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NMT CRANE HIRE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28TH FEBRUARY 2023






NMT CRANE HIRE LIMITED (REGISTERED NUMBER: 04331882)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NMT CRANE HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: M R Ambridge
N P Ambridge
T L Ambridge





SECRETARY: M R Ambridge





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Road Industrial Estate
Kempston
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 04331882 (England and Wales)





AUDITORS: HW East Midlands Audit LLP
Statutory Auditors
Woburn Court, 2 Railton Rd
Woburn Road Ind Est
Kempston
Bedfordshire
MK42 7PN

NMT CRANE HIRE LIMITED (REGISTERED NUMBER: 04331882)

STATEMENT OF FINANCIAL POSITION
28TH FEBRUARY 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 46,062 46,062
Debtors 4 2,657,201 2,328,114
Cash at bank and in hand 281,975 285,149
2,985,238 2,659,325
CREDITORS
Amounts falling due within one year 5 1,092,742 1,063,015
NET CURRENT ASSETS 1,892,496 1,596,310
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,892,496

1,596,310

CREDITORS
Amounts falling due after more than one
year

6

-

144,253
NET ASSETS 1,892,496 1,452,057

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,892,396 1,451,957
SHAREHOLDERS' FUNDS 1,892,496 1,452,057

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 15th November 2023 and were signed on its behalf by:





T L Ambridge - Director


NMT CRANE HIRE LIMITED (REGISTERED NUMBER: 04331882)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

NMT Crane Hire 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.

2. ACCOUNTING POLICIES

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied at all years presented unless otherwise stated.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The directors are of the opinion that there are no significant estimates or judgements that could materially impact the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade
discounts. The policy for the recognition of turnover is as follows:

Turnover from the rental of plant and machinery is recognised when the service has been provided and invoiced to the customer.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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

NMT CRANE HIRE LIMITED (REGISTERED NUMBER: 04331882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Rentals payable and receivable under operating leases are charged to the profit and loss account 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.

Holiday pay
A provision for annual leave accrued by employees as a result of services rendered is recognised in the current year. The provision is measured at the salary cost payable for the period of absence.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2022 - 68 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,386,320 1,353,088
Doubtful debt provision (1,625 ) (13,163 )
Amounts owed by group undertakings 1,237,389 978,936
Other debtors 35,117 9,253
2,657,201 2,328,114

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans - 77,054
Trade creditors 420,430 344,357
Corporation tax 108,839 -
Social security and other taxes 144,261 152,680
VAT 242,334 287,344
Other creditors 84,538 94,485
Accruals and deferred income 92,340 107,095
1,092,742 1,063,015

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 2-5 years - 144,253

NMT CRANE HIRE LIMITED (REGISTERED NUMBER: 04331882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 ORDINARY £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alberto Di Lorenzo (FCA) (Senior Statutory Auditor)
for and on behalf of HW East Midlands Audit LLP

9. OTHER FINANCIAL COMMITMENTS

During the year, the company had other financial commitments of £28,114 (2022: £14,779).

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standards 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

11. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by its directors, Messrs M R Ambridge, N P Ambridge & T L Ambridge.

The parent company is N.M.T. Plant Hire Limited, a company registered in the UK. Consolidated accounts are prepared by N.M.T. Plant Hire Limited and are available at Companies House.