Technical Cranes Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: 01552256

Technical Cranes Limited

Financial Statements

31 March 2025

Technical Cranes Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	3

Independent auditor's report to the members	5

Consolidated income statement	11

Consolidated statement of comprehensive income	12

Consolidated statement of financial position	13

Company statement of financial position	14

Consolidated statement of changes in equity	15

Company statement of changes in equity	16

Consolidated statement of cash flows	17

Notes to the financial statements	18

Technical Cranes Limited

Officers and Professional Advisers

The board of directors	D Simpson
	J Simpson
	K Robinson

Company secretary	Mrs K E Simpson

Registered office	Meadowbank Industrial Estate
	Harrison Street
	Rotherham
	England
	S61 1EE

Auditor	Allen, West and Foster
	Chartered accountants & statutory auditor
	Omega Court
	364-366 Cemetery Road
	Sheffield
	S11 8FT

Technical Cranes Limited

Strategic Report

Year ended 31 March 2025

Review of business

The group operated as a crane manufacturer, repairer and service provider throughout the year. The financial position for the year can be summarised as follows:

	2025	2024
	£	£
Sales	18,284,460	16,396,731
Gross profit	5,422,963	5,452,811
Operating profit/(loss)	1,630,045	1,806,799

The group has once more performed strongly throughout the year with an increase in turnover and both gross profit and operating profit being obtained. The directors are expecting performance to be tempered in the next financial year due to higher interest rates and reduced business confidence in the UK economy.

Principal risks and uncertainties

The principal risks and uncertainties are: i. The general economic environment impacting on customers' trading activities. ii. Continuing competition in the market. The group is, however, an established provider with a good reputation in the market area.

Key financial performance indicators

Financial key performance areas for the group are cost of sales, direct labour and sales. During the year the group showed an increase in turnover of 12% and the cost of sales and cost of labour as a percentage of sales increased by 3.5% and 2.5% respectively.

Future developments

The group intends to continue to consolidate its position as an established provider of crane manufacture, repair and related services. During the year the group purchased land and buildings at New Whittington Industrial Estate, Chesterfield to allow for continuation and expansion of operations as deemed necessary to achieve these stated aims as well as acquiring investment property and related income for the group.

This report was approved by the board of directors on 12 December 2025 and signed on behalf of the board by:

J Simpson

Director

Registered office:

Meadowbank Industrial Estate

Harrison Street

Rotherham

England

S61 1EE

Technical Cranes Limited

Directors' Report

Year ended 31 March 2025

The directors present their report and the financial statements of the group for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

D Simpson
J Simpson
K Robinson

Dividends

The directors do not recommend payment of a final dividend.

Disclosure of information in the strategic report

The company has chosen to set out in the company's strategic report information concerning future developments.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and the profit or loss of the group for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information. A resolution to reappoint Allen, West and Foster as auditors will be proposed at the forthcoming Annual General Meeting.

This report was approved by the board of directors on 12 December 2025 and signed on behalf of the board by:

J Simpson

Director

Registered office:

Meadowbank Industrial Estate

Harrison Street

Rotherham

England

S61 1EE

Technical Cranes Limited

Independent Auditor's Report to the Members of Technical Cranes Limited

Year ended 31 March 2025

Qualified opinion

We have audited the financial statements of Technical Cranes Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the consolidated income statement, consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, except for the effects of the matter described in the basis for qualified opinion section of our report, the financial statements: - give a true and fair view of the state of the group's and of the parent company's affairs as at 31 March 2025 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

