,737 (2023: £361,114).

All directors’ remuneration paid by the company during the year was done so under normal market conditions.

11. Ultimate controlling party

The controlling party is Mr & Mrs J R Huggins and their close family by virtue of their ownership of 100% of the issued share capital in the holding company Chunnel Group Limited.

The company is a wholly owned subsidiary of Chunnel Group Limited which company is incorporated in England.