Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31falsefalse22truetruetruetruefalse2023-08-01Sale and hire of machines and spare parts to the construction industry and reconditioning of heavy plant21true 01251365 2023-08-01 2024-07-31 01251365 2022-08-01 2023-07-31 01251365 2024-07-31 01251365 2023-07-31 01251365 2022-08-01 01251365 2 2022-08-01 2023-07-31 01251365 5 2023-08-01 2024-07-31 01251365 5 2022-08-01 2023-07-31 01251365 d:CompanySecretary1 2023-08-01 2024-07-31 01251365 d:Director1 2023-08-01 2024-07-31 01251365 d:Director2 2023-08-01 2024-07-31 01251365 d:RegisteredOffice 2023-08-01 2024-07-31 01251365 d:Agent1 2023-08-01 2024-07-31 01251365 e:PlantMachinery 2023-08-01 2024-07-31 01251365 e:PlantMachinery 2024-07-31 01251365 e:PlantMachinery 2023-07-31 01251365 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01251365 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 01251365 e:MotorVehicles 2023-08-01 2024-07-31 01251365 e:MotorVehicles 2024-07-31 01251365 e:MotorVehicles 2023-07-31 01251365 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01251365 e:MotorVehicles e:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 01251365 e:FurnitureFittings 2023-08-01 2024-07-31 01251365 e:FurnitureFittings 2024-07-31 01251365 e:FurnitureFittings 2023-07-31 01251365 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01251365 e:FurnitureFittings e:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 01251365 e:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 01251365 e:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 01251365 e:CurrentFinancialInstruments 2024-07-31 01251365 e:CurrentFinancialInstruments 2023-07-31 01251365 e:Non-currentFinancialInstruments 2024-07-31 01251365 e:Non-currentFinancialInstruments 2023-07-31 01251365 e:CurrentFinancialInstruments e:WithinOneYear 2024-07-31 01251365 e:CurrentFinancialInstruments e:WithinOneYear 2023-07-31 01251365 e:Non-currentFinancialInstruments e:AfterOneYear 2024-07-31 01251365 e:Non-currentFinancialInstruments e:AfterOneYear 2023-07-31 01251365 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-07-31 01251365 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-07-31 01251365 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-07-31 01251365 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-07-31 01251365 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2024-07-31 01251365 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-07-31 01251365 e:ReportableOperatingSegment1 2023-08-01 2024-07-31 01251365 e:ReportableOperatingSegment1 2022-08-01 2023-07-31 01251365 e:ReportableOperatingSegment2 2023-08-01 2024-07-31 01251365 e:ReportableOperatingSegment2 2022-08-01 2023-07-31 01251365 e:ReportableOperatingSegment3 2023-08-01 2024-07-31 01251365 e:ReportableOperatingSegment3 2022-08-01 2023-07-31 01251365 e:ShareCapital 2024-07-31 01251365 e:ShareCapital 2023-07-31 01251365 e:ShareCapital 2022-08-01 01251365 e:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 01251365 e:RetainedEarningsAccumulatedLosses 2024-07-31 01251365 e:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 01251365 e:RetainedEarningsAccumulatedLosses 2023-07-31 01251365 e:RetainedEarningsAccumulatedLosses 2022-08-01 01251365 e:RetainedEarningsAccumulatedLosses 2 2022-08-01 2023-07-31 01251365 e:AcceleratedTaxDepreciationDeferredTax 2024-07-31 01251365 e:AcceleratedTaxDepreciationDeferredTax 2023-07-31 01251365 e:TaxLossesCarry-forwardsDeferredTax 2024-07-31 01251365 e:TaxLossesCarry-forwardsDeferredTax 2023-07-31 01251365 e:OtherDeferredTax 2024-07-31 01251365 e:OtherDeferredTax 2023-07-31 01251365 d:OrdinaryShareClass1 2023-08-01 2024-07-31 01251365 d:OrdinaryShareClass1 2024-07-31 01251365 d:OrdinaryShareClass1 2023-07-31 01251365 d:FRS102 2023-08-01 2024-07-31 01251365 d:Audited 2023-08-01 2024-07-31 01251365 d:FullAccounts 2023-08-01 2024-07-31 01251365 d:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 01251365 e:WithinOneYear 2024-07-31 01251365 e:WithinOneYear 2023-07-31 01251365 e:HirePurchaseContracts e:WithinOneYear 2024-07-31 01251365 e:HirePurchaseContracts e:WithinOneYear 2023-07-31 01251365 e:HirePurchaseContracts e:BetweenOneFiveYears 2024-07-31 01251365 e:HirePurchaseContracts e:BetweenOneFiveYears 2023-07-31 01251365 2 2023-08-01 2024-07-31 01251365 e:ShareCapital 2 2022-08-01 2023-07-31 01251365 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2024-07-31 01251365 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2023-07-31 01251365 f:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01251365










