Company registration number 03146496 (England and Wales)
T & M PLANT HIRE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
T & M PLANT HIRE LIMITED
COMPANY INFORMATION
Directors
Mr T J Beasley
Mrs M J Beasley
Miss H J Beasley
(Appointed 5 March 2025)
Mr L R Dicker
(Appointed 5 March 2025)
Secretary
Mr T J Beasley
Company number
03146496
Registered office
T & M House
Star Road
Partridge Green
West Sussex
England
RH13 8RA
Auditor
Perrys Audit Limited
Chartered Accountants
4th Floor
399-401 Strand
London
United Kingdom
WC2R 0LT
T & M PLANT HIRE LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Statement of comprehensive income
6
Balance sheet
7
Statement of changes in equity
8
Statement of cash flows
9
Notes to the financial statements
10 - 20
Independent auditor's report
21 - 23
T & M PLANT HIRE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -

The directors present the strategic report for the year ended 30 April 2025.

Review of the business

The company continues to be the market leading provider of fuel distribution, water and waste services to the Infrastructure Construction sector in the United Kingdom (UK). T & M Plant Hire Limited was incorporated in 1996 to fulfil an opportunity in the market to provide specialist support services to large infrastructure construction projects in the UK, predominantly road and rail projects. The company's services are specifically designed to meet the needs and requirements of the company's customers, working to deliver large infrastructure construction projects in the UK.

In June 2025, the company transitioned to an Employee Ownership Trust (EOT) model. This marks a significant milestone in the company’s journey, strengthening its long-term stability and ensuring employees have a direct stake in the future success of the business. The change underpins our culture of collaboration, integrity and partnership, while supporting the company’s growth strategy.

Principal risks and uncertainties

Business Risks

The Board is ultimately responsible for setting the company's risk appetite and for overseeing the effective management of risk. Day to day risk management is the responsibility of the senior management team of the company and a framework setting out the company's risks and risk management's processes and procedures is in place.

Economic Environment Risk

Changes in the economic environment, both national and global, may adversely affect our business and our customers' businesses. However, all our business is within the UK, and is ultimately Government spending on large infrastructure projects such as Highway improvements and HS2 Rail. There is significant and ongoing spending on many projects, both current and forthcoming.

Whilst the change in UK Government in 2024 brought some shifts in priorities, there remains a strong commitment to infrastructure investment, which provides confidence in future demand for our services.

Financial Risk

As part of the EOT transition, the company has a financial obligation to the previous shareholders. The company also uses finance lease and hire purchase agreements to purchase new vehicles. There is a risk that this funding may not always be available in the future if it is deemed that the company would be unable to meet its financial obligations. To mitigate this risk, net debt is monitored daily and banking facilities are reviewed against future expected cashflow movements to ensure that adequate facilities are in place.

The company is also exposed to credit risk from trade receivables. The company monitors and manages this, with exposure spread over many customers and multi-entity joint ventures which in themselves ensure a spread of risk. Ultimately, the end customer is the Government and the Government backs off the commercial and financial risk by awarding projects to multi-entity joint ventures and ensuring project funds are protected via trust bank accounts. The company is not exposed to any foreign exchange risks.

Customer Risk

The majority of the company's revenue is protected via trading with multi-entity joint ventures on all large projects, which ensures that should one entity fail the other(s) would continue the project and project funds are protected via the use of aforementioned trust bank accounts. To ensure continued demand for the company's services, the company strives to deliver excellent levels of service and provide continuous innovation in services, supplied at competitive rates. The company has longstanding customer relationships that have lasted for many years.

T & M PLANT HIRE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -

Health and Safety Risk

Our business involves operating vehicles and other assets, and working in environments that can be a risk to people and property. Our primary concern is to minimise, to the extent possible, the risk of harm to people who work in our business or are affected by it. Company services and associated processes are continually assessed to ensure compliance and continuous improvement. Employees receive health and safety training on a regular basis. We also have a comprehensive suite of health and safety procedures that all new joiners must confirm they will adhere to and there is continuous ongoing training to ensure safe working practices and awareness.

