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REGISTERED NUMBER: 02448733 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 January 2023

for

The Hire Shop (Birmingham) Limited

The Hire Shop (Birmingham) Limited (Registered number: 02448733)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Hire Shop (Birmingham) Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: R. Roney
M.J. Roney





SECRETARY: M.J. Roney





REGISTERED OFFICE: 1,733 Coventry Road
South Yardley
Birmingham
B26 1DT





REGISTERED NUMBER: 02448733 (England and Wales)





ACCOUNTANTS: James, Stanley & Co. Limited
1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT

The Hire Shop (Birmingham) Limited (Registered number: 02448733)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 51,347 56,435

CURRENT ASSETS
Inventories 6 3,295 1,879
Debtors 7 12,024 11,662
Cash at bank and in hand 55,909 42,100
71,228 55,641
CREDITORS
Amounts falling due within one
year

8

34,756

22,686
NET CURRENT ASSETS 36,472 32,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

87,819

89,390

PROVISIONS FOR LIABILITIES 9 16,755 21,108
NET ASSETS 71,064 68,282

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 70,964 68,182
SHAREHOLDERS' FUNDS 71,064 68,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 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 Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:



R. Roney - Director


The Hire Shop (Birmingham) Limited (Registered number: 02448733)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

The Hire Shop (Birmingham) 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 company's trading address is 776 Alum Rock Road, Birmingham.

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

2. STATEMENT OF COMPLIANCE

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. There have been no material departures from this standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net hire charges for goods and sales of accessories and consumables, excluding value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Inventories 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.


The Hire Shop (Birmingham) Limited (Registered number: 02448733)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. 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.

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.

Hire purchase and leasing commitments
Rental costs under operating leases are charged to profit and loss account in equal annual amounts over the periods of the leases.

Rentals received under operating leases are credited to the profit and loss account as they fall due.

Loans from directors
As a small entity the company measures a basic financial liability that is a loan from a director at transaction price.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2022 2,363 103,029 4,854
Additions - 8,124 -
Disposals - (885 ) -
At 31 January 2023 2,363 110,268 4,854
DEPRECIATION
At 1 February 2022 2,363 80,732 3,878
Charge for year - 4,474 146
Eliminated on disposal - (298 ) -
At 31 January 2023 2,363 84,908 4,024
NET BOOK VALUE
At 31 January 2023 - 25,360 830
At 31 January 2022 - 22,297 976

The Hire Shop (Birmingham) Limited (Registered number: 02448733)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 49,254 10,361 169,861
Additions - 491 8,615
Disposals - (575 ) (1,460 )
At 31 January 2023 49,254 10,277 177,016
DEPRECIATION
At 1 February 2022 16,729 9,724 113,426
Charge for year 8,131 365 13,116
Eliminated on disposal - (575 ) (873 )
At 31 January 2023 24,860 9,514 125,669
NET BOOK VALUE
At 31 January 2023 24,394 763 51,347
At 31 January 2022 32,525 637 56,435

6. INVENTORIES
31.1.23 31.1.22
£    £   
Inventories 3,295 1,879

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 8,940 9,030
Other debtors 8 8
Prepayments and accrued income 3,076 2,624
12,024 11,662

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 12,116 13,424
Tax 9,999 2,885
Social security and other
taxes

6,344

1,180
Other creditors 132 102
Directors' current accounts 2,562 2,056
Accruals and deferred income 3,603 3,039
34,756 22,686

9. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred taxation 9,755 14,108
Other provisions 7,000 7,000
16,755 21,108

The Hire Shop (Birmingham) Limited (Registered number: 02448733)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred Other
tax provisions
£    £   
Balance at 1 February 2022 14,108 7,000
Utilised during year (4,353 ) -
Capital allowances in excess
of depreciation
Balance at 31 January 2023 9,755 7,000

The other provisions recorded in these financial statements relate to a legal dispute. The directors do not provide further details of the provisions as this may be prejudicial to the interests of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary shares £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 February 2022 68,182
Profit for the year 31,982
Dividends (29,200 )
At 31 January 2023 70,964

12. CAPITAL COMMITMENTS
31.1.23 31.1.22
£    £   
Contracted but not provided for in the
financial statements - -

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
R. Roney
Balance outstanding at start of year - 23
Amounts advanced - 411
Amounts repaid - (434 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The Hire Shop (Birmingham) Limited (Registered number: 02448733)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

14. RELATED PARTY DISCLOSURES

In the year under review the company received loans from members of key management personnel and at the balance sheet date the company owed £2,562 in respect of these loans. The loans are unsecured and interest free with no specific repayment terms and are presented within creditors due within one year.