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REGISTERED NUMBER: 07960996 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

John Sutch Cranes Limited

John Sutch Cranes Limited (Registered number: 07960996)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


John Sutch Cranes Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A Lowrie
E Sutch
J Sutch
H Sutch-Ware



SECRETARY: E Sutch



REGISTERED OFFICE: Bridle House
1 Bridle Way
Bootle
Merseyside
L30 4UG



REGISTERED NUMBER: 07960996 (England and Wales)



AUDITORS: Haines Watts Liverpool Limited
Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ



BANKERS: HSBC
99-101 Lord Street
Liverpool
L2 6PG

John Sutch Cranes Limited (Registered number: 07960996)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 592,302 483,697
592,302 483,697

CURRENT ASSETS
Stocks 19,364 -
Debtors 6 2,687,986 2,138,890
Cash at bank 7 - 155,834
2,707,350 2,294,724
CREDITORS
Amounts falling due within one year 8 1,074,020 1,081,024
NET CURRENT ASSETS 1,633,330 1,213,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,225,632

1,697,397

CREDITORS
Amounts falling due after more than one
year

9

(1,186,548

)

(760,549

)

PROVISIONS FOR LIABILITIES (45,856 ) -
NET ASSETS 993,228 936,848

CAPITAL AND RESERVES
Called up share capital 11 1,266 1,266
Capital redemption reserve 12 38 38
Retained earnings 12 991,924 935,544
993,228 936,848

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2025 and were signed on its behalf by:





J Sutch - Director


John Sutch Cranes Limited (Registered number: 07960996)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

John Sutch Cranes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentational currency of the financial statements is the Pound Sterling. Monetary amounts in these financial statements are rounded to the nearest £.

2. ACCOUNTING POLICIES

Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover
Turnover represents amounts receivable for services provided during the year net of VAT and trade discounts.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are initially measured at costs and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Items of crane equipment purchased at a cost of more than £1,000 each are capitalised and depreciated, otherwise their costs are immediately written off as revenue expenditure.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings25% on cost
Plant and machinery25% on cost
Computer equipment25% on cost
Motor vehicles25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

John Sutch Cranes Limited (Registered number: 07960996)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Classification of 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 deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

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

John Sutch Cranes Limited (Registered number: 07960996)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated future cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial instruments are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 deducting all of its liabilities.

John Sutch Cranes Limited (Registered number: 07960996)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Group relief
Since more than 75% of the ordinary share capital of the company is owned and controlled by its parent company, J S Fleet Services Limited, both companies are eligible for group relief of losses. Under this arrangement, tax losses of one company are surrendered and offset against the taxable profits of the other company so as to minimise the total amount of corporation tax payable by the group companies.

No payment is made between the companies in respect of group relief.

John Sutch Cranes Limited (Registered number: 07960996)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

Leases
Leases are classified as finance leases whenever the terms of the leases transfer substantially all of the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. Te related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term o the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Retirement benefits
The company operates a defined pension contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expenses when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Distributions to equity holders
Dividends to the company's shareholders are recognised as a liability in the financial statements in the period in which they are approved and are recorded in the statement of changes in equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 86 (2023 - 77 ) .

John Sutch Cranes Limited (Registered number: 07960996)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 June 2023
and 31 May 2024 800,000
AMORTISATION
At 1 June 2023
and 31 May 2024 800,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 June 2023 691,679 40,930 556,743 224,257 1,513,609
Additions 33,850 4,850 322,435 - 361,135
Disposals - - (121,249 ) - (121,249 )
At 31 May 2024 725,529 45,780 757,929 224,257 1,753,495
DEPRECIATION
At 1 June 2023 392,508 15,399 452,228 169,777 1,029,912
Charge for year 34,068 8,700 189,689 19,519 251,976
Eliminated on disposal - - (120,695 ) - (120,695 )
At 31 May 2024 426,576 24,099 521,222 189,296 1,161,193
NET BOOK VALUE
At 31 May 2024 298,953 21,681 236,707 34,961 592,302
At 31 May 2023 299,171 25,531 104,515 54,480 483,697

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The net book value of assets held under finance leases amounts to £128,017 (2023: £169,452).

