Company registration number 02602737 (England and Wales)
EMERSON CRANE HIRE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
Affinia
Ground Floor
Swift House
18 Hoffmanns Way
Chelmsford
CM1 1GU
EMERSON CRANE HIRE LIMITED
COMPANY INFORMATION
Directors
Mr L Clancy
Mr G Abel
Mr W Carr
Company number
02602737
Registered office
Emerson House
Freshwater Road
Dagenham
Essex
UK
RM8 1RX
Auditor
Affinia (Chelmsford)
Ground Floor
Swift House
18 Hoffmanns Way
Chelmsford
CM1 1GU
EMERSON CRANE HIRE LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Profit and loss account
8
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 28
EMERSON CRANE HIRE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2025
- 1 -

The directors present the strategic report for the year ended 31 July 2025.

Fair review of the business

The board are happy with the results, and the financial position at the year-end given the uncertainty and ongoing changes in the economy during this time.

The company’s main markets are construction, rail and infrastructure driven and as a result the company expects in the medium term to see revenue increase and the business to remain profitable in the coming years, especially given the government’s continued commitment to infrastructure and the volume of work in the private sector.

Principal risks and uncertainties

The execution of the company’s strategies is subject to several risks, the key business risks being:

- Competition from other business, where pricing is still a driving factor rather than quality of service.

- The rate of inflation which continues to hold at a high level so reducing expenditure.

- Direct price rises during the year and the ability to pass this up the supply chain.

- Exchange rates effecting the ability to invest in future cranes and machinery.

The business has continued to be very strict with ongoing cost controls, fleet utilisation and upgrading and has maintained a good cash availability for the future. The business continues to protect and retaining its key workers during these times of slower growth and project start dates from customers.

In terms of the bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility using overdrafts, confidential invoice discounting and long-term hire purchase agreements with an approved supply base at agreed rates of interest to support future demand.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due using the funding methods above.

Trade debtors are managed in respect of credit and cash flow risk by policies aimed at keeping debt turn and credit days lower which are beneficial for both parties. Customers are regular monitored for amounts outstanding for both time and credit limits.

Development and performance

The business continued to invest in modern cranes with the latest engine standards during the year, investing £1.560m on a new crane, a heavy haulage truck and new trailers to support the fleet.

The company is confident in the future and has placed orders into next year for 2 new cranes and reserving orders into 2027. This continued investment will help deliver the right performance and level of service for our customer base with the best technology available, meaning we can perform on the highest corporate level sites in the UK.

The company will continue to invest and replace its fleet of cranes and transport equipment over the coming years, to ensure that it is positioned for future contracts and customer requirements. We will continue to dispose of older cranes and vehicles as they become obsolete or uneconomical for the business or the customer requirements.

The directors expect the business to hold its current market share in the coming year and in the longer-term increase this, given the number of construction related projects requiring cranes over the coming years, the increasing number of new clients being secured in the market from new and existing market segments.

Key performance indicators

The company monitors its performance against strategic objectives by means of key performance indicators. The main KPIs that it uses are oriented around gross profit and turnover, comparing against budgets. As such, the following were observed:

EMERSON CRANE HIRE LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 2 -

Sales

2025 £15.36m

2024 £14.70m

The 4.5% increase in sales occurred in the first half of the year when major contracts and new corporate customers were in full swing with projects and new works. In the second half of the year we experienced some projects pushed out due to delays on other areas effecting the requirements for cranes on these sites. The business held its pricing policy during this period as in the long term, these sites will still require cranage. The business can see that there is a longer-term increasing requirement for cranage within the construction and infrastructure industry to drive increased sales.

Gross Profit %

2025 32.14%

2024 31.13%

This increase over the year is due to the increase cost controls in the second half of the year around vehicle costs in the market, and the decision to retain key operational staff and hold off on new recruitment. This meant the business would be in a strong position to service its customer base when most projects came back online in the medium term. Depreciation charges were also higher in the period from the further investment in a more modern fleet of cranes and vehicles. The disposal of various underutilised older cranes at a profit help in the period.