The financial statements of the company for the year ended 31 March 2024 were qualified in reference to stock with a carrying value of £315,300 where the audit evidence available was limited in respect of completeness and valuation due to the inability to obtain evidence of the cost of individual items of stock due to the nature of the company's records. The March 2024 accounts were also qualified with reference to long term contracts. Deferred income of £300,238 and amounts recoverable on contracts of £178,201 were unable to be verified due to the nature of the company's records. There was insufficient audit evidence as to the degree of completion of each contract ongoing at the year end. Since these opening balances enter into the determination of the financial performance, we were unable to determine whether adjustments might have been necessary in respect of the profit reported for the year in the Consolidated Statement of Comprehensive Income. With reference to stock with a carrying value of £287,200 as at 31 March 2025, the audit evidence was limited in respect of valuation. Owing to the nature of the company's records, we were unable to obtain sufficient audit evidence regarding the cost price of the individual items of stock. With reference to long term contracts, deferred income of £109,799 as at 31 March 2025 was unable to be verified due to the nature of the company's records. There was insufficient audit evidence as to the degree of completion of each contract ongoing at the year end. In addition, were any adjustments required to stock, amounts recoverable on contracts or deferred income, the Group Strategic Report would also need to be amended. Otherwise we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified 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 auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 qualified 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 group's or the parent 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company 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 directors' responsibilities statement, 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 is 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor’s report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Identifying and assessing potential risks related to irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: Audit risks identified - the nature of the industry and sector, control environment and business performance; - results of our enquiries of management, about their own identification and assessment of the risks of irregularities; - any matters we identified having made enquiries about the documentation of their policies and procedures relating to: - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; - the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to income recognition, banking procedures and segregation of duties. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. Audit response to risks identified As a result of performing the above, we identified income recognition and banking controls due to lack of segregation of duties as key audit matters related to the potential risk of fraud. In order to mitigate the risk identified, discussions were held with key management personnel as to the processes surrounding the generation and recording of transactions and these were reviewed in detail by observation and enquiry. In addressing the risk of fraud through management override of controls, our procedures included reviewing and testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. Following review of a number of transactions throughout the financial year it was clear that there had been no management override of controls and that each transaction had been correctly and properly recorded as appropriate. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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 an auditor's report 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.

Stephen Allen ACA FCCA

(Senior Statutory Auditor)

For and on behalf of

Allen, West and Foster

Chartered accountants & statutory auditor

Omega Court

364-366 Cemetery Road

Sheffield

S11 8FT

12 December 2025

Technical Cranes Limited

Consolidated Income Statement

Year ended 31 March 2025

		2025	2024
Note		£	£
Turnover	4	18,284,460	16,396,731

Cost of sales	12,861,497	10,943,920
	------------	------------
Gross profit	5,422,963	5,452,811

Distribution costs		38,620	3,910
Administrative expenses		4,196,546	3,790,536
Other operating income	5	442,248	148,434
		-----------	-----------
Operating profit	6	1,630,045	1,806,799

Other interest receivable and similar income	10	7,071	70
Interest payable and similar expenses	11	413,931	211,265
		-----------	-----------
Profit before taxation		1,223,185	1,595,604

Tax on profit	12	231,570	377,582
		-----------	-----------
Profit for the financial year		991,615	1,218,022
		-----------	-----------

Profit for the financial year attributable to:

The owners of the parent company	935,714	1,116,589
Non-controlling interests	55,901	101,433
	---------	-----------
	991,615	1,218,022
	---------	-----------

All the activities of the group are from continuing operations.

Technical Cranes Limited

Consolidated Statement of Comprehensive Income

Year ended 31 March 2025

	2025	2024
	£	£
Profit for the financial year	991,615	1,218,022

	---------	-----------
Other comprehensive income for the year	–	–
	---------	-----------
Total comprehensive income for the year	991,615	1,218,022
	---------	-----------

Total comprehensive income for the year attributable to:

The owners of the parent company	935,714	1,116,589
Non-controlling interests	55,901	101,433
	---------	-----------
	991,615	1,218,022
	---------	-----------

Technical Cranes Limited

Consolidated Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	14	524,142	534,142
Tangible assets	15	11,023,185	6,504,047
		------------	-----------
		11,547,327	7,038,189

Current assets

Stocks	17	693,536	769,959
Debtors	18	3,595,893	2,876,802
Cash at bank and in hand		1,906,040	2,001,342
		-----------	-----------
		6,195,469	5,648,103