Systems and Technical Risk

Failure or unavailability of a key IT system, unauthorised access or a cyber security breach could have a significant impact on operational performance, company reputation and financial performance. Controls are in place to mitigate this risk, that include continuous back-ups and ability to work remotely. The company has a disaster recovery plan in place.

Key performance indicators

The company uses two key performance indicators to assess the performance of the company, being gross profit and gross profit margin percentage.

The company's g ross p rofit has increased for the year ended 30 April 202 5: £12,967,700

(202 4: £1 1,600,447), and the g ross p rofit m argin p ercentage has increased to 2 4.77% (202 4: 23.56%).

The company continues to perform positively with a good return on investment.

Future developments

Continued investment in new vehicles to maintain the vehicle replacement programme and to service new business.

Alongside this, the company is investing in alternative and greener fuel solutions, including solar-powered site services, electric vehicle innovation and reduced-carbon fuel supply. These developments reflect both customer demand and wider Government commitments to sustainability, ensuring that the business remains aligned with future infrastructure priorities.

The company is also expanding into several regional service centres/hubs to support its continuing expansion and UK-wide projects.

The transition to the Employee Ownership Trust will provide further opportunity to strengthen employee engagement, align interests across the business and secure the long-term growth of the company.

Promoting the success of the company

The directors of the company are mindful of their duty under section 172 of the Companies Act 2006 to act in a way that promotes the success of the company for the benefit of its members as a whole. Since the transition to an Employee Ownership Trust (EOT), this means acting in the best interests of our employees collectively, whilst also considering the impact of our decisions on our customers, suppliers, partners, and the wider community.

Whenever decisions are made, the directors give careful consideration to the long-term consequences and the importance of maintaining a sustainable, successful business. Protecting the wellbeing, safety, and development of our people is central to this, as is continuing to deliver high standards of service to our clients and working in partnership with suppliers.

The company invests significantly in training and development to provide opportunities for employees to progress, contribute ideas, and take on new responsibilities. This strengthens our culture, enhances procedures, and supports innovation across the business.

T & M PLANT HIRE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -

Maintaining a reputation for integrity, quality, and safety is a priority, and the company employs its own inspectors to monitor standards, ensuring best practice in health, safety, and compliance at all times.

The directors also consider the company’s impact on the environment and the wider community when making decisions. This includes investment in fuel-efficient vehicles, electric cars, and energy-saving measures such as LED lighting and solar panels at our head office. We also encourage employee participation in community initiatives and wellbeing activities, reflecting our values of responsibility and partnership.

In line with our EOT model, the directors are committed to acting fairly between members, ensuring that the interests of all employee-owners are taken into account when making operational and strategic decisions.

On behalf of the board

Mr T J Beasley
Director
5 November 2025
T & M PLANT HIRE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -

The directors present their annual report and financial statements for the year ended 30 April 2025.

Principal activities

The principal activity of the company in the year under review was that of the provision of water and fuel bowser services to the construction industry.

Results and dividends

The results for the year are set out on page 6.

Ordinary dividends were paid amounting to £308,133. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr T J Beasley
Mrs M J Beasley
Miss H J Beasley
(Appointed 5 March 2025)
Mr L R Dicker
(Appointed 5 March 2025)
Mr P J Ellis
(Appointed 8 October 2024 and resigned 29 April 2025)
Energy and carbon report

T&M Plant Hire Limited discloses energy and carbon related data aligned to the UK Government Streamlined Energy and Carbon Reporting requirements (SECR) for the year.

The company has provided a summary of emissions from fuel combustion and the operation facilities which include the head office at Partridge Green and sites at Cambridge and Birmingham (Scope 1) and purchased electricity used during the year (Scope 2).

2025
2024
Energy consumption
kWh
kWh
Aggregate of energy consumption in the year
52,502
53,605
2025
2024
Emissions of CO2 equivalent
metric tonnes
metric tonnes
Scope 1 - direct emissions
- Fuel consumed for owned transport
2,745.39
1,837.76
Scope 2 - indirect emissions
- Electricity purchased
9.18
10.99
Total gross emissions
2,754.57
1,848.75
Intensity ratio
Tonnes CO2e per average number of employees during the year
32.03
25.33
T & M PLANT HIRE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
Quantification and reporting methodology

Scope 1 and 2 GHG emissions were calculated using the UK Government's most current conversion factors to determine equivalent tonnes of carbon dioxide (tCO2e).