Operating Profit

2025 £1,340,264

2024 £1,017,459

The business continues to control its indirect cost base, mainly by a constant review of the supply base and product costs, but also improvements in processes to help ensure staff levels were kept at the same level as the prior year. Even with increased sales and levels of compliance required on infrastructure sites, indirect staff costs were kept low.

Financial Instruments

The company's principal financial instruments comprise bank balances, trade debtors, trade creditors, loans to the company and hire purchase agreements. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.

On behalf of the board

Mr G Abel
Director
14 May 2026
EMERSON CRANE HIRE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 July 2025.

Principal activities

The principal activity of the company continued to be that of the hire of Cranes and associated Plant and Equipment.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid in the year amounting to £4 5,251 (202 4: £40,174).

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr L Clancy
Mr P Clancy
(Resigned 20 December 2024)
Mr G Abel
Mr W Carr
Auditor

In accordance with the company's articles, a resolution proposing that Affinia (Chelmsford) be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr G Abel
Director
14 May 2026
EMERSON CRANE HIRE LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JULY 2025
- 4 -

The directors are responsible for preparing the annual 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 company and of the profit or loss of the company for that period.

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

- select suitable accounting policies and then apply them consistently;

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

- 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.

EMERSON CRANE HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF EMERSON CRANE HIRE LIMITED
- 5 -
Opinion

We have audited the financial statements of Emerson Crane Hire Limited (the 'company') for the year ended 31 July 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 July 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditor's 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 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 contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport 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.

EMERSON CRANE HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF EMERSON CRANE HIRE LIMITED
- 6 -
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 identifie d material misstatements in the strategic report and the directors' r eport.

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 directors' r esponsibilities s tatement, 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 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.

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:

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 crane hire 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 Companies Act 2006, taxation legislation, environmental and health and safety legislation;

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

EMERSON CRANE HIRE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF EMERSON CRANE HIRE LIMITED
- 7 -

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 where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud.

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias

- investigated the rationale behind significant or unusual transactions; and

- observed and identified internal controls in place, specifically around payroll and bank 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 and reviewing for evidence of correspondence with legal advisors.

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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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.

Michael Warman
Senior Statutory Auditor
For and on behalf of Affinia (Chelmsford)
14 May 2026
Chartered Accountants
Statutory Auditor
Ground Floor
Swift House
18 Hoffmanns Way
Chelmsford
CM1 1GU
EMERSON CRANE HIRE LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
15,358,345
14,697,749
Cost of sales
(10,422,422)
(10,122,326)
Gross profit
4,935,923
4,575,423
Administrative expenses
(3,599,284)
(3,557,964)
Other operating income
3,625
-
0
Operating profit
4
1,340,264
1,017,459
Interest receivable and similar income
8
28,238
16,484
Interest payable and similar expenses
9
(692,193)
(662,988)
Profit before taxation
676,309
370,955
Tax on profit
11
(191,807)
(115,425)
Profit for the financial year
484,502
255,530

The profit and loss account has been prepared on the basis that all operations are continuing operations.

EMERSON CRANE HIRE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2025
- 9 -
2025
2024
£
£
Profit for the year
484,502
255,530
Other comprehensive income
-
-
Total comprehensive income for the year
484,502
255,530
EMERSON CRANE HIRE LIMITED
BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
13
15,296,011
16,724,003
Current assets
Stocks
14
158,086
125,409
Debtors
15
4,738,005
5,621,735
Cash at bank and in hand
140,179
452,582
5,036,270
6,199,726
Creditors: amounts falling due within one year
16
(4,284,688)
(5,132,143)
Net current assets
751,582
1,067,583
Total assets less current liabilities
16,047,593
17,791,586
Creditors: amounts falling due after more than one year
17
(6,842,866)
(9,217,917)
Provisions for liabilities
Deferred tax liability
20
2,049,110
1,857,303
(2,049,110)
(1,857,303)
Net assets
7,155,617
6,716,366
Capital and reserves
Called up share capital
23
70,000
70,000
Profit and loss reserves
24
7,085,617
6,646,366
Total equity
7,155,617
6,716,366

