IRIS Accounts Production v24.1.0.578 NI047336 director 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI0473362022-12-31NI0473362023-12-31NI0473362023-01-012023-12-31NI0473362021-12-31NI0473362022-01-012022-12-31NI0473362022-12-31NI047336ns15:NorthernIreland2023-01-012023-12-31NI047336ns14:PoundSterling2023-01-012023-12-31NI047336ns10:Director12023-01-012023-12-31NI047336ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31NI047336ns10:SmallEntities2023-01-012023-12-31NI047336ns10:AuditExemptWithAccountantsReport2023-01-012023-12-31NI047336ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31NI047336ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31NI047336ns10:FullAccounts2023-01-012023-12-31NI04733612023-01-012023-12-31NI047336ns10:CompanySecretary12023-01-012023-12-31NI047336ns10:RegisteredOffice2023-01-012023-12-31NI047336ns5:CurrentFinancialInstruments2023-12-31NI047336ns5:CurrentFinancialInstruments2022-12-31NI047336ns5:Non-currentFinancialInstruments2023-12-31NI047336ns5:Non-currentFinancialInstruments2022-12-31NI047336ns5:ShareCapital2023-12-31NI047336ns5:ShareCapital2022-12-31NI047336ns5:RetainedEarningsAccumulatedLosses2023-12-31NI047336ns5:RetainedEarningsAccumulatedLosses2022-12-31NI047336ns5:NetGoodwill2023-01-012023-12-31NI047336ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-012023-12-31NI047336ns5:PlantMachinery2023-01-012023-12-31NI047336ns5:FurnitureFittings2023-01-012023-12-31NI047336ns5:NetGoodwill2022-12-31NI047336ns5:NetGoodwill2023-12-31NI047336ns5:NetGoodwill2022-12-31NI047336ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-31NI047336ns5:PlantMachinery2022-12-31NI047336ns5:FurnitureFittings2022-12-31NI047336ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-31NI047336ns5:PlantMachinery2023-12-31NI047336ns5:FurnitureFittings2023-12-31NI047336ns5:LongLeaseholdAssetsns5:LandBuildings2022-12-31NI047336ns5:PlantMachinery2022-12-31NI047336ns5:FurnitureFittings2022-12-31NI047336ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-31NI047336ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2022-12-31NI047336ns5:LeasedAssetsHeldAsLessee2022-12-31NI047336ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-31NI047336ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-01-012023-12-31NI047336ns5:LeasedAssetsHeldAsLessee2023-01-012023-12-31NI047336ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-31NI047336ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-12-31NI047336ns5:LeasedAssetsHeldAsLessee2023-12-31NI047336ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-31NI047336ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2022-12-31NI047336ns5:LeasedAssetsHeldAsLessee2022-12-31NI047336ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31NI047336ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31NI0473361ns10:Director12022-12-31NI0473361ns10:Director12021-12-31NI0473361ns10:Director12023-01-012023-12-31NI0473361ns10:Director12022-01-012022-12-31NI0473361ns10:Director12023-12-31NI0473361ns10:Director12022-12-31
REGISTERED NUMBER: NI047336 (Northern Ireland)













W T HIRE STRABANE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






W T HIRE STRABANE LIMITED (REGISTERED NUMBER: NI047336)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


W T HIRE STRABANE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr W Hawkes



SECRETARY: Mrs C Hawkes



REGISTERED OFFICE: 91A Melmount Road
STRABANE
Co. Tyrone
BT82 9PX



REGISTERED NUMBER: NI047336 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Santander
10 Market Street
Omagh
Co.Tyrone
BT78 1EH



SOLICITORS: McConnell & Fyffe
Solicitors
21 Church Street
OMAGH
Co. Tyrone
BT78 1DG

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
W T HIRE STRABANE 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's director that we have done so, and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 December 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


30 April 2024

W T HIRE STRABANE LIMITED (REGISTERED NUMBER: NI047336)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,000
Tangible assets 5 628,979 510,316
628,979 511,316

