J Barnsley Cranes Limited - Period Ending 2022-03-31
J Barnsley Cranes Limited - Period Ending 2022-03-31
Registration number:
J Barnsley Cranes Limited
for the Year Ended 31 March 2022
J Barnsley Cranes Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
J Barnsley Cranes Limited
Company Information
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Directors |
Mr James Dennis Satchwell Mr John William Slimm Mr Matthew Lionel Banner |
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Company secretary |
Mr John William Slimm |
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Registered office |
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Auditors |
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J Barnsley Cranes Limited
Strategic Report for the Year Ended 31 March 2022
The directors present their strategic report for the year ended 31 March 2022.
Principal activity
The principal activity of the company is supply of lifting equipment.
Fair review of the business
The company continues to specialise in explosive proof cranes and crane equipment for the petrochemical and pharmaceutical industries with the majority of its work in the oil and gas industry. Market conditions globally continue to be very challenging especially due to the international restrctions suffered due to the pandemic and further difficulties with Brexit. Despite this the company only suffered a 9% decrease in export sales and there has been a slight increase in the gross margin of the company from 24.85% to 25.02% which reflects the control over direct costs enforced by the directors and management. Nonetheless the directors consider that there remains significant opportunities for the company to develop in its chosen markets and they continue to concentrate on providing a quality personal service committing to deadlines and budgets and are willing to go anywhere in the world. This is continually attracting new customers.
The company's key financial and other performance indicators during the year were as follows:
|
Unit |
2022 |
2021 |
|
|
Turnover |
£ |
8,829,581 |
9,441,995 |
|
Turnover per employee |
£ |
154,905 |
165,649 |
|
Gross profit |
£ |
2,209,197 |
2,346,180 |
|
Gross profit percentage |
% |
25 |
25 |
|
EBITDA (before exceptional items) |
£ |
116,006 |
(145,922) |
Principal risks and uncertainties
The management continually monitors the key risks facing the business as well as assessing the controls used for managing these risks.
The markets that the company operates in are global and expose it currency fluctuations principally between the US Dollar and Pound Sterling. The vast market it operates in and the long term projects it gets involved in also exposes it to credit risk. However, there is no significant concentration of risk as exposure is spread over a number of customers.
Special mention for COVID-19
Throughout the current financial year the company's activities have continued to be affected by the Global Pandemic COVID -19. During the coming year the directors remain confident that they can fulfil customer's expectations and look forward to a challenging but successful year.
Approved and authorised by the
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......................................... |
J Barnsley Cranes Limited
Directors' Report for the Year Ended 31 March 2022
The directors present their report and the financial statements for the year ended 31 March 2022.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The company's activities expose it to a number of financial risks including price risk, credit risk, liquidity risk and cash flow risk. The use of financial derivatives is governed by the company's policies approved by the board of directors, which provide written principles on the use of financial derivatives to manage these risks. The company does not use derivative financial instruments for speculative purposes.
Price risk, credit risk, liquidity risk and cash flow risk
Price risk
The company is exposed to commodity price risk. The company monitors the exchange rate of the markets it operates within and updates the price of their goods to accommodate the risk.
Credit risk
The company's principal assets are the bank balances and cash, trade and other receivables.
The company's credit risk is primarily attributed to trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of cash flows.
The company has no significant concentration of credit risk, with exposure spread over a number of customers.
Liquidity risk
The company has funded and intends to fund its ongoing operations and future developments through cash generated from operating activities and the funds within their bank accounts.
Cash flow risk
The company trades in various countries around the world and is exposed to foreign currencies. These are managed in line with company policies.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
J Barnsley Cranes Limited
Directors' Report for the Year Ended 31 March 2022
Reappointment of auditors
The auditors Walker Hubble are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved and authorised by the
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......................................... |
J Barnsley Cranes Limited
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:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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. |
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.
J Barnsley Cranes Limited
Independent Auditor's Report to the Members of J Barnsley Cranes Limited
Opinion
We have audited the financial statements of J Barnsley Cranes Limited (the 'company') for the year ended 31 March 2022, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 March 2022 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
J Barnsley Cranes Limited
Independent Auditor's Report to the Members of J Barnsley Cranes Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 5], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified and assessed the risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations. Our procedures included enquiry of management and performing analytical review procedures to identify any unusual relationhips that may indicate a material misstatement. We also tested the appropriateness of journals to address the risk of fraud through management override of controls. We performed appropriate testing in respect of the risk of fraud in revenue recognition through a review of margins, sales cut off procedures, and by performing existence and valuation testing on trade debtors.
