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Registered number: 05541615 JRT PLANT LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
JRT PLANT LIMITED REGISTERED NUMBER: 05541615 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 5,122,613 |  | 4,949,249
|  |  | 5,122,613 |  | 4,949,249
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 536,603 |  | 1,139,924 |
|  | 536,603 |  | 1,139,924 |
Creditors: amounts falling due within one year | 6 | (2,850,404) |  | (3,444,805) |
Net current liabilities |  |  | (2,313,801) |  | (2,304,881)
Total assets less current liabilities |  |  | 2,808,812 |  | 2,644,368
Creditors: amounts falling due after more than one year | 7 |  | (1,998,258) |  | (2,141,994)
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (489,724) |  | (389,272) |
Provisions | 10 | (125,000) |  | (50,000) |
|  |  | (614,724) |  | (439,272)
Net assets |  |  | 195,830 |  | 63,102
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 10,000 |  | 10,000
Profit and loss account |  |  | 185,830 |  | 53,102
|  |  | 195,830 |  | 63,102
Page 1
JRT PLANT LIMITED REGISTERED NUMBER: 05541615 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with 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:
Mr R Taylor
Director
Date: 26 August 2025
The notes on pages 4 to 12 form part of these financial statements. Page 2
JRT PLANT LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2023 | 10,000 | 87,637 | 97,637
Comprehensive income for the year |  |  |
Loss for the year | - | (34,535) | (34,535)
At 1 April 2024 | 10,000 | 53,102 | 63,102
Comprehensive income for the year |  |  |
Profit for the year | - | 132,728 | 132,728
At 31 March 2025 | 10,000 | 185,830 | 195,830
| The notes on pages 4 to 12 form part of these financial statements.
Page 3
JRT PLANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
The entity is a private company, limited by shares, incorporated in England and Wales. The registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. The nature of the company's operations is the hire of plant and equipment. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company had net current liabilities of £2,313,801 (2024 - £2,304,881) and net assets of £195,830 (2024 - £63,102) at the balance sheet date. Based on future cash flows on ongoing contracts and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty with regards to the entity's ability to continue as a going concern. The financial statements have been prepared on a going concern basis as the parent company, KLT Group of Companies Limited, has indicated its support of the company for at least 12 months from the date of approval of the financial statements.
| 2.3 | 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. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 4
JRT PLANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Leased assets: the Company as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
| 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.
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution pension 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. Page 5
JRT PLANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.8 | 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.
| 2.9 | 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. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% | Straight line
|  |  |  | Motor vehicles | - | 25% | Reducing balance
|  |  |  | Fixtures and fittings | - | 25% | Reducing balance
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. Page 6
JRT PLANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | 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.
| 2.11 | 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.
| 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. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the Page 7
JRT PLANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.13 | Financial instruments (continued)
present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 22 (2024 - 25).
Page 8
JRT PLANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 April 2024 | 3,116,420 | 7,841,777 | 36,517 | 10,994,714
| Additions | 458,742 | 1,300,233 | - | 1,758,975
| Disposals | (1,095,313) | (300,644) | - | (1,395,957)
| At 31 March 2025 | 2,479,849 | 8,841,366 | 36,517 | 11,357,732
| Depreciation |  |  |  |
| At 1 April 2024 | 2,039,361 | 3,974,965 | 31,139 | 6,045,465
| Charge for the year | 335,970 | 1,071,191 | 1,344 | 1,408,505
| Disposals | (1,004,938) | (213,913) | - | (1,218,851)
| At 31 March 2025 | 1,370,393 | 4,832,243 | 32,483 | 6,235,119
| Net book value |  |  |  |
| At 31 March 2025 | 1,109,456 | 4,009,123 | 4,034 | 5,122,613
| At 31 March 2024 | 1,077,059 | 3,866,812 | 5,378 | 4,949,249
| The net book value of assets held under HP and finance leases at 31 March 2025 was £4,262,175 (2024 - £4,344,343 ).
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 411,070 | 885,726
| Amounts owed by group undertakings | 3,703 | -
| Other debtors | 94,344 | 223,587
| Prepayments and accrued income | 27,486 | 30,611
|  | 536,603 | 1,139,924
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JRT PLANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | 1,473,268 | 1,737,937
| Trade creditors | 234,595 | 568,312
| Amounts owed to group undertakings | - | 53,778
| Other taxation and social security | 17,655 | 21,083
| Obligations under finance lease and hire purchase contracts | 1,083,976 | 1,030,085
| Accruals and deferred income | 40,910 | 33,610
|  | 2,850,404 | 3,444,805
| Bank overdrafts of £1,473,268 (2024 - £1,737,937) are secured on the assets of the group. Net obligations under finance leases and hire purchase contracts of £1,083,976 (2024 - £1,030,085) are secured on the assets to which they relate.
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 1,998,258 | 2,141,994
|  | 1,998,258 | 2,141,994
| Net obligations under finance leases and hire purchase contracts of £1,998,258 (2024 - £2,141,994) are secured on the assets to which they relate.
8. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 1,267,487 | 1,140,060
| Between 1-5 years | 2,371,841 | 2,542,529
|  | 3,639,328 | 3,682,589
| At the balance sheet date the total hire purchase and finance lease creditor was £3,082,234 (2024 - £3,172,079). The difference of £557,094 (2024 - £510,510) between the creditor and the minimum lease payments is the future interest payable.
Page 10
JRT PLANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 389,272
| Charged to profit or loss | 100,452
| At end of year | 489,724
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | 489,724 | 256,258
| Tax losses carried forward | - | 133,014
|  | 489,724 | 389,272
10. | Provisions
|  | Damages provision
|  | £
| At 1 April 2024 | 50,000
| Charged to profit or loss | 75,000
| At 31 March 2025 | 125,000
| The provision as at 31 March 2025 relates to the directors' assessment of the expected damages to be paid to suppliers of hired plant for damages incurred during projects completed to date. The timing of the payment is unknown, but expected to be over the next five years.
11. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 10,000 (2024 - 10,000) Ordinary shares of £1.00 each | 10,000 | 10,000
Page 11
JRT PLANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. | 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 in the year and amounted to £20,409 (2024 - £17,830)
13. | Parent entity and controlling party
The parent entity is KLT Group of Companies Limited. The largest and smallest groups in which the results of the company are consolidated are those headed by KLT Group of Companies Limited, a company incorporated in England and Wales with a registered office of 6th Floor, 2 London Wall Place, London, United Kingdom, EC2Y 5AU. The company was under the control of the director, Mrs J Taylor, as at 31 March 2025 as as a result of her control of the parent company, KLT Group of Companies Limited.
14. | Auditor's information
The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified. The audit report was signed on 10 September 2025 by Neil Stern FCA (Senior Statutory Auditor) on behalf of MHA.
Page 12