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COMPANY REGISTRATION NUMBER: 03333569
Able Crane Services Limited
Unaudited financial statements
30 April 2024
Able Crane Services Limited
Statement of financial position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
164,299
135,679
Current assets
Stocks
43,740
48,600
Debtors
6
381,053
390,603
Cash at bank and in hand
554,035
266,162
---------
---------
978,828
705,365
Creditors: amounts falling due within one year
7
( 380,083)
( 116,560)
---------
---------
Net current assets
598,745
588,805
---------
---------
Total assets less current liabilities
763,044
724,484
Provisions
Taxation including deferred tax
( 39,036)
( 24,534)
---------
---------
Net assets
724,008
699,950
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
723,008
698,950
---------
---------
Shareholders funds
724,008
699,950
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Able Crane Services Limited
Statement of financial position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
I E Gallop
Director
Company registration number: 03333569
Able Crane Services Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales, registration number 03333569 . The address of the registered office is The Gables, Old Market Street, Thetford, Norfolk, IP24 2EN. The trading address is 22 Roman Way, Thetford, Norfolk, IP24 1XB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of employees during the year was 14 (2023: 13 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023
5,113
262,098
267,211
Additions
111,608
111,608
Disposals
( 49,759)
( 49,759)
------
---------
---------
At 30 April 2024
5,113
323,947
329,060
------
---------
---------
Depreciation
At 1 May 2023
2,685
128,847
131,532
Charge for the year
364
43,303
43,667
Disposals
( 10,438)
( 10,438)
------
---------
---------
At 30 April 2024
3,049
161,712
164,761
------
---------
---------
Carrying amount
At 30 April 2024
2,064
162,235
164,299
------
---------
---------
At 30 April 2023
2,428
133,251
135,679
------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
347,885
363,227
Other debtors
33,168
27,376
---------
---------
381,053
390,603
---------
---------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Other debtors
13,000
13,000
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
75,339
45,135
Social security and other taxes
81,390
64,232
Other creditors
223,354
7,193
---------
---------
380,083
116,560
---------
---------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
27,131
28,091
Later than 1 year and not later than 5 years
6,783
33,915
-------
-------
33,914
62,006
-------
-------
9. Pension commitments
The company operates a defined contribution pension scheme for the benefit of the director and employees. The assets of the scheme are administered by trustees in a fund independent from those of the company. The amount paid by the company during the year amounted to £17,225 (2023: £15,878).
10. Directors' advances, credits and guarantees
At the balance sheet date £8,960 (2023: £263) was owed to the company by the directors. The loan has since been repaid.