Company registration number 04437264 (England and Wales)
ODG PLANT HIRE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 30 APRIL 2025
ODG PLANT HIRE LIMITED
COMPANY INFORMATION
Directors
D Gallagher
S O'Driscoll
Secretary
S O'Driscoll
Company number
04437264
Registered office
166 College Road
Harrow
Middlesex
HA1 1RA
Auditors
Charterhouse (Audit) Ltd
166 College Road
Harrow
Middlesex
HA1 1RA
Business address
Potters Bar Nursery
The Ridgeway
Potters Bar
Hertfordshire
EN6 5QS
ODG PLANT HIRE LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 8
Profit and loss account
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 22
ODG PLANT HIRE LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 30 APRIL 2025
- 1 -

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

Review of the business

The directors consider the financial performance for the year to be satisfactory and broadly in line with expectations. The company continues to demonstrate operational resilience and remains well-positioned to capitalise on opportunities within its markets. The board anticipates a sustained period of organic growth, supported by a disciplined approach to cost management, efficient use of working capital, and continued investment in operational capability.

Principal risk and uncertainities

The company operates within a structured risk management framework approved by the board. This framework is designed to identify, assess and manage the principal risks to the business in a timely and effective manner. The directors remain committed to maintaining a robust control environment and regularly review the appropriateness of the company’s risk mitigation strategies.

The primary areas of risk are as follows:

Liquidity risk

Liquidity risk is managed through continuous monitoring of cash flows and maintaining sufficient funding to meet operational and strategic requirements. The company seeks to balance continuity of funding with financial flexibility, supported by a prudent approach to working capital management.

Key controls in place include:

- Ongoing monitoring of trade receivables, with prompt escalation of overdue balances.

- Settlement of trade payables in accordance with agreed supplier terms to maintain strong commercial relationships.

- Loans due to and from related companies are interest free and repayable on demand, providing additional flexibility in managing short-term liquidity requirements.

The directors consider the current treasury and liquidity management arrangements to be appropriate for the size and complexity of the business.

Market risk

The company operates in an environment influenced by macroeconomic factors, including inflationary pressures and fluctuations in demand within the construction and associated services sectors. The board actively monitors market developments and maintains a comprehensive forecasting process, incorporating a rolling 12-month flexed forecast and regular scenario analysis.

Material variances in market conditions, whether arising from cost inflation, supply chain disruption or shifts in customer demand, are promptly reviewed. Any potential impact on profitability or liquidity is escalated to the board, enabling timely and proportionate remedial action.

Risk Management

The company has implemented a range of internal controls and operational procedures designed to mitigate specific operational, financial and compliance risks. These include structured governance processes, periodic internal reviews and strengthened reporting disciplines across all key functions.

The directors are satisfied that the company’s risk management arrangements are appropriate and proportionate, and that adequate policies and protocols are in place to address the principal risks facing the business.

ODG PLANT HIRE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 2 -
Key performance indicators

The key performance indicators used to determine the progress and performance of the company are set out below:

|  | 2025 | 2024
|  | £ | £
Turnover |  | 26,624,207 | 15,119,941
Gross profit |  | 5,220,787 | 3,291,045
Gross profit margin |  | 19.61% | 21.77%
Operating profit/(loss) |  | 1,025,426 | 1,066,081
Earnings before interest, tax, |  | 3,514,219 | 2,901,533
depreciation and amortisation (EBITDA) |  |  |

Turnover increased significantly to £26.62m (2024: £15.12m), reflecting sustained demand across core activities and an expanded operational footprint. This growth represents an increase of approximately 76%, underpinned by increased plant deployment and enhanced utilisation levels plus our year ending was extended by 1 month to a 13-month accounting period.

Gross profit improved to £5.22m (2024: £3.29m). Although gross margin decreased to 19.61% (2024: 21.77%), this movement reflects a change in revenue mix, increased project mobilisation costs and ongoing inflationary pressures within the wider construction sector. Nevertheless, the company delivered a resilient operating performance.

Operating profit remained broadly stable at £1.03m (2024: £1.07m), supported by the increased scale of operations and effective cost management. EBITDA strengthened to £3.51m (2024: £2.90m), demonstrating continued improvement in underlying performance.

The company’s net assets increased to £10.07m (2024: £9.53m), reflecting the overall profitability of the business and the maintenance of a strong balance sheet position.

Company outlook

The results for the year are consistent with the strategic expectations of the board and provide a solid foundation for the next phase of growth. The company continues to focus on operational efficiency, disciplined cost control and selective investment in capability and infrastructure.

