Universal Crane Mats Ltd 7891783 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is hire of construction industry equipment Digita Accounts Production Advanced 6.30.9574.0 true true 7891783 2023-01-01 2023-12-31 7891783 2023-12-31 7891783 bus:OrdinaryShareClass1 2023-12-31 7891783 core:CurrentFinancialInstruments 2023-12-31 7891783 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 7891783 core:FurnitureFittings 2023-12-31 7891783 core:MotorVehicles 2023-12-31 7891783 core:OtherPropertyPlantEquipment 2023-12-31 7891783 bus:SmallEntities 2023-01-01 2023-12-31 7891783 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 7891783 bus:FullAccounts 2023-01-01 2023-12-31 7891783 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 7891783 bus:RegisteredOffice 2023-01-01 2023-12-31 7891783 bus:Director1 2023-01-01 2023-12-31 7891783 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 7891783 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 7891783 bus:Agent1 2023-01-01 2023-12-31 7891783 core:FurnitureFittings 2023-01-01 2023-12-31 7891783 core:MotorVehicles 2023-01-01 2023-12-31 7891783 core:OfficeEquipment 2023-01-01 2023-12-31 7891783 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 7891783 core:PlantMachinery 2023-01-01 2023-12-31 7891783 countries:England 2023-01-01 2023-12-31 7891783 2022-12-31 7891783 core:FurnitureFittings 2022-12-31 7891783 core:MotorVehicles 2022-12-31 7891783 core:OtherPropertyPlantEquipment 2022-12-31 7891783 2022-01-01 2022-12-31 7891783 2022-12-31 7891783 bus:OrdinaryShareClass1 2022-12-31 7891783 core:CurrentFinancialInstruments 2022-12-31 7891783 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 7891783 core:FurnitureFittings 2022-12-31 7891783 core:MotorVehicles 2022-12-31 7891783 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 7891783

Universal Crane Mats Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Universal Crane Mats Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Universal Crane Mats Ltd

Company Information

Director

Mr Michael Allanson

Registered office

Universal House
Hamilton Road
Sutton in Ashfield
Notts
NG17 5LD

Accountants

David Lissimore ACMA CGMA
AIMS Accountants for Business
3 Clayton Close
Morton
Alfreton
Derbyshire
DE55 6LN

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Universal Crane Mats Ltd
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Universal Crane Mats Ltd for the year ended 31 December 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Universal Crane Mats Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Universal Crane Mats Ltd. You consider that Universal Crane Mats Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Universal Crane Mats Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

David Lissimore ACMA CGMA
AIMS Accountants for Business
3 Clayton Close
Morton
Alfreton
Derbyshire
DE55 6LN

17 September 2024

 

Universal Crane Mats Ltd

(Registration number: 7891783)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

324,661

283,593

Current assets

 

Stocks

5

106,993

99,331

Debtors

6

244,690

247,801

Cash at bank and in hand

 

1,109,892

853,528

 

1,461,575

1,200,660

Creditors: Amounts falling due within one year

7

(181,932)

(177,442)

Net current assets

 

1,279,643

1,023,218

Net assets

 

1,604,304

1,306,811

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

1,604,303

1,306,810

Shareholders' funds

 

1,604,304

1,306,811

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 September 2024
 

 

Universal Crane Mats Ltd

(Registration number: 7891783)
Balance Sheet as at 31 December 2023

.........................................
Mr Michael Allanson
Director

 

Universal Crane Mats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Universal House
Hamilton Road
Sutton in Ashfield
Notts
NG17 5LD

These financial statements were authorised for issue by the director on 17 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Universal Crane Mats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Commercial vehicles

25% straight line

Office equipment

33% straight line

Fixtures and fittings

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Universal Crane Mats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

 

Universal Crane Mats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

57,813

34,006

780,863

872,682

Additions

4,928

-

221,815

226,743

At 31 December 2023

62,741

34,006

1,002,678

1,099,425

Depreciation

At 1 January 2023

58,218

31,256

503,929

593,403

Charge for the year

-

2,750

178,611

181,361

At 31 December 2023

58,218

34,006

682,540

774,764

Carrying amount

At 31 December 2023

4,523

-

320,138

324,661

At 31 December 2022

3,909

2,750

276,934

283,593

5

Stocks

2023
£

2022
£

Other inventories

106,993

99,331

6

Debtors

Current

2023
£

2022
£

Trade debtors

230,811

234,857

Prepayments

8,328

7,394

Other debtors

5,551

5,550

 

244,690

247,801

7

Creditors

Creditors: amounts falling due within one year

 

Universal Crane Mats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2023
£

2022
£

Due within one year

Trade creditors

27,026

34,104

Taxation and social security

151,564

142,663

Accruals and deferred income

238

175

Other creditors

3,104

500

181,932

177,442

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1