John Sutch Cranes Limited (Registered number: 07960996)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Trade debtors 1,856,109 1,819,015
Other debtors 584,294 85,122
Deferred tax asset - 9,440
Prepayments and accrued income 247,583 225,313
2,687,986 2,138,890

7. CASH AT BANK
31.5.24 31.5.23
£ £
Bank account no. 2 - 371
Bank account no. 4 - 155,463
- 155,834

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£ £
Bank loans and overdrafts 358,954 219,127
Finance leases (see note 10) 53,720 88,641
Trade creditors 445,742 533,551
Social security and other taxes 114,898 92,526
VAT - 41,900
Other creditors 41,373 46,177
Accruals and deferred income 59,333 59,102
1,074,020 1,081,024

The bank overdraft of £358,954 (2023 - £219,127) is secured by way of fixed floating charge dated 23 March 2022 on the assets of the company and by a Limited Guarantee given by the director's Mr J & Mrs E Sutch to the value of £250,000.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£ £
Finance leases (see note 10) 31,655 86,338
Amounts owed to group undertakings 1,154,893 674,211
1,186,548 760,549

John Sutch Cranes Limited (Registered number: 07960996)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
31.5.24 31.5.23
£ £
Net obligations repayable:
Within one year 53,720 88,641
Between one and five years 31,655 86,338
85,375 174,979

Non-cancellable
operating leases
31.5.24 31.5.23
£ £
Within one year 65,093 65,093
Between one and five years 111,987 191,721
177,080 256,814

The aggregate obligations (current and non-current) of £85,375 (2023 - £174,979) under finance leases and hire purchase agreements are secured against the assets to which they relate. The maturity of the obligations is disclosed above.

Finance lease payments represent rentals payable by the company for certain items of motor vehicles. 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 repayments basis and no arrangements have been entered into for contingent rental payments.

11. CALLED UP SHARE CAPITAL

Called up share capital represents the nominal value of shares that have been issued.

12. RESERVES
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 June 2023 935,543 38 935,581
Profit for the year 297,026 297,026
Dividends (240,645 ) (240,645 )
At 31 May 2024 991,924 38 991,962

Retained earnings includes all current and prior period retained profits and losses.

Capital redemption reserve includes the nominal value of shares repurchased and still held at the end of the year.

John Sutch Cranes Limited (Registered number: 07960996)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Timothy Cherry FCCA (Senior Statutory Auditor)
for and on behalf of Haines Watts Liverpool Limited

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends totalling £240,645 (2023 - £212,814) were paid in the year in respect of shares held by the company's directors.

At 31 May 2024, the Director's of the company had made interest free loans to the company amounting to £Nil (2023 - £Nil).

At 31 May 2024, the Director's of the company had received interest free loans from the company amounting to £39,267 (2023 - £38,767).

15. RELATED PARTY DISCLOSURES

The parent company of John Sutch Cranes Limited is J S Fleet Limited.

In the year, J S Fleet Limited charged rent of £144,000 (2023 - £144,000) and made sales of £2,260,000 (2023 - £2,200,000) to John Sutch Cranes Limited.

Included in creditors is the sum of £1,154,893 (2023 - £674,211) owed to the parent company.

J S Fleet Services Limited is the parent company of John Sutch Cranes Limited. The smallest group for which consolidated accounts are prepared which include John Sutch Cranes is J S Fllet Services Limited. J S Fleet Services Limited is a company incorporated in England & Wales whose accounts are publicly available. Copies of those accounts are available from the registered office which is 1 Bridle Road, Bootle, Merseyside, L30 4UG.

At 31 May 2024, included in Debtors is the sum of £4,556 (2023 - £3,298) and Creditors of £Nil (2023 - £384) relating to interest free loans to certain Shareholders of the company.

16. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J & Mrs E Sutch.

After the year end, J Sutch Holdings Limited became the new ultimate parent company. It was incorporated on 19 March 2024.