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REGISTERED NUMBER: 01678881 (England and Wales)


















Hird Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31st March 2024






Hird Limited (Registered number: 01678881)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


Hird Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: P R Hird
J M Wilding
R J Blanchard
P S Moss
J Timmins





SECRETARY: P R Hird





REGISTERED OFFICE: 127-143 English Street
Hull
East Yorkshire
HU3 2BS





REGISTERED NUMBER: 01678881 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Hird Limited (Registered number: 01678881)

Strategic Report
for the year ended 31st March 2024

The directors present their strategic report for the year ended 31st March 2024.

REVIEW OF BUSINESS
The company's principal activities remain the hire of niche lifting equipment, access platforms, mini cranes and glass handling equipment, along with the provision of machinery movement, installations, relocations and contract lifting services and associated training services.

Principal Risks and Uncertainties
The principal risks and uncertainties during the year were the ongoing conflict in Ukraine and now Israel, culminating in rising costs & inflation across the board. Lead times on products and parts remains lengthy, delaying new investments in products from around the globe.

Early 2024 did not develop as well as previous years due to a lack of confidence in the markets, thus the construction industry output slipped significantly affecting all areas of the business. This was further compounded with a proposed early election to adversely affect confidence in the markets in which we operate.

With various events around the world taking centre stage for funding, most if not all global business will have been impacted in some form, however the company traded very well and exceeded expectations for the year, but is predicted to slow in the forthcoming year with the directors of the business already preparing for a change in trading.


Key Performance Indicators
The company operates a robust KPI on a weekly and monthly basis. These include turnover and costs, profitability, utilisation and cashflow for individual assets. The systems we operate offer weekly indicators allowing the company to respond to challenges in a timely manner and effective way.

Future Development and Performance
The company expects growth to slow in reaction to the markets and proposed new government's in both the UK and Europe through 2024. The business has prepared well for any eventuality in 2024 and remains strong across all areas of the business.

The Director's aim is for a robust and diligent trading throughout 2024/25 with investments continuing and costs being monitored. Asset growth is expected to allow the business to be at the forefront of the latest technologies available to our industry.

ON BEHALF OF THE BOARD:





P R Hird - Director


7th August 2024

Hird Limited (Registered number: 01678881)

Report of the Directors
for the year ended 31st March 2024

The directors present their report with the financial statements of the company for the year ended 31st March 2024.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of access platform, crane and glass lifting equipment hire and sales, machinery moving and training providers.

DIVIDENDS
Interim dividends totalling £352,908 were paid during the year. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31st March 2024 will be £352,908

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

P R Hird
J M Wilding
R J Blanchard
P S Moss
J Timmins

Other changes in directors holding office are as follows:

R P Hird Snr - resigned 30th June 2023
C Hird - resigned 30th June 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Hird Limited (Registered number: 01678881)

Report of the Directors
for the year ended 31st March 2024


AUDITORS
The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P R Hird - Director


7th August 2024

Report of the Independent Auditors to the Members of
Hird Limited

Opinion
We have audited the financial statements of Hird Limited (the 'company') for the year ended 31st March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Hird Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, tax legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

Report of the Independent Auditors to the Members of
Hird Limited


To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were
indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors 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 members as a body, for our audit work, for this report, or for the opinions we have formed.




Luke Taylor (BSc (Hons) ACA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

7th August 2024

Hird Limited (Registered number: 01678881)

Statement of Comprehensive Income
for the year ended 31st March 2024

2024 2023
Notes £    £   

TURNOVER 3 19,498,105 19,316,560

Cost of sales 9,476,278 9,779,491
GROSS PROFIT 10,021,827 9,537,069

Administrative expenses 7,353,170 6,767,860
OPERATING PROFIT 5 2,668,657 2,769,209


Interest payable and similar expenses 7 239,871 229,426
PROFIT BEFORE TAXATION 2,428,786 2,539,783

Tax on profit 8 660,931 497,788
PROFIT FOR THE FINANCIAL YEAR 1,767,855 2,041,995

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,767,855

2,041,995

Hird Limited (Registered number: 01678881)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 17,016,185 15,877,056

CURRENT ASSETS
Stocks 11 877,624 350,367
Debtors 12 4,151,769 3,973,292
Cash at bank and in hand 778,382 820,791
5,807,775 5,144,450
CREDITORS
Amounts falling due within one year 13 4,633,154 4,390,783
NET CURRENT ASSETS 1,174,621 753,667
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,190,806

16,630,723

CREDITORS
Amounts falling due after more than one
year

14

(3,842,167

)

(4,000,225

)

PROVISIONS FOR LIABILITIES 17 (2,381,912 ) (2,078,718 )
NET ASSETS 11,966,727 10,551,780

CAPITAL AND RESERVES
Called up share capital 18 1,000 1,000
Retained earnings 19 11,965,727 10,550,780
SHAREHOLDERS' FUNDS 11,966,727 10,551,780

The financial statements were approved by the Board of Directors and authorised for issue on 7th August 2024 and were signed on its behalf by:





P R Hird - Director


Hird Limited (Registered number: 01678881)

Statement of Changes in Equity
for the year ended 31st March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st April 2022 1,000 8,934,783 8,935,783

Changes in equity
Dividends - (425,998 ) (425,998 )
Total comprehensive income - 2,041,995 2,041,995
Balance at 31st March 2023 1,000 10,550,780 10,551,780

Changes in equity
Dividends - (352,908 ) (352,908 )
Total comprehensive income - 1,767,855 1,767,855
Balance at 31st March 2024 1,000 11,965,727 11,966,727

Hird Limited (Registered number: 01678881)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Hird 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
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standards 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

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

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d).