Looking ahead, the directors remain confident in the company’s prospects. The secured order book, combined with ongoing efficiency initiatives, positions the business well to deliver further progress in 2026 and beyond.

Health, safety and environmental matters

Health and safety remains a core operational priority. The company maintains robust systems for compliance with statutory requirements, including risk assessments, plant inspections and ongoing competency training for employees. Routine audits and safety reviews are conducted across depot, workshop and site activities. The company invests in modern, fuel-efficient plant/equipment and practices, alongside initiatives aimed at reducing emissions and improving overall environmental performance across its fleet and operational processes.

Post balance sheet event

On 30 May 2025, the company became part of the group with the entire share capital owned by Galldris Holdings Limited, the ultimate parent company. The parent company's entire share capital was sold to an Employee Ownership Trust (EOT) which is solely for the benefit of all eligible employees.

ODG PLANT HIRE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 3 -

On behalf of the board

D Gallagher
Director
26 January 2026
ODG PLANT HIRE LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 APRIL 2025
- 4 -

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

Principal activities

The principal activity of the company during the year continued to be the provision of plant and machinery hire to the construction industry, including associated services such as skip hire, waste management, disposal and recycling. The company operates across a broad customer base and remains focused on delivering reliable, compliant and cost-effective solutions to support construction and infrastructure projects.

Results and dividends

The results for the financial period are presented in the accompanying financial statements.

No ordinary dividends were declared or paid during the year. The directors do not recommend the payment of a final dividend, as profits are being retained to support future investment and the ongoing development of the business.

Directors

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

D Gallagher
S O'Driscoll
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; 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 auditors

Each 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 auditors are unaware. Each director has taken all the steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to ensure that the company’s auditors are aware of that information

Going concern

The directors have assessed the financial position of the company, including cash resources, working capital forecasts and committed banking arrangements. Based on this review, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

ODG PLANT HIRE LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 5 -
On behalf of the board
D Gallagher
Director
26 January 2026
ODG PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ODG PLANT HIRE LIMITED
- 6 -
Opinion

We have audited the financial statements of ODG Plant Hire Limited (the 'company') for the period ended 30 April 2025 which comprise the profit and loss account, 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 period 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.

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 period 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.

ODG PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ODG PLANT HIRE LIMITED
- 7 -
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.

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.

The extent to which the audit was considered capable of detacting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the client partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify and recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors, key management personnel and from our commercial knowledge and experience of the IT sector.

- we focused on specific laws and regulations which we considered may have a direct effect on the financial statements or the operations of the company including the Companies Act 2006, current taxation legislation, data protection, anti-bribery and money laundering, employment and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management;

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by;

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

ODG PLANT HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ODG PLANT HIRE LIMITED
- 8 -

To address the risk of fraud through management bias and override of controls we have;

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the any accounting estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statements disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, enquiring of management over health and safety.

There are inherent limitations in our audit procedures described above. Auditing standards also limit the audit procedures required to identifying non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

.....................................................................................
28 January 2026
Nirav Sheth (Senior Statutory Auditor)
For and on behalf of Charterhouse (Audit) Limited
Statutory Auditor
Charterhouse (Audit) Limited
166 College Road
Harrow
Middlesex
HA1 1RA
ODG PLANT HIRE LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 30 APRIL 2025
- 9 -
Period
Year
ended
ended
30 April
31 March
2025
2024
Notes
£
£
Turnover
2
26,624,207
15,119,941
Cost of sales
(21,403,420)
(11,828,896)
Gross profit
5,220,787
3,291,045
Administrative expenses
(4,213,216)
(2,228,800)
Other operating income
17,855
3,836
Operating profit
3
1,025,426
1,066,081
Interest receivable and similar income
5
22,347
15,082
Interest payable and similar expenses
6
(318,888)
(237,727)
Profit before taxation
728,885
843,436
Tax on profit
7
(188,951)
(632,432)
Profit for the financial period
539,934
211,004

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

ODG PLANT HIRE LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 10 -
30 April 2025
31 March 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
8
13,467,313
10,336,271
Current assets
Debtors
9
7,754,602
12,014,568
Cash at bank and in hand
1,217,657
1,153,299
8,972,259
13,167,867
Creditors: amounts falling due within one year
10
(8,340,527)
(11,511,567)
Net current assets
631,732
1,656,300
Total assets less current liabilities
14,099,045
11,992,571
Creditors: amounts falling due after more than one year
11
(2,846,402)
(1,468,814)
Provisions for liabilities
Deferred tax liability
13
1,179,481
990,530
(1,179,481)
(990,530)
Net assets
10,073,162
9,533,227
Capital and reserves
Called up share capital
14
2
2
Profit and loss reserves
10,073,160
9,533,225
Total equity
10,073,162
9,533,227

