Letterhire Limited 09543246 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is the hire of light up letters. Digita Accounts Production Advanced 6.30.9574.0 true true 09543246 2022-06-01 2023-05-31 09543246 2023-05-31 09543246 bus:OrdinaryShareClass1 2023-05-31 09543246 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 09543246 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 09543246 core:FurnitureFittings 2023-05-31 09543246 core:MotorVehicles 2023-05-31 09543246 core:PlantMachinery 2023-05-31 09543246 bus:SmallEntities 2022-06-01 2023-05-31 09543246 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09543246 bus:FilletedAccounts 2022-06-01 2023-05-31 09543246 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 09543246 bus:RegisteredOffice 2022-06-01 2023-05-31 09543246 bus:Director1 2022-06-01 2023-05-31 09543246 bus:Director3 2022-06-01 2023-05-31 09543246 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 09543246 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09543246 core:FurnitureFittings 2022-06-01 2023-05-31 09543246 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 09543246 core:MotorCars 2022-06-01 2023-05-31 09543246 core:MotorVehicles 2022-06-01 2023-05-31 09543246 core:PlantMachinery 2022-06-01 2023-05-31 09543246 countries:England 2022-06-01 2023-05-31 09543246 2022-05-31 09543246 core:FurnitureFittings 2022-05-31 09543246 core:MotorVehicles 2022-05-31 09543246 core:PlantMachinery 2022-05-31 09543246 2021-06-01 2022-05-31 09543246 2022-05-31 09543246 bus:OrdinaryShareClass1 2022-05-31 09543246 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 09543246 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 09543246 core:FurnitureFittings 2022-05-31 09543246 core:MotorVehicles 2022-05-31 09543246 core:PlantMachinery 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09543246

Letterhire Limited

trading as Letterhire.com

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Letterhire Limited

trading as Letterhire.com

Contents

Company Information

1

Statement of financial position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Letterhire Limited

trading as Letterhire.com

Company Information

Directors

D Cook

C Smith

Registered office

19 King Street
King's Lynn
Norfolk
PE30 1HB

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers
19 King Street
King's Lynn
Norfolk
PE30 1HB

 

Letterhire Limited

trading as Letterhire.com

(Registration number: 09543246)
Statement of financial position as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,090

8,108

Current assets

 

Stocks

5

13,104

13,104

Creditors: Amounts falling due within one year

6

(13,058)

(27,786)

Net current assets/(liabilities)

 

46

(14,682)

Total assets less current liabilities

 

6,136

(6,574)

Creditors: Amounts falling due after more than one year

6

(3,387)

(4,742)

Provisions for liabilities

(280)

(280)

Net assets/(liabilities)

 

2,469

(11,596)

Capital and reserves

 

Called up share capital

7

1,200

1,200

Retained earnings

1,269

(12,796)

Shareholders' funds/(deficit)

 

2,469

(11,596)

For the financial year ending 31 May 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of comprehensive income.

Approved and authorised by the Board on 16 April 2024 and signed on its behalf by:
 

 

Letterhire Limited

trading as Letterhire.com

(Registration number: 09543246)
Statement of financial position as at 31 May 2023

.........................................
D Cook
Director

 

Letterhire Limited

trading as Letterhire.com

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

1

General information

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

The address of its registered office is:
19 King Street
King's Lynn
Norfolk
PE30 1HB

These financial statements were authorised for issue by the Board on 16 April 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 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 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

The financial statements have been prepared on a going concern basis. The balance shows a deficit of £11,596 however £18,139 is due to the directors which will not be drawn until the company can afford to do so.

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 sales/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 statement of financial position 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.

 

Letterhire Limited

trading as Letterhire.com

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

Plant & Machinery

25% reducing balance

Fixtures & Fittings

25% reducing balance

Motor Vehicles

25% 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 statement of comprehensive income 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.

 

Letterhire Limited

trading as Letterhire.com

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2022

215

732

10,502

11,449

At 31 May 2023

215

732

10,502

11,449

Depreciation

At 1 June 2022

133

583

2,625

3,341

Charge for the year

12

37

1,969

2,018

At 31 May 2023

145

620

4,594

5,359

Carrying amount

At 31 May 2023

70

112

5,908

6,090

At 31 May 2022

82

149

7,877

8,108

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

13,104

13,104

 

Letterhire Limited

trading as Letterhire.com

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

3,198

2,855

Trade creditors

 

720

616

Amounts due to related parties

5,771

18,139

Accruals

 

720

973

Gross amount due to customers for contract work

 

2,649

5,203

 

13,058

27,786

Due after one year

 

Loans and borrowings

3,387

4,742

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,200

1,200

1,200

1,200

       

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.