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REGISTERED NUMBER: 03227863 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NBM HIRE LIMITED

NBM HIRE LIMITED (REGISTERED NUMBER: 03227863)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NBM HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: T P J Cooney
Mrs J Cooney





REGISTERED OFFICE: Cromwell Road
Penrith
Cumbria
CA11 7JW





REGISTERED NUMBER: 03227863 (England and Wales)





ACCOUNTANTS: Christian Douglass Accountants Limited
Chartered Accountants
The Old Stables
Edenhall
Penrith
CA11 8ST

NBM HIRE LIMITED (REGISTERED NUMBER: 03227863)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,604 60,609

CURRENT ASSETS
Debtors 5 63,412 34,421
Cash at bank and in hand 43,003 64,147
106,415 98,568
CREDITORS
Amounts falling due within one year 6 104,287 70,778
NET CURRENT ASSETS 2,128 27,790
TOTAL ASSETS LESS CURRENT
LIABILITIES

87,732

88,399

CREDITORS
Amounts falling due after more than one
year

7

(21,650

)

(29,828

)

PROVISIONS FOR LIABILITIES (21,401 ) (15,153 )
NET ASSETS 44,681 43,418

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 44,679 43,416
SHAREHOLDERS' FUNDS 44,681 43,418

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 26 September 2024 and were signed on its behalf by:





T P J Cooney - Director


NBM HIRE LIMITED (REGISTERED NUMBER: 03227863)

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

1. STATUTORY INFORMATION

NBM Hire Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number is 03227863 and its registered office address is at Cromwell Road, Penrith, Cumbria,
CA11 7JW.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Government grants
Government grants which are capital-based and for which the company has met the required conditions for payment are recognised as deferred income on receipt. Deferred income is subsequently recognised as income in the income statement on a systematic basis over the periods in which the assets, towards which the grant is intended to contribute, are depreciated. Government grants which are revenue-based are recognised as income in the income statement when any performance related conditions have been met.

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

NBM HIRE LIMITED (REGISTERED NUMBER: 03227863)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 150,074
Additions 57,609
Disposals (11,065 )
At 31 December 2023 196,618
DEPRECIATION
At 1 January 2023 89,465
Charge for year 28,535
Eliminated on disposal (6,986 )
At 31 December 2023 111,014
NET BOOK VALUE
At 31 December 2023 85,604
At 31 December 2022 60,609

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 92,750
Additions 19,000
Transfer to ownership (63,500 )
At 31 December 2023 48,250
DEPRECIATION
At 1 January 2023 56,205
Charge for year 8,863
Transfer to ownership (43,408 )
At 31 December 2023 21,660
NET BOOK VALUE
At 31 December 2023 26,590
At 31 December 2022 36,545

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 25,746 20,009
Other debtors 37,666 14,412
63,412 34,421

NBM HIRE LIMITED (REGISTERED NUMBER: 03227863)

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 10,000 10,000
Hire purchase contracts 9,219 15,644
Trade creditors 39,677 10,205
Taxation and social security 14,971 8,173
Other creditors 30,420 26,756
104,287 70,778

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 15,000 25,000
Hire purchase contracts 6,650 4,828
21,650 29,828

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 15,869 20,472

Hire purchase contracts are secured on the assets concerned.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amount due from the directors to the company at the end of the year is £24,030 (2022: Creditor), interest was charged on the loan at 2.5%. The loan was repaid post year end.