D. FURNELL PLANT SERVICES LIMITED


Directors	FURNELL, David James
	KIDD, Ian James
	THOLE, Zachary James


Company Secretary	THOLE, Zachary James


Registered Address	Enterprise House
	Maxted Road
	Hemel Hempstead
	HP2 7BT


Registered Number	00913164 (England and Wales)

Notes to the Financial Statements
for the year ended 30 April 2025

1.	Accounting policies

	Statutory information
	D.Furnell Plant Services Ltd is a private company limited by shares, incorporated and registered in England and Wales under the Companies Act 2006.

	Statement of compliance
	The financial statements have been prepared in accordance with FRS 102 Section 1A and the Companies Act 2006 under the historical cost convention.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Revenue from sale of goods
	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 generated by the storage and distribution of goods and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Deferred tax
	Deferred tax is recognised on temporary differences between the accounts carrying value of assets and their tax value. For the company this mainly relates to trucks held on finance leases. Deferred tax is measured at the tax rates expected to apply when the differences reverse. Balances are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at historical cost less accumulated depreciation and impairment. Cost includes purchase price and any directly attributable costs of bringing plant, vehicles and equipment into working condition for their intended use. Depreciation is provided to allocate the cost of assets, less estimated residual value, over their useful lives. The company uses the reducing balance method, reflecting the pattern of economic use of transport assets. Residual values, useful lives and depreciation methods are reviewed annually and adjusted where appropriate. Gains and losses on disposal are recognised in profit or loss when the assets are sold or retired.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at historical cost less accumulated depreciation and impairment. Cost includes purchase price and any directly attributable costs of bringing plant, vehicles and equipment into working condition for their intended use.

Depreciation is provided to allocate the cost of assets, less estimated residual value, over their useful lives. The company uses the reducing balance method, reflecting the pattern of economic use of transport assets.

Residual values, useful lives and depreciation methods are reviewed annually and adjusted where appropriate. Gains and losses on disposal are recognised in profit or loss when the assets are sold or retired.


		Straight line (years)
	Plant and machinery	4
	Vehicles	5

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Finance leases and hire purchase contracts
	Assets held under hire purchase and finance lease agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss on a straight line basis.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	21		21

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 01 May 24	103,301	1,462,479	1,565,780
Additions	-	68,000	68,000
Disposals	-	(109,149)	(109,149)
At 30 April 25	103,301	1,421,330	1,524,631
Depreciation and impairment
At 01 May 24	95,812	992,387	1,088,199
Charge for year	5,050	102,116	107,166
Other adjustments	-	(104,299)	(104,299)
At 30 April 25	100,862	990,204	1,091,066
Net book value
At 30 April 25	2,439	431,126	433,565
At 30 April 24	7,489	470,092	477,581

4.	Fixed asset investments
	The carrying value of investments represents an advance made to Enterprise House (Hemel) Ltd. Further details of this balance are provided in the Related Party Transactions note.

	Loans to groups¹	Total
	£	£
Cost or valuation
At 01 May 24	366,000	366,000
Additions	1,750	1,750
At 30 April 25	367,750	367,750
Net book value
At 30 April 25	367,750	367,750
At 30 April 24	366,000	366,000

	Notes
	¹Loans to group undertakings and participating interests

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	12,151	7,528
Total	12,151	7,528

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	379,674	345,785
Other debtors	325	-
Total	379,999	345,785

7.	Debtors: amounts due after one year

	2025	2024
	£	£
Other debtors	61,672	35,258
Total	61,672	35,258

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	100,567	69,425
Bank borrowings and overdrafts	76,731	74,481
Taxation and social security	146,267	93,160
Payments received on account	340	-
Finance lease and HP contracts	130,323	139,823
Other creditors	7,570	8,058
Accrued liabilities and deferred income	15,172	19,873
Total	476,970	404,820

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	12,500	22,552
Other creditors	119,252	174,115
Total	131,752	196,667


	Other creditors include £119,252 (2024: £139,832) representing the non-current portion of the company’s obligations under finance leases.

10.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	249,575		313,938


	The total obligations under finance leases are set out in the table above. Of this balance, £130,323 (2024: £139,832) is repayable within one year and is therefore presented as the current portion of finance lease liabilities.

11.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	124,873	118,873
Total	124,873	118,873

12.	Related party transactions
	The company has transactions with related parties by virtue of common ownership and directorships: - D Furnell Plant Services Ltd is a wholly owned subsidiary of FTK Holdings Ltd. - Enterprise House (Hemel) Ltd has common ownership and control with D Furnell Plant Services Ltd. - Maxted Road Lorry Park is owned by Mr David Furnell, who is also a director of D Furnell Plant Services Ltd. During the year the company entered into the following transactions with related parties: Interest income of £15,263 (2024: £17,723) was received from Enterprise House (Hemel) Ltd in respect of a loan balance outstanding. Rent of £110,000 (2024: £110,000) was paid to Enterprise House (Hemel) Ltd in respect of the use of a commercial property. The transactions were conducted on normal commercial terms. Rent of £118,736 (2024: £112,104) was paid to Maxted Road Lorry Park in respect of a commercial property. The transactions were conducted on normal commercial terms. At the balance sheet date the company had the following balances with related parties: An outstanding loan receivable from Enterprise House (Hemel) Ltd of £367,500 (2024: £360,000). The loan is unsecured and is repayable on demand. Amounts owed by directors of £24,489 (2024: £2,874). These balances are interest free and repayable on demand.

12.

Related party transactions

The company has transactions with related parties by virtue of common ownership and directorships:
 - D Furnell Plant Services Ltd is a wholly owned subsidiary of FTK Holdings Ltd.
 - Enterprise House (Hemel) Ltd has common ownership and control with D Furnell Plant Services Ltd.
 - Maxted Road Lorry Park is owned by Mr David Furnell, who is also a director of D Furnell Plant Services Ltd.

During the year the company entered into the following transactions with related parties:

Interest income of £15,263 (2024: £17,723) was received from Enterprise House (Hemel) Ltd in respect of a loan balance outstanding.

Rent of £110,000 (2024: £110,000) was paid to Enterprise House (Hemel) Ltd in respect of the use of a commercial property. The transactions were conducted on normal commercial terms.

Rent of £118,736 (2024: £112,104) was paid to Maxted Road Lorry Park in respect of a commercial property. The transactions were conducted on normal commercial terms.

At the balance sheet date the company had the following balances with related parties:

An outstanding loan receivable from Enterprise House (Hemel) Ltd of £367,500 (2024: £360,000). The loan is unsecured and is repayable on demand.

Amounts owed by directors of £24,489 (2024: £2,874). These balances are interest free and repayable on demand.

	Notes	2025		2024
		£	£	£	£
ASSETS
Fixed assets
Tangible assets	3		433,565		477,581
Investments	4		367,750		366,000
			801,315		843,581
Current assets
Stocks	5	12,151		7,528
Debtors	6,7	441,671		381,043
Cash at bank and in hand		50,683		30,056
		504,505		418,627
Prepayments and accrued income		3,802		3,897
			508,307		422,524
			1,309,622		1,266,105
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital			5,000		5,000
Profit and loss account			571,027		540,745
			576,027		545,745
Liabilities
Creditors amounts falling due within one year	8		476,970		404,820
Creditors amounts falling due after one year	9		131,752		196,667
Provisions for liabilities	11		(124,873)		(118,873)
			1,309,622		1,266,105