REGISTERED NUMBER: 08903290 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

M & G PLANT AND TOOL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G D Phelps

M J Phelps

REGISTERED OFFICE:

57 Bulwark Road

Bulwark

Chepstow

Monmouthshire

NP16 5JW

REGISTERED NUMBER:

08903290 (England and Wales)

ACCOUNTANTS:

Gravita

Chartered Accountants

Kestrel Court

Harbour Road

Portishead

Bristol

BS20 7AN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,995,081

1,834,934

1,995,081

1,834,934

CURRENT ASSETS

Stocks

2,500

2,500

Debtors

6

408,086

299,132

Cash at bank

904,658

989,152

1,315,244

1,290,784

CREDITORS

Amounts falling due within one year

7

(592,609

)

(734,726

)

NET CURRENT ASSETS

722,635

556,058

TOTAL ASSETS LESS CURRENT LIABILITIES

2,717,716

2,390,992

CREDITORS

Amounts falling due after more than one year

8

(217,215

)

(217,716

)

PROVISIONS FOR LIABILITIES

(477,165

)

(443,004

)

NET ASSETS

2,023,336

1,730,272

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,023,236

1,730,172

SHAREHOLDERS' FUNDS

2,023,336

1,730,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

G D Phelps - Director

M J Phelps - Director

1.	COMPANY INFORMATION

M & G Plant And Tool Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover

Turnover represents net invoiced sales in respect of machinery hire, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is fully amortised,

having been amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are fully amortised, having been amortised evenly over their estimated useful life of one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are stated at the lower of cost and net realisable value. 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.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

260,000

1

260,001

AMORTISATION

At 1 April 2024

and 31 March 2025

260,000

1

260,001

NET BOOK VALUE

At 31 March 2025

-

-

-

At 31 March 2024

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

3,640,730

-

275,666

8,699

3,925,095

Additions

795,414

1,008

34,706

1,903

833,031

Disposals

(336,494

)

-

(74,250

)

-

(410,744

)

Transfer to ownership

-

-

(1

)

-

(1

)

At 31 March 2025

4,099,650

1,008

236,121

10,602

4,347,381

DEPRECIATION

At 1 April 2024

1,917,392

-

165,260

7,509

2,090,161

Charge for year

466,854

252

29,324

915

497,345

Eliminated on disposal

(177,028

)

-

(58,178

)

-

(235,206

)

At 31 March 2025

2,207,218

252

136,406

8,424

2,352,300

NET BOOK VALUE

At 31 March 2025

1,892,432

756

99,715

2,178

1,995,081

At 31 March 2024

1,723,338

-

110,406

1,190

1,834,934

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

1,630,250

31,552

1,661,802

Additions

464,442

34,706

499,148

Disposals

(135,750

)

-

(135,750

)

Transfer to ownership

(898,550

)

(52

)

(898,602

)

At 31 March 2025

1,060,392

66,206

1,126,598

DEPRECIATION

At 1 April 2024

205,373

18,364

223,737

Charge for year

176,986

14,583

191,569

Eliminated on disposal

(48,870

)

-

(48,870

)

Transfer to ownership

18,959

(10,489

)

8,470

At 31 March 2025

352,448

22,458

374,906

NET BOOK VALUE

At 31 March 2025

707,944

43,748

751,692

At 31 March 2024

1,424,877

13,188

1,438,065

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

292,294

192,931

Other debtors

95,528

95,471

Amounts owed to related

undertakings

530

530

Prepayments

19,734

10,200

408,086

299,132

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,419

10,160

Hire purchase contracts

286,613

336,217

Trade creditors

82,926

27,860

Tax

74,422

119,325

Social security and other taxes

-

2,287

VAT

37,768

105,924

Credit card

957

3,414

Pension

196

162

Directors' current accounts

61,738

74,994

Accrued expenses

37,570

54,383

592,609

734,726

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

3,536

13,955

Hire purchase contracts

213,679

203,761

217,215

217,716

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

500,292

539,978

Borrowings under hire purchase contracts are secured on the individual assets to which they relate.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is G D Phelps.