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Hoist Hire Holdings Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 May 2024

Registration number: 11010369

 

Hoist Hire Holdings Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Hoist Hire Holdings Limited

Balance Sheet

31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

4,046,000

4,046,000

Current assets

 

Debtors

5

12,471

34,392

Creditors: Amounts falling due within one year

6

(624,731)

(646,801)

Net current liabilities

 

(612,260)

(612,409)

Total assets less current liabilities

 

3,433,740

3,433,591

Creditors: Amounts falling due after more than one year

6

(1,347,000)

(1,747,000)

Net assets

 

2,086,740

1,686,591

Capital and reserves

 

Called up share capital

9

10,000

10,000

Capital redemption reserve

2,050,000

1,650,000

Profit and loss account

26,740

26,591

Shareholders' funds

 

2,086,740

1,686,591

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 November 2024 and signed on its behalf by:
 

.........................................
Mrs K Williamson
Director

   
     

Company Registration Number: 11010369

 

Hoist Hire Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 115 South Liberty Lane
Ashton Vale Trading Estate
Bristol
BS3 2SZ
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 section 1A, and the Companies Act 2006. There are no material departures from FRS102.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Hoist Hire Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other creditors;

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Hoist Hire Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

4

Investments

2024
£

2023
£

Investments in subsidiaries

4,046,000

4,046,000

Subsidiaries

£

Cost or valuation

At 1 June 2023

4,046,000

At 31 May 2024

4,046,000

Provision

At 1 June 2023

-

At 31 May 2024

-

Carrying amount

At 31 May 2024

4,046,000

At 31 May 2023

4,046,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Hoist Hire Services Limited

Unit 115 South Liberty Lane
Ashton Vale Trading Estate
Bristol
BS3 2SZ

England & Wales

Ordinary

100%

100%

Subsidiary undertakings

Hoist Hire Services Limited

The principal activity of Hoist Hire Services Limited is the sale and hire of plant and equipment to the building trade.

 

Hoist Hire Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

5

Debtors

2024
£

2023
£

Other debtors

12,471

34,392

12,471

34,392

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

300,000

300,000

Amounts owed to group undertakings

8

324,696

346,801

Taxation and social security

 

35

-

 

624,731

646,801


 

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

1,347,000

1,747,000

7

Loans and borrowings

2024
£

2023
£

Loans and borrowings due after one year

Redeemable preference shares

1,347,000

1,747,000

2024
£

2023
£

Current loans and borrowings

Redeemable preference shares

300,000

300,000

Redeemable preference shares

The Preference shares are redeemable based on the financial performance of the Company. They are redeemable at £1 per share and carry no voting rights. The winding up value is £1 per share.

 

Hoist Hire Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

8

Related party transactions

The company has taken advantage of the exemption in FRS 102 "Related Party Disclosures" from disclosing transactions with wholly owned members of the group.

Transactions with directors

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

Interest charged
£

At 31 May 2024
£

Director 1

Director's 2.25% loan account, unsecured and repayable on demand

17,196

122,747

(133,800)

92

6,235

Director's 2% loan account, unsecured and repayable on demand

-

-

-

-

-

 

17,196

122,747

(133,800)

92

6,235

         

Director 2

Director's 2.25% loan account, unsecured and repayable on demand

17,196

122,747

(133,800)

92

6,235

Director's 2% loan account, unsecured and repayable on demand

-

-

-

-

-

 

17,196

122,747

(133,800)

92

6,235

         

 

 

Hoist Hire Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2024

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

Interest charged
£

At 31 May 2023
£

Director 1

Director's 2.25% loan account, unsecured and repayable on demand

-

17,152

-

44

17,196

Director's 2% loan account, unsecured and repayable on demand

-

160,694

(160,783)

89

-

 

-

177,846

(160,783)

133

17,196

         

Director 2

Director's 2.25% loan account, unsecured and repayable on demand

-

17,152

-

44

17,196

Director's 2% loan account, unsecured and repayable on demand

-

160,694

(160,783)

89

-

 

-

177,846

(160,783)

133

17,196

         

 

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £1 each

3,500

3,500

3,500

3,500

Ordinary B shares of £1 each

3,500

3,500

3,500

3,500

Ordinary C shares of £1 each

3,000

3,000

3,000

3,000

Preference shares of £1 each

2,047,000

2,047,000

2,047,000

2,047,000

 

2,057,000

2,057,000

2,057,000

2,057,000