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Registered number: 08578873
STEVE FOSTER CRANES LTD
Financial Statements
For The Year Ended 30 June 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Financial Statements
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—8
Page 1
Company Information
Directors Mr Steven Foster
Mrs Helen Foster
Mr Steven Foster
Mrs Gemma Cashmore
Company Number 08578873
Registered Office 1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Accountants The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Page 1
Page 2
Statement of Financial Position
Registered number: 08578873
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 358 -
Tangible Assets 5 12,835,082 12,774,992
12,835,440 12,774,992
CURRENT ASSETS
Debtors 7 2,308,728 1,674,475
Cash at bank and in hand 640,082 1,111,278
2,948,810 2,785,753
Creditors: Amounts Falling Due Within One Year 8 (2,503,633 ) (2,943,898 )
NET CURRENT ASSETS (LIABILITIES) 445,177 (158,145 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,280,617 12,616,847
Creditors: Amounts Falling Due After More Than One Year 9 (1,791,291 ) (2,086,633 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (2,069,241 ) (2,042,957 )
NET ASSETS 9,420,085 8,487,257
CAPITAL AND RESERVES
Called up share capital 12 1,600 1,600
Income Statement 9,418,485 8,485,657
SHAREHOLDERS' FUNDS 9,420,085 8,487,257
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr Steven Foster
Director
Mrs Helen Foster
Director
Mr Steven Foster
Director
26th November 2024
The notes on pages 4 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
STEVE FOSTER CRANES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08578873 . The registered office is 1 Tape Street, Cheadle, Stoke On Trent, Staffordshire, ST10 1BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of .... years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to income statement over its estimated economic life of .... years.
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Page 5
2.6. 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:
Freehold 2% Reducing Balance
Leasehold 2% Reducing Balance
Plant & Machinery 25% Reducing Balance
Motor Vehicles 2% Reducing Balance
Fixtures & Fittings 2% Reducing Balance
Computer Equipment 2% Reducing Balance
2.7. 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.
2.8. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.9. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.10. 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.
...CONTINUED
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2.10. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 37 (2023: 36)
37 36
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 -
Additions 358
As at 30 June 2024 358
Net Book Value
As at 30 June 2024 358
As at 1 July 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 July 2023 1,793,374 576,439 11,772,618 14,142,431
Additions 233,006 158,946 2,819,655 3,211,607
Disposals - (448,866 ) (3,005,352 ) (3,454,218 )
As at 30 June 2024 2,026,380 286,519 11,586,921 13,899,820
Depreciation
As at 1 July 2023 181,413 445,853 740,173 1,367,439
Provided during the period 36,903 54,100 221,733 312,736
Disposals - (375,709 ) (239,728 ) (615,437 )
As at 30 June 2024 218,316 124,244 722,178 1,064,738
...CONTINUED
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Net Book Value
As at 30 June 2024 1,808,064 162,275 10,864,743 12,835,082
As at 1 July 2023 1,611,961 130,586 11,032,445 12,774,992
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,013,454 1,420,192
Prepayments and accrued income 150,744 189,283
Other debtors 115,000 65,000
VAT 29,530 -
2,308,728 1,674,475
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,048,721 1,364,397
Trade creditors 385,019 243,263
Bank loans and overdrafts - 11,457
Corporation tax 304,821 91,460
Other taxes and social security 40,605 45,255
VAT - 209,918
Other creditors - 148
Accruals and deferred income 43,664 32,903
Directors' loan accounts 680,803 945,097
2,503,633 2,943,898
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,791,291 1,876,453
Bank loans - 159,805
P Smith Ltd Loan - 50,375
1,791,291 2,086,633
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10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 2,069,241 2,042,957
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 July 2023 2,042,957 2,042,957
Deferred taxation 26,284 26,284
Balance at 30 June 2024 2,069,241 2,069,241
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,600 1,600
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