REGISTERED NUMBER: 09743160 (England and Wales)

MGB PLANT HIRE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D McGuinness

S McGuinness

K M McGuinness

REGISTERED OFFICE:

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

REGISTERED NUMBER:

09743160 (England and Wales)

AUDITORS:

Miller & Co

Statutory Auditor

Chartered Accountants

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

FIXED ASSETS

Tangible assets

5

433,916

96,879

CURRENT ASSETS

Debtors

6

145,411

181,458

Cash at bank and in hand

40,800

22,666

186,211

204,124

CREDITORS

Amounts falling due within one year

7

32,794

71,749

NET CURRENT ASSETS

153,417

132,375

TOTAL ASSETS LESS CURRENT LIABILITIES

587,333

229,254

CREDITORS

Amounts falling due after more than one year

8

(15,675

)

-

PROVISIONS FOR LIABILITIES

(108,479

)

(24,220

)

NET ASSETS

463,179

205,034

CAPITAL AND RESERVES

Called up, paid and allotted share capital

200

200

Capital redemption reserve

1

1

Retained earnings

462,978

204,833

SHAREHOLDERS' FUNDS

463,179

205,034

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

K M McGuinness - Director

1.	STATUTORY INFORMATION

MGB 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, rounded to the nearest pound.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Income recognition

Income is recognised when goods/services have been delivered to customers such that risks and rewards of ownership have transferred to them.

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

-

25% on reducing balance

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

181,848

Additions

472,898

At 31 December 2024

654,746

DEPRECIATION

At 1 January 2024

84,969

Charge for year

135,861

At 31 December 2024

220,830

NET BOOK VALUE

At 31 December 2024

433,916

At 31 December 2023

96,879

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

145,411

-

Other debtors

-

181,458

145,411

181,458

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

30,115

-

Taxation and social security

2,679

70,650

Other creditors

-

1,099

32,794

71,749

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

15,675

-

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

The financial statements of the Company for the year ended 31 December 2023 were not audited and therefore the comparative figures are unaudited.

Stephen Healy (Senior Statutory Auditor)

for and on behalf of Miller & Co

10.	RELATED PARTY DISCLOSURES

The company traded in the normal course of business with MGBC Ltd, a group company.

During the year, MGB Plant Hire Ltd raised sales invoices to MGBC Ltd in the amount of £480,000. Conversely, fixed assets were purchased by MGB Plant Hire Ltd from MGBC Ltd in the amount of £409,498. Further loans were also provided by MGBC Ltd in aggregate of £120,650.

At the year end, the balance owed by MGBC Ltd was £145,411 (2024 £181,458) which is interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

McGuinness Brothers Group Ltd, a UK registered company, is the immediate and ultimate parent company. The registered office address is Unit 5 Imperial Court, Laporte Way, Luton, LU4 8FE.