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REGISTERED NUMBER: 04684573 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Shires Crane Hire Limited

Shires Crane Hire Limited (Registered number: 04684573)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shires Crane Hire Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mrs L K Sargeant





REGISTERED OFFICE: Shires Crane Hire
Sheepbridge Works
Chesterfield
Derbyshire
S41 9RX





REGISTERED NUMBER: 04684573 (England and Wales)





ACCOUNTANTS: Hadfields Accountants
Commerce House
658B Chatsworth Road
Chesterfield
Derbyshire
S40 3JZ

Shires Crane Hire Limited (Registered number: 04684573)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 253,411 199,024
253,411 199,024

CURRENT ASSETS
Stocks 1,236 2,472
Debtors 6 73,143 56,412
Cash at bank 122,673 105,833
197,052 164,717
CREDITORS
Amounts falling due within one year 7 286,952 238,962
NET CURRENT LIABILITIES (89,900 ) (74,245 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,511

124,779

CREDITORS
Amounts falling due after more than one
year

8

(18,750

)

(31,250

)

PROVISIONS FOR LIABILITIES (41,025 ) (37,696 )
NET ASSETS 103,736 55,833

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 103,636 55,733
SHAREHOLDERS' FUNDS 103,736 55,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Shires Crane Hire Limited (Registered number: 04684573)

Balance Sheet - continued
28 February 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2023 and were signed by:





Mrs L K Sargeant - Director


Shires Crane Hire Limited (Registered number: 04684573)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Shires 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks 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 balance sheet date.

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

Shires Crane Hire Limited (Registered number: 04684573)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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 8 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 25,000
AMORTISATION
At 1 March 2022
and 28 February 2023 25,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

Shires Crane Hire Limited (Registered number: 04684573)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 273,500 799 26,500 1,994 302,793
Additions 110,000 - - 677 110,677
Disposals - - (20,617 ) - (20,617 )
At 28 February 2023 383,500 799 5,883 2,671 392,853
DEPRECIATION
At 1 March 2022 76,739 581 24,619 1,830 103,769
Charge for year 55,434 33 367 44 55,878
Eliminated on disposal - - (20,205 ) - (20,205 )
At 28 February 2023 132,173 614 4,781 1,874 139,442
NET BOOK VALUE
At 28 February 2023 251,327 185 1,102 797 253,411
At 28 February 2022 196,761 218 1,881 164 199,024

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 March 2022 212,500
Transfer to ownership (82,500 )
At 28 February 2023 130,000
DEPRECIATION
At 1 March 2022 62,782
Charge for year 22,533
Transfer to ownership (41,668 )
At 28 February 2023 43,647
NET BOOK VALUE
At 28 February 2023 86,353
At 28 February 2022 149,718

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 64,815 56,197
Amounts owed by associates 1,530 -
Other debtors 6,798 215
73,143 56,412

Shires Crane Hire Limited (Registered number: 04684573)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 39,183 48,814
Hire purchase contracts 12,499 27,968
Trade creditors 74,019 24,316
Amounts owed to associates 78,011 31,831
Taxation and social security 1,386 14,147
Other creditors 81,854 91,886
286,952 238,962

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 18,750 31,250

9. RELATED PARTY DISCLOSURES

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

During the year the following transactions were made with The Ridings UK Ltd, a Company which is owned by the directors of Shires Crane Hire Limited;


28.02.23 28.02.22
£ £

Purchases from The Ridings UK Ltd 45,000 21,300

Sales to The Ridings UK Ltd 4,850 NIL



As at 28/02/23 Shires Crane Hire Ltd owed The Ridings UK Ltd £78,011 (2022 : £31,831).


During the year the following transactions were made with Shires Plant & Equipment Ltd, a company which is owned by the directors of Shires Crane Hire Limited;

28.02.2023 28.02.22

Purchases from Shires Plant & Equipment Ltd 1,850 NIL

Sales to Shires Plant & Equipment Ltd NIL NIL