IRIS Accounts Production v24.3.0.553 06194022 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh061940222023-03-31061940222024-03-31061940222023-04-012024-03-31061940222022-03-31061940222022-04-012023-03-31061940222023-03-3106194022ns15:EnglandWales2023-04-012024-03-3106194022ns14:PoundSterling2023-04-012024-03-3106194022ns10:Director12023-04-012024-03-3106194022ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106194022ns10:SmallEntities2023-04-012024-03-3106194022ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106194022ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106194022ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106194022ns10:FullAccounts2023-04-012024-03-3106194022ns10:Director22023-04-012024-03-3106194022ns10:CompanySecretary12023-04-012024-03-3106194022ns10:RegisteredOffice2023-04-012024-03-3106194022ns5:CurrentFinancialInstruments2024-03-3106194022ns5:CurrentFinancialInstruments2023-03-3106194022ns5:Non-currentFinancialInstruments2024-03-3106194022ns5:Non-currentFinancialInstruments2023-03-3106194022ns5:ShareCapital2024-03-3106194022ns5:ShareCapital2023-03-3106194022ns5:RevaluationReserve2024-03-3106194022ns5:RevaluationReserve2023-03-3106194022ns5:RetainedEarningsAccumulatedLosses2024-03-3106194022ns5:RetainedEarningsAccumulatedLosses2023-03-3106194022ns5:PlantMachinery2023-03-3106194022ns5:FurnitureFittings2023-03-3106194022ns5:MotorVehicles2023-03-3106194022ns5:PlantMachinery2023-04-012024-03-3106194022ns5:FurnitureFittings2023-04-012024-03-3106194022ns5:MotorVehicles2023-04-012024-03-3106194022ns5:PlantMachinery2024-03-3106194022ns5:FurnitureFittings2024-03-3106194022ns5:MotorVehicles2024-03-3106194022ns5:PlantMachinery2023-03-3106194022ns5:FurnitureFittings2023-03-3106194022ns5:MotorVehicles2023-03-3106194022ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3106194022ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3106194022ns5:LeasedAssetsHeldAsLessee2023-03-3106194022ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3106194022ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3106194022ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3106194022ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3106194022ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3106194022ns5:LeasedAssetsHeldAsLessee2024-03-3106194022ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3106194022ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3106194022ns5:LeasedAssetsHeldAsLessee2023-03-3106194022ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106194022ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106194022ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106194022ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106194022ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3106194022ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3106194022ns5:HirePurchaseContracts2024-03-3106194022ns5:HirePurchaseContracts2023-03-3106194022ns5:WithinOneYear2024-03-3106194022ns5:WithinOneYear2023-03-3106194022ns5:BetweenOneFiveYears2024-03-3106194022ns5:BetweenOneFiveYears2023-03-3106194022ns5:AllPeriods2024-03-3106194022ns5:AllPeriods2023-03-3106194022ns5:Secured2024-03-3106194022ns5:Secured2023-03-31061940221ns10:Director12023-03-31061940221ns10:Director12022-03-31061940221ns10:Director12023-04-012024-03-31061940221ns10:Director12022-04-012023-03-31061940221ns10:Director12024-03-31061940221ns10:Director12023-03-31
REGISTERED NUMBER: 06194022 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HIRELINK UK (MIDLANDS) LIMITED

HIRELINK UK (MIDLANDS) LIMITED (REGISTERED NUMBER: 06194022)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIRELINK UK (MIDLANDS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D Green
J Leeney





SECRETARY: D Green





REGISTERED OFFICE: 13-19 Gate Lane
Boldmere
Sutton Coldfield
West Midlands
B73 5TR





REGISTERED NUMBER: 06194022 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

HIRELINK UK (MIDLANDS) LIMITED (REGISTERED NUMBER: 06194022)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,747,094 1,627,865

CURRENT ASSETS
Stocks 13,000 13,000
Debtors 5 311,540 343,350
Cash at bank 134,032 107,339
458,572 463,689
CREDITORS
Amounts falling due within one year 6 581,748 529,405
NET CURRENT LIABILITIES (123,176 ) (65,716 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,623,918

1,562,149

CREDITORS
Amounts falling due after more than one
year

7

(431,873

)

(376,211

)

