G.F. GORDON (PLANT HIRE) LIMITED


Directors	Arran J S Gordon
	Grant F Gordon
	Ross C Gordon
	Alex P Ingham


Company Secretary	Ross C Gordon


Registered Address	19 Juliet Way
	Purfleet
	South Ockendon
	RM15 4YD


Registered Number	03948973 (England and Wales)

Notes to the Financial Statements
for the year ended 31 January 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

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

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. 

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	25	-
Fixtures and fittings	-	3
Vehicles	-	3
Office Equipment	-	3

	Impairment of non-financial assets policy
	Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	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.

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.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		4

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 February 24	5,669,854
	Additions	16,721
	Disposals	(1,800,000)
	At 31 January 25	3,886,576
	Depreciation and impairment
	At 01 February 24	573,493
	Charge for year	508,732
	On disposals	(108,000)
	At 31 January 25	974,225
	Net book value
	At 31 January 25	2,912,350
	At 31 January 24	5,096,360


	Freehold property was adjusted to fair value by the directors at the 2021 year end. The valuation was based on an independent valuation from a RICS Chartered Surveyor. The historical cost was £667,175. Disposals represent a transfer of freehold land and property to the parent company at the carrying amount. No gain or loss is recognised on transfers of assets between group entities for the purposes of the parent and subsidiary company’s individual accounts. Certain assets are held under hire purchase agreements. The assets are included at a net book value of £2,845,737 (2024: £3,362,832). The related liabilities are included in creditors

Freehold property was adjusted to fair value by the directors at the 2021 year end. The valuation was based on an independent valuation from a RICS Chartered Surveyor. The historical cost was £667,175.

Disposals represent a transfer of freehold land and property to the parent company at the carrying amount. No gain or loss is recognised on transfers of assets between group entities for the purposes of the parent and subsidiary company’s individual accounts.

Certain assets are held under hire purchase agreements. The assets are included at a net book value of £2,845,737 (2024: £3,362,832). The related liabilities are included in creditors

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	1,084,254	1,857,892
Amounts owed by group undertakings	2,442,728	1,315,775
Other debtors	12,007	32,561
Prepayments and accrued income	141,727	83,842
Total	3,680,716	3,290,070

5.	Debtors: amounts due after one year

	2025	2024
	£	£
Other debtors	77,324	171,074
Total	77,324	171,074

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	654,047	777,943
Bank borrowings and overdrafts	878,806	78,651
Finance lease and HP contracts	578,201	584,139
Other creditors	221,438	1,311,512
Accrued liabilities and deferred income	49,365	-
Total	2,381,857	2,752,245

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	395,156
Other creditors	1,343,486	1,923,269
Total	1,343,486	2,318,425


	Other Creditors represents Finance Lease and HP contracts.

8.	Secured creditors
	Lloyds Bank plc holds a fixed and floating charge covering all the property or undertaking of the company. At the year end, the company owed Barclays Bank PLC £nil (2024: £1,769,862) by way of loans and factoring advances. This is secured on the assets of the company. None of this balance is due more than 5 years. At the year end, the company owed Lloyds Bank Commercial Finance Ltd £866,180 (2024: £nil) by way of factoring advances. This is secured on the assets of the group. None of this balance is due more than 5 years.

Secured creditors

Lloyds Bank plc holds a fixed and floating charge covering all the property or undertaking of the company.

At the year end, the company owed Barclays Bank PLC £nil (2024: £1,769,862) by way of loans and factoring advances. This is secured on the assets of the company. None of this balance is due more than 5 years.

At the year end, the company owed Lloyds Bank Commercial Finance Ltd £866,180 (2024: £nil) by way of factoring advances. This is secured on the assets of the group. None of this balance is due more than 5 years.

9.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	1,921,686		2,507,408

10.	Related party transactions
	During the year the company entered into transactions totalling £nil (2024: £490,284) with related parties. As at the year end the balance owed was £nil (2024: £235,810). During the year a director loaned the company £215,809 (2024: nil). As at the year end the balance owed to the director was £215,809 (2024: nil) The company is a wholly owned subsidiary of Gordon Group Ltd Limited and has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with Gordon Group Ltd or other wholly owned subsidiaries within the group.

10.

Related party transactions

During the year the company entered into transactions totalling £nil (2024: £490,284) with related parties. As at the year end the balance owed was £nil (2024: £235,810).

During the year a director loaned the company £215,809 (2024: nil). As at the year end the balance owed to the director was £215,809 (2024: nil)

The company is a wholly owned subsidiary of Gordon Group Ltd Limited and has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with Gordon Group Ltd or other wholly owned subsidiaries within the group.

11.	Controlling party
	The ultimate parent undertaking is Gordon Group Ltd, a company incorporated in England and Wales. Gordon Group Ltd owns 100% of the issued share capital in the company.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		2,912,350		5,096,360
			2,912,350		5,096,360
Current assets
Stocks		14,780		10,500
Debtors	4,5	3,758,039		3,461,144
Cash at bank and on hand		62,767		8,047
		3,835,586		3,479,691
Creditors amounts falling due within one year	6	(2,381,857)		(2,752,245)
Net current assets (liabilities)			1,453,729		727,446
Total assets less current liabilities			4,366,079		5,823,806
Creditors amounts falling due after one year	7		(1,343,486)		(2,318,425)
Provisions for liabilities			(202,099)		(523,710)
Net assets			2,820,494		2,981,671
Capital and reserves
Called up share capital			100		100
Revaluation reserve			-		662,126
Profit and loss account			2,820,394		2,319,445
Shareholders' funds			2,820,494		2,981,671