IRIS Accounts Production v24.1.9.2 10187744 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 0.010 0.010 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh101877442022-12-31101877442023-12-31101877442023-01-012023-12-31101877442021-12-31101877442022-01-012022-12-31101877442022-12-3110187744ns15:EnglandWales2023-01-012023-12-3110187744ns14:PoundSterling2023-01-012023-12-3110187744ns10:Director12023-01-012023-12-3110187744ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3110187744ns10:SmallEntities2023-01-012023-12-3110187744ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3110187744ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3110187744ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3110187744ns10:FullAccounts2023-01-012023-12-3110187744ns10:OrdinaryShareClass12023-01-012023-12-3110187744ns10:OrdinaryShareClass112023-01-012023-12-3110187744ns10:Director22023-01-012023-12-3110187744ns10:CompanySecretary12023-01-012023-12-3110187744ns10:RegisteredOffice2023-01-012023-12-3110187744ns5:CurrentFinancialInstruments2023-12-3110187744ns5:CurrentFinancialInstruments2022-12-3110187744ns5:Non-currentFinancialInstruments2023-12-3110187744ns5:Non-currentFinancialInstruments2022-12-3110187744ns5:ShareCapital2023-12-3110187744ns5:ShareCapital2022-12-3110187744ns5:SharePremium2023-12-3110187744ns5:SharePremium2022-12-3110187744ns5:RetainedEarningsAccumulatedLosses2023-12-3110187744ns5:RetainedEarningsAccumulatedLosses2022-12-3110187744ns5:LeaseholdImprovements2023-01-012023-12-3110187744ns5:FurnitureFittings2023-01-012023-12-3110187744ns5:ComputerEquipment2023-01-012023-12-3110187744ns5:PlantMachinery2022-12-3110187744ns5:PlantMachinery2023-01-012023-12-3110187744ns5:PlantMachinery2023-12-3110187744ns5:PlantMachinery2022-12-3110187744ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3110187744ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3110187744ns5:Secured2023-12-3110187744ns5:Secured2022-12-3110187744ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 10187744 (England and Wales)















CO-HIRE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






CO-HIRE LTD (REGISTERED NUMBER: 10187744)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


CO-HIRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: W Edwards
B Henley-Smith



SECRETARY: OHS Secretaries Limited



REGISTERED OFFICE: 134 Tooley Street
London
SE1 2TU



REGISTERED NUMBER: 10187744 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: Lloyds Bank Plc
1 Legg Street
Chelmsford
Essex
CM1 1JS

CO-HIRE LTD (REGISTERED NUMBER: 10187744)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,070 45,151

CURRENT ASSETS
Debtors 5 707,071 1,032,222
Cash at bank 481,899 670,096
1,188,970 1,702,318
CREDITORS
Amounts falling due within one year 6 716,103 1,610,233
NET CURRENT ASSETS 472,867 92,085
TOTAL ASSETS LESS CURRENT LIABILITIES 498,937 137,236

CREDITORS
Amounts falling due after more than one year 7 (10,938 ) (29,688 )

PROVISIONS FOR LIABILITIES (3,643 ) -
NET ASSETS 484,356 107,548

CAPITAL AND RESERVES
Called up share capital 9 101 100
Share premium 1 -
Retained earnings 484,254 107,448
SHAREHOLDERS' FUNDS 484,356 107,548

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 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 1 August 2024 and were signed on its behalf by:




B Henley-Smith - Director


CO-HIRE LTD (REGISTERED NUMBER: 10187744)

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

1. STATUTORY INFORMATION

Co-Hire Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 15 years
Fixtures and fittings - Straight line over 5 years
Computer equipment - 33.3% on cost

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

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.


CO-HIRE LTD (REGISTERED NUMBER: 10187744)

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 statement of financial position 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.

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 the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 41 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 65,346
Additions 1,458
Disposals (4,404 )
At 31 December 2023 62,400
DEPRECIATION
At 1 January 2023 20,195
Charge for year 18,139
Eliminated on disposal (2,004 )
At 31 December 2023 36,330
NET BOOK VALUE
At 31 December 2023 26,070
At 31 December 2022 45,151

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 68,979 207,005
Other debtors 638,092 825,217
707,071 1,032,222

CO-HIRE LTD (REGISTERED NUMBER: 10187744)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 23,121 689,925
Trade creditors 14,466 30,680
Taxation and social security 253,438 342,859
Other creditors 425,078 546,769
716,103 1,610,233

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 10,938 29,688

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 29,688 704,836

The bounce back loan is secured by the UK Government.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,008,090 Ordinary 0.000 1 101 100

8,028 Ordinary shares of 0.0001 each were allotted and fully paid for cash at par during the year.

62 Ordinary shares of 0.0001 each were allotted as fully paid at a premium of 1.6p per share during the year.

10. RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £226,636 (2022: £278,474) owed by Cord Technology Inc (a US subsidiary company).