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REGISTERED NUMBER: 04633375 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

CMS Hire Limited

CMS Hire Limited (Registered number: 04633375)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CMS Hire Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J Brimble
S Cooper
Mrs S E Cooper
R E Cooper
Mrs S J Jevons





SECRETARY: Mrs S E Cooper





REGISTERED OFFICE: 3 Dale Street
Bilston
Wolverhampton
West Midlands
WV14 7JY





REGISTERED NUMBER: 04633375 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

CMS Hire Limited (Registered number: 04633375)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,302,518 7,121,690

CURRENT ASSETS
Debtors 5 480,929 392,843
Cash at bank 267,835 354,324
748,764 747,167
CREDITORS
Amounts falling due within one year 6 2,277,196 1,913,030
NET CURRENT LIABILITIES (1,528,432 ) (1,165,863 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,774,086

5,955,827

CREDITORS
Amounts falling due after more than one
year

7

(4,208,413

)

(3,595,698

)

PROVISIONS FOR LIABILITIES (595,150 ) (522,783 )
NET ASSETS 1,970,523 1,837,346

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,970,423 1,837,246
SHAREHOLDERS' FUNDS 1,970,523 1,837,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CMS Hire Limited (Registered number: 04633375)

Balance Sheet - continued
31 January 2024


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 Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





S Cooper - Director


CMS Hire Limited (Registered number: 04633375)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

CMS Hire 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
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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about CMS Hire Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
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 wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Subsequent to the depreciation charge, directors annually review the Net Book Value of tangible fixed assets. This value is amended to more accurately reflect the value of the assets through the reduction in the annual depreciation charge.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


CMS Hire Limited (Registered number: 04633375)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases and hire purchase contracts are charged to the profit or loss on a straight line basis over the period of the lease or hire purchase contract.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2023 89,700 32,816 8,600,921 8,723,437
Additions - - 2,209,275 2,209,275
Disposals - - (389,343 ) (389,343 )
At 31 January 2024 89,700 32,816 10,420,853 10,543,369
DEPRECIATION
At 1 February 2023 70,778 28,019 1,502,950 1,601,747
Charge for year 4,731 720 1,381,566 1,387,017
Eliminated on disposal - - (323,343 ) (323,343 )
Revaluation adjustments - - (424,570 ) (424,570 )
At 31 January 2024 75,509 28,739 2,136,603 2,240,851
NET BOOK VALUE
At 31 January 2024 14,191 4,077 8,284,250 8,302,518
At 31 January 2023 18,922 4,797 7,097,971 7,121,690

CMS Hire Limited (Registered number: 04633375)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 January 2024 is represented by:

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost 89,700 32,816 10,420,853 10,543,369

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 February 2023 7,558,985
Additions 2,209,275
At 31 January 2024 9,768,260
DEPRECIATION
At 1 February 2023 862,292
Charge for year 1,331,274
Revaluation adjustments (443,596 )
At 31 January 2024 1,749,970
NET BOOK VALUE
At 31 January 2024 8,018,290
At 31 January 2023 6,696,693

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 90,061 112,702
Amounts owed by participating interests 108,570 -
Other debtors 5,874 134,118
Directors' current accounts - 1,287
Prepayments and accrued income 276,424 137,000
480,929 385,107

Amounts falling due after more than one year:
Tax - 7,736

Aggregate amounts 480,929 392,843

CMS Hire Limited (Registered number: 04633375)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 104,554 85,648
Hire purchase contracts (see note 9) 1,771,894 1,432,064
Trade creditors 260,289 250,334
Amounts owed to participating interests 2,524 2,524
Tax 67 -
VAT 42,216 51,204
Directors' loan accounts 85,221 85,000
Accruals and deferred income 10,431 6,256
2,277,196 1,913,030

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 157,063 60,879
Hire purchase contracts (see note 9) 3,292,697 2,863,057
Amounts owed to group undertakings 757,804 670,913
Amounts owed to participating interests 849 849
4,208,413 3,595,698

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 104,554 85,648

Amounts falling due between two and five years:
Bank loans - 2-5 years 157,063 60,879

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 1,771,894 1,432,064
Between one and five years 3,292,697 2,863,057
5,064,591 4,295,121

CMS Hire Limited (Registered number: 04633375)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 73,500 73,500

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 261,617 146,527
Hire purchase contracts 5,064,591 4,295,121
5,326,208 4,441,648

The bank overdraft, loans and hire purchase obligations are secured by a fixed and floating charge. The floating charge covers all the property or undertaking of the company. Contains negative pledge.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

12. CONTINGENT LIABILITIES

The company is part of a composite unlimited multilateral guarantee dated 26 September 2007 in favour of HSBC Bank, which includes all fellow subsidiary companies.

13. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 517,625 517,625

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
R E Cooper and Mrs S E Cooper
Balance outstanding at start of year 1,287 408
Amounts advanced - 879
Amounts repaid (1,287 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,287