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REGISTERED NUMBER: 12274459 (England and Wales)















NEW-TONNE CRANE & ENGINEERING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






NEW-TONNE CRANE & ENGINEERING LTD (REGISTERED NUMBER: 12274459)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEW-TONNE CRANE & ENGINEERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: G Lindley
D R Sargeant





REGISTERED OFFICE: Unit 1/1A
Sankey Valley Industrial Estate
Newton Le Willows
Merseyside
WA12 8DN





REGISTERED NUMBER: 12274459 (England and Wales)





ACCOUNTANTS: Clarke Nicklin LLP
Chartered Accountants
Clarke Nicklin House
Brooks Drive
Cheadle Royal Business Park
Cheadle
Cheshire
SK8 3TD

NEW-TONNE CRANE & ENGINEERING LTD (REGISTERED NUMBER: 12274459)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 232,250 2,000
Tangible assets 5 107,539 107,437
339,789 109,437

CURRENT ASSETS
Stocks 30,148 26,247
Debtors 6 246,175 253,776
Cash at bank and in hand 210,212 267,833
486,535 547,856
CREDITORS
Amounts falling due within one year 7 461,098 263,614
NET CURRENT ASSETS 25,437 284,242
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,226

393,679

CREDITORS
Amounts falling due after more than one
year

8

(64,516

)

(94,731

)

PROVISIONS FOR LIABILITIES (20,432 ) (20,413 )
NET ASSETS 280,278 278,535

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 280,178 278,435
280,278 278,535

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

NEW-TONNE CRANE & ENGINEERING LTD (REGISTERED NUMBER: 12274459)

BALANCE SHEET - continued
31 OCTOBER 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 30 July 2024 and were signed on its behalf by:





D R Sargeant - Director


NEW-TONNE CRANE & ENGINEERING LTD (REGISTERED NUMBER: 12274459)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

New-Tonne Crane & Engineering Ltd 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, is partly amount paid in connection with the acquisition of a business in 2020, which is being amortised evenly over its estimated useful life of 5 years and partly amount paid in connection with the acquisition of a business in 2023, which is being amortised evenly over its estimated useful life of 10 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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


NEW-TONNE CRANE & ENGINEERING LTD (REGISTERED NUMBER: 12274459)

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


2. ACCOUNTING POLICIES - continued
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 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 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022 5,000
Additions 250,000
At 31 October 2023 255,000
AMORTISATION
At 1 November 2022 3,000
Charge for year 19,750
At 31 October 2023 22,750
NET BOOK VALUE
At 31 October 2023 232,250
At 31 October 2022 2,000

NEW-TONNE CRANE & ENGINEERING LTD (REGISTERED NUMBER: 12274459)

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


5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 32,000 149,925 12,366 194,291
Additions - 29,995 - 29,995
At 31 October 2023 32,000 179,920 12,366 224,286
DEPRECIATION
At 1 November 2022 12,348 70,751 3,755 86,854
Charge for year 2,948 24,792 2,153 29,893
At 31 October 2023 15,296 95,543 5,908 116,747
NET BOOK VALUE
At 31 October 2023 16,704 84,377 6,458 107,539
At 31 October 2022 19,652 79,174 8,611 107,437

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 137,925
Additions 29,995
At 31 October 2023 167,920
DEPRECIATION
At 1 November 2022 63,813
Charge for year 23,527
At 31 October 2023 87,340
NET BOOK VALUE
At 31 October 2023 80,580
At 31 October 2022 74,112

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 231,300 238,901
Other debtors 14,875 14,875
246,175 253,776

NEW-TONNE CRANE & ENGINEERING LTD (REGISTERED NUMBER: 12274459)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 45,386 26,681
Trade creditors 87,374 55,495
Amounts owed to group undertakings 46,573 -
Corporation tax 14,933 36,787
Social security and other taxes 7,827 4,336
VAT 25,619 25,435
Other creditors 229,021 63,798
Directors' current accounts 680 48,000
Accrued expenses 3,685 3,082
461,098 263,614

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 27,064 37,064
Hire purchase contracts 37,452 57,667
64,516 94,731

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Invoice finance 87,261 63,173

The invoice finance balance is included within other creditors.

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.