Creditors: amounts falling due within one year	19	4,203,741	3,607,570
		-----------	-----------
Net current assets		1,991,728	2,040,533
		------------	-----------
Total assets less current liabilities		13,539,055	9,078,722

Creditors: amounts falling due after more than one year	20	5,915,790	2,301,380

Provisions	22	436,373	323,765
		------------	-----------
Net assets		7,186,892	6,453,577
		------------	-----------

Capital and reserves

Called up share capital	25	100	100
Revaluation reserve	26	79,113	85,442
Other reserves	26	50	50
Profit and loss account	26	6,421,993	5,699,950
		-----------	-----------
Equity attributable to the owners of the parent company		6,501,256	5,785,542

Non-controlling interests	685,636	668,035
	-----------	-----------
	7,186,892	6,453,577
	-----------	-----------

These financial statements were approved by the board of directors and authorised for issue on 12 December 2025 , and are signed on behalf of the board by:

J Simpson

Director

Company registration number: 01552256

Technical Cranes Limited

Company Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	15	7,780,232	3,418,496
Investments	16	568,773	568,773
		-----------	-----------
		8,349,005	3,987,269

Current assets

Stocks	17	287,200	315,300
Debtors	18	2,119,286	1,430,402
Cash at bank and in hand		401,148	745,471
		-----------	-----------
		2,807,634	2,491,173

Creditors: amounts falling due within one year	19	2,086,188	1,557,157
		-----------	-----------
Net current assets		721,446	934,016
		-----------	-----------
Total assets less current liabilities		9,070,451	4,921,285

Creditors: amounts falling due after more than one year	20	4,414,249	760,014

Provisions	22	298,127	226,338
		-----------	-----------
Net assets		4,358,075	3,934,933
		-----------	-----------

Capital and reserves

Called up share capital	25	100	100
Revaluation reserve	26	79,113	85,442
Other reserves	26	50	50
Profit and loss account	26	4,278,812	3,849,341
		-----------	-----------
Shareholders funds		4,358,075	3,934,933
		-----------	-----------

The profit for the financial year of the parent company was £ 643,142 (2024: £ 419,190 ).

These financial statements were approved by the board of directors and authorised for issue on 12 December 2025 , and are signed on behalf of the board by:

J Simpson

Director

Company registration number: 01552256

Technical Cranes Limited

Consolidated Statement of Changes in Equity

Year ended 31 March 2025

			Called up share capital	Revaluation reserve	Other reserves	Profit and loss account	Equity attributable to the owners of the parent company	Non-controlling interests	Total
			£	£	£	£	£	£	£
At 1 April 2023			100	85,442	50	4,777,361	4,862,953	576,602	5,439,555

Profit for the year						1,116,589	1,116,589	101,433	1,218,022
			----	-------	----	-----------	-----------	---------	-----------
Total comprehensive income for the year			–	–	–	1,116,589	1,116,589	101,433	1,218,022

Dividends paid and payable		13	–	–	–	( 194,000)	( 194,000)	( 10,000)	( 204,000)
			----	-------	----	-----------	-----------	---------	-----------
Total investments by and distributions to owners			–	–	–	( 194,000)	( 194,000)	( 10,000)	( 204,000)

At 31 March 2024			100	85,442	50	5,699,950	5,785,542	668,035	6,453,577

Profit for the year						935,714	935,714	55,901	991,615
Other comprehensive income for the year:
	Reclassification from revaluation reserve to profit and loss account		–	( 6,329)	–	6,329	–	–	–
			----	-------	----	-----------	-----------	---------	-----------
Total comprehensive income for the year			–	( 6,329)	–	942,043	935,714	55,901	991,615

Dividends paid and payable		13	–	–	–	( 220,000)	( 220,000)	( 38,300)	( 258,300)
			----	----	----	---------	---------	-------	---------
Total investments by and distributions to owners			–	–	–	( 220,000)	( 220,000)	( 38,300)	( 258,300)

			----	-------	----	-----------	-----------	---------	-----------
At 31 March 2025			100	79,113	50	6,421,993	6,501,256	685,636	7,186,892
			----	-------	----	-----------	-----------	---------	-----------

