United Crane Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02056025 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2018

for

United Crane Services Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

S R White

SECRETARY:

Ms S Lister

REGISTERED OFFICE:

Niagara Forge

Claywheels Lane

Sheffield

South Yorkshire

S6 1LZ

REGISTERED NUMBER:

02056025 (England and Wales)

ACCOUNTANTS:

Royston Parkin Limited

Chartered Certified Accountants

& Statutory Auditor

2 President Buildings

Sheffield

South Yorkshire

S4 7UQ

FIXED ASSETS

Property, plant and equipment

4

76,185

84,848

CURRENT ASSETS

Inventories

8,500

8,500

Debtors

5

196,877

194,748

Prepayments and accrued income

17,061

11,372

Cash at bank and in hand

7,176

20,309

229,614

234,929

CREDITORS

Amounts falling due within one year

6

215,564

209,560

NET CURRENT ASSETS

14,050

25,369

TOTAL ASSETS LESS CURRENT LIABILITIES

90,235

110,217

CREDITORS

Amounts falling due after more than one year

7

(7,884

)

(14,438

)

PROVISIONS FOR LIABILITIES

10

(5,226

)

(6,244

)

ACCRUALS AND DEFERRED INCOME

(2,729

)

(8,152

)

NET ASSETS

74,396

81,383

CAPITAL AND RESERVES

Called up share capital

50

50

Revaluation reserve

11

3,000

3,000

Capital redemption reserve

50

50

Retained earnings

71,296

78,283

SHAREHOLDERS' FUNDS

74,396

81,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 25 September 2018 and were signed by:

S R White - Director

1.	STATUTORY INFORMATION

United Crane Services Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

1% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the statement of financial position date. Transactions in foreign currencies are translated into sterling

at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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

of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 10 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Long

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST

At 1 July 2017

20,000

57,838

123,090

200,928

Additions

-

190

12,900

13,090

At 30 June 2018

20,000

58,028

135,990

214,018

DEPRECIATION

At 1 July 2017

2,633

49,674

63,773

116,080

Charge for year

200

3,650

17,903

21,753

At 30 June 2018

2,833

53,324

81,676

137,833

NET BOOK VALUE

At 30 June 2018

17,167

4,704

54,314

76,185

At 30 June 2017

17,367

8,164

59,317

84,848

Cost or valuation at 30 June 2018 is as follows:

£

At cost -

At valuation 20,000

Valued at open market value by the directors on 30 April 2009.

If the land and buildings had not been included at valuation they would have been included under the

historical cost convention as follows:

2018 2017

£ £

Cost 19,514 19,514

Accumulated depreciation (7,283) (7,083)

Net book value 12,231 12,431

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 July 2017

and 30 June 2018

35,200

DEPRECIATION

At 1 July 2017

8,800

Charge for year

6,600

At 30 June 2018

15,400

NET BOOK VALUE

At 30 June 2018

19,800

At 30 June 2017

26,400

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

175,376

173,912

Other debtors

21,501

20,836

196,877

194,748

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

468

637

Hire purchase contracts (see note 8)

6,913

6,709

Trade creditors

120,412

104,488

Taxation and social security

9,990

28,913

Other creditors

77,781

68,813

215,564

209,560

The bank loans and overdraft are secured by a fixed and floating charge over the assets of the

company.

The hire purchase creditors are secured on the assets concerned.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts (see note 8)

7,884

14,438

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2018

2017

£

£

Net obligations repayable:

Within one year

6,913

6,709

Between one and five years

7,884

14,438

14,797

21,147

Non-cancellable

operating leases

2018

2017

£

£

Within one year

30,500

30,500

Between one and five years

91,500

122,000

122,000

152,500

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

RBS Factoring Account

86,056

72,650

10.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

5,226

6,244

Deferred

tax

£

Balance at 1 July 2017

6,244

Credit to Income Statement during year

(1,018

)

Balance at 30 June 2018

5,226

11.

RESERVES

Revaluatio

reserve

£

At 1 July 2017

and 30 June 2018

3,000

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £12,050 were paid to the director .