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 26 January 2026 and are signed on its behalf by:
D Gallagher
Director
Company registration number 04437264 (England and Wales)
ODG PLANT HIRE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2025
- 11 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2023
2
9,322,221
9,322,223
Year ended 31 March 2024:
Profit and total comprehensive income
-
211,004
211,004
Balance at 31 March 2024
2
9,533,225
9,533,227
Period ended 30 April 2025:
Profit and total comprehensive income
-
539,935
539,935
Balance at 30 April 2025
2
10,073,160
10,073,162
ODG PLANT HIRE LIMITED
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 APRIL 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
20
4,333,912
4,884,681
Interest paid
(318,888)
(237,727)
Net cash inflow from operating activities
4,015,024
4,646,954
Investing activities
Purchase of tangible fixed assets
(1,054,109)
(27,775)
Proceeds from disposal of tangible fixed assets
643,589
626,134
Interest received
22,347
15,082
Net cash (used in)/generated from investing activities
(388,173)
613,441
Financing activities
Payment of finance leases obligations
(3,562,493)
(4,609,472)
Net cash used in financing activities
(3,562,493)
(4,609,472)
Net increase in cash and cash equivalents
64,358
650,923
Cash and cash equivalents at beginning of period
1,153,299
502,376
Cash and cash equivalents at end of period
1,217,657
1,153,299
ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2025
- 13 -
1
Accounting policies
Company information

ODG Plant Hire Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Reporting period

The financial statement was prepared for 13 months from 1 April 2024 to 30 April 2025. This financial statement had been prepared for a period longer than one year due to the company becoming part of a group as part of the restructure. Therefore, as a result, the comparative amounts in the financial statement (including related notes) are not entirely comparable.

1.2
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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
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.

1.4
Revenue

Turnover is recognised at the fair value of the consideration received for renting out plant and machinery in the normal course of business, and is shown net of VAT and other sales related taxes.

1.5
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
2% straight line
Plant and machinery
20% straight line
Fixtures, fittings & equipment
25% straight line
Motor vehicles
25% straight line

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.

ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 14 -
1.6
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 in the company's balance sheet 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

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, loans from associated companies are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. 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.

ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 15 -

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred 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
Leases

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 over the lease term.

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.

2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by geographical market
Sales - UK
26,624,207
15,119,941
2025
2024
£
£
Other revenue
Interest income
22,347
15,082
3
Operating profit
2025
2024
Operating profit for the period is stated after charging/(crediting):
£
£
Fees payable to the company's auditors for the audit of the company's financial statements
20,000
20,000
Depreciation of tangible fixed assets
112,093
1,835,452
Depreciation of leased assets
2,376,700
-
0
Profit on disposal of tangible fixed assets
(249,090)
(308,079)
Operating lease charges
1,674,183
523,350
ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 16 -
4
Employees

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

2025
2024
Number
Number
7
7

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
701,221
406,949
5
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
22,347
15,082
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
22,347
15,082
6
Interest payable and similar expenses
2025
2024
£
£
Other finance costs
Interest on finance leases and hire purchase contracts
314,114
237,727
Other interest
4,774
-
0
318,888
237,727
7
Taxation
2025
2024
£
£
Current tax
Adjustments in respect of prior periods
-
0
73,976
ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
7
Taxation
2025
2024
£
£
(Continued)
- 17 -
Deferred tax
Origination and reversal of timing differences
188,951
558,456
Total tax charge
188,951
632,432

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

2025
2024
£
£
Profit before taxation
728,885
843,436
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
182,221
210,859
Tax effect of expenses that are not deductible in determining taxable profit
(47,944)
(77,020)
Unutilised tax losses carried forward
163,136
176,707
Adjustments in respect of prior years
-
0
73,976
Permanent capital allowances in excess of depreciation
(742,904)
(597,215)
Depreciation on assets not qualifying for tax allowances
622,198
458,863
Other non-reversing timing differences
188,951
558,456
Unutilised tax losses brought forward
(176,707)
(172,194)
Taxation charge for the period
188,951
632,432
ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 18 -
8
Tangible fixed assets
Leasehold improvements
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
473,847
14,522,253
1,232
1,893,446
16,890,778
Additions
-
0
4,666,840
-
0
1,347,494
6,014,334
Disposals
-
0
(1,626,562)
-
0
(11,955)
(1,638,517)
At 30 April 2025
473,847
17,562,531
1,232
3,228,985
21,266,595
Depreciation and impairment
At 1 April 2024
76,936
5,779,268
1,232
697,071
6,554,507
Depreciation charged in the period
10,267
2,063,387
-
0
415,139
2,488,793
Eliminated in respect of disposals
-
0
(1,234,454)
-
0
(9,564)
(1,244,018)
At 30 April 2025
87,203
6,608,201
1,232
1,102,646
7,799,282
Carrying amount
At 30 April 2025
386,644
10,954,330
-
0
2,126,339
13,467,313
At 31 March 2024
396,911
8,742,985
-
0
1,196,375
10,336,271

