Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-0130falseNo description of principal activity29true 06094202 2023-04-01 2024-03-31 06094202 2022-04-01 2023-03-31 06094202 2024-03-31 06094202 2023-03-31 06094202 c:Director1 2023-04-01 2024-03-31 06094202 d:PlantMachinery 2023-04-01 2024-03-31 06094202 d:PlantMachinery 2024-03-31 06094202 d:PlantMachinery 2023-03-31 06094202 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06094202 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06094202 d:MotorVehicles 2023-04-01 2024-03-31 06094202 d:MotorVehicles 2024-03-31 06094202 d:MotorVehicles 2023-03-31 06094202 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06094202 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06094202 d:FurnitureFittings 2023-04-01 2024-03-31 06094202 d:FurnitureFittings 2024-03-31 06094202 d:FurnitureFittings 2023-03-31 06094202 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06094202 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06094202 d:ComputerEquipment 2023-04-01 2024-03-31 06094202 d:ComputerEquipment 2024-03-31 06094202 d:ComputerEquipment 2023-03-31 06094202 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06094202 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06094202 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06094202 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06094202 d:Goodwill 2024-03-31 06094202 d:Goodwill 2023-03-31 06094202 d:CurrentFinancialInstruments 2024-03-31 06094202 d:CurrentFinancialInstruments 2023-03-31 06094202 d:Non-currentFinancialInstruments 2024-03-31 06094202 d:Non-currentFinancialInstruments 2023-03-31 06094202 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06094202 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06094202 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06094202 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06094202 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 06094202 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 06094202 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 06094202 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 06094202 d:ShareCapital 2024-03-31 06094202 d:ShareCapital 2023-03-31 06094202 d:RetainedEarningsAccumulatedLosses 2024-03-31 06094202 d:RetainedEarningsAccumulatedLosses 2023-03-31 06094202 c:FRS102 2023-04-01 2024-03-31 06094202 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06094202 c:FullAccounts 2023-04-01 2024-03-31 06094202 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06094202 d:WithinOneYear 2024-03-31 06094202 d:WithinOneYear 2023-03-31 06094202 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 06094202 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 06094202 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 06094202 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 06094202 2 2023-04-01 2024-03-31 06094202 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06094202 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06094202 d:RetirementBenefitObligationsDeferredTax 2024-03-31 06094202 d:RetirementBenefitObligationsDeferredTax 2023-03-31 06094202 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 06094202 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 06094202 d:LeasedAssetsHeldAsLessee 2024-03-31 06094202 d:LeasedAssetsHeldAsLessee 2023-03-31 06094202 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 06094202 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06094202










OURHIRE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
OURHIRE LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 12


 
OURHIRE LIMITED
REGISTERED NUMBER: 06094202

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
10,500
14,000

Tangible assets
 5 
309,299
146,943

  
319,799
160,943

Current assets
  

Stocks
  
2,500
2,500

Debtors: amounts falling due within one year
 6 
330,508
284,525

Cash at bank and in hand
  
107,813
73,129

  
440,821
360,154

Creditors: amounts falling due within one year
 7 
(204,066)
(130,366)

Net current assets
  
 
 
236,755
 
 
229,788

Total assets less current liabilities
  
556,554
390,731

Creditors: amounts falling due after more than one year
 8 
(186,122)
(94,508)

Provisions for liabilities
  

Deferred tax
 11 
(53,924)
(30,652)

  
 
 
(53,924)
 
 
(30,652)

Net assets
  
316,508
265,571


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
316,408
265,471

  
316,508
265,571


Page 1

 
OURHIRE LIMITED
REGISTERED NUMBER: 06094202
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 income statement 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 4 October 2024.




................................................
J Cushing
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Ourhire Limited is a company limited by shares incorporated in England within the United Kingdom, registration number 06094202. The registered office is 35 Englands Road, Acle, Norwich, Norfolk, NR13 3EQ.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

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:

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.

Page 3

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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 over their estimated useful lives as follows:

Depreciation is provided on the following basis:

Plant & machinery
-
10% reducing balance
Motor vehicles
-
20% reducing balance
Fixtures & fittings
-
20% reducing balance
Computer equipment
-
33% reducing balance

  
2.4

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Income Statement over its useful economic life.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the cost of purchase
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

 
2.10

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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

 
2.12

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.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 29).

Page 6

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
70,000



At 31 March 2024

70,000



Amortisation


At 1 April 2023
56,000


Charge for the year on owned assets
3,500



At 31 March 2024

59,500



Net book value



At 31 March 2024
10,500



At 31 March 2023
14,000



Page 7

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
2,340
274,624
28,839
27,278
333,081


Additions
2,095
229,489
-
374
231,958


Disposals
(2,340)
(15,000)
(7,515)
(4,372)
(29,227)



At 31 March 2024

2,095
489,113
21,324
23,280
535,812



Depreciation


At 1 April 2023
1,907
142,310
19,675
22,246
186,138


Charge for the year on owned assets
157
21,330
1,790
1,758
25,035


Charge for the year on financed assets
-
28,882
-
-
28,882


Disposals
(1,907)
-
(7,303)
(4,332)
(13,542)



At 31 March 2024

157
192,522
14,162
19,672
226,513



Net book value



At 31 March 2024
1,938
296,591
7,162
3,608
309,299



At 31 March 2023
433
132,314
9,164
5,032
146,943

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
215,772
58,660

215,772
58,660

Page 8

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
171,928
140,379

Other debtors
150,932
136,984

Prepayments and accrued income
7,648
7,162

330,508
284,525



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
67,749
45,851

Trade creditors
30,763
16,185

Corporation tax
8,346
22,393

Other taxation and social security
24,340
20,805

Obligations under finance lease and hire purchase contracts
62,378
18,061

Other creditors
2,570
1,216

Accruals and deferred income
7,920
5,855

204,066
130,366



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
40,149
89,522

Net obligations under finance leases and hire purchase contracts
145,973
4,986

186,122
94,508


The bank loans and overdraft are secured by the directors personal guarantees as well as charges over personal assets. Net obligations under hire purchase contracts are secured upon the assets to which they relate.

Page 9

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
67,749
45,851


67,749
45,851

Amounts falling due 1-2 years

Bank loans
37,422
49,374


37,422
49,374

Amounts falling due 2-5 years

Bank loans
2,727
40,148


2,727
40,148


107,898
135,373



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
62,377
18,061

Between 1-5 years
145,973
4,986

208,350
23,047
Page 10

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Deferred taxation




2024


£






At beginning of year
(30,652)


Charged to profit or loss
(23,272)



At end of year
(53,924)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(54,133)
(30,956)

Pension surplus
209
304

(53,924)
(30,652)


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,399 (2022 - £9,800). Contributions totalling £1,101 (2022 - £1,216) were payable to the fund at the reporting date.


13.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
73
509

73
509

Page 11

 
OURHIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.


Transactions with directors

At the year end the director owed the company £113,717 (2023: £119,825) which is repayable on demand. The maximum owed in the period was £119,825. A market rate of interest was charged on this loan. 
As at the year end amounts owed from a resigned director amounted to £9,158 (2023: £9,158). 

 
Page 12