REGISTERED NUMBER: 04087619 (England and Wales)

FOR

Page

Company Information  

1

Strategic Report  

2

Report of the Directors  

4

Report of the Independent Auditors  

6

Statement of Comprehensive Income

10

Balance Sheet  

11

Statement of Changes in Equity  

12

Notes to the Financial Statements

13

DIRECTORS:

L Newton

J Jarrell

C R Patterson

SECRETARIES:

C R Patterson

E Burger

REGISTERED OFFICE:

Unit 1

Maes Y Clawdd

Maesbury Road Industrial Estate

Oswestry

Shropshire

SY10 8NN

REGISTERED NUMBER:

04087619 (England and Wales)

AUDITORS:

D.R.E. & Co. (Audit) Limited

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

During the year, the company reported a post tax profit of £43,603 (2023: post tax loss £1,094,132).

The main objectives for the company for 2025 is to increase market share in the UK, and to continue to expand throughout mainland Europe and beyond.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors of the company have an on-going review process which assesses all potential risks and uncertainties that are relative to the company both now and in the future.

Risks and uncertainties which may have the most material impact on the company include but are not limited to, foreign exchange risks caused by adverse movements in the value of the Great British Pound and the on-going political uncertainty in Europe.  Additionally, although no significant current impact, conflicts in eastern Europe as well as supply and energy disruptions from this and other regions may cause future economic uncertainty for the company.

SECTION 172(1) STATEMENT

Skyjack UK Limited is a leading sales and service provider of mobile elevating work platforms which endeavours to generate sustainable profits for shareholders, put its customers' interests first, support the communities in which it operates and invest in its employees. The Company strives to maintain a reputation for high standards of business conduct with all its stakeholders.

The Directors of Skyjack UK Limited, in line with their duties under s172 of the Companies Act 2006, act in a way they consider, in good faith, to promote the success of the Company for the benefit of its members as a whole. The Company, through dialogue with key stakeholders, considers the potential impact of the Company's operations on the environment, community, suppliers & the likely consequences of any decision in the long term.

KEY PERFORMANCE INDICATORS

The directors of the company review the performance of the company by utilising a number of internal performance management techniques specific to Skyjack UK Limited and the industry in which the company operates.

These include a strategic measuring program focused on a balanced approach to customer, employee and financial satisfaction and a regular financial pulse check and update of the company's key financial reporting.

STREAMLINED ENERGY AND CARBON REPORTING

The directors are required to report the following information under the UK Government's energy and carbon reporting framework. The energy consumption and carbon emissions are for the 12 month period ending 31 December 2024.

Energy source

Consumption

Scope

Emissions calculation

Gas

Total kWh (kilowatt-hours)

taken from supplier gas

invoices

86,369 kWh

Scope 1

86,369 kWh * 0.18290 (2024 natural gas

gross CV to kg CO2e conversion factor)

= 16 tCO2e

Electricity

Total kWh taken from

supplier electricity invoices

140,833 kWh

Scope 2

140,833 kWh * 0.20705 (2024 electricity

to kg CO2e conversion factor) = 29

tCO2e

Transport

Forklift petrol total litres

consumed & business travel

total litres of petrol

reimbursed

6,280 litres petrol or

59,459 kWh

Scope 1 & 3

6,280 litres petrol * 2.08440 (fuel petrol

to kg CO2e conversion factor) = 13

tCO2e

Transport

Business travel total litres of

diesel reimbursed

25,120 litres diesel

or 264,036 kWh

Scope 3

25,120 litres diesel * 2.51279 (fuel diesel

to kg CO2e conversion factor) = 63

tCO2e

Total

550,697 kWh

121 tCO2e

Intensity ratio

Emissions per £m

revenue

121 tCO2e/£45,400,258 revenue =  2.67

tCO2e per million pounds revenue

ON BEHALF OF THE BOARD:

C R Patterson - Director

29 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

RESEARCH AND DEVELOPMENT

The company is currently undertaking no research and development activities.

FUTURE DEVELOPMENTS

The company is expected to continue operations in future years with improved results.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

L Newton

J Jarrell

C R Patterson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

AUDITORS

The auditors,  D.R.E. & Co. (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C R Patterson - Director

29 September 2025

Opinion

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 UK, including the FRC'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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Strategic Report and the Report of the Directors 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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page four, 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 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.

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence,  capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, environmental agency legislation, employment law and health and safety law.

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and

- reviewing the client's system notes and internal controls.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- review of the cashbook to identify any large or unusual transactions that appear to have no commercial basis; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Report of the Auditors.

