REGISTERED NUMBER: 06160720 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Richmond Plant Hire Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D E Balfe

REGISTERED OFFICE:

Richmond House Brant Road

Fulbeck

GRANTHAM

Lincolnshire

NG32 3JF

REGISTERED NUMBER:

06160720 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

FIXED ASSETS

Tangible assets

4

947,100

1,103,564

CURRENT ASSETS

Stocks

30,573

27,310

Debtors

355,472

309,060

Cash at bank and in hand

4,318

8,275

390,363

344,645

CREDITORS

Amounts falling due within one year

549,559

513,185

NET CURRENT LIABILITIES

(159,196

)

(168,540

)

TOTAL ASSETS LESS CURRENT LIABILITIES

787,904

935,024

CREDITORS

Amounts falling due after more than one year

(109,664

)

(282,623

)

PROVISIONS FOR LIABILITIES

(236,775

)

(261,294

)

NET ASSETS

441,465

391,107

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

440,465

390,107

441,465

391,107

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 director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

D E Balfe - Director

1.	STATUTORY INFORMATION

Richmond 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost, 15% on cost and at varying rates on cost

Fixtures and fittings

-

25% on reducing balance

Stocks

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

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Taxation

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

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

2,696,245

Additions

34,561

Disposals

(128,671

)

At 31 December 2024

2,602,135

DEPRECIATION

At 1 January 2024

1,592,681

Charge for year

150,123

Eliminated on disposal

(87,769

)

At 31 December 2024

1,655,035

NET BOOK VALUE

At 31 December 2024

947,100

At 31 December 2023

1,103,564

5.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

125,607

130,135

Bank loans

70,485

120,485

Finance leases

151,231

206,758

347,323

457,378

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

D E Balfe

Balance outstanding at start of year

-

71,588

Amounts repaid

-

(71,588

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

7.	RELATED PARTY DISCLOSURES

Included in creditors are amounts owing to directors totalling £83,550 (2023: £103,550). This loan is unsecured, interest free and repayable on demand.

The company owes £Nil (2023: £60,317) to a company owned by the sole shareholder. The loan is classed as falling due after more than one year.

Sales and purchase of goods with the related party were made at usual list prices.

Sales £435,141 (2023: £316,654)

Purchases £ 39,577 (2023: £66,447)

Included in trade debtors is £70,691 (2023: £67,455)

Included in trade creditors £29,371 (2023: £13,032)