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 14 May 2026 and are signed on its behalf by:
Mr G Abel
Director
Company registration number 02602737 (England and Wales)
EMERSON CRANE HIRE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2025
- 11 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2023
70,000
6,431,010
6,501,010
Year ended 31 July 2024:
Profit and total comprehensive income
-
255,530
255,530
Dividends
10
-
(40,174)
(40,174)
Balance at 31 July 2024
70,000
6,646,366
6,716,366
Year ended 31 July 2025:
Profit and total comprehensive income
-
484,502
484,502
Dividends
10
-
(45,251)
(45,251)
Balance at 31 July 2025
70,000
7,085,617
7,155,617
EMERSON CRANE HIRE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
30
4,889,367
1,895,123
Interest paid
(84,622)
(645,168)
Net cash inflow from operating activities
4,804,745
1,249,955
Investing activities
Purchase of tangible fixed assets net of finance leases taken
(406,767)
(904,673)
Proceeds from disposal of tangible fixed assets
1,496,786
359,623
Isuue of loans
(1,000,000)
-
0
Interest received
28,238
16,484
Net cash generated from/(used in) investing activities
118,257
(528,566)
Financing activities
Proceeds from borrowings
-
2,000,000
Repayment of borrowings
(2,026,828)
(244,976)
Payment of finance leases obligations
(3,163,326)
(2,481,037)
Dividends paid
(45,251)
(40,174)
Net cash used in financing activities
(5,235,405)
(766,187)
Net decrease in cash and cash equivalents
(312,403)
(44,798)
Cash and cash equivalents at beginning of year
452,582
497,380
Cash and cash equivalents at end of year
140,179
452,582
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 13 -
1
Accounting policies
Company information

Emerson Crane Hire Limited is a private company limited by shares incorporated in England and Wales. The registered office is Emerson House, Freshwater Road, Dagenham, Essex, UK, RM8 1RX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources, in terms of cranes, staff and funding to continue in operational existence for the foreseeable future. The number of new tenders for high profile clients continues to increase at good market rates to help improve revenue going forward, while keeping the cost base for these new works proportional. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts and settlement discounts where applicable.

Revenue from crane hire is recognised each day that it has been hired out for use. If the invoice issued overlaps the reporting period end then a proportion of the income is accrued and or deferred in line with the revenue recognition policy stated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost over their useful lives on the following bases:

Software costs
33% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
4% straight line
Plant and equipment
10% straight line
Fixtures and fittings
10% - 33% straight line
Motor vehicles
20% straight line
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 14 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost comprises direct materials that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 15 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 16 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 17 -
1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 18 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Depreciation / useful economic life

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is calculated based on estimated residual values of each asset at the end of their useful economic life. Calculation of these provisions requires judgements to be made, which include forecast consumer demand and the economic environment.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Crane hire
14,385,803
13,916,869
Transport
615,073
580,055
Other income
357,469
200,825
15,358,345
14,697,749
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
15,358,345
14,697,749
2025
2024
£
£
Other revenue
Interest income
28,238
16,484
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
(731)
539
Depreciation of owned tangible fixed assets
822,007
764,610
Depreciation of tangible fixed assets held under finance leases
1,693,416
1,604,496
Profit on disposal of tangible fixed assets
(670,723)
(132,053)
Operating lease charges
450,456
375,811
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 19 -
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
18,750
17,850
For other services
Taxation compliance services
1,500
1,500
All other non-audit services
2,460
3,650
3,960
5,150
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Drivers and maintenance
58
60
Administrative
26
26
Total
84
86

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
5,386,925
5,372,826
Social security costs
682,099
640,449
Pension costs
80,106
100,922
6,149,130
6,114,197
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
267,984
306,274
Company pension contributions to defined contribution schemes
5,154
4,757
273,138
311,031
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
7
Directors' remuneration
(Continued)
- 20 -
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
132,295
115,813
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
3,928
11,579
Other interest income
24,310
4,905
Total income
28,238
16,484
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
3,928
11,579
9
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest payable to group undertakings
67,114
17,821
Other finance costs:
Interest on finance leases and hire purchase contracts
607,571
645,167
Other interest
17,508
-
0
692,193
662,988
10
Dividends
2025
2024
£
£
Final paid
45,251
40,174
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 21 -
11
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
191,807
115,425

