Company Registration No. 14682779 (England and Wales)
STAND OUT HIRE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
STAND OUT HIRE LTD
COMPANY INFORMATION
Directors
Mr C R T M Fellows
(Appointed 22 February 2023)
Mr P D Middleton
(Appointed 22 February 2023)
Mr J W Burgess
(Appointed 22 February 2023)
Company number
14682779
Registered office
Palmers House
7 Corve Street
Ludlow
Shropshire
SY8 1DB
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
STAND OUT HIRE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
STAND OUT HIRE LTD
BALANCE SHEET
AS AT 29 FEBRUARY 2024
29 February 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
67,541
Current assets
Debtors
4
5,049
Cash at bank and in hand
40,706
45,755
Creditors: amounts falling due within one year
5
(13,261)
Net current assets
32,494
Total assets less current liabilities
100,035
Creditors: amounts falling due after more than one year
6
(99,648)
Provisions for liabilities
(12,833)
Net liabilities
(12,446)
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
(12,546)
Total equity
(12,446)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
STAND OUT HIRE LTD
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024
29 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 August 2024 and are signed on its behalf by:
Mr J W Burgess
Director
Company Registration No. 14682779
STAND OUT HIRE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information
Stand Out Hire Ltd is a private company limited by shares incorporated in England and Wales within the United Kingdom.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. 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.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
3, 4 and 6 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
STAND OUT HIRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 0.
3
Tangible fixed assets
Plant and equipment
£
Cost
At 22 February 2023
Additions
83,721
At 29 February 2024
83,721
Depreciation and impairment
At 22 February 2023
Depreciation charged in the period
16,180
At 29 February 2024
16,180
Carrying amount
At 29 February 2024
67,541
STAND OUT HIRE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 FEBRUARY 2024
- 5 -
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
1,704
Unpaid share capital
100
Other debtors
2,220
Prepayments and accrued income
1,025
5,049
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
3,714
Other creditors
8,084
Accruals and deferred income
1,463
13,261
6
Creditors: amounts falling due after more than one year
2024
£
Other creditors
99,648
7
Called up share capital
2024
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100