Intensity measurement

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per average number of employees during the year.

Measures taken to improve energy efficiency

In December 2024 solar panels were installed at the Partridge Green head office which the directors believe will reduce carbon emissions.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr T J Beasley
Director
5 November 2025
T & M PLANT HIRE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
2025
2024
Notes
£
£
Turnover
3
52,351,628
49,239,161
Cost of sales
(39,383,928)
(37,638,714)
Gross profit
12,967,700
11,600,447
Administrative expenses
(4,950,324)
(4,234,608)
Other operating income/(expenses)
20,757
(11,333)
Operating profit
4
8,038,133
7,354,506
Interest receivable and similar income
58,518
1,445
Interest payable and similar expenses
8
(402,956)
(519,158)
Profit before taxation
7,693,695
6,836,793
Tax on profit
9
(1,938,746)
(1,704,316)
Profit for the financial year
5,754,949
5,132,477

The profit and loss account has been prepared on the basis that all operations are continuing operations.

T & M PLANT HIRE LIMITED (REGISTERED NUMBER: 03146496)
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 7 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
15,226,756
16,912,325
Current assets
Stocks
12
760,276
382,123
Debtors
13
7,922,631
12,778,677
Cash at bank and in hand
8,927,905
874,869
17,610,812
14,035,669
Creditors: amounts falling due within one year
14
(7,094,828)
(7,880,369)
Net current assets
10,515,984
6,155,300
Total assets less current liabilities
25,742,740
23,067,625
Creditors: amounts falling due after more than one year
15
(1,471,369)
(4,097,199)
Provisions for liabilities
Deferred tax liability
17
2,357,276
2,503,147
(2,357,276)
(2,503,147)
Net assets
21,914,095
16,467,279
Capital and reserves
Called up share capital
19
100
100
Profit and loss reserves
21,913,995
16,467,179
Total equity
21,914,095
16,467,279
The financial statements were approved by the board of directors and authorised for issue on 5 November 2025 and are signed on its behalf by:
Mr T J Beasley
Director
T & M PLANT HIRE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2023
100
11,506,672
11,506,772
Year ended 30 April 2024:
Profit and total comprehensive income
-
5,132,477
5,132,477
Dividends
10
-
(171,970)
(171,970)
Balance at 30 April 2024
100
16,467,179
16,467,279
Year ended 30 April 2025:
Profit and total comprehensive income
-
5,754,949
5,754,949
Dividends
10
-
(308,133)
(308,133)
Balance at 30 April 2025
100
21,913,995
21,914,095
T & M PLANT HIRE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 9 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
15,802,335
6,940,234
Interest paid
(402,956)
(519,158)
Income taxes paid
(2,507,678)
(53,789)
Net cash inflow from operating activities
12,891,701
6,367,287
Investing activities
Purchase of tangible fixed assets
(889,106)
(1,934,723)
Proceeds from disposal of tangible fixed assets
174,440
242,816
Loans made to other entities
(259,520)
-
0
Interest received
58,518
1,445
Net cash used in investing activities
(915,668)
(1,690,462)
Financing activities
Repayment of bank loans
-
0
(760,538)
Payment of finance leases obligations
(3,614,864)
(3,519,887)
Dividends paid
(308,133)
(171,970)
Net cash used in financing activities
(3,922,997)
(4,452,395)
Net increase in cash and cash equivalents
8,053,036
224,430
Cash and cash equivalents at beginning of year
874,869
650,439
Cash and cash equivalents at end of year
8,927,905
874,869
T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 10 -
1
Accounting policies
Company information

T & M Plant Hire Limited is a private company limited by shares incorporated in England and Wales. The registered office is T & M House, Star Road, Partridge Green, West Sussex, England, RH13 8RA.

1.1
Basis of preparation

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the supply of fuel, water and waste bowser services to the construction industry.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage completion of the contract when the following conditions are satisfied:

- The amount of turnover can be reliably measured

- the stage completion of the job can be measured reliably; and

- the costs incurred can be measured reliably.