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
676,309
370,955
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
169,077
92,739
Tax effect of expenses that are not deductible in determining taxable profit
16,818
(4,561)
Tax effect of utilisation of tax losses not previously recognised
(200,842)
-
0
Unutilised tax losses carried forward
-
0
353,162
Permanent capital allowances in excess of depreciation
14,947
(441,340)
Deferred tax adjustments in respect of current year
191,807
115,425
Taxation charge for the year
191,807
115,425
12
Intangible fixed assets
Software costs
£
Cost
At 1 August 2024 and 31 July 2025
93,245
Amortisation and impairment
At 1 August 2024 and 31 July 2025
93,245
Carrying amount
At 31 July 2025
-
0
At 31 July 2024
-
0
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 22 -
13
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2024
60,925
24,596,658
1,668,114
1,605,907
27,931,604
Additions
-
0
1,559,670
263,819
90,004
1,913,493
Disposals
-
0
(2,915,752)
(1,582)
(93,479)
(3,010,813)
At 31 July 2025
60,925
23,240,576
1,930,351
1,602,432
26,834,284
Depreciation and impairment
At 1 August 2024
20,734
9,075,981
1,428,405
682,481
11,207,601
Depreciation charged in the year
5,445
2,039,959
175,395
294,624
2,515,423
Eliminated in respect of disposals
-
0
(2,100,322)
(1,545)
(82,884)
(2,184,751)
At 31 July 2025
26,179
9,015,618
1,602,255
894,221
11,538,273
Carrying amount
At 31 July 2025
34,746
14,224,958
328,096
708,211
15,296,011
At 31 July 2024
40,191
15,520,677
239,709
923,426
16,724,003

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Plant and equipment
13,252,632
13,637,226
Fixtures and fittings
-
0
20,389
Motor vehicles
196,264
236,840
13,448,896
13,894,455
14
Stocks
2025
2024
£
£
Raw materials and consumables
158,086
125,409
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 23 -
15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,772,410
2,888,756
Corporation tax recoverable
9,242
268,641
Other debtors
1,661,599
2,141,764
Prepayments and accrued income
294,754
322,574
4,738,005
5,621,735

Included within other debtors at the balance sheet date is a loan of £1,000,000 (2024: nil) advanced to the c ompany’s defined benefit pension scheme.

The loan is unsecured, bears interest at a fixed rate of 3.75% per annum, and has a term of six months from the date of advance. The loan is repayable in full at the end of the term together with accrued interest.

At the balance sheet date, the full loan balance of £1,000,000 was outstanding and is classified within amounts due within one year.

16
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
19
2,131,860
2,432,666
Other borrowings
18
-
0
400,000
Trade creditors
713,807
598,032
Corporation tax
17,708
259,399
Other taxation and social security
202,447
158,136
Deferred income
21
20,428
105,540
Other creditors
967,278
904,222
Accruals and deferred income
231,160
274,148
4,284,688
5,132,143

At the statement of financial position date, included in other creditors is an amount of £812,831 (2024: £647,425) relating to RBS Invoice Finance Ltd invoice financing facility, which contains fixed and floating charges against all assets of the company, dated 2 June 2023. The charge contains a negative pledge.

17
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
19
6,842,866
7,591,089
Other borrowings
18
-
0
1,626,828
6,842,866
9,217,917
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 24 -
18
Loans and overdrafts
2025
2024
£
£
Other loans
-
0
2,026,828
Payable within one year
-
0
400,000
Payable after one year
-
0
1,626,828

At the statement of financial position date, included in other loans is an amount of nil (2024: £2,026,828) relating to The Trustees of Emerson Crane Hire Limited Retirement Benefit Scheme, which held a fixed charge over 10 cranes held on the balance sheet dated 13 May 2024.

19
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
2,131,860
2,432,666
In two to five years
6,177,614
6,427,562
In over five years
665,252
1,163,527
8,974,726
10,023,755

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
3,668,619
3,679,585
Tax losses
(1,619,509)
(1,822,282)
2,049,110
1,857,303
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
20
Deferred taxation
(Continued)
- 25 -
2025
Movements in the year:
£
Liability at 1 August 2024
1,857,303
Charge to profit or loss
191,807
Liability at 31 July 2025
2,049,110

Deferred tax assets in relation to losses have been set off against deferred tax liabilities as there is a legally enforceable right to do so.