PROVISIONS FOR LIABILITIES (406,020 ) (359,155 )
NET ASSETS 786,025 826,783

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 39,988 39,988
Retained earnings 736,037 776,795
SHAREHOLDERS' FUNDS 786,025 826,783

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

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

HIRELINK UK (MIDLANDS) LIMITED (REGISTERED NUMBER: 06194022)

BALANCE SHEET - continued
31 MARCH 2024


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 16 October 2024 and were signed on its behalf by:





J Leeney - Director


HIRELINK UK (MIDLANDS) LIMITED (REGISTERED NUMBER: 06194022)

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


1. STATUTORY INFORMATION

Hirelink UK (Midlands) 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced hiring and sales of goods, excluding value added tax. There are no long-term hire periods and hence the turnover on the hire of goods is fully recognised at the time of invoicing.

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-15% straight line
Fixtures and fittings-15% on reducing balance
Motor vehicles-20% on reducing balance or 10% straight line

Leasehold property improvements are being depreciated over the lease term, which expires on 16 February 2027.

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

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.

HIRELINK UK (MIDLANDS) LIMITED (REGISTERED NUMBER: 06194022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 2,837,021 17,152 361,547 3,215,720
Additions 514,186 - 72,409 586,595
Disposals (43,725 ) - (26,630 ) (70,355 )
At 31 March 2024 3,307,482 17,152 407,326 3,731,960
DEPRECIATION
At 1 April 2023 1,407,749 13,834 166,272 1,587,855
Charge for year 385,171 498 44,762 430,431
Eliminated on disposal (19,789 ) - (13,631 ) (33,420 )
At 31 March 2024 1,773,131 14,332 197,403 1,984,866
NET BOOK VALUE
At 31 March 2024 1,534,351 2,820 209,923 1,747,094
At 31 March 2023 1,429,272 3,318 195,275 1,627,865

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Valuation in 2015 513,426 - - 513,426
Cost 2,794,056 17,152 407,326 3,218,534
3,307,482 17,152 407,326 3,731,960

HIRELINK UK (MIDLANDS) LIMITED (REGISTERED NUMBER: 06194022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

If plant and machinery had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,095,552 2,095,552
Aggregate depreciation 948,530 948,530

Plant and machinery were valued on an open market basis on 31 March 2015 by MGR Appraisals Ltd, Chartered Surveyors. The directors have reviewed the position at 31 March 2024 and do not consider there to have been a material movement in valuations since, and hence that original valuation is still considered to be valid.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 1,578,845 295,344 1,874,189
Additions 423,846 61,159 485,005
Disposals (43,725 ) (26,630 ) (70,355 )
At 31 March 2024 1,958,966 329,873 2,288,839
DEPRECIATION
At 1 April 2023 461,145 119,279 580,424
Charge for year 181,177 38,857 220,034
Eliminated on disposal (19,789 ) (13,631 ) (33,420 )
At 31 March 2024 622,533 144,505 767,038
NET BOOK VALUE
At 31 March 2024 1,336,433 185,368 1,521,801
At 31 March 2023 1,117,700 176,065 1,293,765

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 277,388 305,649
Other debtors 34,152 37,701
311,540 343,350

HIRELINK UK (MIDLANDS) LIMITED (REGISTERED NUMBER: 06194022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loan 10,000 10,000
Hire purchase contracts (see note 8) 381,174 355,419
Trade creditors 24,836 49,168
Taxation and social security 99,473 86,127
Other creditors 66,265 28,691
581,748 529,405

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 14,167 24,167
Hire purchase contracts (see note 8) 417,706 352,044
431,873 376,211

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 381,174 355,419
Between one and five years 417,706 352,044
798,880 707,463

Non-cancellable operating leases
2024 2023
£    £   
Within one year 52,393 59,393
Between one and five years 29,503 51,896
81,896 111,289

HIRELINK UK (MIDLANDS) LIMITED (REGISTERED NUMBER: 06194022)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 24,167 34,167
Hire purchase contracts 798,880 707,463
823,047 741,630

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
J Leeney
Balance outstanding at start of year 11,389 2,299
Amounts advanced 22,117 25,740
Amounts repaid (17,950 ) (16,650 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,556 11,389