Technical Cranes Limited

Company Statement of Changes in Equity

Year ended 31 March 2025

			Called up share capital	Revaluation reserve	Other reserves	Profit and loss account	Total
			£	£	£	£	£
At 1 April 2023			100	85,442	50	3,624,151	3,709,743

Profit for the year						419,190	419,190
			----	-------	----	-----------	-----------
Total comprehensive income for the year			–	–	–	419,190	419,190

Dividends paid and payable		13	–	–	–	( 194,000)	( 194,000)
			----	-------	----	-----------	-----------
Total investments by and distributions to owners			–	–	–	( 194,000)	( 194,000)

At 31 March 2024			100	85,442	50	3,849,341	3,934,933

Profit for the year						643,142	643,142
Other comprehensive income for the year:
	Reclassification from revaluation reserve to profit and loss account		–	( 6,329)	–	6,329	–
			----	-------	----	-----------	-----------
Total comprehensive income for the year			–	( 6,329)	–	649,471	643,142

Dividends paid and payable		13	–	–	–	( 220,000)	( 220,000)
			----	----	----	---------	---------
Total investments by and distributions to owners			–	–	–	( 220,000)	( 220,000)

			----	-------	----	-----------	-----------
At 31 March 2025			100	79,113	50	4,278,812	4,358,075
			----	-------	----	-----------	-----------

Technical Cranes Limited

Consolidated Statement of Cash Flows

Year ended 31 March 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	991,615	1,218,022

Adjustments for:
Depreciation of tangible assets	547,287	392,821
Amortisation of intangible assets	10,000	99,998
Other interest receivable and similar income	( 7,071)	( 70)
Interest payable and similar expenses	413,931	211,265
Loss/(gains) on disposal of tangible assets	2,753	( 58,535)
Tax on profit	231,570	377,582
Accrued expenses/(income)	55,754	( 192,231)

Changes in:
Stocks	76,423	( 9,144)
Trade and other debtors	( 729,603)	229,927
Trade and other creditors	328,724	180,972
	-----------	-----------
Cash generated from operations	1,921,383	2,450,607

Interest paid	( 413,931)	( 211,265)
Interest received	7,071	70
Tax paid	( 206,126)	( 234,653)
	-----------	-----------
Net cash from operating activities	1,308,397	2,004,759
	-----------	-----------

Cash flows from investing activities

Purchase of tangible assets	( 5,196,043)	( 1,419,355)
Proceeds from sale of tangible assets	126,865	127,628
Purchase of intangible assets	–	( 32,702)
	-----------	-----------
Net cash used in investing activities	( 5,069,178)	( 1,324,429)
	-----------	-----------

Cash flows from financing activities

Proceeds from borrowings	3,525,191	( 165,942)
Payments of finance lease liabilities	398,588	113,490
Dividends paid	( 258,300)	( 204,000)
	-----------	-----------
Net cash from/(used in) financing activities	3,665,479	( 256,452)
	-----------	-----------

Net (decrease)/increase in cash and cash equivalents	( 95,302)	423,878
Cash and cash equivalents at beginning of year	2,001,342	1,577,464
	-----------	-----------
Cash and cash equivalents at end of year	1,906,040	2,001,342
	-----------	-----------

Technical Cranes Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Meadowbank Industrial Estate, Harrison Street, Rotherham, S61 1EE, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of Technical Cranes Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Non-controlling interests

Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity. Minority interests consist of the amount of those interests at the date of the original business combination and the minority’s share of changes in equity since the date of the combination.

The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the minority interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Investment property is measured at fair value. The fair value is determined by external independent valuation experts using recognised valuation techniques as defined by the Royal Institution of Chartered Surveyors. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Determination of depreciation methodologies. The useful life of each class of assets within the group has been estimated with reference to those applied within similar organisations whilst making consideration of the assets within each class and their specific use.

