TOULOUSE PLANT HIRE LIMITED Company accounts

COMPANY REGISTRATION NUMBER: 02545215

TOULOUSE PLANT HIRE LIMITED

Financial Statements

31 March 2025

TOULOUSE PLANT HIRE LIMITED

Financial Statements

Year ended 31st March 2025

Contents	Page

Strategic report	1

Director's report	3

Independent auditor's report to the members	5

Statement of income and retained earnings	9

Statement of financial position	10

Statement of cash flows	11

Notes to the financial statements	12

TOULOUSE PLANT HIRE LIMITED

Strategic Report

Year ended 31st March 2025

Overview The Director presents the Strategic Report for the year ended 31 March 2025. The period has been marked by a challenging trading environment, characterised by regulatory pressures, persistent cost escalation, and a highly competitive market. Despite these conditions, the Company has continued to make steady progress in strengthening operational efficiency, protecting margins, and investing in technologies that support long-term resilience and business sustainability. Market Conditions and Trading Performance Although the waste management and construction sectors experienced volatility throughout the year, several positive developments supported the Company's operational and financial performance. Positive Factors 1. Sustained Demand Throughout the Year Activity levels remained consistently strong, supported by stable inbound waste volumes, ongoing infrastructure projects across London and the South East, and long-standing customer relationships. 2. Improving Margin Potential Through rigorous cost reviews and efficiency-driven decision-making, the business has taken steps to stabilise margins. A continued focus on reliability, professional compliance, and service quality has enhanced the Company's value proposition. 3. Operational Efficiency Improvements Comprehensive internal reviews of processes, staffing structures, and site operations have identified opportunities to streamline workflow and reduce avoidable cost. These improvements are expected to yield ongoing benefits into FY 2025-26. 4. Investment in Technology The Company has advanced its adoption of technology-based solutions, including enhanced waste logistics systems, improved data capture tools, and operational monitoring technology. These investments are designed to improve decision-making accuracy, strengthen compliance, and increase productivity. 5. Reduced Staffing Levels through Natural Attrition Despite ongoing pressures in the labour market, natural staff turnover resulted in a reduced headcount without operational detriment. This contributed positively to cost control. 6. Fuel Price Stability Fuel prices remained broadly stable during the year, helping to mitigate one of the more significant areas of cost volatility experienced in prior periods. 7. Enhanced Compliance and Site Standards Continued focus on health and safety, EA compliance, and site housekeeping contributed to reduced downtime, improved operational reliability, and stronger audit readiness. Negative Factors and Market Pressures The Company continues to face several sector-wide challenges, many of which fall outside its direct control: 1. Increased Taxation Across Multiple Fronts Rising employer National Insurance, ongoing landfill tax increases, and wider tax measures have continued to place upward pressure on operating costs. 2. High Regulatory Burden and Compliance Costs Expanding environmental regulations and growing administrative expectations from regulators and customers have driven an increase in overheads. Waste classification, documentation, audits, and reporting requirements have grown in both frequency and complexity. 3. Market Shift Toward Lowest-Cost Providers The market has become increasingly price-driven, with customers showing greater willingness to switch to lower-cost providers. This industry-wide trend has impacted pricing stability and long-term customer retention. 4. Escalating Utility Costs Rising electricity, water, and facility-related costs have increased baseline operating expenditure across treatment sites. 5. Increasing Cost of Replacement Plant and Vehicles Supply chain inflation, higher manufacturing costs, and increased interest rates have significantly raised the cost of acquiring replacement machinery and vehicles. This continues to constrain capital planning. 6. Ageing Plant and Vehicle Profile The ageing fleet has contributed to higher maintenance requirements, increased downtime, and reduced operational efficiency. Replacement cycles remain a financial challenge. 7. General Inflationary Pressure's Elevated inflation across labour, materials, parts, and contracted services continues to impact margins and increase the overall cost base. 8. Tight Labour Market The recruitment and retention of skilled operators and waste-sector labour remains challenging and represents an ongoing structural risk. Outlook The Director remains cautiously optimistic for the upcoming financial year. Demand for waste processing and waste management services is expected to remain stable, supported by ongoing infrastructure and construction activity across London and the South East. The Company's strategic priorities will include: " Continued investment in technology to drive efficiency" Maintaining strong regulatory compliance and audit performance " Careful and disciplined capital expenditure planning " Strengthening customer relationships through reliability, transparency, and consistent service quality" Ongoing cost control and operational optimisation While market conditions are expected to remain competitive and cost-sensitive, the Director believes the Company is well positioned to navigate these challenges and take advantage of opportunities for sustainable growth. Conclusion The Director wishes to acknowledge the continued commitment and hard work of staff throughout the year. Despite significant economic and sector-specific headwinds, the business has remained resilient, proactive, and focused on improvement. With clear strategic priorities centred on efficiency, technology integration, cost management, and service excellence, Toulouse Plant Hire Limited enters the next financial year with a stable and well-prepared platform for future development.

