REGISTERED NUMBER: 04985359 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MONK PLANT HIRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K L Monk

M V Monk

SECRETARY:

Mrs K L Monk

REGISTERED OFFICE:

Saxon House

Hellesdon Park Road

Drayton High Road

Norwich

Norfolk

NR6 5DR

REGISTERED NUMBER:

04985359 (England and Wales)

ACCOUNTANTS:

MA Partners Audit LLP

7 The Close

Norwich

Norfolk

NR1 4DJ

FIXED ASSETS

Intangible assets

4

20,583

39,583

Tangible assets

5

7,984,279

7,919,883

8,004,862

7,959,466

CURRENT ASSETS

Stocks

91,284

92,808

Debtors

6

2,180,727

2,290,124

Cash at bank and in hand

18,540

394

2,290,551

2,383,326

CREDITORS

Amounts falling due within one year

7

3,166,822

4,014,830

NET CURRENT LIABILITIES

(876,271

)

(1,631,504

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,128,591

6,327,962

CREDITORS

Amounts falling due after more than one year

8

(1,625,216

)

(1,210,614

)

PROVISIONS FOR LIABILITIES

(1,421,983

)

(1,184,244

)

NET ASSETS

4,081,392

3,933,104

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

10

2,013,674

2,013,674

Retained earnings

2,067,716

1,919,428

SHAREHOLDERS' FUNDS

4,081,392

3,933,104

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

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

The directors acknowledge their responsibilities for:

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

(b)

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

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2025 and were signed on its behalf by:

M V Monk - Director

1.	STATUTORY INFORMATION

Monk Plant Hire 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 business runs its day to day operations from Six Acres, Stone Road, Dereham, NR20 3PZ.

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.

Significant judgements and estimates

The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimations and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. In this regard, the Directors believe that the critical accounting policies where judgments or estimations are necessarily applied are summarised below.

Depreciation and residual values - The Directors have reviewed the asset lives and associated residual values of all fixed asset classes, and have concluded that residual values were to be adjusted to reflect the market value of the tangible fixed assets.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

the Company has transferred the significant risks and rewards of ownership to the buyer;

the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

the amount of revenue can be measured reliably;

it is probable that the Company will receive the consideration due under the transaction; and

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract conditions are satisfied:

the amount of revenue can be measured reliably;

it is probable that the Company will receive the consideration due under the contract;

the stage of completion of the contract at the end of the reporting period can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

4% on cost

Plant and machinery etc

-

25% on reducing balance and 10% on cost

Land is not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Depreciation and residual values - The Directors have reviewed the asset lives and associated residual values of all fixed asset classes, and have concluded that residual values were to be adjusted to reflect the market value of the tangible fixed assets. The revaluation of assets was done on an open market basis either by the directors or by an independent valuer.

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 only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

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

Pension costs and other post-retirement benefits

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

Going concern

The directors are satisfied that with the continuing support of existing financiers, suppliers, employees and are confident that with the controls and processes in place the company will be able to continue to satisfy it’s financial commitments and remain in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2024 - 41 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

190,000

AMORTISATION

At 1 April 2024

150,417

Charge for year

19,000

At 31 March 2025

169,417

NET BOOK VALUE

At 31 March 2025

20,583

At 31 March 2024

39,583

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

3,190,403

9,309,622

12,500,025

Additions

110,125

1,393,733

1,503,858

Disposals

-

(277,870

)

(277,870

)

At 31 March 2025

3,300,528

10,425,485

13,726,013

DEPRECIATION

At 1 April 2024

190,403

4,389,739

4,580,142

Charge for year

26,932

1,267,544

1,294,476

Eliminated on disposal

-

(132,884

)

(132,884

)

At 31 March 2025

217,335

5,524,399

5,741,734

NET BOOK VALUE

At 31 March 2025

3,083,193

4,901,086

7,984,279

At 31 March 2024

3,000,000

4,919,883

7,919,883

Included within tangible fixed assets are items held under hire purchase agreements with a net book value of £2,806,774.

Motor vehicles £2,294,085

Plant and machinery £512,689

The land owned by the company was revalued on the 12th April 2024 by an independent valuer.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,966,906

1,992,398

Other debtors

213,821

297,726

2,180,727

2,290,124

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

72,464

349,950

Hire purchase contracts

1,181,646

844,102

Trade creditors

568,688

1,137,617

Taxation and social security

172,800

160,377

Other creditors

1,171,224

1,522,784

3,166,822

4,014,830

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

534,028

42,500

Hire purchase contracts

1,091,188

1,053,531

Other creditors

-

114,583

1,625,216

1,210,614

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

606,492

387,085

Hire purchase contracts

2,272,834

1,897,633

2,879,326

2,284,718

The bank loans are secured by a first legal charge over the company freehold property, personal guarantees from M V and Mrs K L Monk together with a first charge over freehold property owned by them, and by an unlimited debenture from the company.

The hire purchase contracts are secured on the assets financed.

The invoice discounting loans are secured on the debtors of the company.

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

2,013,674

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There was a personal guarantee from Mr Mark Monk and Mrs Kerry Monk dated 30th April 2013 for the principle amount of £475,000 plus interest in respect of borrowing from the bank.

There was a personal guarantee from Mr Mark Monk and Mrs Kerry Monk dated 4th March 2024 for the principle amount of £250,000 plus interest in respect of a funding circle loan.

12.	RELATED PARTY DISCLOSURES

During the year the company made sales of £Nil (2024:£1,683,123) and purchases of £39,807 (2024:£191,476) to MPH Concrete Limited, a company in which M Monk and K Monk are shareholders and directors. At the year end the company owed £111,981 (2024:£33,513).

During the year the company made sales of £2,223,170 (2024:£2,671,460) and purchases of £2,804,720 (2024:£2,520,432) to Norfolk Recycling Limited, a company in which M Monk and K Monk are shareholders and directors. At the year end the company was owed £129,519 (2024:£329,069)

During the year the company made sales of £1,000,353 (2024:£1,437,945) and purchases of £203,540 (2024:£888,682) to MPH Groundworks Limited, a company in which M Monk and K Monk are shareholders and directors. At the year end the company was owed £485,695 (2024:£207,422).

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors who hold the majority of the company's issued share capital.