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REGISTERED NUMBER: 04684573 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Shires Crane Hire Limited

Shires Crane Hire Limited (Registered number: 04684573)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shires Crane Hire Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mrs L K Sargeant





REGISTERED OFFICE: Shires Crane Hire
Sheepbridge Works
Chesterfield
Derbyshire
S41 9RX





REGISTERED NUMBER: 04684573 (England and Wales)





ACCOUNTANTS: Hadfields Chartered Certified Accountants
Commerce House
658B Chatsworth Road
Chesterfield
Derbyshire
S40 3JZ

Shires Crane Hire Limited (Registered number: 04684573)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 210,959 213,661
210,959 213,661

CURRENT ASSETS
Stocks 3,026 1,236
Debtors 6 85,706 71,095
Cash at bank 115,634 122,673
204,366 195,004
CREDITORS
Amounts falling due within one year 7 194,703 239,903
NET CURRENT ASSETS/(LIABILITIES) 9,663 (44,899 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

220,622

168,762

CREDITORS
Amounts falling due after more than one
year

8

(40,236

)

(18,750

)

PROVISIONS FOR LIABILITIES (36,357 ) (40,484 )
NET ASSETS 144,029 109,528

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 143,929 109,428
SHAREHOLDERS' FUNDS 144,029 109,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Shires Crane Hire Limited (Registered number: 04684573)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2024 and were signed by:





Mrs L K Sargeant - Director


Shires Crane Hire Limited (Registered number: 04684573)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Shires Crane 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
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, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten 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 - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Shires Crane Hire Limited (Registered number: 04684573)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 25,000
AMORTISATION
At 1 March 2023
and 29 February 2024 25,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

Shires Crane Hire Limited (Registered number: 04684573)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 338,500 799 5,883 2,671 347,853
Additions 63,000 - 15,450 233 78,683
Disposals (82,500 ) - - - (82,500 )
At 29 February 2024 319,000 799 21,333 2,904 344,036
DEPRECIATION
At 1 March 2023 126,923 614 4,781 1,874 134,192
Charge for year 46,282 28 2,173 236 48,719
Eliminated on disposal (49,834 ) - - - (49,834 )
At 29 February 2024 123,371 642 6,954 2,110 133,077
NET BOOK VALUE
At 29 February 2024 195,629 157 14,379 794 210,959
At 28 February 2023 211,577 185 1,102 797 213,661

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2023 130,000 - 130,000
Additions 63,000 14,650 77,650
At 29 February 2024 193,000 14,650 207,650
DEPRECIATION
At 1 March 2023 43,647 - 43,647
Charge for year 28,527 1,831 30,358
At 29 February 2024 72,174 1,831 74,005
NET BOOK VALUE
At 29 February 2024 120,826 12,819 133,645
At 28 February 2023 86,353 - 86,353

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 74,638 64,815
Amounts owed by associates - 1,530
Other debtors 11,068 4,750
85,706 71,095

Shires Crane Hire Limited (Registered number: 04684573)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 29,311 39,183
Hire purchase contracts 28,629 12,499
Trade creditors 27,671 22,018
Amounts owed to associates 35,953 78,011
Taxation and social security 20,914 6,338
Other creditors 52,225 81,854
194,703 239,903

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 40,236 18,750

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the following transactions were made with The Ridings UK Ltd, a Company which is owned by the directors of Shires Crane Hire Limited;


29.02.24 28.02.23
£ £

Purchases from The Ridings UK Ltd 1,500 45,000

Sales to The Ridings UK Ltd 0 4,850



As at 29/02/24 Shires Crane Hire Ltd owed The Ridings UK Ltd £33,883 (2022 : £78,011).


During the year the following transactions were made with Shires Plant & Equipment Ltd, a company which is owned by the directors of Shires Crane Hire Limited;

29.02.2024 28.02.23

Purchases from Shires Plant & Equipment Ltd NIL 1,850

Sales to Shires Plant & Equipment Ltd NIL NIL