ABA Cranes Limited - Accounts to registrar

REGISTERED NUMBER: 06433976 (England and Wales)

Financial Statements for the Period 1 April 2016 to 31 December 2016

for

ABA Cranes Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

A Baggott

P A Baggott

D England

A J L Baggott

SECRETARY:

P A Baggott

REGISTERED OFFICE:

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

BUSINESS ADDRESS:

52 Sneyd Lane

Essington

Wolverhampton

WV11 2DU

REGISTERED NUMBER:

06433976 (England and Wales)

ACCOUNTANTS:

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and

certain other primary statements and the Report of the Directors are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of ABA Cranes Limited for the period ended 31 December 2016 which comprise the Income

Statement, Statement of Financial Position, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of ABA Cranes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ABA Cranes Limited and state those matters that we have agreed to state to the Board of Directors of ABA Cranes Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ABA Cranes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ABA Cranes Limited. You consider that ABA Cranes Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of ABA Cranes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

25 August 2017

CURRENT ASSETS

Debtors

4

1,366,001

1,265,732

Cash at bank and in hand

21,687

65,897

1,387,688

1,331,629

CREDITORS

Amounts falling due within one year

5

994,405

1,053,117

NET CURRENT ASSETS

393,283

278,512

TOTAL ASSETS LESS CURRENT
LIABILITIES

393,283

278,512

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

393,183

278,412

SHAREHOLDERS' FUNDS

393,283

278,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

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

(b)

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

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 25 August 2017 and were signed on its behalf by:

P A Baggott - Director

1.	STATUTORY INFORMATION

ABA Cranes Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has adopted FRS 102 (Section 1A) for the first time in the period ended 31 December 2016.

The financial statements are presented in pound sterling which is the functional currency of the company and

rounded to the nearest £.

The current accounting period covers the 9 month period ended 31 December 2016. The comparative accounting

period covers the 12 month period ended 31 March 2016. The accounting period was shortened for commercial

reasons. Due to the change in accounting period, the comparative figures are not entirely comparable.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 55 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

£

Trade debtors

1,108,209

1,066,685

Amounts owed by related parties

233,534

177,431

Other debtors

4,380

4,964

Prepayments

19,878

16,652

1,366,001

1,265,732

Amounts owed by related parties do not bear interest, are unsecured and are repayable on demand.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

£

Trade creditors

356,699

399,881

Corporation tax

68,395

29,667

Social security and other taxes

241,826

237,691

Other creditors

1,327

153

Factoring account

311,476

358,701

Wages control account

294

21,738

Accruals and deferred income

14,388

5,286

994,405

1,053,117

6.	SECURED DEBTS

The following secured debts are included within creditors:

2016

£

Factoring account

311,476

358,701

The amounts due to debt factor are secured by a fixed charge on purchased debts which fail to vest and a floating

charge over all assets of the company dated 13 February 2008 in favour of HSBC Invoice Finance (UK) Limited.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

value:

£

100

Ordinary

£1

100

8.	TRANSITION TO FRS 102

This is the first year that the company has presented its results under FRS 102 (Section 1A). The last financial

statements under the UK GAAP were for the year ended 31 March 2016. The date of transition to FRS 102 was

1 April 2015.