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Registration number: 01936438


Mobile Telescopic Cranes Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Mobile Telescopic Cranes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Mobile Telescopic Cranes Limited

Company Information

Directors

G J Grocock

T J Grocock

J Grocock

Registered office

Sandbach Road
Cobridge
Stoke on Trent
ST6 2DF

Accountants

Howsons (Stoke) Limited
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

Mobile Telescopic Cranes Limited

(Registration number: 01936438)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

792,692

802,058

Current assets

 

Debtors

5

196,190

472,757

Cash at bank and in hand

 

202,218

263,358

 

398,408

736,115

Creditors: Amounts falling due within one year

6

(267,320)

(543,818)

Net current assets

 

131,088

192,297

Total assets less current liabilities

 

923,780

994,355

Creditors: Amounts falling due after more than one year

6

(77,102)

(162,295)

Provisions for liabilities

(195,327)

(196,281)

Net assets

 

651,351

635,779

Capital and reserves

 

Called up share capital

7

5

3

Retained earnings

651,346

635,776

Shareholders' funds

 

651,351

635,779

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

 

Mobile Telescopic Cranes Limited

(Registration number: 01936438)
Balance Sheet as at 30 June 2024

.........................................
G J Grocock
Director

.........................................
T J Grocock
Director

.........................................
J Grocock
Director

     
 

Mobile Telescopic Cranes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sandbach Road
Cobridge
Stoke on Trent
ST6 2DF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

 

Mobile Telescopic Cranes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Plant and machinery

10% reducing balance basis

Fixtures and fittings

15% reducing balance basis

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Mobile Telescopic Cranes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, 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 receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 11).

 

Mobile Telescopic Cranes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Fixtures and fittings
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 July 2023

13,282

65,300

1,329,987

1,408,569

Additions

-

13,000

64,880

77,880

At 30 June 2024

13,282

78,300

1,394,867

1,486,449

Depreciation

At 1 July 2023

9,700

40,060

556,751

606,511

Charge for the year

436

8,747

78,063

87,246

At 30 June 2024

10,136

48,807

634,814

693,757

Carrying amount

At 30 June 2024

3,146

29,493

760,053

792,692

At 30 June 2023

3,582

25,240

773,236

802,058

5

Debtors

2024
£

2023
£

Trade debtors

144,968

295,127

Prepayments

43,074

41,661

Other debtors

8,148

135,969

196,190

472,757

 

Mobile Telescopic Cranes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

106,640

106,640

Trade creditors

 

54,777

292,017

Taxation and social security

 

32,085

32,109

Other creditors

 

67,448

46,874

Directors' loan account

 

6,370

66,178

 

267,320

543,818

Due after one year

 

Loans and borrowings

77,102

162,295

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.05 each

55

3

55

3