For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question 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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Oakwood Plant Limited is a private company limited by shares incorporated in England and Wales. The registered office is Nobel Road, Edmonton, London, United Kingdom, N18 3BH.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

The company recognises revenue from the following major sources:

• Hire of plant and machinery

• Waste transfer station and skip hire

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from short-term contracts for the provision of renting out plant, machinery and lorries, including operators, is recognised on a straight-line basis by reference to an assessment of the value of the services provided at the balance sheet date as a proportion of the total value of the rental agreement.

The rental of plant, machinery and lorries is generally short-term in nature, and plant, machinery and lorries are generally rented out for the majority of the time they are owned.

See accounting policy for tangible fixed assets in respect of recognising revenue from the disposal of plant, machinery and lorries.

Revenue from the provision of waste transfer station services is recognised on an accruals basis. Revenue recognition generally aligns with the point when waste is accepted by the waste transfer station, as this is when the service is essentially provided. The income recognised in this area is based on revenue generated from actual tonnages.

Revenue from the provision of skip hire and collection is also recognised on an accruals basis. Revenue recognition generally aligns with the point when waste is collected. The income recognised in this area is based on revenue generated from a combination of factors including skip size, rental duration, waste type and actual tonnages.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The average monthly number of persons (including directors) employed by the company during the year was:

The bank have a fixed and floating charge over all the assets of the company.

The bank overdraft facility is secured by way of a fixed and floating charge over all the assets of the company.

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

The following amounts were outstanding at the reporting end date:

Amounts due to directors of the company at the balance sheet date was £144,277 (2024: £194,912).

The parent company of Oakwood Plant Limited is Oakwood Plant Group Limited.