Turnover
Sale of goods
Turnover from the sale of plant and related goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of the goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from plant hire and training is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to hire periods or when the training courses take place.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

The rates generally applicable are:-

Long leasehold2% on cost
Improvement to property15% on reducing balance
Plant and machinery10 to 25% on reducing balance
Fixtures and fittings15% on reducing balance
Motor vehicles25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Hird Limited (Registered number: 01678881)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

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 transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Hird Limited (Registered number: 01678881)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Goods 2,155,941 2,667,833
Services 17,342,164 16,648,727
19,498,105 19,316,560

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,616,156 5,075,120
Social security costs 516,542 523,401
Other pension costs 266,465 262,916
6,399,163 5,861,437

The average number of employees during the year was as follows:
2024 2023

Directors 6 7
Admin 12 12
Labour 91 82
109 101

2024 2023
£    £   
Directors' remuneration 410,158 432,679
Directors' pension contributions to money purchase schemes 154,142 131,825

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 5 5

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 108,716 102,650
Pension contributions to money purchase schemes 1,347 1,347

Hird Limited (Registered number: 01678881)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 884,219 782,664
Depreciation - assets on hire purchase contracts 1,110,419 1,129,331
Loss on disposal of fixed assets 13,989 62,554
Auditors' remuneration 22,452 19,739

6. EXCEPTIONAL ITEMS
2024 2023
£    £   
Intercompany loan write off (152,304 ) -

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 1,908 2,701
Bank loan interest 15,619 14,972
Hire purchase interest 222,344 211,753
239,871 229,426

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 357,737 387,245

Deferred tax 303,194 110,543
Tax on profit 660,931 497,788

Hird Limited (Registered number: 01678881)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 2,428,786 2,539,783
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

607,197

482,559

Effects of:
Expenses not deductible for tax purposes 24,230 10,197
Depreciation on non qualifying assets 4,433 3,377
Change in tax rate - 25,429

Other adjustments 25,071 (23,774 )
Total tax charge 660,931 497,788

9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 352,908 425,998

10. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1st April 2023 864,955 21,717,562 505,298 23,087,815
Additions - 3,074,363 289,601 3,363,964
Disposals - (692,599 ) (48,750 ) (741,349 )
At 31st March 2024 864,955 24,099,326 746,149 25,710,430
DEPRECIATION
At 1st April 2023 93,405 6,900,071 217,283 7,210,759
Charge for year 17,731 1,860,679 116,228 1,994,638
Eliminated on disposal - (473,708 ) (37,444 ) (511,152 )
At 31st March 2024 111,136 8,287,042 296,067 8,694,245
NET BOOK VALUE
At 31st March 2024 753,819 15,812,284 450,082 17,016,185
At 31st March 2023 771,550 14,817,491 288,015 15,877,056

The net book value of assets includes £9,002,224 (2023 £8,596,866) in respect of assets held under hire purchase contracts.

Hird Limited (Registered number: 01678881)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

11. STOCKS
2024 2023
£    £   
Stocks 877,624 350,367

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,921,802 2,955,912
Amounts owed by group undertakings - 152,304
Other debtors 1,134,631 797,523
Prepayments 95,336 67,553
4,151,769 3,973,292

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 15) 2,129,076 2,152,436
Trade creditors 1,575,538 1,209,215
Amounts owed to group undertakings 65,455 6,293
Tax 176,891 186,882
Social security and other taxes 177,376 135,909
VAT 319,245 602,460
Other creditors 111,602 29,015
Accruals and deferred income 77,971 68,573
4,633,154 4,390,783

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 15) 3,842,167 4,000,225

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,129,076 2,152,436
Between one and five years 3,842,167 4,000,225
5,971,243 6,152,661

Hird Limited (Registered number: 01678881)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

15. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 281,033 282,838
Between one and five years 742,007 280,541
In more than five years 427,176 -
1,450,216 563,379

16. SECURED DEBTS

The invoice discounting facility is secured by way of a legal charge, a debenture and guarantee of £550,000 over the land, reserves and plant and machinery owned by the company.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 2,382,956 2,074,128
Short term timing differences (1,044 ) 4,590
2,381,912 2,078,718

Deferred
tax
£   
Balance at 1st April 2023 2,078,718
Charge to Statement of Comprehensive Income during year 303,194
Balance at 31st March 2024 2,381,912

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

Hird Limited (Registered number: 01678881)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

19. RESERVES
Retained
earnings
£   

At 1st April 2023 10,550,780
Profit for the year 1,767,855
Dividends (352,908 )
At 31st March 2024 11,965,727

Retained earnings

Retained earnings represents cumulative profits and losses net of dividends and other adjustments.

20. PENSION COMMITMENTS

The company makes payments to defined contribution schemes for its directors and certain employees. The charge for the year amounted to £266,466 (2023 £262,916). At 31st March 2024 outstanding contributions amounted to £4,275 (2023 £1,719).

21. ULTIMATE PARENT COMPANY

The ultimate parent company is Hird Group Holdings Limited, the registered address of this company is the same as the address which can be found on page 1 of the financial statements.

The group in which the results of the company are consolidated is that headed by Hird Group Holdings Limited. The consolidated financial statements of the group are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

22. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with members of the group.

Entities with control, or significant influence over the entity.
During the year the company incurred costs of £74,520 (2023 £72,960) from Peter Hird and Sons Limited , an associated company. The amount due at 31st March 2024 was £697,327 (2023
£694,382).

Key management personnel of the entity (in the aggregate)

2024 2023
£ £
Remuneration 620,033 599,756

23. ULTIMATE CONTROLLING PARTY

P R Hird is the ultimate controlling party over the company.