Registered number
02069295
R J Crane Hire Limited
Filleted Accounts
31 March 2024
R J Crane Hire Limited
Registered number: 02069295
Balance Sheet
as at 31 March 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 1,080,911 757,351
Current assets
Stocks - 640
Debtors 4 2,178,058 1,424,738
Cash at bank and in hand 246,304 150,236
2,424,362 1,575,614
Creditors: amounts falling due within one year 5 (960,897) (526,917)
Net current assets 1,463,465 1,048,697
Total assets less current liabilities 2,544,376 1,806,048
Creditors: amounts falling due after more than one year 6 (641,265) (613,061)
Provisions for liabilities (270,228) (174,190)
Net assets 1,632,883 1,018,797
Capital and reserves
Called up share capital 10,000 10,000
Share premium 10,000 10,000
Profit and loss account 1,612,883 998,797
Shareholders' funds 1,632,883 1,018,797
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Rhodes
Director
Approved by the board on 30 July 2024
R J Crane Hire Limited
Notes to the Accounts
for the period from 1 November 2022 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the hire of equipment charged as provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Leasehold land and buildings 10% reducing balance
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 7 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 53,310 1,713,959 69,366 1,836,635
Additions - 517,000 - 517,000
Disposals - (250,000) (15,000) (265,000)
At 31 March 2024 53,310 1,980,959 54,366 2,088,635
Depreciation
At 1 November 2022 53,310 967,814 58,160 1,079,284
Charge for the period - 189,471 3,969 193,440
On disposals - (250,000) (15,000) (265,000)
At 31 March 2024 53,310 907,285 47,129 1,007,724
Net book value
At 31 March 2024 - 1,073,674 7,237 1,080,911
At 31 October 2022 - 746,145 11,206 757,351
4 Debtors 2024 2022
£ £
Trade debtors 762,588 300,110
Amounts owed by group undertakings and undertakings in which the company has a participating interest 774,312 672,312
Other debtors 641,158 452,316
2,178,058 1,424,738
5 Creditors: amounts falling due within one year 2024 2022
£ £
Bank loans and overdrafts 50,000 50,000
Obligations under finance lease and hire purchase contracts 263,463 192,089
Trade creditors 217,094 93,937
Taxation and social security costs 427,840 185,732
Other creditors 2,500 5,159
960,897 526,917
6 Creditors: amounts falling due after one year 2024 2022
£ £
Bank loans 62,500 133,332
Obligations under finance lease and hire purchase contracts 578,765 479,729
641,265 613,061
7 Loans 2024 2022
£ £
Creditors include:
Secured bank loans 112,500 183,332
The bank loan is secured by a fixed and floating charge over all assets.
8 Controlling party
The company is a wholly owned subsidiary of Orchestra Asset Holdings Limited of 7 Bell Yard, London WC2A 2JR.
9 Other information
R J Crane Hire Limited is a private company limited by shares and incorporated in England. Its registered office is:
Norwich Road
Lenwade
Norwich
Norfolk
NR9 5SH
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