Relevant laws and regulations, together with potential fraud risks, were communicated to the audit engagement team at the planning stage to ensure they remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
J Barnsley Cranes Limited
Independent Auditor's Report to the Members of J Barnsley Cranes Limited
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
5 Parsons Street
West Midlands
DY1 1JJ
J Barnsley Cranes Limited
Profit and Loss Account for the Year Ended 31 March 2022
|
Note |
2022 |
2021 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Distribution costs |
( |
( |
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit/(loss) |
34,662 |
(217,192) |
|
|
Interest payable and similar expenses |
( |
( |
|
|
Profit/(loss) before tax |
|
( |
|
|
Profit/(loss) for the financial year |
|
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
J Barnsley Cranes Limited
Statement of Comprehensive Income for the Year Ended 31 March 2022
|
2022 |
2021 |
|
|
Profit/(loss) for the year |
|
( |
|
Total comprehensive income for the year |
|
( |
J Barnsley Cranes Limited
(Registration number: 02369982)
Balance Sheet as at 31 March 2022
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Note |
2022 |
2021 |
|
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Fixed assets |
|||
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Tangible assets |
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Investments |
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|
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Current assets |
|||
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Stocks |
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Debtors |
|
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Cash at bank and in hand |
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||
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Creditors: Amounts falling due within one year |
( |
( |
|
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Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
7,500 |
7,500 |
|
|
Capital redemption reserve |
2,500 |
2,500 |
|
|
Retained earnings |
8,979,046 |
9,437,420 |
|
|
Shareholders' funds |
8,989,046 |
9,447,420 |
J Barnsley Cranes Limited
(Registration number: 02369982)
Balance Sheet as at 31 March 2022
Approved and authorised by the
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......................................... |
J Barnsley Cranes Limited
Statement of Changes in Equity for the Year Ended 31 March 2022
|
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
|
|
At 1 April 2021 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 March 2022 |
|
|
|
|
|
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
|
|
At 1 April 2020 |
|
|
|
|
|
Loss for the year |
- |
- |
( |
( |
|
Dividends |
- |
- |
( |
( |
|
At 31 March 2021 |
|
|
|
|
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
Group accounts not prepared
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.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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.
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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 |
|
Land and buildings |
Straight line over 25 years |
|
Plant and machinery |
10% straight line |
|
Fixtures fittings and equipment |
20% straight line |
|
Motor vehicles |
25% straight line |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
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.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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.
|
Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
|
2022 |
2021 |
|
|
Sale of goods |
|
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2022 |
2021 |
|
|
Government grants |
|
|
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
|
Operating profit/(loss) |
Arrived at after charging/(crediting)
|
2022 |
2021 |
|
|
Depreciation expense |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Operating lease expense - other |
|
|
|
Government grants |
The amount of grants recognised in the financial statements was £
|
Interest payable and similar expenses |
|
2022 |
2021 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2022 |
2021 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2022 |
2021 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
|
|
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2022 |
2021 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
504,488 |
528,252 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2022 |
2021 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2022 |
2021 |
|
|
Remuneration |
|
|
|
Auditors' remuneration |
|
2022 |
2021 |
|
|
Audit of the financial statements |
|
|
|
Other fees to auditors |
||
|
Taxation compliance services |
|
|
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2022 |
2021 |
|
|
Current taxation |
||
|
- |
- |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2021 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2022 |
2021 |
|
|
Profit/(loss) before tax |
|
( |
|
Corporation tax at standard rate |
|
( |
|
Effect of tax losses |
|
|
|
Tax (decrease)/increase from effect of capital allowances and depreciation |
( |
|
|
Total tax charge/(credit) |
- |
- |
|
Tangible assets |
|
Land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
||
|
Cost or valuation |
|||||
|
At 1 April 2021 |
|
|
|
|
|
|
Additions |
- |
|
- |
- |
|
|
At 31 March 2022 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 April 2021 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
At 31 March 2022 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 March 2022 |
|
|
|
|
|
|
At 31 March 2021 |
|
|
|
|
|
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
|
Total |
|||||
|
Cost or valuation |
|||||
|
At 1 April 2021 |
|
||||
|
Additions |
|
||||
|
At 31 March 2022 |
|
||||
|
Depreciation |
|||||
|
At 1 April 2021 |
|
||||
|
Charge for the year |
|
||||
|
At 31 March 2022 |
|
||||
|
Carrying amount |
|||||
|
At 31 March 2022 |
|
||||
|
At 31 March 2021 |
|
||||
Included within the net book value of land and buildings above is £1,291,438 (2021 - £1,322,243) in respect of freehold land and buildings.
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2022 |
2021 |
|
|
Plant and machinery |
- |
15,399 |
|
Motor vehicles |
- |
- |
|
- |
15,399 |
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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Investments in subsidiaries, joint ventures and associates |
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2022 |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 April 2021 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2022 |
2021 |
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Subsidiary undertakings |
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Pedmore Road, Brierley Hill
England |
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The principal activity of Apex Crane and Service Limited is |
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The profit for the financial period of Apex Crane and Service Limited was £ nil and the aggregate amount of capital and reserves at the end of the period was £5,000. |
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Stocks |
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2022 |
2021 |
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Work in progress |
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J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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Debtors |
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Current |
2022 |
2021 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Cash and cash equivalents |
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2022 |
2021 |
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Cash on hand |
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Cash at bank |
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J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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Creditors |
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Note |
2022 |
2021 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts due to related parties |
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Social security and other taxes |
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Other payables |
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Accruals |
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Due after one year |
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Loans and borrowings |
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Provisions for liabilities |
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Other provisions |
Total |
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At 1 April 2021 |
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Increase (decrease) in existing provisions |
( |
( |
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At 31 March 2022 |
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Share capital |
Allotted, called up and fully paid shares
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2022 |
2021 |
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No. |
£ |
No. |
£ |
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7,500 |
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7,500 |
J Barnsley Cranes Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
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2022 |
2021 |
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Not later than one year |
- |
( |
Operating leases
The total of future minimum lease payments is as follows:
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2022 |
2021 |
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Not later than one year |
( |
( |
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Later than one year and not later than five years |
( |
( |
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( |
( |
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
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Financial guarantee contracts |
The company has in place performance and warranty bonds with their bankers. The value of these at the end of the financial year were £1,441,617 (2021 - £1,984,128).