1.4
Tangible fixed assets

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:

Freehold land and buildings
5% and 0% on cost
Plant and machinery
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Motor vehicles
25% and 15% on reducing balance

Freehold land is not depreciated.

T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 11 -

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Cost is calculated using the first in, first out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.8
Taxation

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

Current 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

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

D erred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

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.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 12 -
1.10
Retirement benefits

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

1.11
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
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 amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Valuation of freehold property

Freehold property is valued at fair value on the basis of directors' estimates and judgements. Valuations are made on an open market basis by reference to market evidence. A professional valuation was undertaken by Savills in March 2023 and the directors consider that their valuation of £1,900,000 is still appropriate.

T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 13 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Fuel sales
35,552,539
32,049,533
Bowser and waste services
15,920,027
16,247,379
Other sales
879,062
942,249
52,351,628
49,239,161
2025
2024
£
£
Other revenue
Interest income
58,518
1,445
Rent receivable
16,000
20,667
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of tangible fixed assets
2,369,496
2,187,261
Loss/(profit) on disposal of tangible fixed assets
30,739
(15,345)
Operating lease charges
41,078
34,667
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
19,250
17,350
For other services
All other non-audit services
5,250
-
0
6
Employees

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

2025
2024
Number
Number
86
73
T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
6
Employees
(Continued)
- 14 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
4,212,285
3,649,500
Social security costs
479,882
418,107
Pension costs
93,612
71,027
4,785,779
4,138,634
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
106,714
25,140
Company pension contributions to defined contribution schemes
2,380
380
109,094
25,520

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 5 (2024 - 2).

8
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on invoice finance arrangements
-
0
1,707
Other interest on financial liabilities
5,772
30,076
5,772
31,783
Other finance costs:
Interest on finance leases and hire purchase contracts
397,184
487,375
402,956
519,158
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
2,084,617
1,735,283
T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
9
Taxation
2025
2024
£
£
(Continued)
- 15 -
Deferred tax
Origination and reversal of timing differences
(145,871)
(30,967)
Total tax charge
1,938,746
1,704,316

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
7,693,695
6,836,793
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
1,923,424
1,709,198
Tax effect of expenses that are not deductible in determining taxable profit
2,106
1,519
Depreciation on assets not qualifying for tax allowances
3,222
3,222
Other permanent differences
(6)
377
Deferred tax adjustments in respect of prior years
10,000
-
0
Deferred tax not recognised
-
0
(10,000)
Taxation charge for the year
1,938,746
1,704,316
10
Dividends
2025
2024
£
£
Interim paid
308,133
171,970
T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 16 -
11
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 May 2024
1,900,000
422,705
134,136
23,300,719
25,757,560
Additions
-
0
102,029
48,776
738,301
889,106
Disposals
-
0
-
0
(92,821)
(569,994)
(662,815)
At 30 April 2025
1,900,000
524,734
90,091
23,469,026
25,983,851
Depreciation and impairment
At 1 May 2024
12,887
265,020
98,156
8,469,172
8,845,235
Depreciation charged in the year
12,887
53,150
12,259
2,291,200
2,369,496
Eliminated in respect of disposals
-
0
-
0
(84,026)
(373,610)
(457,636)
At 30 April 2025
25,774
318,170
26,389
10,386,762
10,757,095
Carrying amount
At 30 April 2025
1,874,226
206,564
63,702
13,082,264
15,226,756
At 30 April 2024
1,887,113
157,685
35,980
14,831,547
16,912,325

The carrying value of land and buildings comprises:

2025
2024
£
£
Freehold
1,874,226
1,887,113

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Motor vehicles
7,477,525
7,679,244

Freehold property with a carrying value of £1,874,226 (2024: £1,887,113) were revalued in March 2023 by Savills, independent valuers not connected with the company on the basis of market value. This professional valuation in March 2023 was £1,900,000. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
11
Tangible fixed assets
(Continued)
- 17 -