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2025
2024
£
£
Plant and machinery
8,737,319
7,632,756
Motor vehicles
1,494,936
1,035,513
10,232,255
8,668,269
9
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
422,056
46,192
Amounts due from companies under common control
7,329,937
11,966,536
Other debtors
2,609
-
0
Prepayments and accrued income
-
0
1,840
7,754,602
12,014,568

The amounts due from companies under common control are unsecured, interest-free and repayable on demand.

ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 19 -
10
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
12
2,954,344
2,934,201
Trade creditors
5,367,850
4,107,520
Amounts due to companies under common control
-
0
4,423,454
Other taxation and social security
-
0
26,392
Accruals and deferred income
18,333
20,000
8,340,527
11,511,567

The amounts due to companies under common control are unsecured, interest free and payable on demand.

11
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
12
2,846,402
1,468,814
12
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
2,954,344
2,934,201
Between two and five years
2,846,402
1,468,814
5,800,746
4,403,015
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
2,954,344
2,934,201
In two to five years
2,846,402
1,468,814
5,800,746
4,403,015

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 20 -
13
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
1,179,481
990,530
2025
Movements in the period:
£
Liability at 1 April 2024
990,530
Charge to profit or loss
188,951
Liability at 30 April 2025
1,179,481

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

14
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
2
2
2
2
15
Financial commitments, guarantees and contingent liabilities

Galldris Construction Limited and its parent company, Galldris Services Limited, have provided guarantees in respect of hire purchase facilities of the company. As at 30 April 2025, the outstanding guaranteed hire purchase liability amounted to £5,800,746 (2024: £4,403,016).

16
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
1,043,652
216,000
Between two and five years
450,846
216,000
1,494,498
432,000
ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 21 -
17
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties:

During the period the company paid rent of £1,674,183 (20 24: 523,350) to Galldris Services Limited, a company controlled by the directors, in respect of premises occupied by the company. The transaction s were made on normal commercial terms.

During the period the company supplied plant on hire totalling £26,624,207 (2024: £15,119,941) to Galldris Services Limited and was provided with labour amounting to £207,444 (2024: £652,235) from 3G Tunnelling Services Limited, companies controlled by the directors. The transactions were made on normal commercial terms.

Included in debtors falling due within one year is a balance of £7,329,937 (2024: £11,966,536) due fr om Galldris Services Limited, as at the balance sheet date.

Included in creditors falling due within one year is a balance of £nil (2024: £4,423,454) owed to 3G Tunnelling Services Limited, as at the balance sheet date.

18
Ultimate controlling party

As at the balance sheet date, the ultimate controlling parties are S O’Driscoll and D Gallagher with no one party having an overall control.

From 30 May 2025, the ultimate controlling party is GHL Trustee Limited, acting as a trustee of an Employee Ownership Trust (EOT) which is solely for the benefit of all eligible employees.

19
Post balance sheet events

On 30 May 2025, the company became part of the group with the entire share capital owned by Galldris Holdings Limited, the ultimate parent company. The parent company's entire share capital was sold to an Employee Ownership Trust (EOT) which is solely for the benefit of all eligible employees.

20
Cash generated from operations
2025
2024
£
£
Profit after taxation
539,934
211,004
Adjustments for:
Taxation charged
188,951
632,432
Finance costs
318,888
237,727
Investment income
(22,347)
(15,082)
Gain on disposal of tangible fixed assets
(249,090)
(308,079)
Depreciation and impairment of tangible fixed assets
2,488,793
1,835,452
Movements in working capital:
Decrease/(increase) in debtors
4,259,966
(718,452)
(Decrease)/increase in creditors
(3,191,183)
3,009,679
Cash generated from operations
4,333,912
4,884,681
ODG PLANT HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2025
- 22 -
21
Analysis of changes in net debt
1 April 2024
Cash flows
New leases
30 April 2025
£
£
£
£
Cash at bank and in hand
1,153,299
64,358
-
1,217,657
Lease liabilities
(4,403,015)
3,562,493
(4,960,224)
(5,800,746)
(3,249,716)
3,626,851
(4,960,224)
(4,583,089)
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