Registration number:
M Plant Hire Ltd
for the
Year Ended 31 January 2026
M Plant Hire Ltd
Contents
|
Company Information |
|
|
Directors' Report |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
M Plant Hire Ltd
Company Information
|
Directors |
Mr Paul John Morgan Mr Steven Mark Morgan Mr Matthew John Morgan |
|
Registered office |
|
|
Accountants |
|
M Plant Hire Ltd
Directors' Report
for the Year Ended 31 January 2026
The directors present their report and the financial statements for the year ended 31 January 2026.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is Renting and leasing of construction and civil engineering machinery and equipment
Going concern
The financial statements have been prepared on a going concern basis despite the net liabilities position due to the continued support of the directors and related parties.
Statement of directors responsibilities
The directors acknowledge their responsibilities 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 apply them consistently; |
|
• |
make judgements 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 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.
M Plant Hire Ltd
Directors' Report
for the Year Ended 31 January 2026
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Fair review of the business
The Directors have prepared this report in support of the Annual Accounts to provide an update on the company’s performance and future prospects.
M Plant Hire Ltd has moved into profitability following the initial costs and trading losses associated with establishing the business, which commenced trading in August 2023. The Directors are pleased with the progress made in developing its customer base and expanding its services.
Although the company is now profitable, accumulated losses mean that it continues to report net liabilities at the balance sheet date. The Directors expect future retained profits to eliminate this deficit over the next one to two years, depending on the pace of growth and profitability achieved.
New contracts have been secured with national companies for both plant hire and workshop services. These contracts provide a stronger foundation for future trading, with significant growth expected in 2027.
The company also opened an MOT bay in 2026, which has seen rapid uptake locally. The Directors attribute this demand to the quality of service provided and limited local competition serving larger commercial vehicles. This complements the company’s existing HGV inspection, repair and maintenance services.
The business continues to benefit from a settled and committed management team and shared Head Office functions with Morgan Construction Wales Ltd. Work from associated companies, alongside the expanding external customer base, supports the continued development of the business.
The Directors remain optimistic about the company’s prospects. Their focus is on delivering the new contracts, developing the MOT and workshop services and ensuring that growth translates into sustained profitability, improved cash flow and a stronger balance sheet.
Approved and authorised by the
|
......................................... |
M Plant Hire Ltd
(Registration number: 14587479)
Balance Sheet as at 31 January 2026
|
Note |
31 January |
31 January |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
( |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net liabilities |
( |
( |
|
|
Capital and reserves |
|||
|
Called up share capital |
100 |
100 |
|
|
Retained earnings |
(196,297) |
(218,723) |
|
|
Shareholders' deficit |
(196,197) |
(218,623) |
For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
M Plant Hire Ltd
(Registration number: 14587479)
Balance Sheet as at 31 January 2026
Approved and authorised by the
|
......................................... |
M Plant Hire Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
|
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis despite the net liabilities position due to the continued support of the directors and related parties.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
M Plant Hire Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Other tangible assets |
12.5% reducing balance |
|
Motor Vehicles |
15% reducing balance |
|
Land and buildings |
2% on cost |
|
Furniture, fittings and equipment |
15% reducing balance |
|
Computer equipment |
33.3% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
M Plant Hire Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
M Plant Hire Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
M Plant Hire Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
|
|
Cost or valuation |
|||||
|
At 1 February 2025 |
|
|
|
|
|
|
Additions |
- |
- |
- |
|
|
|
Disposals |
- |
- |
- |
( |
( |
|
At 31 January 2026 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 February 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
( |
|
At 31 January 2026 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 January 2026 |
|
|
|
|
|
|
At 31 January 2025 |
|
|
|
|
|
M Plant Hire Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
Included within the net book value of land and buildings above is £50,741 (2025 - £61,894) in respect of long leasehold land and buildings.
M Plant Hire Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
|
Stocks |
|
31 January |
31 January |
|
|
Other inventories |
|
|
|
Debtors |
|
Current |
31 January |
31 January |
|
Trade debtors |
|
|
|
Prepayments |
- |
|
|
Other debtors |
|
|
|
|
|
M Plant Hire Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
31 January |
31 January |
|
|
Due within one year |
|||
|
Bank loans and overdrafts |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts owed to/by related parties |
|
|
|
|
Taxation and social security |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Other creditors |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
Note |
31 January |
31 January |
|
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
31 January |
31 January |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
Loans and borrowings |
Non-current loans and borrowings
M Plant Hire Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2026
|
31 January |
31 January |
|
|
Hire purchase contracts |
|
|
|
Other borrowings |
|
|
|
|
|
|
Current loans and borrowings
|
31 January |
31 January |
|
|
Hire purchase contracts |
|
|
|
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
- |
|