Revenue recognition

Turnover represents the value of work done for which the company has earned the right to consideration in exchange for performance. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	33% Straight line
Other intangible assets	-	Fully amortised in the year of acquisition

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	3% and 2% Straight line
Plant and machinery	-	25%/20%/10% on Reducing balance and 10% on Straight line
Motor vehicles	-	25% on Reducing balance
Equipment	-	33% on Reducing balance and 33% Straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.

Investments in joint ventures

Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint venture.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Rendering of services	18,284,460	16,396,731
	------------	------------

The whole of the turnover is derived from the United Kingdom. An analysis of turnover by business operation is given below:

	2025	2024
	£	£
United Kingdom	18,024,627	16,366,456
Europe	259,833	30,275
	------------	------------
	18,284,460	16,396,731
	------------	------------

5. Other operating income

	2025	2024
	£	£
Rental income	433,731	147,285
Other operating income	8,517	1,149
	---------	---------
	442,248	148,434
	---------	---------

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Amortisation of intangible assets	10,000	99,998
Depreciation of tangible assets	547,287	392,821
Loss/(gains) on disposal of tangible assets	2,753	( 58,535)
Impairment of trade debtors	10,645	14,541
Operating lease rentals	3,396	3,396
Foreign exchange differences	( 52,444)	7,187
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	11,725	11,175
	-------	-------

8. Staff costs

The average number of persons employed by the group during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	100	90
Administrative staff	18	22
Management staff	3	2
	----	----
	121	114
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	5,947,120	4,958,988
Social security costs	622,319	525,448
Other pension costs	156,500	134,110
	-----------	-----------
	6,725,939	5,618,546
	-----------	-----------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	107,482	78,755
Company contributions to defined contribution pension plans	3,119	2,326
	---------	-------
	110,601	81,081
	---------	-------

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on bank deposits	1,726	70
Other interest receivable and similar income	5,345	–
	------	----
	7,071	70
	------	----

11. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	350,311	169,990
Interest on obligations under finance leases and hire purchase contracts	63,610	40,465
Other interest payable and similar charges	10	810
	---------	---------
	413,931	211,265
	---------	---------

12. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	108,450	274,395

Deferred tax:

Origination and reversal of timing differences	123,120	103,187
	---------	---------
Tax on profit	231,570	377,582
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	1,223,185	1,595,604
	-----------	-----------
Profit on ordinary activities by rate of tax	305,797	398,902
Adjustment to tax charge in respect of prior periods	( 97,622)	( 125,391)
Effect of expenses not deductible for tax purposes	1,032	2,905
Depreciation of assets ineligible for capital allowances	22,363	19,630
Effect of enhanced capital allowances	–	( 2,212)
Effect of change in main rate of corporation tax	–	83,748
	-----------	-----------
Tax on profit	231,570	377,582
	-----------	-----------

13. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	258,300	204,000
	---------	---------

14. Intangible assets

Group	Goodwill	Other intangible assets	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	935,734	40,706	976,440
	---------	-------	---------
Amortisation
At 1 April 2024	411,592	30,706	442,298
Charge for the year	–	10,000	10,000
	---------	-------	---------
At 31 March 2025	411,592	40,706	452,298
	---------	-------	---------
Carrying amount
At 31 March 2025	524,142	–	524,142
	---------	-------	---------
At 31 March 2024	524,142	10,000	534,142
	---------	-------	---------

Company	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	35,125
	-------
Amortisation
At 1 April 2024 and 31 March 2025	35,125
	-------
Carrying amount
At 1 April 2024 and 31 March 2025	–
	-------
At 31 March 2024	–
	-------

