Caseware UK (AP4) 2023.0.135 2023.0.135 falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01No description of principal activity55falsetrue NI021622 2023-01-01 2023-12-31 NI021622 2022-01-01 2022-12-31 NI021622 2023-12-31 NI021622 2022-12-31 NI021622 c:Director2 2023-01-01 2023-12-31 NI021622 d:PlantMachinery 2023-01-01 2023-12-31 NI021622 d:PlantMachinery 2023-12-31 NI021622 d:PlantMachinery 2022-12-31 NI021622 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 NI021622 d:ComputerEquipment 2023-01-01 2023-12-31 NI021622 d:ComputerEquipment 2023-12-31 NI021622 d:ComputerEquipment 2022-12-31 NI021622 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 NI021622 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 NI021622 d:CurrentFinancialInstruments 2023-12-31 NI021622 d:CurrentFinancialInstruments 2022-12-31 NI021622 d:Non-currentFinancialInstruments 2023-12-31 NI021622 d:Non-currentFinancialInstruments 2022-12-31 NI021622 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI021622 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 NI021622 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 NI021622 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 NI021622 d:ShareCapital 2023-12-31 NI021622 d:ShareCapital 2022-12-31 NI021622 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI021622 d:RetainedEarningsAccumulatedLosses 2022-12-31 NI021622 c:OrdinaryShareClass1 2023-01-01 2023-12-31 NI021622 c:OrdinaryShareClass1 2023-12-31 NI021622 c:OrdinaryShareClass1 2022-12-31 NI021622 c:FRS102 2023-01-01 2023-12-31 NI021622 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 NI021622 c:FullAccounts 2023-01-01 2023-12-31 NI021622 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI021622 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI021622










P.R.O. Hire Centre (Derry) Limited








Unaudited

Financial statements

For the Year Ended 31 December 2023

 
P.R.O. Hire Centre (Derry) Limited
Registered number:NI021622

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
287,641
354,949

  
287,641
354,949

Current assets
  

Stocks
  
4,258
5,832

Debtors: amounts falling due within one year
 6 
26,560
29,557

Cash at bank and in hand
 7 
1,738
12,627

  
32,556
48,016

Creditors: amounts falling due within one year
 8 
(138,082)
(167,787)

Net current liabilities
  
 
 
(105,526)
 
 
(119,771)

Total assets less current liabilities
  
182,115
235,178

Creditors: amounts falling due after more than one year
 9 
(37,880)
(86,935)

  

Net assets
  
144,235
148,243


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
144,135
148,143

  
144,235
148,243

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P.R.O. Hire Centre (Derry) Limited
Registered number:NI021622

Balance Sheet (continued)
As at 31 December 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2024.




Charles McGinn
Director

The notes on pages 3 to 8 form part of these financial statements.
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P.R.O. Hire Centre (Derry) Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

1.


General information

P.R.O. Hire Centre (Derry) Limited is a private company limited by shares incorporated in Northern Ireland.  The registration number and address of the registered office are given in the company information section of these financial statements. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors of P.R.O. Hire Centre (Derry) Limited have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future. 
Accordingly, P.R.O. Hire Centre (Derry) Limited continues to adopt the going concern basis in preparing the financial statements.

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P.R.O. Hire Centre (Derry) Limited
 

Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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P.R.O. Hire Centre (Derry) Limited
 

Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Reducing Balance
Computer equipment
-
20%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the process of applying the Company's accounting policies, management has not made any significant judgements.  There are no key assumptions concerning the future or other key sources of estimation that have a significant risk of raising a material asjustment to the carrying amounts of assets or liabilities within the next financial period. 

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Page 5

 
P.R.O. Hire Centre (Derry) Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

4.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


5.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
774,845
3,400
778,245


Disposals
(65,900)
-
(65,900)



At 31 December 2023

708,945
3,400
712,345



Depreciation


At 1 January 2023
422,616
680
423,296


Charge for the year on owned assets
35,244
544
35,788


Disposals
(34,380)
-
(34,380)



At 31 December 2023

423,480
1,224
424,704



Net book value



At 31 December 2023
285,465
2,176
287,641



At 31 December 2022
352,229
2,720
354,949

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P.R.O. Hire Centre (Derry) Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

6.


Debtors

2023
2022
£
£


Trade debtors
22,206
29,557

Prepayments and accrued income
4,354
-

26,560
29,557



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,738
12,627

1,738
12,627



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,648
10,648

Other loans
5,000
5,000

Trade creditors
24,078
41,749

Other taxation and social security
32,957
12,830

Obligations under finance lease and hire purchase contracts
36,475
51,867

Other creditors
5,512
3,519

Accruals and deferred income
23,412
42,174

138,082
167,787



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,108
23,379

Other loans
1,250
6,250

Net obligations under finance leases and hire purchase contracts
20,522
57,306

37,880
86,935


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Page 7

 
P.R.O. Hire Centre (Derry) Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


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