REGISTERED NUMBER: 01252387 (England and Wales)

EXUMA PLANT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

8

DIRECTORS:

D Allen

P V Allen

J Allen

REGISTERED OFFICE:

Dock Road

The Docks

Port Talbot

Glamorgan

SA13 1RS

REGISTERED NUMBER:

01252387 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

FIXED ASSETS

Tangible assets

4

775,329

624,443

CURRENT ASSETS

Stocks

8,000

8,000

Debtors

5

78,764

93,130

Cash at bank

32,914

32,123

119,678

133,253

CREDITORS

Amounts falling due within one year

6

308,775

263,149

NET CURRENT LIABILITIES

(189,097

)

(129,896

)

TOTAL ASSETS LESS CURRENT LIABILITIES

586,232

494,547

CREDITORS

Amounts falling due after more than one year

7

(218,729

)

(161,620

)

PROVISIONS FOR LIABILITIES

(115,942

)

(93,616

)

NET ASSETS

251,561

239,311

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

246,561

234,311

SHAREHOLDERS' FUNDS

251,561

239,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

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

(b)

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

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

J Allen - Director

1.	STATUTORY INFORMATION

Exuma Plant Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the customer simultaneously receives and consumes the benefit.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and Machinery

-

25% reducing balance

Fixtures and fittings

-

25% reducing balance

Motor vehicles

-

25% reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. Indication of impairment is reviewed annually and an impairment review is undertaken where there is an indication of impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial I instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position 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 trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

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

Pension costs and other post-retirement benefits

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

Cash at bank and cash in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

Provision for liabilities

Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Going Concern

The company continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

Machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 March 2024

153,420

1,199,822

12,241

47,137

1,412,620

Additions

-

324,754

-

-

324,754

Disposals

-

(139,290

)

-

(1,000

)

(140,290

)

At 28 February 2025

153,420

1,385,286

12,241

46,137

1,597,084

DEPRECIATION

At 1 March 2024

32,731

718,391

9,701

27,354

788,177

Charge for year

3,068

147,855

635

4,947

156,505

Eliminated on disposal

-

(122,060

)

-

(867

)

(122,927

)

At 28 February 2025

35,799

744,186

10,336

31,434

821,755

NET BOOK VALUE

At 28 February 2025

117,621

641,100

1,905

14,703

775,329

At 29 February 2024

120,689

481,431

2,540

19,783

624,443

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

Plant and

Motor

Machinery

vehicles

Totals

£

£

£

COST

At 1 March 2024

670,100

19,000

689,100

Additions

323,917

-

323,917

Transfer to ownership

(249,000

)

(19,000

)

(268,000

)

At 28 February 2025

745,017

-

745,017

DEPRECIATION

At 1 March 2024

290,258

10,984

301,242

Charge for year

130,321

2,004

132,325

Transfer to ownership

(203,867

)

(12,988

)

(216,855

)

At 28 February 2025

216,712

-

216,712

NET BOOK VALUE

At 28 February 2025

528,305

-

528,305

At 29 February 2024

379,842

8,016

387,858

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

64,245

73,958

VAT

-

7,340

Prepayments

14,519

11,832

78,764

93,130

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

91,110

90,998

Hire purchase contracts

144,944

80,822

Trade creditors

24,675

38,425

Taxation and social security

20,819

17,233

Other creditors

27,227

35,671

308,775

263,149

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

24,131

34,530

Hire purchase contracts

179,640

106,475

Other creditors

14,958

20,615

218,729

161,620

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

80,881

80,937

Hire purchase contracts

324,584

187,297

405,465

268,234

Standard debenture dated 26th September 1986, and a personal guarantee given by the directors.

Charge over Freehold land and premises dated 28th June 2013.

Hire purchase balances are secured against the asset they relate.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2025 and 29 February 2024:

2025

2024

£

£

D Allen and P V Allen

Balance outstanding at start of year

-

-

Amounts advanced

56,479

16,020

Amounts repaid

(57,000

)

(16,020

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(521

)

-

J Allen

Balance outstanding at start of year

-

-

Amounts advanced

21,841

41,173

Amounts repaid

(22,000

)

(41,173

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(159

)

-

These amounts are included within creditors due within one year and are interest free and repayable on demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Exuma Plant Limited for the year ended 28 February 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Exuma Plant Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Exuma Plant Limited and state those matters that we have agreed to state to the Board of Directors of Exuma Plant Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Exuma Plant Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Exuma Plant Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Exuma Plant Limited. You consider that Exuma Plant Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Exuma Plant Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bevan Buckland LLP

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

25 November 2025