21
Deferred income
2025
2024
£
£
Other deferred income
20,428
105,540
22
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
80,106
100,922

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

23
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
70,000
70,000
70,000
70,000

The company has one class of ordinary shares which carry no right to fixed income. These shares carry full voting rights.

24
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
6,646,366
6,431,010
Profit for the year
484,502
255,530
Dividends declared and paid in the year
(45,251)
(40,174)
At the end of the year
7,085,617
6,646,366
EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 26 -
25
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
570,000
520,000
Years 2-5
1,895,000
1,930,219
After 5 years
350,000
600,000
2,815,000
3,050,219
26
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
4,056,161
1,241,352

In September 2023, the company entered into an agreement for the acquisition of a large piece of plant & machinery, totalling a value of £1,245,139 (€1,440,000). This asset will be officially paid for and transferred to the company in January 2026.

In September 2024, the company entered into an agreement for the acquisition of a large piece of plant & machinery, totalling a value of £2,542,160 (€2,940,000) and two trailers with a value of £268,862 (€231,734). These assets will be officially paid for and transferred to the company in April 2026.

EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 27 -
27
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
-
0
133,658
Entities with common directorship and shareholders
13,457
-

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
79,041
-
Entities with common directorship and shareholders
72,635
110,686
Other information

During the year the company was charged rent of £210,215 (2024: £150,000) by a Retirement Benefit Scheme in which a Director is a Trustee. At the balance sheet date an amount of nil (2024: nil) was outstanding in respect of the rental charge.

A balance of nil remained due to the Retirement Benefit Scheme at 31 July 2025 in respect of the term loan provided. At the year end, included in o ther debtors, is an amount of £79,041 owed by the Scheme in respect of informal loans (20 24: £133,658 included within other creditors).

During the year, the company advanced a loan of £1,000,000 to the pension scheme. The loan is unsecured, bears interest at a fixed rate of 3.75% per annum, and has a term of six months. The loan is repayable in full at the end of the term together with accrued interest.

At the balance sheet date, the full loan balance of £1,000,000 was outstanding (2024: nil)

Balances included within amounts owed by entities with common directorship and shareholders are charged an interest rate of nil. No repayment terms have been set and all amounts are repayable on demand.

During the year, the company traded with a related party under common control. Sales from the related party amounted to £186,910 (2024: £177,709).

Amounts outstanding at the balance sheet date are disclosed above and the transactions were carried out on an arm’s length basis.

EMERSON CRANE HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 28 -
28
Directors' transactions
Advances
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Transactions with Director
3.75
1,933,802
69,293
24,310
(1,938,003)
89,402
1,933,802
69,293
24,310
(1,938,003)
89,402

This amount will be repaid in full within 9 months of the statement of financial position date.

29
Ultimate controlling party

The ultimate controlling party is the Trustees of the Edward Clancy Will Trust by virtue of the majority shareholding.

30
Cash generated from operations
2025
2024
£
£
Profit for the year after tax
484,502
255,530
Adjustments for:
Taxation charged
191,807
115,425
Finance costs
692,193
662,988
Investment income
(28,238)
(16,484)
Gain on disposal of tangible fixed assets
(670,724)
(132,053)
Depreciation and impairment of tangible fixed assets
2,515,423
2,369,106
Movements in working capital:
(Increase)/decrease in stocks
(32,677)
9,142
Decrease/(increase) in debtors
1,883,730
(1,762,536)
(Decrease)/increase in creditors
(146,649)
394,005
Cash generated from operations
4,889,367
1,895,123
31
Analysis of changes in net debt
1 August 2024
Cash flows
31 July 2025
£
£
£
Cash at bank and in hand
452,582
(312,403)
140,179
Borrowings excluding overdrafts
(2,026,828)
2,026,828
-
Lease liabilities
(10,023,755)
1,049,029
(8,974,726)
(11,598,001)
2,763,454
(8,834,547)
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