IRIS Accounts Production v22.1.4.3 04085880 director 1.5.21 30.4.22 30.4.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure040858802021-04-30040858802022-04-30040858802021-05-012022-04-30040858802020-04-30040858802020-05-012021-04-30040858802021-04-3004085880ns16:EnglandWales2021-05-012022-04-3004085880ns15:PoundSterling2021-05-012022-04-3004085880ns11:Director12021-05-012022-04-3004085880ns11:PrivateLimitedCompanyLtd2021-05-012022-04-3004085880ns11:SmallEntities2021-05-012022-04-3004085880ns11:AuditExemptWithAccountantsReport2021-05-012022-04-3004085880ns11:SmallCompaniesRegimeForDirectorsReport2021-05-012022-04-3004085880ns11:SmallCompaniesRegimeForAccounts2021-05-012022-04-3004085880ns11:FullAccounts2021-05-012022-04-3004085880ns11:CompanySecretary12021-05-012022-04-3004085880ns11:RegisteredOffice2021-05-012022-04-3004085880ns6:CurrentFinancialInstruments2022-04-3004085880ns6:CurrentFinancialInstruments2021-04-3004085880ns6:Non-currentFinancialInstruments2022-04-3004085880ns6:Non-currentFinancialInstruments2021-04-3004085880ns6:ShareCapital2022-04-3004085880ns6:ShareCapital2021-04-3004085880ns6:RetainedEarningsAccumulatedLosses2022-04-3004085880ns6:RetainedEarningsAccumulatedLosses2021-04-3004085880ns6:OwnedOrFreeholdAssetsns6:LandBuildings2021-05-012022-04-3004085880ns6:ShortLeaseholdAssetsns6:LandBuildings2021-05-012022-04-3004085880ns6:PlantMachinery2021-05-012022-04-3004085880ns6:MotorVehicles2021-05-012022-04-3004085880ns6:ComputerEquipment2021-05-012022-04-3004085880ns6:LandBuildings2021-04-3004085880ns6:ShortLeaseholdAssetsns6:LandBuildings2021-04-3004085880ns6:PlantMachinery2021-04-3004085880ns6:LandBuildings2021-05-012022-04-3004085880ns6:LandBuildings2022-04-3004085880ns6:ShortLeaseholdAssetsns6:LandBuildings2022-04-3004085880ns6:PlantMachinery2022-04-3004085880ns6:LandBuildings2021-04-3004085880ns6:ShortLeaseholdAssetsns6:LandBuildings2021-04-3004085880ns6:PlantMachinery2021-04-3004085880ns6:MotorVehicles2021-04-3004085880ns6:ComputerEquipment2021-04-3004085880ns6:MotorVehicles2022-04-3004085880ns6:ComputerEquipment2022-04-3004085880ns6:MotorVehicles2021-04-3004085880ns6:ComputerEquipment2021-04-3004085880ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-04-3004085880ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2021-04-3004085880ns6:LeasedAssetsHeldAsLessee2021-04-3004085880ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-05-012022-04-3004085880ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2021-05-012022-04-3004085880ns6:LeasedAssetsHeldAsLessee2021-05-012022-04-3004085880ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-04-3004085880ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-04-3004085880ns6:LeasedAssetsHeldAsLessee2022-04-3004085880ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-04-3004085880ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2021-04-3004085880ns6:LeasedAssetsHeldAsLessee2021-04-3004085880ns6:WithinOneYearns6:CurrentFinancialInstruments2022-04-3004085880ns6:WithinOneYearns6:CurrentFinancialInstruments2021-04-3004085880ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-04-3004085880ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-04-3004085880ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-04-3004085880ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2021-04-3004085880ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-04-3004085880ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2021-04-3004085880ns6:Secured2022-04-3004085880ns6:Secured2021-04-3004085880ns6:DeferredTaxation2021-04-3004085880ns6:DeferredTaxation2021-05-012022-04-3004085880ns6:DeferredTaxation2022-04-30
REGISTERED NUMBER: 04085880 (England and Wales)















HIRE THIS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022






HIRE THIS LIMITED (REGISTERED NUMBER: 04085880)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

HIRE THIS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2022







DIRECTOR: J M Evenson



SECRETARY: Mrs J B Evenson



REGISTERED OFFICE: Newport Road
Albrighton
Wolverhampton
Shropshire
WV7 3NA



REGISTERED NUMBER: 04085880 (England and Wales)



ACCOUNTANTS: Hollingsworth & Co Ltd
Coppice House
Halesfield 7
Telford
Shropshire
TF7 4NA



BANKERS: Lloyds TSB
Dudley Branch
25 Wolverhampton Street
Dudley
West Midlands
DY1 1DJ

HIRE THIS LIMITED (REGISTERED NUMBER: 04085880)

BALANCE SHEET
30 APRIL 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,117,555 1,867,019

CURRENT ASSETS
Stocks 41,000 73,000

Debts
Debts factored without recourse 241,219 235,145
Factored receipts 62,520 48,642
5 303,739 283,787
Debtors 5 260,980 209,303
Cash at bank 7,884 27,130
613,603 593,220
CREDITORS
Amounts falling due within one year 6 454,633 450,195
NET CURRENT ASSETS 158,970 143,025
TOTAL ASSETS LESS CURRENT LIABILITIES 2,276,525 2,010,044