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 2006. Our 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 a Report of the Auditors 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.

Francis Nock F.C.C.A (Senior Statutory Auditor)

for and on behalf of D.R.E. & Co. (Audit) Limited

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

29 September 2025

TURNOVER

4

45,400,258

66,523,729

Cost of sales

(41,454,793

)

(61,852,201

)

GROSS PROFIT

3,945,465

4,671,528

Administrative expenses

(5,029,109

)

(5,396,669

)

(1,083,644

)

(725,141

)

Other operating income

577,217

756,338

OPERATING (LOSS)/PROFIT

6

(506,427

)

31,197

Interest receivable and similar income

1,685,229

3,651

1,178,802

34,848

Interest payable and similar expenses

(1,047,644

)

(1,469,077

)

PROFIT/(LOSS) BEFORE TAXATION

131,158

(1,434,229

)

Tax on profit/(loss)

7

(87,555

)

340,097

PROFIT/(LOSS) FOR THE FINANCIAL

YEAR

43,603

(1,094,132

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

43,603

(1,094,132

)

FIXED ASSETS

Tangible assets

8

9,965

13,872

Investments

9

807,982

807,982

817,947

821,854

CURRENT ASSETS

Stocks

10

13,124,666

27,313,035

Debtors

11

120,494,117

95,474,686

Cash in hand

355

11

133,619,138

122,787,732

CREDITORS

Amounts falling due within one year

12

82,295,656

71,423,945

NET CURRENT ASSETS

51,323,482

51,363,787

TOTAL ASSETS LESS CURRENT

LIABILITIES

52,141,429

52,185,641

CREDITORS

Amounts falling due after more than one

year

13

19,350,849

19,438,664

NET ASSETS

32,790,580

32,746,977

CAPITAL AND RESERVES

Called up share capital

16

2

2

Retained earnings

17

32,790,578

32,746,975

SHAREHOLDERS' FUNDS

32,790,580

32,746,977

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

C R Patterson - Director

Called up

share

Retained

Total

capital

earnings

equity

£   

£   

£   

Balance at 1 January 2023

2

33,841,107

33,841,109

Changes in equity

Total comprehensive income

-

(1,094,132

)

(1,094,132

)

Balance at 31 December 2023

2

32,746,975

32,746,977

Changes in equity

Total comprehensive income

-

43,603

43,603

Balance at 31 December 2024

2

32,790,578

32,790,580

1.

STATUTORY INFORMATION

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

The principal place of business is the company's registered office address.

2.

STATEMENT OF COMPLIANCE

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

3.

ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The company continues to finance its working capital requirements through intercompany loan advances from other group members. The directors have reviewed this position and are confident that this support will continue for the foreseeable future.

The financial statements are presented in Sterling (£), rounded to the nearest pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and

11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirements of paragraphs 29.28(b) and 29.29;

•

the requirements of paragraph 24(b) of IFRS 6.

Preparation of consolidated financial statements

Significant judgements and estimates

Turnover

Tangible fixed assets

Stock

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Deferred tax

Foreign currencies

Pension costs and other post-retirement benefits

Hire purchase and leasing commitments

Transactions in which the company acts as Lessor are included in other operating income.  Amounts outstanding at the balance sheet date, analysed between amounts due within one year and due after one year are included within debtors.  Income arising from hire purchase agreements are recognised in the income statement when receivable.

Rental payments under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Cash and cash equivalents

Cash and cash equivalents include cash on hand and short-term deposits with the term to maturity at the date of purchase of three months or less.

Debtors

Debtors are amounts due from customers for products sold or services performed in the ordinary course of business.  If collection is expected in one year or less, they are classified as current assets.  If not, they are presented as non-current assets.  Debtors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less allowances for doubtful accounts.  The allowance for doubtful accounts is determined by taking into consideration the age of the debt, the company's prior experience with the customer including their ability to pay, and/or an assessment of the current economic conditions. Debtors and allowance for doubtful accounts are written off when the balance is no longer considered to be collectible.

Investment in subsidiaries

Investments in subsidiaries are accounted for at cost less impairment.

4.

TURNOVER

5.

EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£   

£   

Wages and salaries

2,136,388

3,221,173

Social security costs

259,221

365,252

Other pension costs

105,636

208,887

2,501,245

3,795,312

The average number of employees during the year was as follows:

31.12.24

31.12.23

Administration

15

16

Sales

4

5

Service and parts

29

33

48

54

31.12.24

31.12.23