Registered number
07501842
Kingscroft Concrete & Grab Hire Limited
Filleted Accounts
31 March 2024
Kingscroft Concrete & Grab Hire Limited
Registered number: 07501842
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 576,719 544,379
Current assets
Stocks 23,092 23,394
Debtors 4 262,926 334,385
Cash at bank and in hand 169,747 135,005
455,765 492,784
Creditors: amounts falling due within one year 5 (360,824) (389,873)
Net current assets 94,941 102,911
Total assets less current liabilities 671,660 647,290
Creditors: amounts falling due after more than one year 6 (81,226) (123,776)
Provisions for liabilities (109,577) (103,432)
Net assets 480,857 420,082
Capital and reserves
Called up share capital 100 100
Profit and loss account 480,757 419,982
Shareholders' funds 480,857 420,082
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.
Mr W Perry
Director
Approved by the board on 25 November 2024
Kingscroft Concrete & Grab Hire Limited
Notes to the Accounts
for the year ended 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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 evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 4 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 1,200,810 44,298 1,245,108
Additions 263,000 - 263,000
Disposals (150,500) - (150,500)
At 31 March 2024 1,313,310 44,298 1,357,608
Depreciation
At 1 April 2023 670,722 30,007 700,729
Charge for the year 141,647 3,573 145,220
On disposals (65,060) - (65,060)
At 31 March 2024 747,309 33,580 780,889
Net book value
At 31 March 2024 566,001 10,718 576,719
At 31 March 2023 530,088 14,291 544,379
4 Debtors 2024 2023
£ £
Trade debtors 114,972 132,283
Other debtors 147,954 202,102
262,926 334,385
Amounts due after more than one year included above 148,497 202,257
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 81,669 141,862
Trade creditors 225,829 203,467
Taxation and social security costs 51,324 40,842
Other creditors 2,002 3,702
360,824 389,873
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,500 31,551
Obligations under finance lease and hire purchase contracts 58,726 92,225
81,226 123,776
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 140,395 234,087
The loans are secured against the assets for which the funding was obtained.
8 Events after the reporting date
The director authorised the financial statements for issue on 25 November 2024. The director was not aware of any adjusting or non adjusting events between 31 March 2024 and this date.
9 Related party transactions
During the year Mr W Perry and Ms L Jackson each received £41,000 (2023 - £42,000) of dividends.

As at 31 March 2024 there was an amount owing to Mr W Perry & Ms L Jackson of £698 (2023 - £54). This loan is interest free and repayable on demand.

The amount is included in other creditors.
10 Controlling party
During the period under review the company was under the control of Mr W Perry who is the sole director and 50% shareholder of Kingscroft Concrete & Grab Hire Limited.
11 Other information
Kingscroft Concrete & Grab Hire Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 33 Martindale
Cannock
Staffordshire
WS11 0JE
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