LGR Crane Services Ltd. 12732285 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Repair of crane machinery Digita Accounts Production Advanced 6.30.9574.0 true 12732285 2024-04-01 2025-03-31 12732285 2025-03-31 12732285 core:RetainedEarningsAccumulatedLosses 2025-03-31 12732285 core:ShareCapital 2025-03-31 12732285 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-03-31 12732285 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-03-31 12732285 core:CurrentFinancialInstruments 2025-03-31 12732285 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 12732285 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 12732285 core:FurnitureFittingsToolsEquipment 2025-03-31 12732285 core:LandBuildings 2025-03-31 12732285 core:MotorVehicles 2025-03-31 12732285 bus:SmallEntities 2024-04-01 2025-03-31 12732285 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 12732285 bus:FilletedAccounts 2024-04-01 2025-03-31 12732285 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12732285 bus:RegisteredOffice 2024-04-01 2025-03-31 12732285 bus:Director3 2024-04-01 2025-03-31 12732285 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12732285 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 12732285 core:LandBuildings 2024-04-01 2025-03-31 12732285 core:LeaseholdImprovements 2024-04-01 2025-03-31 12732285 core:MotorVehicles 2024-04-01 2025-03-31 12732285 core:OfficeEquipment 2024-04-01 2025-03-31 12732285 core:PlantMachinery 2024-04-01 2025-03-31 12732285 countries:EnglandWales 2024-04-01 2025-03-31 12732285 2024-03-31 12732285 core:FurnitureFittingsToolsEquipment 2024-03-31 12732285 core:LandBuildings 2024-03-31 12732285 core:MotorVehicles 2024-03-31 12732285 2023-04-01 2024-03-31 12732285 2024-03-31 12732285 core:RetainedEarningsAccumulatedLosses 2024-03-31 12732285 core:ShareCapital 2024-03-31 12732285 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 12732285 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 12732285 core:CurrentFinancialInstruments 2024-03-31 12732285 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12732285 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 12732285 core:FurnitureFittingsToolsEquipment 2024-03-31 12732285 core:LandBuildings 2024-03-31 12732285 core:MotorVehicles 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 12732285

LGR Crane Services Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

LGR Crane Services Ltd.

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

LGR Crane Services Ltd.

(Registration number: 12732285)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

203,207

198,685

Current assets

 

Stocks

5

109,850

111,558

Debtors

6

237,853

226,759

Cash at bank and in hand

 

79,306

35,485

 

427,009

373,802

Creditors: Amounts falling due within one year

7

(248,794)

(248,007)

Net current assets

 

178,215

125,795

Total assets less current liabilities

 

381,422

324,480

Creditors: Amounts falling due after more than one year

7

(143,115)

(122,132)

Provisions for liabilities

(46,173)

(42,288)

Net assets

 

192,134

160,060

Capital and reserves

 

Called up share capital

10

10

Retained earnings

192,124

160,050

Shareholders' funds

 

192,134

160,060

For the financial year ending 31 March 2025 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 and 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 7 July 2025 and signed on its behalf by:
 

.........................................
Mr L Romagnuolo
Director

 

LGR Crane Services Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
Shire House
Gowdall Lane
Pollington
Goole
DN14 0AU

These financial statements were authorised for issue by the Board on 7 July 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements have been prepared in sterling and are rounded to the nearest 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

 

LGR Crane Services Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The corporation 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Short leasehold land and buildings

15% Straight line

Plant & machinery

20% Straight line

Motor vehicles

25% Straight line

Office Equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

LGR Crane Services Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 12 (2024 - 10).

 

LGR Crane Services Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

11,848

71,364

278,738

361,950

Additions

-

859

93,225

94,084

Disposals

-

-

(9,000)

(9,000)

At 31 March 2025

11,848

72,223

362,963

447,034

Depreciation

At 1 April 2024

3,387

30,523

129,355

163,265

Charge for the year

1,781

14,896

68,002

84,679

Eliminated on disposal

-

-

(4,117)

(4,117)

At 31 March 2025

5,168

45,419

193,240

243,827

Carrying amount

At 31 March 2025

6,680

26,804

169,723

203,207

At 31 March 2024

8,461

40,841

149,383

198,685

Included within the net book value of land and buildings above is £6,680 (2024 - £8,461) in respect of short leasehold land and buildings.
 

5

Stocks

2025
£

2024
£

Work in progress

109,850

111,558

6

Debtors

Current

2025
£

2024
£

Trade debtors

230,792

218,644

Prepayments

7,061

8,115

 

237,853

226,759

 

LGR Crane Services Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

59,272

43,787

Trade creditors

 

117,265

159,378

Taxation and social security

 

68,814

37,485

Accruals and deferred income

 

3,415

3,250

Other creditors

 

28

4,107

 

248,794

248,007

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

143,115

122,132

8

Loans and borrowings

2025
£

2024
£

Non-current loans and borrowings

Hire purchase contracts

143,115

122,132

2025
£

2024
£

Current loans and borrowings

Hire purchase contracts

56,782

41,414

Other borrowings

2,490

2,373

59,272

43,787

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £51,667 (2024 - £71,667). The nature of the financial commitment is for the workings premises.