1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09858863 2023-03-01 2024-02-29 09858863 2024-02-29 09858863 2023-02-28 09858863 2022-03-01 2023-02-28 09858863 2023-02-28 09858863 2022-02-28 09858863 core:PlantMachinery 2023-03-01 2024-02-29 09858863 bus:Director1 2023-03-01 2024-02-29 09858863 core:PlantMachinery 2023-02-28 09858863 core:PlantMachinery 2024-02-29 09858863 core:WithinOneYear 2024-02-29 09858863 core:WithinOneYear 2023-02-28 09858863 core:ShareCapital 2024-02-29 09858863 core:ShareCapital 2023-02-28 09858863 core:RetainedEarningsAccumulatedLosses 2024-02-29 09858863 core:RetainedEarningsAccumulatedLosses 2023-02-28 09858863 core:PlantMachinery 2023-02-28 09858863 bus:SmallEntities 2023-03-01 2024-02-29 09858863 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09858863 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09858863 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09858863 bus:FullAccounts 2023-03-01 2024-02-29 09858863 core:OfficeEquipment 2023-03-01 2024-02-29 09858863 core:OfficeEquipment 2023-02-28 09858863 core:OfficeEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: 09858863
H2O Hire Ltd
Filleted Unaudited Financial Statements
29 February 2024
H2O Hire Ltd
Balance Sheet
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
4,948
Current assets
Debtors
6
138,967
136,933
Cash at bank and in hand
991
4,853
---------
---------
139,958
141,786
Creditors: amounts falling due within one year
7
465,411
466,252
---------
---------
Net current liabilities
325,453
324,466
---------
---------
Total assets less current liabilities
( 325,453)
( 319,518)
---------
---------
Net liabilities
( 325,453)
( 319,518)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 325,454)
( 319,519)
---------
---------
Shareholders deficit
( 325,453)
( 319,518)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income (including profit and loss account) has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
H2O Hire Ltd
Balance Sheet (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 7 November 2024 , and are signed on behalf of the board by:
Ms D C Sellars
Director
Company registration number: 09858863
H2O Hire Ltd
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Warford Crescent, Alderley Edge, Cheshire, SK9 7TW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company made a loss for the year and has cumulative net losses and a net deficit. The director confirms that her loan will remain in place as required by the company and the accounts have been prepared on the going concern basis
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no material judgements, estimates or assumptions.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 March 2023
210,033
3,466
213,499
Disposals
( 78,641)
( 78,641)
---------
-------
---------
At 29 February 2024
131,392
3,466
134,858
---------
-------
---------
Depreciation
At 1 March 2023
205,085
3,466
208,551
Charge for the year
388
388
Disposals
( 74,081)
( 74,081)
---------
-------
---------
At 29 February 2024
131,392
3,466
134,858
---------
-------
---------
Carrying amount
At 29 February 2024
---------
-------
---------
At 28 February 2023
4,948
4,948
---------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
138,967
136,933
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
769
Social security and other taxes
23,286
39,603
Other creditors
441,356
426,649
---------
---------
465,411
466,252
---------
---------
8. Director's advances, credits and guarantees
During the year Ms Sellars advanced a further £15,747 in respect of her loan to the company so that as at 28 February 2024 £440,309 (2023 £424,562). There are no formal terms in respect of the loan, but it will remain in place as required by the company.