REGISTERED NUMBER: 05185169 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

GRASSFORM PLANT HIRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Dunning

M J Dunning

REGISTERED OFFICE:

Little Woodbarns Farm

Green Street

Ingatestone

Essex

CM4 0NT

REGISTERED NUMBER:

05185169 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor, 55 Ludgate Hill

London

EC4M 7JW

FIXED ASSETS

Tangible assets

4

8,845,300

7,026,064

CURRENT ASSETS

Stocks

41,598

33,351

Debtors

5

4,442,438

1,871,752

Cash at bank

796,530

123,896

5,280,566

2,028,999

CREDITORS

Amounts falling due within one year

6

(3,016,521

)

(1,731,173

)

NET CURRENT ASSETS

2,264,045

297,826

TOTAL ASSETS LESS CURRENT LIABILITIES

11,109,345

7,323,890

CREDITORS

Amounts falling due after more than one year

7

(1,473,454

)

(693,669

)

DEFERRED TAX

(2,165,669

)

(1,529,887

)

NET ASSETS

7,470,222

5,100,334

CAPITAL AND RESERVES

Called up share capital

9

75

75

Capital redemption reserve

25

25

Retained earnings

7,470,122

5,100,234

SHAREHOLDERS' FUNDS

7,470,222

5,100,334

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 11 November 2025 and were signed on its behalf by:

M J Dunning - Director

1.	STATUTORY INFORMATION

Grassform Plant Hire Limited is a private company limited by shares incorporated in England and Wales. The registered office is Little Woodbarns Farm, Green Street, Ingatestone, Essex, UK, CM4 0NT.

The company provides temporary access solutions, including ground protection systems and temporary roadways, serving sectors such as construction, events, and infrastructure across the UK.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts 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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

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

Plant and equipment - 10%-25% Reducing Balance

Machinery - 5% Reducing Balance

Motor vehicles - 25% Reducing Balance

Office Equipment - 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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

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

Hire purchase agreements are treated as finance leases where the company assumes substantially all risks and rewards of ownership. The asset is recognised at the lower of fair value or the present value of minimum lease payments, with a corresponding liability.

The asset is depreciated over its useful life or the lease term, whichever is shorter. Lease payments are apportioned between finance charges and reduction of the liability using the effective interest method.

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 in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs

Finance costs are recognised in profit or loss using the effective interest method, which allocates the cost over the term of the debt at a constant rate on the carrying amount. Transaction costs incurred in issuing debt instruments are deducted from the proceeds and included in the calculation of the effective interest rate.

Dividends

Dividends are declared and paid out of distributable profits, and are recognised when they become legally payable.

3.

EMPLOYEES

The average number of employees during the year was 57 (2024 - 47 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

equipment

Machinery

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 March 2024

11,990,308

60,168

433,346

51,565

12,535,387

Additions

3,648,189

43,640

93,443

7,119

3,792,391

Disposals

(679,070

)

(2,435

)

(23,099

)

-

(704,604

)

At 28 February 2025

14,959,427

101,373

503,690

58,684

15,623,174

Depreciation

At 1 March 2024

5,305,311

16,744

147,098

40,170

5,509,323

Charge for year

1,695,191

3,637

78,791

4,627

1,782,246

Eliminated on disposal

(496,040

)

(1,814

)

(15,841

)

-

(513,695

)

At 28 February 2025

6,504,462

18,567

210,048

44,797

6,777,874

Net book value

At 28 February 2025

8,454,965

82,806

293,642

13,887

8,845,300

At 29 February 2024

6,684,997

43,424

286,248

11,395

7,026,064

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,938,021

1,579,021

Other debtors

1,943,121

275,895

Corporation tax recoverable

561,296

16,836

4,442,438

1,871,752

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

839,073

421,644

Corporation tax

696,845

209,379

Social security and other taxes

235,103

138,005

Other creditors

1,171,405

822,070

Bank loans and overdrafts

74,095

140,075

3,016,521

1,731,173

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

1,440,120

586,240

Bank loans and overdrafts

33,334

107,429

1,473,454

693,669

A fixed and floating charge dated 30 September 2020 in the name of National Westminster bank is currently held over all the property and undertaking of the company. The relating loan is included within bank loans and overdrafts.

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

170,042

138,500

Between one and five years

214,458

333,708

384,500

472,208

On 18 August 2025, the Company agreed revised terms for its lease of Little Woodbarns Farm. As a result, future operating lease commitments after the reporting date have changed to:

£188,792 due within one year

£230,083 due between one and five years

These changes occurred after the reporting date and do not affect the amounts disclosed in the financial statements as at 28 February 2025.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

300

Ordinary

0.25

75

75

10.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £76,315 (2024: £57,998).

Contributions totalling £9,824 (2024: £7,818) were payable to the fund at the reporting date and are included in other creditors.

11.	RELATED PARTY DISCLOSURES

During the year, the Company paid recharged utility costs of £33,457 (2024: £37,518) and rent of £66,000 (2024: £62,000) to a company under common ownership.

At the year end, the Company was owed £165,623 (2024: £166,980) from a company with common ownership. This balance is included within other debtors.

12.	ULTIMATE CONTROLLING PARTY

The company is owned directly by Mark Dunning, Simon Dunning, and Suzanne Dunning.

13.	DIRECTORS' TRANSACTIONS

At the balance sheet date, the directors owed the Company £1,686,272 (2024: £23,175).