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Freehold property
2025
2024
£
£
Cost
1,905,268
1,905,268
Accumulated depreciation
(91,990)
(79,103)
Carrying value
1,813,278
1,826,165
12
Stocks
2025
2024
£
£
Raw materials and consumables
760,276
382,123
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
6,054,030
7,064,774
Other debtors
1,506,345
5,417,515
Prepayments and accrued income
362,256
296,388
7,922,631
12,778,677
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
16
2,593,011
3,582,045
Trade creditors
2,688,878
2,062,379
Corporation tax
1,312,222
1,735,283
Other taxation and social security
208,922
183,697
Other creditors
131,765
133,601
Accruals and deferred income
160,030
183,364
7,094,828
7,880,369
T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 18 -
15
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
16
1,471,369
4,097,199
16
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
2,593,011
3,582,045
In two to five years
1,471,369
4,097,199
4,064,380
7,679,244

Included within creditors due within one year and due in more than one year are hire purchase liabilities which are secured on the assets purchased under hire purchase agreements.

17
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
2,359,040
2,503,147
Retirement benefit obligations
(1,764)
-
2,357,276
2,503,147
2025
Movements in the year:
£
Liability at 1 May 2024
2,503,147
Credit to profit or loss
(145,871)
Liability at 30 April 2025
2,357,276
T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 19 -
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
93,612
71,027

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
40
40
40
40
Ordinary B of £1 each
40
40
40
40
Ordinary C of £1 each
10
10
10
10
Ordinary D of £1 each
10
10
10
10
100
100
100
100
20
Financial commitments, guarantees and contingent liabilities

An arrangement has been entered in to with one of the company's bankers which is secured by fixed and floating charges over the company's assets both present and future.

21
Events after the reporting date

On 17 June 2025 the ultimate controlling party changed to T & M Plant Hire (EOT) Limited as the trustee of T & M Plant Hire Employee Ownership Trust. This change in ownership has no financial effect.

22
Related party transactions

As at the balance sheet date the company was owed £1,664 (2024: £42,180) by a company which has common directors with T & M Plant Hire Limited. This balance is included in other debtors.

23
Directors' transactions

Dividends totalling £220,703 (2024 - £84,540) were paid in the year in respect of shares held by the company's directors.

At the balance sheet date, a director owed the company £259,520 (2024: £nil). This balance, which is included within other debtors, is interest free and repayable on demand.

T & M PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 20 -
24
Ultimate controlling party

During the year, the ultimate controlling party was the Beasley family by virtue of their shareholdings of 100% of the total share capital.

From 17 June 2025, the ultimate controlling party is T & M Plant Hire (EOT) Limited as trustee of T & M Plant Hire Employee Ownership Trust.

25
Cash generated from operations
2025
2024
£
£
Profit after taxation
5,754,949
5,132,477
Adjustments for:
Taxation charged
1,938,746
1,704,316
Finance costs
402,956
519,158
Investment income
(58,518)
(1,445)
Loss/(gain) on disposal of tangible fixed assets
30,739
(15,345)
Depreciation and impairment of tangible fixed assets
2,369,496
2,187,261
Movements in working capital:
Increase in stocks
(378,153)
(114,740)
Decrease/(increase) in debtors
5,115,566
(2,135,661)
Increase/(decrease) in creditors
626,554
(335,787)
Cash generated from operations
15,802,335
6,940,234
26
Analysis of changes in net funds/(debt)
1 May 2024
Cash flows
30 April 2025
£
£
£
Cash at bank and in hand
874,869
8,053,036
8,927,905
Lease liabilities
(7,679,244)
3,614,864
(4,064,380)
(6,804,375)
11,667,900
4,863,525
T & M PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF T & M PLANT HIRE LIMITED
- 21 -
Opinion

We have audited the financial statements of T & M Plant Hire Limited (the 'company') for the year ended 30 April 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

T & M PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF T & M PLANT HIRE LIMITED (CONTINUED)
- 22 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

T & M PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF T & M PLANT HIRE LIMITED (CONTINUED)
- 23 -

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Scott Jiggins (Senior Statutory Auditor)
For and on behalf of Perrys Audit Limited, Statutory Auditor
Chartered Accountants
4th Floor
399-401 Strand
London
WC2R 0LT
United Kingdom
7 November 2025
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