DELDEN CRANES LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
DELDEN CRANES LIMITED
 

COMPANY INFORMATION


Directors
S B Nyland 
S Nyland 




Company secretary
S B Nyland



Registered number
01251365



Registered office
111 Station Road

Selston

Nottinghamshire

NG16 6FF




Independent auditors
PKF Smith Cooper Audit Limited
Statutory Auditors

1 Prospect Place

Pride Park

Derby

DE24 8HG




Bankers
National Westminster Bank Plc
1 Chesterfield Road

Alfreton

Derbyshire

DE55 7ZR





 
DELDEN CRANES LIMITED
 

CONTENTS



Page
Strategic report
1
Directors' report
2 - 3
Independent auditors' report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10 - 11
Notes to the financial statements
12 - 27


 
DELDEN CRANES LIMITED
 

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024

Introduction
 
The directors present the strategic report for the year ended 31 July 2024.

Business review
 
The Company achieved revenues of £15,645,393, resulting in a pre-tax profit of £4,898,257. This performance reflects the ongoing progress and growth compared to the previous year.
In line with its commitment to sustainability and innovation, the Company continues to invest in emission-compliant cranes and advanced technology. These investments not only enhance operational efficiency but also align with environmental regulations and industry standards.
Additionally, the Company remains dedicated to investing in its people and staff. By providing continuous training and development opportunities, the Company ensures that its workforce is skilled, motivated, and capable of meeting the evolving demands of the industry.
The directors are confident that the Company is well-positioned in the market to continue supplying major construction projects. With a strong financial foundation, a focus on cutting-edge technology, and a commitment to its employees, the Company is poised to meet the demands of large-scale developments and maintain its competitive edge.

Principal risks and uncertainties
 
The primary business risks include competition from other suppliers and economic uncertainty in the UK. While the Company is experiencing strong demand for its products and services, potential challenges to future growth include labour supply issues, rising inflation, and higher interest rates.

Financial risk management
 
The Company's main sources of funding are bank balances and hire purchase facilities. 
Trade debtors are monitored daily to ensure accounts remain within agreed terms, and robust policies are in place for both new and existing customer accounts.

Key Performance Indicators
 
A range of key performance indicators are reviewed by the company management including those relating to turnover, gross profit, utilisation, employee numbers and external labour costs. The Company is satisfied that these KPIs are strengthening year on year.


This report was approved by the board on 28 January 2025 and signed on its behalf.



S Nyland
Director

Page 1

 
DELDEN CRANES LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024

The directors present their report and the financial statements for the year ended 31 July 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £3,574,380 (2023 - £3,434,231).

Ordinary dividends were paid amounting to £150,000 (2023: £200,000). The directors do not recommend payment of a further dividend. 

Directors

The directors who served during the year were:

S B Nyland 
S Nyland 

Future developments

There are no future developments, which the directors believe require disclosure.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 2

 
DELDEN CRANES LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditors

Under section 487(2) of the Companies Act 2006PKF Smith Cooper Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board on 28 January 2025 and signed on its behalf.
 