CREDITORS
Amounts falling due after more than
one year

7

(490,638

)

(539,128

)

PROVISIONS FOR LIABILITIES 9 (402,335 ) (354,733 )
NET ASSETS 1,383,552 1,116,183

HIRE THIS LIMITED (REGISTERED NUMBER: 04085880)

BALANCE SHEET - continued
30 APRIL 2022

2022 2021
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,383,452 1,116,083
SHAREHOLDERS' FUNDS 1,383,552 1,116,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 9 August 2022 and were signed by:





J M Evenson - Director


HIRE THIS LIMITED (REGISTERED NUMBER: 04085880)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

1. STATUTORY INFORMATION

Hire This Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - in accordance with the property
Cabin fixtures - 25% on reducing balance
Cabins - 5% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year 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 balance sheet date.


HIRE THIS LIMITED (REGISTERED NUMBER: 04085880)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 year was 8 (2021 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold Cabin
property fixtures Cabins
£    £    £   
COST OR VALUATION
At 1 May 2021 17,000 56,678 2,258,531
Additions - 2,147 364,323
Disposals - - (58,381 )
At 30 April 2022 17,000 58,825 2,564,473
DEPRECIATION
At 1 May 2021 - 37,396 495,669
Charge for year - 5,087 128,223
Eliminated on disposal - - (15,676 )
At 30 April 2022 - 42,483 608,216
NET BOOK VALUE
At 30 April 2022 17,000 16,342 1,956,257
At 30 April 2021 17,000 19,282 1,762,862

HIRE THIS LIMITED (REGISTERED NUMBER: 04085880)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 May 2021 206,769 1,864 2,540,842
Additions 108,270 - 474,740
Disposals (78,295 ) - (136,676 )
At 30 April 2022 236,744 1,864 2,878,906
DEPRECIATION
At 1 May 2021 140,081 677 673,823
Charge for year 23,146 438 156,894
Eliminated on disposal (53,690 ) - (69,366 )
At 30 April 2022 109,537 1,115 761,351
NET BOOK VALUE
At 30 April 2022 127,207 749 2,117,555
At 30 April 2021 66,688 1,187 1,867,019

Cost or valuation at 30 April 2022 is represented by:

Freehold Cabin
property fixtures Cabins
£    £    £   
Valuation in 2008 - - 678,915
Valuation in 2015 - - 405,017
Cost 17,000 58,825 1,480,541
17,000 58,825 2,564,473

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2008 - - 678,915
Valuation in 2015 - - 405,017
Cost 236,744 1,864 1,794,974
236,744 1,864 2,878,906

HIRE THIS LIMITED (REGISTERED NUMBER: 04085880)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

4. TANGIBLE FIXED ASSETS - continued

If cabins had not been revalued they would have been included at the following historical cost:

2022 2021
£    £   
Cost 1,386,819 1,386,819
Aggregate depreciation 262,775 262,775

Cabins were valued on an open market basis on 30 April 2015 by the director. .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Cabins vehicles Totals
£    £    £   
COST OR VALUATION
At 1 May 2021 363,440 134,984 498,424
Additions 127,993 88,000 215,993
Transfer to ownership (70,795 ) (134,984 ) (205,779 )
At 30 April 2022 420,638 88,000 508,638
DEPRECIATION
At 1 May 2021 42,802 87,267 130,069
Charge for year 24,817 18,424 43,241
Transfer to ownership (22,941 ) (45,478 ) (68,419 )
At 30 April 2022 44,678 60,213 104,891
NET BOOK VALUE
At 30 April 2022 375,960 27,787 403,747
At 30 April 2021 320,638 47,717 368,355

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 75,387 76,738
Other debtors 184,738 131,795
Prepayments 855 770
260,980 209,303

Linked presentation:
The director hereby states that the entity is not obliged to support any losses, nor does it intend to do so.

HIRE THIS LIMITED (REGISTERED NUMBER: 04085880)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 97,020 88,525
Hire purchase contracts 111,089 96,512
Trade creditors 116,708 102,947
Corporation tax 90,578 110,997
Social security and other taxes 2,631 2,307
VAT 31,808 44,304
Other creditors 4,509 4,465
Directors current account 290 138
454,633 450,195

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 97,020 97,020
Bank loans - 2-5 years 234,388 318,584
Bank loans more 5 yr by instal - 12,799
Hire purchase contracts 159,230 110,725
490,638 539,128

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 12,799

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 428,428 516,928

The bank loans and overdraft are secured by fixed charges over freehold property owned by the director.

9. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 402,335 354,733

HIRE THIS LIMITED (REGISTERED NUMBER: 04085880)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2021 354,733
Provided during year 47,602
Balance at 30 April 2022 402,335

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HIRE THIS LIMITED

The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 Hire This Limited for the year ended 30 April 2022 which comprise the Income Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Hire This Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hire This Limited and state those matters that we have agreed to state to the director of Hire This Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hire This Limited and its director for our work or for this report.

It is your duty to ensure that Hire This 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 Hire This Limited. You consider that Hire This Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hire This 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.






Hollingsworth & Co Ltd
Coppice House
Halesfield 7
Telford
Shropshire
TF7 4NA


9 August 2022