This report was approved by the board of directors on 11th December 2025 and signed on behalf of the board by:

M O'Sullivan Director

TOULOUSE PLANT HIRE LIMITED

Director's Report

Year ended 31st March 2025

The director presents his report and the financial statements of the company for the year ended 31 March 2025 .

Director

The director who served the company during the year was as follows:

M O'Sullivan

Dividends

Particulars of recommended dividends are detailed in note 11 to the financial statements.

Disclosure of information in the strategic report

The business review, principal risk and uncertainties and financial instrument of the business are detailed under Strategic Report in Page 1

Director's responsibilities statement

The director is responsible for preparing the strategic report, director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is 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. He is 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.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 11 December 2025 and signed on behalf of the board by:

M O'Sullivan Director

TOULOUSE PLANT HIRE LIMITED

Independent Auditor's Report to the Members of TOULOUSE PLANT HIRE LIMITED

Year ended 31st March 2025

Opinion

We have audited the financial statements of TOULOUSE PLANT HIRE LIMITED (the 'company') for the year ended 31st March 2025 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 31st March 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 director's 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 director 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 director is responsible for the other information. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

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

- the strategic report and the director's 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 identified material misstatements in the strategic report or the director's report. 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 director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Identifying and responding to risks of material misstatement due to fraud: To identify risks of material misstatement due to fraud (fraud risks) we assessed events or conditions that could indicate and incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedure included: - Enquiring of director and key managements personnel as whether they have knowledge of any actual, suspected or alleged fraud. - Using analytical procedures to identify any unusual or unexpected relationships We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit. As required by auditing standards, we performed procedures to address the risk of management override of controls, in particular the risk of bias in accounting estimates and judgements such as impairment. On this audit we do not believe there is a fraud risk related to revenue recognition because there is no pressure on management to achieve an expected revenue target as it is an owner run business. Identifying and responding to risks of material misstatements due to non-compliance with Law and regulations: We identified areas of law and regulation that could reasonably be expected to have material effect on the financial statements from our general commercial sector experience and through our discussion with Directors. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. Firstly, the company is subject to law and regulations that directly affect the financial statements including financial reporting legislation, taxation legislation, pension legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statements items. Secondly the company is subject to many other law and regulations where the consequences of non -compliances could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines and litigations. We identified the following areas as those most likely to have such an effect; Health and Safety, GDPR, Employment Law, Environmental Protection Act 1990, Waste Resource Act, Etc. We discussed with our Audit team and director matters related to actual and suspected breaches of law and regulations, for which disclosure is not necessary and considered any implications for our audit. Our Audit procedure are designed to detected material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all law and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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.

Mohammad Saleemi

(Senior Statutory Auditor)

For and on behalf of

Saleemi Associates

Chartered accountants & statutory auditor

792 Wickham Road

Croydon CR0 8EA

11 December 2025

TOULOUSE PLANT HIRE LIMITED

Statement of Income and Retained Earnings

Year ended 31st March 2025

		2025	2024
Note		£	£
Turnover	4	9,334,266	10,258,128

Cost of sales	7,999,065	8,863,166
	------------	-------------
Gross profit	1,335,201	1,394,962

Distribution costs		16,802	18,303
Administrative expenses		1,219,634	1,251,124
		------------	------------
Operating profit	5	98,765	125,535

Interest payable and similar expenses	9	48,949	72,609
		------------	------------
Profit before taxation		49,816	52,926

Tax on profit	10	( 14,676)	26,167
		--------	--------
Profit for the financial year and total comprehensive income		64,492	26,759
		--------	--------

Dividends paid and payable	11	( 5,000)	( 30,000)

Retained earnings at the start of the year	3,239,708	3,242,949
	------------	------------
Retained earnings at the end of the year	3,299,200	3,239,708
	------------	------------

All the activities of the company are from continuing operations.