CURRENT ASSETS
Stocks 5,575 9,555
Debtors 6 73,765 90,521
Cash at bank 113,021 4,513
192,361 104,589
CREDITORS
Amounts falling due within one year 7 266,977 198,834
NET CURRENT LIABILITIES (74,616 ) (94,245 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

554,363

417,071

CREDITORS
Amounts falling due after more than one
year

8

(378,828

)

(303,623

)

PROVISIONS FOR LIABILITIES (55,392 ) (40,960 )
NET ASSETS 120,143 72,488

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 120,043 72,388
SHAREHOLDERS' FUNDS 120,143 72,488

W T HIRE STRABANE LIMITED (REGISTERED NUMBER: NI047336)

BALANCE SHEET - continued
31 DECEMBER 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 30 April 2024 and were signed by:





Mr W Hawkes - Director


W T HIRE STRABANE LIMITED (REGISTERED NUMBER: NI047336)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

W T Hire Strabane Limited is a private company, limited by shares , registered in Northern Ireland. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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.
Fixtures & fittings - 10% straight line
Plant & machinery (hire) - 15% straight line
Plant & machinery (non hire) - 25% straight line

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 that have been enacted or substantively enacted by the balance sheet date.


W T HIRE STRABANE LIMITED (REGISTERED NUMBER: NI047336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

W T HIRE STRABANE LIMITED (REGISTERED NUMBER: NI047336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023 29,000
Charge for year 1,000
At 31 December 2023 30,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 1,000

5. TANGIBLE FIXED ASSETS
Plant &
Plant & machinery
Fixtures machinery (non
& fittings (hire) hire) Totals
£    £    £    £   
COST
At 1 January 2023 2,310 1,648,817 71,642 1,722,769
Additions - 257,109 54,119 311,228
Disposals - - (8,681 ) (8,681 )
At 31 December 2023 2,310 1,905,926 117,080 2,025,316
DEPRECIATION
At 1 January 2023 2,310 1,142,816 67,327 1,212,453
Charge for year - 175,532 14,558 190,090
Eliminated on disposal - - (6,206 ) (6,206 )
At 31 December 2023 2,310 1,318,348 75,679 1,396,337
NET BOOK VALUE
At 31 December 2023 - 587,578 41,401 628,979
At 31 December 2022 - 506,001 4,315 510,316

W T HIRE STRABANE LIMITED (REGISTERED NUMBER: NI047336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant &
Plant & machinery
machinery (non
(hire) hire) Totals
£    £    £   
COST
At 1 January 2023 572,744 - 572,744
Additions 240,157 44,238 284,395
Transfer to ownership (140,050 ) - (140,050 )
At 31 December 2023 672,851 44,238 717,089
DEPRECIATION
At 1 January 2023 181,866 - 181,866
Charge for year 100,928 11,059 111,987
Transfer to ownership (65,498 ) - (65,498 )
At 31 December 2023 217,296 11,059 228,355
NET BOOK VALUE
At 31 December 2023 455,555 33,179 488,734
At 31 December 2022 390,878 - 390,878

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 70,756 77,691
Other debtors 3,009 12,830
73,765 90,521

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,648 35,648
Hire purchase contracts 183,260 127,789
Trade creditors 40,758 16,025
Taxation and social security 786 13,872
Other creditors 6,525 5,500
266,977 198,834

W T HIRE STRABANE LIMITED (REGISTERED NUMBER: NI047336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 105,965 140,030
Hire purchase contracts 198,012 163,593
Other creditors 74,851 -
378,828 303,623

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Director's loan 74,851 -

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following loans from a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr W Hawkes
Balance outstanding at start of year 12,830 -
Amounts advanced - 12,830
Amounts repaid (12,830 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 12,830

At the year end the company had a loan amounting to £74,851 from members of key management personnel.

There is no repayment date for this loan and interest is not currently being charged.

The loan is presented within creditors: amounts falling due after one year.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr W Hawkes.