REGISTERED NUMBER: 07248108 (England and Wales)

SOUTH WEST CRANE HIRE (2010) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A G R Jeffery

Mr D M Jeffery

Mr G K Prevett

REGISTERED OFFICE:

Tan Lane

St Thomas

EXETER

Devon

EX2 8EG

REGISTERED NUMBER:

07248108 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Tangible assets

5

6,322,736

4,715,588

CURRENT ASSETS

Stocks

100,193

99,201

Debtors

823,294

622,255

Cash at bank

268,442

93,100

1,191,929

814,556

CREDITORS

Amounts falling due within one year

3,351,129

1,878,280

NET CURRENT LIABILITIES

(2,159,200

)

(1,063,724

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,163,536

3,651,864

CREDITORS

Amounts falling due after more than one year

(2,359,259

)

(1,328,573

)

PROVISIONS FOR LIABILITIES

8

(566,000

)

(504,000

)

NET ASSETS

1,238,277

1,819,291

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,238,275

1,819,289

SHAREHOLDERS' FUNDS

1,238,277

1,819,291

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

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

The directors acknowledge their 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 Balance Sheet for the year ended 31 May 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 Board of Directors and authorised for issue on 3 December 2025 and were signed on its behalf by:

Mr A G R Jeffery - Director

1.	STATUTORY INFORMATION

South West Crane Hire (2010) 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 presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" 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.

Going Concern

The directors believe that the company is experiencing good levels of growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The director considers that there are no critical estimates used in the accounts preparation, as entries are backed up to subsequent supporting transactions.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and the rendering of services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset overs its estimated useful life. These rates also apply to assets held under a finance lease as the directors consider this appropriate.

Improvement to property - Straight line over 10 years or 5 years

Plant and machinery - Straight line over 15 years, 10 years or 5 years

Fixtures and fittings - Straight line over 5 years

Motor vehicles - Straight line over 10 years or 5 years

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Stocks

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

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

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

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Leases

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

The interest element of these obligations is charged to profit and 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.

At inception the Company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is a finance lease or an operating lease based on the substances of the arrangement.

Finance leases

Leases of assets that transfer substantially all the risks and rewards of ownership to the Company are classified as finance leases.

Assets held under finance leases are recognized initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation. Finance charges are deducted in measuring profit or loss.

Assets held under finance leases are included in tangible fixed assets and depreciated in accordance with the rates applied to owned assets. Assets are assessed for impairment at each reporting date.

Operating leases

Leases that do no transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Provisions for liabilities

Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary cost payable for the period of absence.

Employee benefits

Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2024 - 45 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2024

7,896,814

Additions

2,475,098

Disposals

(286,052

)

At 31 May 2025

10,085,860

DEPRECIATION

At 1 June 2024

3,181,226

Charge for year

759,660

Eliminated on disposal

(177,762

)

At 31 May 2025

3,763,124

NET BOOK VALUE

At 31 May 2025

6,322,736

At 31 May 2024

4,715,588

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

Totals

£

COST

At 1 June 2024

4,468,730

Additions

2,416,290

Disposals

(26,495

)

Transfer to ownership

(77,160

)

At 31 May 2025

6,781,365

DEPRECIATION

At 1 June 2024

992,972

Charge for year

525,230

Eliminated on disposal

(20,313

)

Transfer to ownership

(41,152

)

At 31 May 2025

1,456,737

NET BOOK VALUE

At 31 May 2025

5,324,628

At 31 May 2024

3,475,758

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

1,449,565

849,995

Between one and five years

2,218,851

1,303,001

3,668,416

2,152,996

Non-cancellable

operating leases

2025

2024

£

£

Within one year

60,750

60,750

Between one and five years

40,500

101,250

101,250

162,000

There were two agreements in place at the year end for the lease of sites which were not formalised with signed agreements. The total monthly commitment for these leases are £2,850 and it is not anticipated that these will lapse within the next 12 months.

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

3,668,416

2,152,996

The debts are secured against the individual assets they were used to finance. The aggregate net book value and cost of these is shown in note 5.

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

566,000

504,000

Deferred

tax

£

Balance at 1 June 2024

504,000

Provided during year

62,000

Balance at 31 May 2025

566,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2025 and 31 May 2024:

2025

2024

£

£

Mr D M Jeffery

Balance outstanding at start of year

-

-

Amounts advanced

4,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,000

-

Mr A G R Jeffery

Balance outstanding at start of year

(2,290

)

-

Amounts advanced

4,849

1,854

Amounts repaid

(2,521

)

(4,144

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

38

(2,290

)