S Nyland
Director

Page 3

 
DELDEN CRANES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DELDEN CRANES LIMITED
 

Opinion


We have audited the financial statements of Delden Cranes Limited (the 'Company') for the year ended 31 July 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 July 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 4

 
DELDEN CRANES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DELDEN CRANES LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
DELDEN CRANES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DELDEN CRANES LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the Company and industry, we identify the key laws and regulations affecting the Company. We identified that the principal risk of fraud or non-compliance with laws and regulations related to:
• management bias in respect of accounting estimates;
• management override of control; and
• posting of unusual journals or transactions.
We focused on those areas that could give rise to a material misstatement in the Company financial statements.  
Our procedures included, but were not limited to:
• Enquiry of management and those charged with governance/review of correspondence around actual and                                                                                                      potential litigation and claims, including instances of non-compliance with laws and regulations and fraud; 
• Reviewing minutes of meetings of those charged with governance where available;
• Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations   and fraud/ and enquiries with third party advisors about potential claims;
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance   with applicable laws and regulations;
• Performing audit work over the risk of management override of controls, including testing of journal entries  and other adjustments for appropriateness, evaluating the business rationale of significant transactions    outside the normal course of business and reviewing accounting estimates for bias. In particular  
          depreciation and performing analytical procedures to identify any unexpected or unusual relationships 
          that might indicate material misstatement due to fraud.
 
It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Page 6

 
DELDEN CRANES LIMITED
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DELDEN CRANES LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Lucy Robinson (Senior statutory auditor)
for and on behalf of
PKF Smith Cooper Audit Limited
Statutory Auditors
1 Prospect Place
Pride Park
Derby
DE24 8HG

29 January 2025
Page 7

 
DELDEN CRANES LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024

2024
2023
Note
£
£

  

Turnover
 4 
15,645,393
12,593,857

Cost of sales
  
(7,937,434)
(6,833,608)

Gross profit
  
7,707,959
5,760,249

Administrative expenses
  
(2,863,586)
(2,279,645)

Other operating income
 5 
565,009
1,336,796

Operating profit
 6 
5,409,382
4,817,400

Interest receivable and similar income
 10 
30,177
13,809

Interest payable and similar expenses
 11 
(541,302)
(292,343)

Profit before tax
  
4,898,257
4,538,866

Tax on profit
 12 
(1,323,877)
(1,104,635)

Profit for the financial year
  
3,574,380
3,434,231

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 12 to 27 form part of these financial statements.

Page 8

 
DELDEN CRANES LIMITED
REGISTERED NUMBER: 01251365

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 14 
32,541,104
23,119,800

  
32,541,104
23,119,800

Current assets
  

Stocks
 15 
14,575
17,936

Debtors: amounts falling due within one year
 16 
3,382,263
2,138,691

Cash at bank and in hand
 17 
1,974,922
2,015,935

  
5,371,760
4,172,562

Creditors: amounts falling due within one year
 18 
(9,180,372)
(5,122,966)

Net current liabilities
  
 
 
(3,808,612)
 
 
(950,404)

Total assets less current liabilities
  
28,732,492
22,169,396

Creditors: amounts falling due after more than one year
 19 
(9,656,552)
(7,841,713)

Provisions for liabilities
  

Deferred tax
 22 
(4,041,389)
(2,717,512)

Net assets
  
15,034,551
11,610,171


Capital and reserves
  

Called up share capital 
 23 
12,000
12,000

Profit and loss account
 24 
15,022,551
11,598,171

  
15,034,551
11,610,171


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 January 2025.




S Nyland
Director

The notes on pages 12 to 27 form part of these financial statements.

Page 9

 
DELDEN CRANES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 August 2023
12,000
11,598,171
11,610,171



Profit for the year
-
3,574,380
3,574,380

Dividends: Equity capital
-
(150,000)
(150,000)


At 31 July 2024
12,000
15,022,551
15,034,551


The notes on pages 12 to 27 form part of these financial statements.

Page 10

 
DELDEN CRANES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 August 2022
15,000
8,360,940
8,375,940



Profit for the year
-
3,434,231
3,434,231

Dividends: Equity capital
-
(200,000)
(200,000)

Reduction of shares
(3,000)
3,000
-


At 31 July 2023
12,000
11,598,171
11,610,171


The notes on pages 12 to 27 form part of these financial statements.

Page 11

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Delden Cranes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 111 Station Road, Selston, Nottinghamshire, NG16 6FF. 
The Company's principal activity is the sales and hire of machines, primarily cranes, and the sale of spare parts to the construction industry and reconditioning of heavy plant.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The financial statements are prepared in sterling, which is the functional currency of the Company. These financial statements are rounded to the nearest £. 

