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REGISTERED NUMBER: 08903287 (England and Wales)














Unaudited Financial Statements

for the Year Ended 27 February 2024

for

Truck & Marine Cranes Limited

Truck & Marine Cranes Limited (Registered number: 08903287)






Contents of the Financial Statements
for the Year Ended 27 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Truck & Marine Cranes Limited (Registered number: 08903287)

Balance Sheet
27 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 746,447 469,629
746,448 469,630

CURRENT ASSETS
Stocks 974,975 1,494,785
Debtors 6 540,314 345,622
Cash at bank 541,356 108,991
2,056,645 1,949,398
CREDITORS
Amounts falling due within one year 7 1,089,891 1,009,679
NET CURRENT ASSETS 966,754 939,719
TOTAL ASSETS LESS CURRENT LIABILITIES 1,713,202 1,409,349

CREDITORS
Amounts falling due after more than one year 8 (416,541 ) (385,980 )

PROVISIONS FOR LIABILITIES (123,604 ) (54,291 )
NET ASSETS 1,173,057 969,078

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,173,056 969,077
1,173,057 969,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 October 2024 and were signed by:



Mr J Wain - Director


Truck & Marine Cranes Limited (Registered number: 08903287)

Notes to the Financial Statements
for the Year Ended 27 February 2024

1. STATUTORY INFORMATION

Truck & Marine Cranes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08903287

Registered office: Tower Crane Drive
Brookhouse Industrial Estate
Cheadle
Stoke-On-Trent
Staffordshire
ST10 1FB

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is recognised as an asset at cost.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery - 18% on reducing balance
Motor Vehicles - 18% on reducing balance
Office equipment - 20% 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 Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Truck & Marine Cranes Limited (Registered number: 08903287)

Notes to the Financial Statements - continued
for the Year Ended 27 February 2024

2. ACCOUNTING POLICIES - continued

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 30 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 28 February 2023
and 27 February 2024 1
NET BOOK VALUE
At 27 February 2024 1
At 27 February 2023 1

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Office
property Machinery Vehicles equipment Totals
£    £    £    £    £   
COST
At 28 February 2023 - 641,779 113,983 32,586 788,348
Additions 273,416 91,390 8,500 7,880 381,186
At 27 February 2024 273,416 733,169 122,483 40,466 1,169,534
DEPRECIATION
At 28 February 2023 - 248,239 51,788 18,692 318,719
Charge for year - 87,288 12,725 4,355 104,368
At 27 February 2024 - 335,527 64,513 23,047 423,087
NET BOOK VALUE
At 27 February 2024 273,416 397,642 57,970 17,419 746,447
At 27 February 2023 - 393,540 62,195 13,894 469,629

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 530,752 339,936
Other debtors 9,562 5,686
540,314 345,622

Truck & Marine Cranes Limited (Registered number: 08903287)

Notes to the Financial Statements - continued
for the Year Ended 27 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,007 20,014
Hire purchase contracts 56,863 28,837
Trade creditors 766,252 802,424
Taxation and social security 216,579 133,415
Other creditors 30,190 24,989
1,089,891 1,009,679

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 28,343 48,329
Hire purchase contracts 126,835 46,137
Other creditors 261,363 291,514
416,541 385,980

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 28,343 48,329
Other loans more 5yrs non-inst 261,363 291,514
289,706 339,843

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 183,698 74,974