D Crane Plant Hire Limited Company Accounts
D Crane Plant Hire Limited Company Accounts
COMPANY REGISTRATION NUMBER:
08795268
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FINANCIAL STATEMENTS |
YEAR ENDED 31 MARCH 2017
CONTENTS |
PAGES |
Statement of financial position |
1 to 2 |
Notes to the financial statements |
3 to 6 |
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STATEMENT OF FINANCIAL POSITION |
2017 |
2016 |
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Note |
£ |
£ |
£ |
£ |
FIXED ASSETS
Intangible assets |
5 |
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Tangible assets |
6 |
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--------- |
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CURRENT ASSETS
Debtors |
7 |
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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 |
8 |
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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 |
9 |
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PROVISIONS
Taxation including deferred tax |
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NET ASSETS |
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CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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STATEMENT OF FINANCIAL POSITION (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
21 December 2017
, and are signed on behalf of the board by:
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Director |
Company registration number:
08795268
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 MARCH 2017
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
3.
ACCOUNTING POLICIES
(a)
Basis of preparation
(b)
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
(c)
Revenue recognition
(d)
Taxation
(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 |
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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
(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 |
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Motor Vehicles |
- |
25% per annum reducing balance |
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Fixtures, Fittings & Equipment |
- |
10% per annum reducing balance |
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(h)
Finance leases and hire purchase contracts
(i)
Provisions
(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
11
(2016:
10
).
5.
INTANGIBLE ASSETS
Goodwill |
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£ |
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Cost |
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At 1 April 2016 and 31 March 2017 |
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-------- |
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Amortisation |
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At 1 April 2016 |
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Charge for the year |
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-------- |
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At 31 March 2017 |
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-------- |
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Carrying amount |
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At 31 March 2017 |
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-------- |
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At 31 March 2016 |
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-------- |
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6.
TANGIBLE ASSETS
Plant & Machinery |
Motor Vehicles |
Fixtures, Fittings & Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2016 |
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7,298 |
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Additions |
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6,106 |
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Disposals |
(
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(
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– |
(
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--------- |
-------- |
-------- |
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At 31 March 2017 |
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13,404 |
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--------- |
-------- |
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Depreciation |
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At 1 April 2016 |
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1,834 |
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Charge for the year |
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1,111 |
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Disposals |
(
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(
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– |
(
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--------- |
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At 31 March 2017 |
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2,945 |
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Carrying amount |
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At 31 March 2017 |
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10,459 |
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At 31 March 2016 |
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5,464 |
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7.
DEBTORS
2017 |
2016 |
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£ |
£ |
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Trade debtors |
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Prepayments and accrued income |
– |
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Corporation tax repayable |
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– |
--------- |
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8.
CREDITORS:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
– |
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Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
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--------- |
--------- |
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Obligations under finance leases and hire purchase contracts are secured.
9.
CREDITORS:
amounts falling due after more than one year
2017 |
2016 |
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£ |
£ |
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Obligations under finance leases and hire purchase contracts |
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Directors loan accounts |
275,000 |
275,000 |
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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.
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 £16,667.
12.
TRANSITION TO FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.