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Delden Group Holdings Limited as at 31 July 2024 and these financial statements may be obtained from Companies House.

 
2.3

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future, being at least 12 months from the signing of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 

Page 12

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised at the fair value of the consideration received or receivable for the sale and hire of machines and is shown net of VAT and other sales related taxes. 
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. 
Revenue from hire contracts is recognised over the hire period. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. 

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
5% - 20%
Motor vehicles
-
20%
Fixtures and fittings
-
10% - 20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Financial instruments

Enter text here - user input
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Page 13

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)


Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Page 14

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)


 

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 15

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.13

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 16

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.15

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.16

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.17

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.18

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.19

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.20

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 17

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows: 
Depreciation 
Depreciation is calculated based on the expected useful economic life of the assets held by the Company. Management consider that for the hire machines held within plant and equipment this is 20 years.
Foreign exchange contracts 
Forward exchange contracts are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Crane hire
14,370,933
11,581,663

Machine sales
326,000
43,337

Spares, repairs and other
948,460
968,857

15,645,393
12,593,857


All turnover arose within the United Kingdom.


5.


Other operating income

2024
2023
£
£

Profit on the sale of fixed assets
565,009
1,336,796


Page 18

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange differences
(249)
(330)

Operating leases
40,000
40,000

Depreciation of owned tangible fixed assets
282,721
157,655

Depreciation of tangible fixed assets held under finance leases
1,337,857
1,076,032


7.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
15,100
12,000


8.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
1,056,508
890,184

Social security costs
114,641
89,041

Cost of defined contribution scheme
20,922
18,170

1,192,071
997,395


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2



Admin
7
7



Other
13
12

22
21

Page 19

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
65,496
55,000

Company contributions to defined contribution pension schemes
113
-

65,609
55,000


During the year retirement benefits were accruing to 1 director (2023 - NIL) in respect of defined contribution pension schemes.


10.


Interest receivable

2024
2023
£
£


Interest on bank deposits
30,177
13,809


11.


Interest payable and similar expenses

2024
2023
£
£


Interest on bank overdrafts and loans
13
-

Other loan interest payable
4,607
10,474

Interest on finance leases and hire purchase contracts
536,682
281,869

541,302
292,343

Page 20

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

12.


Taxation


2024
2023
£
£



Deferred tax


Origination and reversal of timing differences
1,323,870
1,104,635

Adjustments in respect of prior years
7
-

Total deferred tax
1,323,877
1,104,635


Tax on profit
1,323,877
1,104,635

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 21.01%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
4,898,257
4,538,866


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 21.01%)
1,224,564
953,616

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
1,339
1,458

Capital allowances for year in excess of depreciation
-
(124,160)

Adjustments to tax charge in respect of prior periods
7
-

Capital gains differences
132,585
279,593

Effect of change in corporation tax rate
-
176,499

Other tax adjustments, reliefs and transfers
(136,825)
(182,408)

Other permanent differences
386
37

Group relief surrendered
101,821
-

Total tax charge for the year
1,323,877
1,104,635


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 21

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

13.


Dividends

2024
2023
£
£


Final paid
150,000
200,000


14.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 August 2023
26,637,105
304,115
68,955
27,010,175


Additions
10,814,318
115,990
-
10,930,308


Transfers intra group
1,039,358
-
-
1,039,358


Disposals
(993,318)
(18,795)
-
(1,012,113)



At 31 July 2024

37,497,463
401,310
68,955
37,967,728



Depreciation


At 1 August 2023
3,669,698
152,770
67,907
3,890,375


Charge for the year on owned assets
220,606
61,067
1,048
282,721


Charge for the year on financed assets
1,337,857
-
-
1,337,857


Disposals
(65,534)
(18,795)
-
(84,329)



At 31 July 2024

5,162,627
195,042
68,955
5,426,624



Net book value



At 31 July 2024
32,334,836
206,268
-
32,541,104



At 31 July 2023
22,967,407
151,345
1,048
23,119,800

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
27,670,583
21,750,120

Page 22

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

15.


Stocks

2024
2023
£
£

Finished goods and goods for resale
14,575
17,936



16.


