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REGISTERED NUMBER: 09379809 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Jubilee Hire Limited

Jubilee Hire Limited (Registered number: 09379809)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jubilee Hire Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr B D Andrews
Mrs S J Andrews





REGISTERED OFFICE: Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG





BUSINESS ADDRESS: Downgate Farm
Silverden Lane
Sandhurst
Kent
TN18 5NU





REGISTERED NUMBER: 09379809 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG

Jubilee Hire Limited (Registered number: 09379809)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 224,759 230,001
224,759 230,001

CURRENT ASSETS
Stocks 2,900 2,320
Debtors 6 23,917 19,738
Cash at bank and in hand 77 106
26,894 22,164
CREDITORS
Amounts falling due within one year 7 184,303 171,939
NET CURRENT LIABILITIES (157,409 ) (149,775 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,350

80,226

CREDITORS
Amounts falling due after more than
one year

8

(47,675

)

(66,353

)

PROVISIONS FOR LIABILITIES (49,447 ) (43,319 )
NET LIABILITIES (29,772 ) (29,446 )

Jubilee Hire Limited (Registered number: 09379809)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (29,872 ) (29,546 )
SHAREHOLDERS' FUNDS (29,772 ) (29,446 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:




Mr B D Andrews - Director



Mrs S J Andrews - Director


Jubilee Hire Limited (Registered number: 09379809)

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

1. STATUTORY INFORMATION

Jubilee 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

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


Jubilee Hire Limited (Registered number: 09379809)

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

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern basis
The directors have prepared cashflow forecasts which indicate that the company will be able to meet all liabilities as they fall due for the foreseeable future. Therefore, the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 20,000
AMORTISATION
At 1 June 2023
and 31 May 2024 20,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Jubilee Hire Limited (Registered number: 09379809)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 584,458 124,249 9,149 717,856
Additions 60,903 - 372 61,275
Disposals (7,552 ) - (400 ) (7,952 )
At 31 May 2024 637,809 124,249 9,121 771,179
DEPRECIATION
At 1 June 2023 395,173 85,110 7,572 487,855
Charge for year 54,471 9,784 1,376 65,631
Eliminated on disposal (6,666 ) - (400 ) (7,066 )
At 31 May 2024 442,978 94,894 8,548 546,420
NET BOOK VALUE
At 31 May 2024 194,831 29,355 573 224,759
At 31 May 2023 189,285 39,139 1,577 230,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 13,909 14,908
Other debtors 10,008 4,830
23,917 19,738

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 82,981 97,475
Hire purchase contracts 18,516 9,787
Trade creditors 13,762 9,371
Taxation and social security 31,301 21,446
Other creditors 37,743 33,860
184,303 171,939

Jubilee Hire Limited (Registered number: 09379809)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 30,333 56,333
Hire purchase contracts 17,342 10,020
47,675 66,353

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank overdrafts 56,981 71,475
Bank loans 56,333 82,333
113,314 153,808

The company has provided a debenture to the bank, including a fixed and floating charge over all assets present and future, to secure the bank borrowing.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

11. PENSION COMMITMENTS

During the year contributions by the company to the scheme were £2,120 (2023: £1,875). At the year end employer contributions of £155 (2023: £155) had not been paid across to the scheme.