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REGISTERED NUMBER: 01068623 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023

FOR

Q CRANE & PLANT HIRE LIMITED

Q CRANE & PLANT HIRE LIMITED (REGISTERED NUMBER: 01068623)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Q CRANE & PLANT HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTORS: Mr A J P Quinn
Mr M Gregory
Ms J A Quinn





SECRETARY: Ms J A Quinn





REGISTERED OFFICE: 1 Stampstone Street
Oldham
Lancashire
OL1 3PW





REGISTERED NUMBER: 01068623 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

Q CRANE & PLANT HIRE LIMITED (REGISTERED NUMBER: 01068623)

BALANCE SHEET
31ST AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,596,785 9,292,730

CURRENT ASSETS
Debtors 5 870,005 856,697
Cash at bank and in hand 2,587,132 2,805,651
3,457,137 3,662,348
CREDITORS
Amounts falling due within one year 6 1,655,520 1,847,669
NET CURRENT ASSETS 1,801,617 1,814,679
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,398,402

11,107,409

CREDITORS
Amounts falling due after more than one
year

7

(2,055,808

)

(3,023,914

)

PROVISIONS FOR LIABILITIES 9 (2,041,266 ) (1,261,376 )
NET ASSETS 7,301,328 6,822,119

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Retained earnings 7,291,328 6,812,119
SHAREHOLDERS' FUNDS 7,301,328 6,822,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Q CRANE & PLANT HIRE LIMITED (REGISTERED NUMBER: 01068623)

BALANCE SHEET - continued
31ST AUGUST 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 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 16th January 2024 and were signed on its behalf by:





Mr A J P Quinn - Director


Q CRANE & PLANT HIRE LIMITED (REGISTERED NUMBER: 01068623)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

Q Crane & Plant 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
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract for services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

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 etc - 25% on cost, Straight line over 20 years and 10% - 33% on cost

Financial instruments
A financial asset or liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


Q CRANE & PLANT HIRE LIMITED (REGISTERED NUMBER: 01068623)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

2. ACCOUNTING POLICIES - continued
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 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.

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 shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to income as incurred.

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 25 (2022 - 26 ) .

Q CRANE & PLANT HIRE LIMITED (REGISTERED NUMBER: 01068623)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2022 14,975,882
Additions 1,474,614
Disposals (640,283 )
At 31st August 2023 15,810,213
DEPRECIATION
At 1st September 2022 5,683,152
Charge for year 866,341
Eliminated on disposal (336,065 )
At 31st August 2023 6,213,428
NET BOOK VALUE
At 31st August 2023 9,596,785
At 31st August 2022 9,292,730

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

Plant and
machinery
etc
£   
COST
At 1st September 2022 6,906,435
Disposals (537,766 )
Transfer to ownership (748,763 )
At 31st August 2023 5,619,906
DEPRECIATION
At 1st September 2022 1,046,475
Charge for year 559,736
Eliminated on disposal (243,548 )
Transfer to ownership (344,981 )
At 31st August 2023 1,017,682
NET BOOK VALUE
At 31st August 2023 4,602,224
At 31st August 2022 5,859,960

Q CRANE & PLANT HIRE LIMITED (REGISTERED NUMBER: 01068623)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 770,343 668,505
Other debtors 99,662 188,192
870,005 856,697

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 51,000 60,600
Hire purchase contracts 773,507 1,028,638
Trade creditors 277,125 178,198
Taxation and social security 40,061 87,765
Other creditors 513,827 492,468
1,655,520 1,847,669

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 444,650 510,050
Hire purchase contracts 1,611,158 2,513,864
2,055,808 3,023,914

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 495,650 570,650
Hire purchase contracts 2,384,665 3,542,502
2,880,315 4,113,152

Hire purchase liabilities are secured on the assets to which they relate.

The bank loan is secured by a cross company debenture.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Capital allowances in excess of depreciation 2,328,237 1,605,032
Unrelieved trading losses (286,971 ) (343,656 )
2,041,266 1,261,376

Q CRANE & PLANT HIRE LIMITED (REGISTERED NUMBER: 01068623)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st September 2022 1,261,376
Provided during year 779,890
Balance at 31st August 2023 2,041,266

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
9,000 Ordinary 'A' shares £1 9,000 9,000
500 Ordinary 'B' shares £1 500 500
500 Ordinary 'C' shares £1 500 500
10,000 10,000

The Ordinary 'A' shares, Ordinary 'B' shares and Ordinary 'C' shares rank pari passu in all respects, other than carrying differential rights to dividends.

11. RELATED PARTY DISCLOSURES

The director Mr A J P Quinn purchased a Motor vehicle from the company at its market value of £25,000.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Q Crane Hire Limited.