Registered Number:09035438 |
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2023
Hawks Crane Hire Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
Hawks Crane Hire Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
7,440,529
7,564,826
2
7,440,529
7,564,826
Trade and other receivables |
1,005,152
1,104,528
3
112,002
Cash and cash equivalents |
296,426
1,400,954
1,117,154
Trade and other payables: amounts falling due within one |
year |
(1,430,843)
(1,364,125)
4
(313,689)
36,829
Net current assets
Total assets less current liabilities |
7,477,358
7,251,137
Trade and other payables: amounts falling due after more |
than one year |
(3,545,794)
(2,710,327)
5
(1,431,751)
(1,096,184)
Provisions for liabilities |
3,335,280
Net assets
2,609,159
100
100
3,335,180
2,609,059
3,335,280
2,609,159
Shareholders' funds
For the year ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 24 September 2024 and were signed by: |
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For the year ended 31 December 2023
Hawks Crane Hire Limited
Statement of Financial Position Continued
The notes form part of these financial statements |
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For the year ended 31 December 2023
Hawks Crane Hire Limited
Notes to the Financial Statements
Statutory Information
Hawks Crane Hire Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 09035438. |
Green St Green Road
Dartford
Kent
DA2 8DP
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
The principal accounting policies adopted are set out below. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, for the hire of machines, excluding value added tax, Turnover is recognised in accordance with the hire agreements and any amounts of machine hire relating to a period after the balance sheet date are deferred to the year in which the hire period relates. Turnover also includes consideration receivable for crawler crane training provided to crane operators, excluding value added tax. This is recognised in the period in which the training was carried out. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Computer Equipment
Motor Vehicles
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. |
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences arising on translation in the period are included in profit or loss. |
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For the year ended 31 December 2023
Hawks Crane Hire Limited
Notes to the Financial Statements Continued
Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability. Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease. |
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its director and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
2. Property, plant and equipment |
Motor Vehicles
9,851,847
19,423
15,924
9,816,500
396,729
3,434
-
393,295
-
-
(833)
(833)
13,335
-
(13,335)
-
10,222,297
15,924
9,522
10,247,743
Provision for depreciation and impairment |
2,287,021
5,004
6,155
2,275,862
Charge for year
520,443
1,920
3,981
514,542
(250)
-
-
(250)
1,899
-
(1,899)
-
2,807,214
5,025
10,136
2,792,053
7,430,244
5,788
4,497
7,440,529
7,540,638
9,769
14,419
7,564,826
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For the year ended 31 December 2023
Hawks Crane Hire Limited
Notes to the Financial Statements Continued
3. Trade and other receivables |
2022
2023
734,965
754,728
369,563
250,424
1,005,152
1,104,528
The debtors above include the following amounts falling due after more than one year: |
-
200,000
4. Trade and other payables: amounts falling due within one year |
2022
2023
Bank loans and overdraft (secured) |
41,667
59,338
334,038
370,542
Taxation and social security |
36,525
32,030
951,895
968,933
1,364,125
1,430,843
5. Trade and other payables: amounts falling due after more than one year |
2022
2023
Bank loans and overdraft (secured) |
135,331
182,902
2,574,996
3,362,892
2,710,327
3,545,794
Analysis of creditors falling due after more than five years: |
62,060
97,844
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For the year ended 31 December 2023
Hawks Crane Hire Limited
Notes to the Financial Statements Continued
6. Related party transactions |
During the year the company loaned £70,000 to a company under common control of one of the directors. The |
amount due as at 31 December 2023 was £270,000 (2022: £200,000). Interest was charged on the loan at a market |
rate of interest up until 31 May 2023. After this date the loan became interest free and repayable on demand. |
Interest of £5,000 is included in the Profit and Loss account. The balance outstanding is included in Other Debtors in |
note 5 to the accounts. |
In addition the company loaned £6,500 to a company in which the director has significant influence. The balance |
outstanding at 31 December 2023 was £6,500. This loan has been provided interest free and is repayable on |
demand. The balance is included in Other Debtors in note 5 to the accounts. The balance was repaid in full in March |
2024. |
7. Directors advances and guarantees |
Loaned
Repaid
Interest
Mr E D Hawkins
Repayable on demand
(31,671)
33,936
344,615
279,370
362
(31,671)
33,936
344,615
279,370
362
As at 31 December 2023 there was an amount due from the director of £33,936. Interest has been charged on the |
balance using the HMRC official rates of interest in operation during the accounting period. The interest charged is |
included in the Profit and Loss account. The balance outstanding is included in other debtors in note 5 to the |
accounts and was repaid in full after the year end. |
8. Guarantees and other financial commitments |
At 31 December 2023 the company had annual commitments under non-cancellable operating leases as set out |
below: |
2022
2023
Operating leases which expire: |
16,170
10,956
12,182
37,722
53,892
23,138
9. Average number of persons employed |
During the year the average number of employees was 18 (2022 : 16)
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