15. Tangible assets

Group	Freehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	5,608,016	928,430	1,430,645	75,944	8,043,035
Additions	4,144,144	68,639	967,896	15,364	5,196,043
Disposals	–	–	( 274,904)	–	( 274,904)
	-----------	---------	-----------	-------	------------
At 31 March 2025	9,752,160	997,069	2,123,637	91,308	12,964,174
	-----------	---------	-----------	-------	------------
Depreciation
At 1 April 2024	341,058	405,754	740,090	52,086	1,538,988
Charge for the year	103,797	72,603	359,100	11,787	547,287
Disposals	–	–	( 145,286)	–	( 145,286)
	-----------	---------	-----------	-------	------------
At 31 March 2025	444,855	478,357	953,904	63,873	1,940,989
	-----------	---------	-----------	-------	------------
Carrying amount
At 31 March 2025	9,307,305	518,712	1,169,733	27,435	11,023,185
	-----------	---------	-----------	-------	------------
At 31 March 2024	5,266,958	522,676	690,555	23,858	6,504,047
	-----------	---------	-----------	-------	------------

Company	Freehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	2,871,204	488,970	801,806	31,287	4,193,267
Additions	4,135,712	19,384	653,132	5,113	4,813,341
Disposals	–	–	( 266,154)	–	( 266,154)
	-----------	---------	-----------	-------	-----------
At 31 March 2025	7,006,916	508,354	1,188,784	36,400	8,740,454
	-----------	---------	-----------	-------	-----------
Depreciation
At 1 April 2024	152,288	203,945	396,600	21,938	774,771
Charge for the year	60,888	30,441	233,410	2,169	326,908
Disposals	–	–	( 141,457)	–	( 141,457)
	-----------	---------	-----------	-------	-----------
At 31 March 2025	213,176	234,386	488,553	24,107	960,222
	-----------	---------	-----------	-------	-----------
Carrying amount
At 31 March 2025	6,793,740	273,968	700,231	12,293	7,780,232
	-----------	---------	-----------	-------	-----------
At 31 March 2024	2,718,916	285,025	405,206	9,349	3,418,496
	-----------	---------	-----------	-------	-----------

Investment property comprises a property which is partially occupied and partially let to a third party. The investment property portion of the property was valued by the directors in March 2020 at an open market value of £345,000 based on the proportional value of the entire property obtained from the value assigned when putting the property on the market. The directors are of the opinion that the valuation is unchanged at 31 March 2025.

Included in the cost of land and buildings is freehold land of £648,599 (2024: £450,210) which is not depreciated.

16. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	568,773
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 1 April 2024 and 31 March 2025	568,773
	---------
At 31 March 2024	568,773
	---------

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
A&B Crane and Electrical Services Limited	Meadowbank Industrial Estate	Ordinary	70
	Harrison Street
	Rotherham
	S61 1EE
Clayton Hoists Limited	Meadowbank Industrial Estate	Ordinary	70
	Harrison Street
	Rotherham
	S61 1EE

E&C Crane Engineering Limited	Meadowbank Industrial Estate	Ordinary	100
	Harrison Street
	Rotherham
	S61 1EE
Cobal (Cranes) Limited	8 Roman Ridge Road	Ordinary	70
	Sheffield
	S9 1GB
Dynamic Die and Steel (Sheffield) Limited	Meadowbank Industrial Estate	Ordinary	100
	Harrison Street
	Rotherham
	S61 1EE
Chesterfield Crane Co. Limited	Meadowbank Industrial Estate	Ordinary	70
	Harrison Street
	Rotherham
	S61 1EE
Pelloby Premier Cranes Limited	Technical Cranes Limited	Ordinary	70
	Harrison Street
	Rotherham
	England
	S61 1EE
A G Cranes Limited	Excalibur Offices Securehold Business Centre	Ordinary	100
	Studley Road
	Redditch
	England
	B98 7LG

17. Stocks

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Raw materials and consumables	693,536	769,959	287,200	315,300
	---------	---------	---------	---------

18. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	3,490,521	2,508,597	2,000,443	903,470
Amounts owed by group undertakings	–	–	40,000	300,000
Amounts owed by customers on construction contracts	–	259,150	–	178,201
Prepayments and accrued income	52,869	19,314	27,840	6,386
Directors loan account	–	7,000	–	–
Other debtors	52,503	82,741	51,003	42,345
	-----------	-----------	-----------	-----------
	3,595,893	2,876,802	2,119,286	1,430,402
	-----------	-----------	-----------	-----------

19. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Bank loans and overdrafts	364,513	195,269	238,334	76,975
Trade creditors	1,781,790	1,449,320	994,346	554,348
Amounts owed to group undertakings	–	–	51,733	65,100
Accruals and deferred income	728,605	672,851	226,482	323,413
Corporation tax	178,878	276,554	58,492	146,729
Social security and other taxes	773,108	644,832	326,036	270,702
Obligations under finance leases and hire purchase contracts	315,071	177,946	174,494	98,148
Director loan accounts	3,000	–	3,000	3,000
Other creditors	58,776	190,798	13,271	18,742
	-----------	-----------	-----------	-----------
	4,203,741	3,607,570	2,086,188	1,557,157
	-----------	-----------	-----------	-----------

20. Creditors: amounts falling due after more than one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Bank loans and overdrafts	5,306,076	1,953,129	4,021,748	552,835
Obligations under finance leases and hire purchase contracts	609,714	348,251	392,501	207,179
	-----------	-----------	-----------	---------
	5,915,790	2,301,380	4,414,249	760,014
	-----------	-----------	-----------	---------

Included within creditors: amounts falling due after more than one year is an amount of £3,891,138 (2024: £1,256,047) for the group and £3,068,539 (2024: £322,105) for the company in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Repayments and interest rates are variable and are being made monthly with interest rates between 7% and 8% applied.

21. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	315,071	177,946	174,494	98,148
Later than 1 year and not later than 5 years	609,714	348,251	392,501	207,179
	---------	---------	---------	---------
	924,785	526,197	566,995	305,327
	---------	---------	---------	---------

22. Provisions

Group	Deferred tax (note 23)
	£
At 1 April 2024	323,765
Additions	130,747
Charge against provision	( 18,139)
	---------
At 31 March 2025	436,373
	---------

Company	Deferred tax (note 23)
	£
At 1 April 2024	226,338
Additions	71,789
	---------
At 31 March 2025	298,127
	---------

23. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 22)	436,373	323,765	298,127	226,338
	---------	---------	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	410,002	297,394	410,002	199,967
Fair value adjustment of investment property	26,371	26,371	26,371	26,371
	---------	---------	---------	---------
	436,373	323,765	436,373	226,338
	---------	---------	---------	---------

24. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 156,500 (2024: £ 134,110 ).

25. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

26. Reserves

Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Other reserves - This reserve is a capital redemption reserve which records the nominal value of shares repurchased by the company in 2002. Profit and loss account - This reserve records retained earnings and accumulated losses.

27. Analysis of changes in net debt

	At 1 Apr 2024	Cash flows	At 31 Mar 2025
	£	£	£
Cash at bank and in hand	2,001,342	(95,302)	1,906,040
Debt due within one year	(373,215)	(309,369)	(682,584)
Debt due after one year	(2,301,380)	(3,614,410)	(5,915,790)
	-----------	-----------	-----------
	( 673,253)	( 4,019,081)	( 4,692,334)
	-----------	-----------	-----------

28. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	654,000	144,000	654,000	144,000
Later than 1 year and not later than 5 years	1,818,000	432,000	1,818,000	432,000
	-----------	---------	-----------	---------
	2,472,000	576,000	2,472,000	576,000
	-----------	---------	-----------	---------

29. Secured debts

Bank loans are secured by a fixed and floating charge over all the assets of the company. Hire purchase loans are secured on the assets to which they relate.

30. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company and its subsidiary undertakings:

	Balance brought forward and outstanding
	2025	2024
	£	£
J Simpson	–	7,000
	----	------

31. Related party transactions

Company

At the balance sheet date the company was owed £152,542 (2024: £277,367) by other related parties. During the year, the company made sales to other related parties totalling £NIL (2024: £NIL). A provision has been made by the company against the debts of a group company, Dynamic Die & Steel (Sheffield) Ltd for the amount of £400,199 (2024: £348,142). The provision is eliminated upon consolidation within the group accounts. Advantage has been taken of the exemptions conferred by FRS102 from the requirement to make other disclosures concerning other group companies.