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Registered number: 09463901
ODonnell Haulage & Crane Hire Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Unaudited Financial Statements
Contents
Page
Company Information 1
Accountants' Report 2
Statement of Financial Position 3—4
Notes to the Financial Statements 5—9
Page 1
Company Information
Director Michael Odonnell
Company Number 09463901
Registered Office Heathrow Truck Park
Old Uxbridge Road
West Hyde
Rickmansworth
WD3 9YB
Accountants Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
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Page 2
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of ODonnell Haulage & Crane Hire Limited For The Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ODonnell Haulage & Crane Hire Limited For The Year Ended 31 March 2024 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of ODonnell Haulage & Crane Hire Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of ODonnell Haulage & Crane Hire Limited and state those matters that we have agreed to state to the director of ODonnell Haulage & Crane Hire Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ODonnell Haulage & Crane Hire Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that ODonnell Haulage & Crane Hire Limited 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 or loss of ODonnell Haulage & Crane Hire Limited . You consider that ODonnell Haulage & Crane Hire Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of ODonnell Haulage & Crane Hire Limited . 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 financial statements.
Signed
21/11/2024
Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Page 2
Page 3
Statement of Financial Position
Registered number: 09463901
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,350,499 1,810,711
2,350,499 1,810,711
CURRENT ASSETS
Debtors 5 1,979,910 1,095,383
Cash at bank and in hand 844,300 1,181,026
2,824,210 2,276,409
Creditors: Amounts Falling Due Within One Year 6 (1,120,710 ) (988,012 )
NET CURRENT ASSETS (LIABILITIES) 1,703,500 1,288,397
TOTAL ASSETS LESS CURRENT LIABILITIES 4,053,999 3,099,108
Creditors: Amounts Falling Due After More Than One Year 7 (225,250 ) (199,878 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (533,053 ) (433,220 )
NET ASSETS 3,295,696 2,466,010
CAPITAL AND RESERVES
Called up share capital 10 1 1
Income Statement 3,295,695 2,466,009
SHAREHOLDERS' FUNDS 3,295,696 2,466,010
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Michael Odonnell
Director
21/11/2024
The notes on pages 5 to 9 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
1.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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1.5. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
1.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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1.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 7 (2023: 2)
7 2
3. Interest Payable
2024 2023
£ £
Bank loans and overdrafts 10,619 8,942
Finance charges payable under finance leases and hire purchase contracts 14,946 8,930
25,565 17,872
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 2,340,534 214,896 18,663 3,974 2,578,067
Additions 1,068,590 54,906 37,779 7,670 1,168,945
As at 31 March 2024 3,409,124 269,802 56,442 11,644 3,747,012
Depreciation
As at 1 April 2023 690,452 66,123 10,129 652 767,356
Provided during the period 570,381 46,640 10,503 1,633 629,157
As at 31 March 2024 1,260,833 112,763 20,632 2,285 1,396,513
Net Book Value
As at 31 March 2024 2,148,291 157,039 35,810 9,359 2,350,499
As at 1 April 2023 1,650,082 148,773 8,534 3,322 1,810,711
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 230,965 584,475
Prepayments and accrued income 19,342 -
Other debtors 5,200 50,000
VAT 117,928 80,952
373,435 715,427
...CONTINUED
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Due after more than one year
Other debtors 1,606,475 379,956
1,606,475 379,956
1,979,910 1,095,383
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 143,896 96,852
Trade creditors 646,538 566,033
Bank loans and overdrafts 50,001 50,001
Corporation tax 208,047 241,360
Other taxes and social security 41,069 21,021
Other creditors 17,184 348
Accruals and deferred income 3,000 2,500
Director's loan account 10,975 9,897
1,120,710 988,012
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 130,275 53,711
Bank loans 66,667 116,667
Other creditors 28,308 29,500
225,250 199,878
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year 143,896 96,852
Between one and five years 130,275 53,711
274,171 150,563
274,171 150,563
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9. Provisions for Liabilities
Deferred Tax
£
As at 1 April 2023 433,220
Increase/(Decrease) in the year 99,833
Balance at 31 March 2024 533,053
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Value Number 2024 2023
Allotted, called up and fully paid £ £ £
Ordinary Shares 1.00 1 1 1
11. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £647 (2022: £109) were due to the fund. They are included in Other Creditors.
12. Related Party Transactions
At the year end £1,606,475 (2023: £379,956) was owed to Aberfoyle Properties Ltd, a company in which Michael O'Donnell is a director. The balance is included within other debtors due in more than one year.
13. Ultimate Controlling Party
The company's ultimate controlling party is Michael O'Donnell by virtue of his ownership of 100% of the issued share capital in the company.
14. General Information
ODonnell Haulage & Crane Hire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09463901 . The registered office is Heathrow Truck Park, Old Uxbridge Road, West Hyde, Rickmansworth, WD3 9YB.
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