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REGISTERED NUMBER: 06503393 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 May 2023

for

HTC Hire Limited

HTC Hire Limited (Registered number: 06503393)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HTC Hire Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: S A P Lobban
P J Grimble





REGISTERED OFFICE: Wren House
68 London Road
St Albans
Hertfordshire
AL1 1NG





REGISTERED NUMBER: 06503393 (England and Wales)





ACCOUNTANTS: Roy Pinnock & Co LLP
Chartered Certified Accountants
Wren House
68 London Road
St Albans
Hertfordshire
AL1 1NG

HTC Hire Limited (Registered number: 06503393)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,769,279 1,735,000

CURRENT ASSETS
Debtors 5 7,722 -
Cash at bank 15,047 48,339
22,769 48,339
CREDITORS
Amounts falling due within one year 6 818,994 1,698,340
NET CURRENT LIABILITIES (796,225 ) (1,650,001 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

973,054

84,999

CREDITORS
Amounts falling due after more than one
year

7

(839,536

)

-

PROVISIONS FOR LIABILITIES (21,250 ) (16,150 )
NET ASSETS 112,268 68,849

CAPITAL AND RESERVES
Called up share capital 1 1
Non distributable reserve 9 68,848 68,848
Retained earnings 43,419 -
SHAREHOLDERS' FUNDS 112,268 68,849

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

HTC Hire Limited (Registered number: 06503393)

Balance Sheet - continued
31 May 2023


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 22 November 2023 and were signed on its behalf by:





S A P Lobban - Director


HTC Hire Limited (Registered number: 06503393)

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

1. STATUTORY INFORMATION

HTC Hire 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

In accordance with Statement of Standard Accounting Practice 19, no depreciation is provided in respect of freehold properties which are classified as investment properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are not held for consumption but for investment and the directors consider that to depreciate them would not give a true and fair view.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

HTC Hire Limited (Registered number: 06503393)

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

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 June 2022 1,735,000
Additions 34,279
At 31 May 2023 1,769,279
NET BOOK VALUE
At 31 May 2023 1,769,279
At 31 May 2022 1,735,000

Cost or valuation at 31 May 2023 is represented by:

Land and
buildings
£   
Valuation in 2022 84,998
Cost 1,684,281
1,769,279

If freehold property had not been revalued it would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 1,684,281 1,650,002

Freehold property was valued on an open market basis on 13 September 2022 by Anderson, Wilde & Harris .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 7,722 -

HTC Hire Limited (Registered number: 06503393)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 68,879 -
Trade creditors 999 (1 )
Taxation and social security 11,930 2,897
Other creditors 737,186 1,695,444
818,994 1,698,340

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 839,536 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 584,260 -

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 908,415 -

Allica bank has a first legal charge over the freehold land and buildings known as The Former ATS Building, Lyon Way, St Albans, AL4 0LB.

9. RESERVES
Non
distributable
reserve
£   
At 1 June 2022
and 31 May 2023 68,848

10. RELATED PARTY DISCLOSURES

During the year the company received rental income of £93,012 (2022 £64,048) from HTC Fastenings Limited, a company under the same ownership and control as HTC Hire Ltd. It also paid a management charge of £nil (2022 £61,865) and received an interest free loan from HTC Fastenings Limited of which the amount outstanding at the balance sheet date was £678,924 (2022 £1,637,856).