Debtors

2024
2023
£
£


Trade debtors
2,080,593
1,715,817

Other debtors
1,220,326
353,712

Prepayments and accrued income
81,344
69,162

3,382,263
2,138,691



17.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,974,922
2,015,935



18.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other borrowings (See note 20)
152,183
362,496

Trade creditors
2,648,482
1,138,195

Amounts owed to group undertakings
1,106,298
26,049

Other taxation and social security
26,542
31,707

Obligations under finance lease and hire purchase contracts
5,182,689
3,456,664

Other creditors
2,497
4,988

Accruals and deferred income
61,681
102,867

9,180,372
5,122,966


Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned. 
Amounts owed to group undertakings are repayable on demand and interest-free. 
 
Included in other creditors is a balance of £2,497 (2023: £768) which is a loan from a director, which is  repayable on demand and interest-free. See note 30 for further details.

Page 23

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

19.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other borrowings (see note 20)
677,817
30,208

Net obligations under finance leases and hire purchase contracts
8,978,735
7,811,505

9,656,552
7,841,713


Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned. 


20.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
152,183
362,496

Amounts falling due 1-2 years

Other loans
165,996
30,208

Amounts falling due 2-5 years

Other loans
497,988
-

Amounts falling due after more than 5 years

Other loans
13,833
-

830,000
392,704


Included in the above is a balance of £830,000 (2023: £Nil) representing a long term loan from a related party. See note 30 for further details. This loan is unsecured and interest is payable at 1% above the base rate. 

Page 24

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

21.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
5,182,689
3,456,664

Between 1-5 years
8,978,735
7,811,505

14,161,424
11,268,169

Finance lease payments represent rentals payable by the Company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for the contingent rental payments. 


22.


Deferred taxation




2024


£






At beginning of year
(2,717,512)


Charged to profit or loss
(1,323,877)



At end of year
(4,041,389)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(7,447,225)
(4,990,009)

Tax losses carried forward
3,405,790
2,272,472

Short term timing differences
46
25

(4,041,389)
(2,717,512)


The expected net reversal of deferred taxation assets and liabilities is not considered to be material.


23.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



12,000 (2023 - 12,000) Ordinary shares of £1.00 each
12,000
12,000


Page 25

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

24.


Reserves

Profit and loss account

Includes current and prior period retained profits and losses and is distributable. 


25.


Contingent liabilities

There is a group guarantee facility in place with other group companies relating to hire purchase agreements. At the year end, the outstanding guarantees under this facility in respect of other group companies totalled £226,834 (2023: £465,269) 


26.


Capital commitments


At 31 July 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
4,998,480
10,492,584


27.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £20,922 (2023 - £18,170). Contributions totalling £nil (2023 - £4,220) were payable to the fund at the balance sheet date and are included in creditors.


28.


Commitments under operating leases

At 31 July 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
30,000
30,000

During the year, the operating lease expense incurred was £40,000 (2023: £40,000)


29.Other financial commitments

At the year end, the Company was committed to an exchange from GBP to Yen through the use of forward exchange contracts for a value of £970,368. 

Page 26

 
DELDEN CRANES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

30.


Related party transactions

The Company has taken advantage of the exemption contained within FRS102.33.1A and has therefore not disclosed transactions or balances between itself and other wholly owned group companies of Delden Group Holdings Limited. 
At the year end, the Company owed £830,000 to an other related entity. This amount is included within other borrowings. This loan is secured against specific tangible fixed assets and interest is being charged at a rate of 1% above the base rate.  A loan with a close family member of the directors was repaid in the year totalling £392,704. 
During the year, there were transactions with close family members of the directors and the Company which totalled £161,056. There is a creditor of £5,000 owed at the year end.
During the year, key management personnel were remunerated £338,913. 
Included in other creditors is a balance of £2,497 (2023: £768) which is a loan from a director, which is  repayable on demand and interest-free. 


31.


Controlling party

The parent company is Delden Group Holdings Limited and its registered office is 111 Station Road, Selston, Nottingham, England, NG16 6FF. 
The parent undertaking of the smallest and largest group for which consolidated accounts are prepared is Delden Group Holdings Limited. Consolidated accounts are available from Companies House.


Page 27