D Crane Plant Hire Limited Filleted accounts for Companies House (small and micro)

D CRANE PLANT HIRE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08795268

D CRANE PLANT HIRE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2021

D CRANE PLANT HIRE LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2021

	2021		2020
Note	£	£	£	£

FIXED ASSETS

Intangible assets	5	21,250	28,750
Tangible assets	6	490,632	489,656
		---------	---------
		511,882	518,406

CURRENT ASSETS

Debtors	7	59,242	117,232
Cash at bank and in hand		102,762	62,712
		---------	---------
		162,004	179,944

CREDITORS: amounts falling due within one year	8	82,414		93,773
		---------		---------
NET CURRENT ASSETS			79,590		86,171
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			591,472		604,577

CREDITORS: amounts falling due after more than one year	9		350,739		329,144

PROVISIONS

Taxation including deferred tax	92,003	93,034
	---------	---------
NET ASSETS	148,730	182,399
	---------	---------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	148,630	182,299
	---------	---------
SHAREHOLDERS FUNDS	148,730	182,399
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

D CRANE PLANT HIRE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 23 December 2021 , and are signed on behalf of the board by:

S.J. Crane

Director

Company registration number: 08795268

D CRANE PLANT HIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fleetcroft, Fleet Street Lane, Ribchester, Preston, Lancashire, PR3 3XE.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Government grants

Government grants or assistance of a revenue nature are recognised in the same period as the related expenditure. Where the grant is for the purpose of giving immediate financial support with no future related costs the income is recognised in the period in which it becomes receivable.

The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of VAT. Revenue is recognised on delivery of goods to the customer or on completion of work done.

(d) Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

(e) Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Over 10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

(f) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(g) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	15% per annum reducing balance
Motor Vehicles	-	25% per annum reducing balance
Fixtures, Fittings & Equipment	-	`10% per annum reducing balance`

(h) Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. Finance charges are allocated to each period on a straight line basis.

(i) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

(j) Financial instruments

Basic financial instruments are recognised at amortised cost.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 5 (2020: 6 ).

5. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 April 2020 and 31 March 2021	75,000
	--------
Amortisation
At 1 April 2020	46,250
Charge for the year	7,500
	--------
At 31 March 2021	53,750
	--------
Carrying amount
At 31 March 2021	21,250
	--------
At 31 March 2020	28,750
	--------

6. TANGIBLE ASSETS

	Plant & Machinery	Motor Vehicles	Fixtures, Fittings & Equipment	Total
	£	£	£	£
Cost
At 1 April 2020	842,755	64,434	21,259	928,448
Additions	130,242	–	7,275	137,517
Disposals	( 112,171)	( 15,900)	–	( 128,071)
	---------	--------	--------	---------
At 31 March 2021	860,826	48,534	28,534	937,894
	---------	--------	--------	---------
Depreciation
At 1 April 2020	398,578	32,913	7,301	438,792
Charge for the year	57,286	6,802	1,872	65,960
Disposals	( 45,902)	( 11,588)	–	( 57,490)
	---------	--------	--------	---------
At 31 March 2021	409,962	28,127	9,173	447,262
	---------	--------	--------	---------
Carrying amount
At 31 March 2021	450,864	20,407	19,361	490,632
	---------	--------	--------	---------
At 31 March 2020	444,177	31,521	13,958	489,656
	---------	--------	--------	---------

7. DEBTORS

	2021	2020
	£	£
Trade debtors	51,805	117,232
Prepayments and accrued income	3,000	–
Corporation tax repayable	4,437	–
	--------	---------
	59,242	117,232
	--------	---------

8. CREDITORS: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	8,333	–
Trade creditors	6,775	10,943
Accruals and deferred income	4,921	3,289
Corporation tax	–	85
Social security and other taxes	10,454	15,862
Obligations under finance leases and hire purchase contracts	44,067	51,725
Director loan accounts	7,864	11,869
	--------	--------
	82,414	93,773
	--------	--------

Obligations under finance leases and hire purchase contracts are secured.

9. CREDITORS: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	41,667	–
Obligations under finance leases and hire purchase contracts	34,072	54,144
Directors loan accounts	275,000	275,000
	---------	---------
	350,739	329,144
	---------	---------

Obligations under finance leases and hire purchase contracts are secured.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There are no transactions with directors that require disclosure under FRS 102 Section 1A.

11. RELATED PARTY TRANSACTIONS

The company was under the control of the directors, Mr D.J. Crane and Mrs S.J. Crane , throughout the year. During the year the company paid dividends to the directors amounting to £2,857.