TOULOUSE PLANT HIRE LIMITED

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	12		3,341,148	3,564,239

Current assets

Stocks	13	348,669	222,090
Debtors	14	1,631,277	2,020,221
Cash at bank and in hand		314,088	483,318
		------------	------------
		2,294,034	2,725,629

Creditors: amounts falling due within one year	15	1,294,498		1,820,987
		------------		------------
Net current assets			999,536	904,642
			------------	------------
Total assets less current liabilities			4,340,684	4,468,881

Creditors: amounts falling due after more than one year	16		426,469	599,482

Provisions

Taxation including deferred tax	18	614,915	629,591
		------------	------------
Net assets		3,299,300	3,239,808
		------------	------------

Capital and reserves

Called up share capital	21	100	100
Profit and loss account		3,299,200	3,239,708
		------------	------------
Shareholders funds		3,299,300	3,239,808
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 11 December 2025 , and are signed on behalf of the board by:

M O'Sullivan
Director

Company registration number: 02545215

TOULOUSE PLANT HIRE LIMITED

Statement of Cash Flows

Year ended 31st March 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	64,492	26,759

Adjustments for:
Depreciation of tangible assets	411,505	430,006
Interest payable and similar expenses	48,949	72,609
Loss on disposal of tangible assets	8,081	43,203
Tax on profit	( 14,676)	26,167
Accrued income	( 6,456)	( 1,990)

Changes in:
Stocks	( 126,579)	20,874
Trade and other debtors	388,944	( 176,385)
Trade and other creditors	( 458,906)	253,387
	---------	---------
Cash generated from operations	315,354	694,630

Interest paid	( 48,949)	( 72,609)
	---------	---------
Net cash from operating activities	266,405	622,021
	---------	---------

Cash flows from investing activities

Purchase of tangible assets	( 229,996)	( 559,385)
Proceeds from sale of tangible assets	33,501	73,000
	---------	---------
Net cash used in investing activities	( 196,495)	( 486,385)
	---------	---------

Cash flows from financing activities

Proceeds from borrowings	( 28,838)	( 27,987)
Payments of finance lease liabilities	( 205,302)	22,184
Dividends paid	( 5,000)	( 30,000)
	---------	---------
Net cash used in financing activities	( 239,140)	( 35,803)
	---------	---------

Net (decrease)/increase in cash and cash equivalents	( 169,230)	99,833
Cash and cash equivalents at beginning of year	483,318	383,485
	---------	---------
Cash and cash equivalents at end of year	314,088	483,318
	---------	---------

TOULOUSE PLANT HIRE LIMITED

Notes to the Financial Statements

Year ended 31st March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 55 Norman Road, London, SE10 9QZ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

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

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

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and building	-	1% reducing balance
Plant and machinery	-	15% reducing balance
Equipment	-	15 % reducing balance
Commercial vehicles	-	15 % reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 at 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 as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	9,334,266	10,258,128
	------------	-------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	411,505	430,006
Loss on disposal of tangible assets	8,081	43,203
Impairment of trade debtors	9,674	20,642
Operating lease rentals	6,491	6,138
	---------	---------

6. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	7,410	5,820
	-------	-------

7. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to:

	2025	2024
	No.	No.
Number of other staff	47	50
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	1,776,709	1,875,985
Social security costs	191,253	202,908
Other pension costs	49,012	52,866
	------------	------------
	2,016,974	2,131,759
	------------	------------

8. Director's remuneration

The director's aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	39,386	40,958
Company contributions to defined contribution pension plans	1,072	1,113
	--------	--------
	40,458	42,071
	--------	--------

9. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	16,554	18,457
Interest on obligations under finance leases and hire purchase contracts	32,395	54,152
	--------	--------
	48,949	72,609
	--------	--------

10. Tax on profit

Major components of tax (income)/expense

	2025	2024
	£	£

Deferred tax:

Origination and reversal of timing differences	( 14,676)	26,167
	--------	--------
Tax on profit	( 14,676)	26,167
	--------	--------

Reconciliation of tax (income)/expense

The tax assessed on the profit on ordinary activities for the year is the same as (2024: the same as) the standard rate of corporation tax in the UK of 25 % (2024: 19 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	49,816	52,926
	--------	--------
Profit on ordinary activities by rate of tax	( 14,676)	26,167
	--------	--------

11. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2025	2024
	£	£
Dividends on equity shares	5,000	30,000
	-------	--------

