Accounts filed on 31-05-2015

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			Company registration number:01552830
		VANSON CRANES LIMITED
			ABBREVIATED FINANCIAL STATEMENTS
			FOR THE YEAR ENDED 31 May 2015

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VANSON CRANES LIMITED
BALANCE SHEET
AS AT 31 May 2015
			2015				2014
		Notes	£		£		£		£
FIXED ASSETS
Tangible assets		2			12,276				5,980
					12,276				5,980
CURRENT ASSETS
Stocks			291,380				287,302
Debtors			74,634				78,334
Cash at bank and in hand			67,635				156,774
			433,649				522,410
CREDITORS
Amounts falling due within one year			(42,783)				(94,571)
NET CURRENT ASSETS					390,866				427,839
TOTAL ASSETS LESS
CURRENT LIABILITIES					403,142				433,819
NET ASSETS					403,142				433,819
CAPITAL AND RESERVES
Called-up equity share capital		3			20,000				20,000
Profit and loss account					383,142				413,819
SHAREHOLDERS FUNDS					403,142				433,819
For the year ending 31 May 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
..........................................................................
T Vanson
17 February 2016
The annexed notes form part of these financial statements.

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VANSON CRANES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2015

1.

Accounting policies

Basis of preparing the financial statements

The accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents income receivable for goods and services provided in the period, exclusive of Value Added Tax and trade discounts. Income is recognised on the date of invoice.

Foreign currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Fixed assets

Depreciation has been computed to write off the cost of fixed assets over their expected useful lives at the following rates:- A full years' depreciation is charged in the year of acquisition of an asset but none in the year of disposal.

Plant and machinery 25% per annum reducing balance

Land and buildings 10% per annum straight line

Stocks and work In progress

Stocks and work in progress are valued consistently at the lower of cost (on a first in, first out basis) or net realisable value. Cost, where appropriate, includes a proportion of directly attributable overheads.

Leasing

Leasing rentals payable on agreements which transfer substantially all the risk and rewards associated with ownership of the lessee ("finance leases") are capitalised within fixed assets, and the obligation to pay future rentals included in creditors as a liability. The interest charges implicit in such a lease are written off to the profit and loss account in proportion to the balance outstanding during the year. All other leasing rentals ("operating leases") are written off to the profit and loss account over the life of the lease.

Deferred taxation

Deferred tax assets and liabilities have arisen from timing differences between the recognition of gains and losses in the financial statements and their recognition in a tax computation. Full provision is made for all liabilities, and provision is made for assets to the extent that they are considered more likely than not to be recoverable in the foreseeable future. Provision is made using tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based upon rates enacted at the balance sheet date.

Pension scheme

Pension costs are recognised in the profit and loss account in order to provide a systematic and rational charge over the periods from which benefits are derived from employees services.

2.	Tangible fixed assets
				Total
	Cost
	At start of period			225,676
	Additions			11,995
	Disposals			(8,435)
	At end of period			229,236
	Depreciation
	At start of period			219,696
	Provided during the period			4,801
	On disposals			(7,537)
	At end of period			216,960
	Net Book Value
	At start of period			5,980
	At end of period			12,276

3.	Share capital				Allotted, issued and fully paid
					2015	2014
					£	£
	Ordinary shares of £1 each				20,000	20,000
	Total issued share capital				20,000	20,000
4.	Transactions with directors
	During the year the company entered into the following arrangements in which T Vanson and Mrs M Vanson have an interest: The company paid rent of £12,000 (2014 £12,000) to T & Mrs M Vanson.
5.	Ultimate controlling party
	The company is controlled by Mr T and Mrs M Vanson who own 100% of the issues share capital.