REGISTERED NUMBER: 08755202 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Terranova Crane Sales Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A N Glover

REGISTERED OFFICE:

Bowenhurst Lane Mill Lane

Crondall

Farnham

GU10 5RP

REGISTERED NUMBER:

08755202 (England and Wales)

ACCOUNTANTS:

Ampersand Partnership Limited

Chancery House

41a Hanger Hill

Weybridge

Surrey

KT13 9XZ

FIXED ASSETS

Tangible assets

4

2,742,933

2,941,019

CURRENT ASSETS

Stocks

70,034

57,393

Debtors

427,691

403,688

Cash at bank and in hand

144,616

287,211

642,341

748,292

CREDITORS

Amounts falling due within one year

1,178,719

1,290,332

NET CURRENT LIABILITIES

(536,378

)

(542,040

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,206,555

2,398,979

CREDITORS

Amounts falling due after more than one year

(1,325,976

)

(1,625,694

)

PROVISIONS FOR LIABILITIES

6

(231,338

)

(136,611

)

NET ASSETS

649,241

636,674

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

649,240

636,673

SHAREHOLDERS' FUNDS

649,241

636,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2025 and were signed by:

A N Glover - Director

1.	STATUTORY INFORMATION

Terranova Crane Sales 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At the balance sheet date the company had net current liabilities of £536,378 (2024: £542,040). The financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the foreseeable future. The validity of this assumption depends on the forecast trading position and the continuing support of the company creditors to provide adequate financial support and by not seeking repayment of amounts owed to them. The directors have no reason to believe the forecasts are not achievable and creditor support is not forthcoming and accordingly believe it appropriate to prepare the financial statements on the going concern basis.

Turnover

Turnover represents the net invoiced value of crane hire services provided, excluding Value Added Tax. Crane hire services provided are invoiced as and when the hire takes place.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost

Plant and machinery etc

-

20% on cost, 7% on cost and over the life of the underlying asset

Stocks

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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2024 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

4,778,255

Additions

241,964

Disposals

(149,991

)

At 31 March 2025

4,870,228

DEPRECIATION

At 1 April 2024

1,837,236

Charge for year

377,122

Eliminated on disposal

(87,063

)

At 31 March 2025

2,127,295

NET BOOK VALUE

At 31 March 2025

2,742,933

At 31 March 2024

2,941,019

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2024

3,479,681

Additions

221,316

Disposals

(112,441

)

Transfer to ownership

(89,071

)

At 31 March 2025

3,499,485

DEPRECIATION

At 1 April 2024

946,628

Charge for year

302,558

Eliminated on disposal

(49,925

)

Transfer to ownership

(40,623

)

At 31 March 2025

1,158,638

NET BOOK VALUE

At 31 March 2025

2,340,847

At 31 March 2024

2,533,053

5.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

1,699,723

1,936,994

Invoice discount facilities

-

340,048

1,699,723

2,277,042

Amounts advanced in respect of sales invoices subject to an invoice discounting arrangement are secured by a fixed and floating charge over the assets and undertaking of the company.

Hire purchase liabilities are secured on the assets to which the contracts relate.

6.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

231,338

136,611

Deferred

tax

£

Balance at 1 April 2024

136,611

Provided during year

94,727

Balance at 31 March 2025

231,338

Deferred taxation is provided in respect of accelerated capital allowances, net of taxation losses carried forward.

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £41,000 (2024 - £40,000) were paid to the directors .

The director, AN Glover, has provided personal guarantees in the sum of £75,000 plus interest costs and charges in respect of the Invoice Discounting facility.

AN Glover

At the year end AN Glover was owed £56 (2024: £3,061) by the company.