Registration number: 02864526

Lock Bros (Plant Hire) Limited

Statement of Financial Position as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	389,655	283,461
Current assets
Debtors	5	145,190	202,646
Cash at bank and in hand		241,430	165,504
		386,620	368,150
Creditors: Amounts falling due within one year	6	(129,125)	(111,108)
Net current assets		257,495	257,042
Total assets less current liabilities		647,150	540,503
Creditors: Amounts falling due after more than one year	6	(56,804)	(10,683)
Provisions for liabilities		(73,260)	(75,117)
Net assets		517,086	454,703
Capital and reserves
Called up share capital		100	100
Retained earnings		516,986	454,603
Shareholders' funds		517,086	454,703

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Lock Bros (Plant Hire) Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Lock Bros (Plant Hire) Limited

Statement of Financial Position as at 31 May 2025

Approved and authorised by the Board on 11 December 2025 and signed on its behalf by:
 

.........................................

S J Lock

Director

.........................................

C J Lock

Director

Company registration number: 02864526

Lock Bros (Plant Hire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Marchants Yard
Scabharbour Road
Weald
Kent
TN14 6NL

The principal activity of the company is that of plant hire and demolition contractors.

2	Accounting policies

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company had net assets at 31 May 2025 amounting to £517,086 including cash at bank of £214,430.

The company has continued to trade profitably since 31 May 2025 and the directors are confident that the current global conflicts and economic uncertainties in the UK will have no effect on the company.

On the basis of the above and having made enquires the directors have reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Turnover arising from plant hire is recognised evenly over the period of hire and other turnover derived from contract work is recognised based upon the contractual stage of completion.

Lock Bros (Plant Hire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	20% Straight Line

Finance leases and hire purchase

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.

Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.

The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Lock Bros (Plant Hire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year, was 5 (2024 - 5).

4	Tangible assets

	Plant and machinery £
Cost or valuation
At 1 June 2024	1,769,676
Additions	236,375
Disposals	(100,000)
At 31 May 2025	1,906,051
Depreciation
At 1 June 2024	1,486,215
Charge for the year	127,342
Eliminated on disposal	(97,161)
At 31 May 2025	1,516,396
Carrying amount
At 31 May 2025	389,655
At 31 May 2024	283,461

Lock Bros (Plant Hire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

5

Debtors

	2025 £	2024 £
Trade debtors	145,190	152,646
Other debtors	-	50,000
	145,190	202,646

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Loans and borrowings	7	59,859	32,619
Trade creditors		38,058	23,728
Taxation and social security		13,925	13,480
Other creditors		17,283	41,281
		129,125	111,108

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Loans and borrowings	7	56,804	10,683

7	Loans and borrowings

	2025 £	2024 £
Current loans and borrowings
Hire purchase liabilities	59,859	32,619