12. Tangible assets

	Land and buildings	Plant and machinery	Equipment	Commercial vehicles	Total
	£	£	£	£	£
Cost
At 1st April 2024	887,165	32,587	3,836,896	3,701,822	8,458,470
Additions	–	–	26,725	203,271	229,996
Disposals	–	–	( 5,000)	( 137,000)	( 142,000)
	---------	--------	------------	------------	------------
At 31st March 2025	887,165	32,587	3,858,621	3,768,093	8,546,466
	---------	--------	------------	------------	------------
Depreciation
At 1st April 2024	59,022	9,043	2,302,225	2,523,941	4,894,231
Charge for the year	8,366	3,532	182,826	216,781	411,505
Disposals	–	–	( 750)	( 99,668)	( 100,418)
	---------	--------	------------	------------	------------
At 31st March 2025	67,388	12,575	2,484,301	2,641,054	5,205,318
	---------	--------	------------	------------	------------
Carrying amount
At 31st March 2025	819,777	20,012	1,374,320	1,127,039	3,341,148
	---------	--------	------------	------------	------------
At 31st March 2024	828,143	23,544	1,534,671	1,177,881	3,564,239
	---------	--------	------------	------------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles	Equipment	Total
	£	£	£
At 31st March 2025	( 593,723)	( 863,629)	( 1,457,352)
	---------	---------	------------
At 31st March 2024	( 578,602)	( 1,016,034)	( 1,594,636)
	---------	------------	------------

13. Stocks

	2025	2024
	£	£
Raw materials and consumables	114,951	79,416
Work in progress	233,718	142,674
	---------	---------
	348,669	222,090
	---------	---------

14. Debtors

	2025	2024
	£	£
Trade debtors	1,534,774	1,899,292
Prepayments and accrued income	66,788	91,214
Corporation tax repayable	29,715	29,715
	------------	------------
	1,631,277	2,020,221
	------------	------------

15. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	34,260	36,105
Trade creditors	798,144	1,302,470
Accruals and deferred income	43,599	50,055
Social security and other taxes	203,390	157,970
Obligations under finance leases and hire purchase contracts	205,970	270,252
Director loan accounts	9,135	4,135
	------------	------------
	1,294,498	1,820,987
	------------	------------

Bank loans and overdrafts are secured by the company by way of a fixed and floating charge on the company's assets.

16. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	195,291	227,284
Obligations under finance leases and hire purchase contracts	231,178	372,198
	---------	---------
	426,469	599,482
	---------	---------

Bank loans and overdrafts are secured by the company by way of a fixed and floating charge on the company's assets.

17. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	205,970	270,252
Later than 1 year and not later than 5 years	231,178	372,198
	---------	---------
	437,148	642,450
	---------	---------

18. Provisions

	Deferred tax (note 19)
	£
At 1st April 2024	629,591
Additions	( 14,676)
	---------
At 31st March 2025	614,915
	---------

19. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 18)	614,915	629,591
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	614,915	629,591
	---------	---------

20. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 49,012 (2024: £ 52,866 ).

21. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

22. Analysis of changes in net debt

	At 1 Apr 2024	Cash flows	At 31 Mar 2025
	£	£	£
Cash at bank and in hand	483,318	(169,230)	314,088
Debt due within one year	(310,492)	61,127	(249,365)
Debt due after one year	(599,482)	173,013	(426,469)
	---------	---------	---------
	( 426,656)	64,910	( 361,746)
	---------	---------	---------

TOULOUSE PLANT HIRE LIMITED

Notes to the Financial Statements (continued)

Year ended 31st March 2025

23. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
M O'Sullivan	( 4,135)	( 5,000)	( 9,135)
	-------	-------	-------

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
M O'Sullivan	( 135)	( 4,000)	( 4,135)
	----	-------	-------

24. Related party transactions

The company was under the control of Mr M C O'Sullivan throughout the current and previous year. Mr O'Sullivan is the managing director and majority shareholder. M & D Enterprises Limited (Company No. 05333670) is a company owned equally by the Director of the Company and his brother, each holding 50% of the share capital. The Company rents its trading premises from M & D Enterprises Limited. During the year, the Company paid rent of £60,000 (2024: £60,000) to M & D Enterprises Limited. At the balance sheet date, £220,610 (2024: £137,884) was due from M & D Enterprises Limited. This balance is presented within Debtors: amounts falling due within one year and relates to a loan advanced by the Company. The loan is unsecured, interest-free, and repayable on demand.