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Registered number: 08347661
ROAD RAIL CRANES LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
PM+M Solutions for Business LLP
Chartered Accountants
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
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PAGE 1
ROAD RAIL CRANES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2014
The directors present their report and the financial statements for the year ended 31 December 2014.
DIRECTORS' RESPONSIBILITIES STATEMENT
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The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
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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:
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·select suitable accounting policies and then apply them consistently;
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·make judgments and accounting estimates that are reasonable and prudent;
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·prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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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.
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The principal activity is the provision of a cost effective range of mobile cranes that are capable of working on the Network Rail Infrastructure.
The company has experienced considerable turnover and profit growth during the year and further substantial contracts since the year end indicate that this growth and the commensurate increase in profitability will continue. It is the intention of the directors to acquire further mobile cranes during the course of 2015 to support this growth.
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The directors who served during the year were:
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I Cross (appointed 1 September 2014)
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In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
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PAGE 2
ROAD RAIL CRANES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2014
This report was approved by the board on 13 February 2015 and signed on its behalf.
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PAGE 3
ROAD RAIL CRANES LIMITED
The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 4 to 8) have been prepared.
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ROAD RAIL CRANES LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Road Rail Cranes Limited for the year ended 31 December 2014 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a 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 at icaew.com/regulations.
This report is made solely to the Board of directors of Road Rail Cranes Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Road Rail Cranes Limited and state those matters that we have agreed to state to the Board of directors of Road Rail Cranes Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Road Rail Cranes Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Road Rail Cranes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and profit. You consider that Road Rail Cranes Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Road Rail Cranes 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.
PM+M Solutions for Business LLP
Chartered Accountants
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
13 February 2015
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PAGE 4
ROAD RAIL CRANES LIMITED
REGISTERED NUMBER: 08347661
ABBREVIATED BALANCE SHEET
AS AT 31 DECEMBER 2014
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CREDITORS: amounts falling due within one year
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NET CURRENT (LIABILITIES)/ASSETS
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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PROVISIONS FOR LIABILITIES
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SHAREHOLDERS' FUNDS/(DEFICIT)
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2014 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
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PAGE 5
ROAD RAIL CRANES LIMITED
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 DECEMBER 2014
The abbreviated accounts, which 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, were approved and authorised for issue by the board and were signed on its behalf on 13 February 2015.
The notes on pages 6 to 8 form part of these financial statements.
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PAGE 6
ROAD RAIL CRANES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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2.TANGIBLE FIXED ASSETS
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PAGE 7
ROAD RAIL CRANES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
3.CREDITORS:
Amounts falling due within one year
Net obligations under finance leases and hire purchase contracts of £148,655 (2013- £4,248) are secured on assets to which they relate.
The amount of £198,031 (2013- £74,496) relates to sales invoice financing. The balance is secured by a fixed and floating charge on the company's assets.
The directors loans amounting to £113,517 (2013- £21,554) are included as being due within one year. However, the diectors have indicated that it is their intention to continue to support the company and only withdraw their loans when profitability and cashflow make it appropriate.
4.CREDITORS:
Amounts falling due after more than one year
Net obligations under finance leases and hire purchase contracts of £500,268 (2013- £7,797) are secured on assets to which they relate.
5.SHARE CAPITAL
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Shares classified as capital
 
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Allotted, called up and fully paid
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300 Ordinary shares of £1 each
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Shares classified as debt
 
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Allotted, called up and fully paid
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121,000 (2013 - 106,000) Cumulative 15% Redeemable Preference shares of £1 each
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PAGE 8
ROAD RAIL CRANES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
5.SHARE CAPITAL (continued)
15,000 cumulative 15% preference shares were issued during the year with a nominal value of £1 each.
The shares are redeemable at the option of the holders on any date after the second anniversary. As the shares were issued on varying dates the redemption option, if and to the extent exercised, would occur between 2015 and 2016.
The company is obliged to redeem the whole of the preference shares outstanding on the fifth anniversary of the issue of the shares. This would be upon varying dates between 2018 and 2019.
The value of any premium paid on the redemption of the cumulative preference shares shall be at various rates between 40% and 100% of the nominal value depending upon the closeness of the actual redemption date to the fifth anniversary.
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