Classic Plant Limited

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 8

Classic Plant Limited

(Registration number: 08723879)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,369,313	2,233,639
Current assets
Debtors	5	10,226	107,423
Cash at bank and in hand		63,661	30,787
		73,887	138,210
Creditors: Amounts falling due within one year	6	(1,457,754)	(1,682,853)
Net current liabilities		(1,383,867)	(1,544,643)
Total assets less current liabilities		985,446	688,996
Creditors: Amounts falling due after more than one year	6	-	(39,886)
Provisions for liabilities		(579,939)	(556,946)
Net assets		405,507	92,164
Capital and reserves
Called up share capital		1	1
Profit and loss account		405,506	92,163
Shareholders' funds		405,507	92,164

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:
 

A Brimacombe Director

Classic Plant Limited

Notes to the Financial Statements for the Year Ended 31 March 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:
Classic Builders
Estover Close
Plymouth
Devon
PL6 7PL

Principal activity

The principal activity of the company is that of the rental of plant & machinery and groundworks.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

The financial statements are prepared in sterling which is the functional currency of the entity.

Classic Plant Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 15 December 2025 was Valerie Doyle, who signed for and on behalf of Westcotts (SW) LLP.

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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.

Classic Plant Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

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	15% reducing balance
Fittings, fixtures and equipment	25% straight line
Motor Vehicles	10% straight line or over the term of the lease

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Classic Plant Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured as the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Classic Plant Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	74,977	1,643,250	1,765,376	3,483,603
Additions	-	477,193	132,381	609,574
Disposals	-	(81,004)	(119,318)	(200,322)
At 31 March 2025	74,977	2,039,439	1,778,439	3,892,855
Depreciation
At 1 April 2024	74,215	492,648	683,101	1,249,964
Charge for the year	718	197,455	159,136	357,309
Eliminated on disposal	-	(25,851)	(57,880)	(83,731)
At 31 March 2025	74,933	664,252	784,357	1,523,542
Carrying amount
At 31 March 2025	44	1,375,187	994,082	2,369,313
At 31 March 2024	762	1,150,602	1,082,275	2,233,639

5

Debtors

	2025 £	2024 £
Trade debtors	7,212	-
Other debtors	787	36,037
Accrued income	2,227	71,386
	10,226	107,423

Classic Plant Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Loans and borrowings	36,723	106,390
Trade creditors	39,696	60,229
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,288,856	1,480,555
Taxation and social security	86,879	30,639
Accruals and deferred income	5,600	5,040
	1,457,754	1,682,853

Included within loans and borrowings is an amount of £36,723 (2024 - £106,390) which are secured by fixed and floating charge over the current and future assets of the company.

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Loans and borrowings	-	39,886

Included within loans and borrowings is an amount of £nil (2024 - £39,886) which are secured by fixed and floating charge over the current and future assets of the company.
 

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	9,356	20,592

Classic Plant Limited

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

9	Financial commitments, guarantees and contingencies

A fixed and floating charge over the current and future assets of the company was registered on 20th August 2020. The company has agreed to cross guarantee the liabilities of the bank of Classic 14 Holdings Limited and Classic Builders (South West) Limited, both group companies. The maximum full potential liability at the year end was £nil (2024: £3,993).

10	Related party transactions

Summary of transactions with all entities with joint control or significant interest

At the year end the company was owed £787 (2024 - £36,037) by companies in which the directors have control or joint control. £35,250 of this balance has been written off as bad debt in the current year.

11	Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is Classic 14 Holdings Limited, incorporated in England and Wales.

The address of Classic 14 Holdings Limited is:
Classic Builders,
Estover Close,
Estover,
Plymouth,
England,
PL6 7PL