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Registration number: 10014912

The Hire House Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2023

 

The Hire House Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

The Hire House Limited

Company Information

Directors

 

Mr N Thomas

Mr A J Anscombe

Registered office




 

Unit 7 Cambrian Industrial Estate (East Side)
Coed Cae Lane
Pontyclun
CF72 9EW

Accountants

 

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

The Hire House Limited

(Registration number: 10014912)
Abridged Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

9,415

11,432

Current assets

 

Debtors

3,978

5,976

Cash at bank and in hand

 

9,179

11,029

 

13,157

17,005

Prepayments and accrued income

 

1,706

2,157

Creditors: Amounts falling due within one year

(5,023)

(29,285)

Net current assets/(liabilities)

 

9,840

(10,123)

Total assets less current liabilities

 

19,255

1,309

Creditors: Amounts falling due after more than one year

(35,261)

-

Accruals and deferred income

 

(3,194)

(1,618)

Net liabilities

 

(19,200)

(309)

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

(19,300)

(409)

Shareholders' deficit

 

(19,200)

(309)

 

The Hire House Limited

(Registration number: 10014912)
Abridged Balance Sheet as at 31 August 2023

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 12 March 2024 and signed on its behalf by:
 

.........................................

Mr A J Anscombe
Director

 

The Hire House Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 7 Cambrian Industrial Estate (East Side)
Coed Cae Lane
Pontyclun
CF72 9EW

These financial statements were authorised for issue by the Board on 12 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Total liabilities exceed current assets at the balance sheet date. The directors consider that the company has sufficient liquid assets to meet its liabilities as and when they fall due, and that the company has sufficient support from its creditors. Accordingly the directors consider that it is appropriate to prepare the accounts on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

The Hire House Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% Reducing Balance

Assets for hire

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

The Hire House Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 4).

4

Tangible assets

Furniture, fittings and equipment
 £

Assets for hire
£

Total
£

Cost or valuation

At 1 September 2022

5,460

15,956

21,416

Additions

130

180

310

At 31 August 2023

5,590

16,136

21,726

Depreciation

At 1 September 2022

2,597

7,387

9,984

Charge for the year

592

1,735

2,327

At 31 August 2023

3,189

9,122

12,311

Carrying amount

At 31 August 2023

2,401

7,014

9,415

At 31 August 2022

2,863

8,569

11,432

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

The Hire House Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

6

Related party transactions

Key management personnel

Directors

Summary of transactions with key management

During the year the directors made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the amount owed to the directors was £21,315 (2022 - £21,315).
 

Summary of transactions with other related parties

NT Props Ltd - Common directors and shareholders
During the year, NT Props Ltd made unsecured, repayable on demand loans to The Hire House Limited totalling £8,100 (2022- £5,739). During the year, the company raised management charges to NT Props Ltd totalling £nil (2022 - £nil). At the year end date the amount owed from/(to) NT Props Ltd was (£10,606) (2022 - £(2,506)).

Anondeco Ltd - Common directors and shareholders
During the year, Anondeco Ltd made unsecured, repayable on demand loans to The Hire House Limited totalling £8,100 (2022- £0). During the year, the company raised management charges to Anondeco Ltd totalling £nil (2022 - £nil). At the year end date the amount owed from/(to) Anondeco Ltd was £(3,340) (2022 - £4,760).