Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.82023-06-01falseNo description of principal activity8truetruefalse 07260375 2023-06-01 2024-05-31 07260375 2022-06-01 2023-05-31 07260375 2024-05-31 07260375 2023-05-31 07260375 c:Director1 2023-06-01 2024-05-31 07260375 c:Director2 2023-06-01 2024-05-31 07260375 c:RegisteredOffice 2023-06-01 2024-05-31 07260375 d:PlantMachinery 2023-06-01 2024-05-31 07260375 d:PlantMachinery 2024-05-31 07260375 d:PlantMachinery 2023-05-31 07260375 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07260375 d:MotorVehicles 2023-06-01 2024-05-31 07260375 d:MotorVehicles 2024-05-31 07260375 d:MotorVehicles 2023-05-31 07260375 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07260375 d:FurnitureFittings 2023-06-01 2024-05-31 07260375 d:FurnitureFittings 2024-05-31 07260375 d:FurnitureFittings 2023-05-31 07260375 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07260375 d:OfficeEquipment 2023-06-01 2024-05-31 07260375 d:OfficeEquipment 2024-05-31 07260375 d:OfficeEquipment 2023-05-31 07260375 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07260375 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07260375 d:CurrentFinancialInstruments 2024-05-31 07260375 d:CurrentFinancialInstruments 2023-05-31 07260375 d:Non-currentFinancialInstruments 2024-05-31 07260375 d:Non-currentFinancialInstruments 2023-05-31 07260375 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 07260375 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07260375 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 07260375 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 07260375 d:ShareCapital 2024-05-31 07260375 d:ShareCapital 2023-05-31 07260375 d:RetainedEarningsAccumulatedLosses 2024-05-31 07260375 d:RetainedEarningsAccumulatedLosses 2023-05-31 07260375 c:OrdinaryShareClass1 2023-06-01 2024-05-31 07260375 c:OrdinaryShareClass1 2024-05-31 07260375 c:OrdinaryShareClass1 2023-05-31 07260375 c:FRS102 2023-06-01 2024-05-31 07260375 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07260375 c:AbridgedAccounts 2023-06-01 2024-05-31 07260375 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07260375 d:WithinOneYear 2024-05-31 07260375 d:WithinOneYear 2023-05-31 07260375 d:BetweenOneFiveYears 2024-05-31 07260375 d:BetweenOneFiveYears 2023-05-31 07260375 d:HirePurchaseContracts d:WithinOneYear 2024-05-31 07260375 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 07260375 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-05-31 07260375 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 07260375 2 2023-06-01 2024-05-31 07260375 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07260375










SHEFFIELD VAN HIRE LIMITED

Unaudited
Financial statements
Information for filing with the registrar
For the year ended 31 May 2024

 
SHEFFIELD VAN HIRE LIMITED
 

Company Information


Directors
Nathan Slater 
Clare Slater 




Registered number
07260375



Registered office
SVH House
Dannemora Drive

Sheffield

England

S9 5DF





 
SHEFFIELD VAN HIRE LIMITED
Registered number: 07260375

Balance sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
914,060
760,355

  
914,060
760,355

Current assets
  

Debtors
 5 
182,449
116,504

Cash at bank and in hand
  
28,705
20,613

  
211,154
137,117

Creditors: amounts falling due within one year
 6 
(193,664)
(145,992)

Net current assets/(liabilities)
  
 
 
17,490
 
 
(8,875)

Total assets less current liabilities
  
931,550
751,480

Creditors: amounts falling due after more than one year
 7 
(102,310)
(158,585)

Provisions for liabilities
  
(228,516)
(190,089)

Net assets
  
600,724
402,806


Capital and reserves
  

Called up share capital 
  
6
6

Profit and loss account
  
600,718
402,800

  
600,724
402,806


The directors consider 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 directors acknowledge their 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 statement of income and retained earnings 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 11 October 2024.



Nathan Slater
Clare Slater
Director
Director

Page 1

 
SHEFFIELD VAN HIRE LIMITED
Registered number: 07260375

Balance sheet (continued)
As at 31 May 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SHEFFIELD VAN HIRE LIMITED
 

 
Notes to the financial statements
For the year ended 31 May 2024

1.


General information

Sheffield Van Hire Limited is a private company limited by shares incorporated in England within the United Kingdom.  The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. 
Hire sales
Turnover from the hire of vehicles is recognised by reference to the stage of hire at the balance sheet date.  
Vehicle sales
Turnover from the sale of vehicles is recognised when significant risks and rewards of ownership of the vehicle have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.  This is usually on the collection of the vehicle.

 
2.3

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

Page 3

 
SHEFFIELD VAN HIRE LIMITED
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.7

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, 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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 Balance sheet 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 balance sheet date.

 
2.9

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 less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and machinery
-
20% straight line
Motor vehicles
-
20% reducing balance
Fixtures and fittings
-
20% straight line
Office equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SHEFFIELD VAN HIRE LIMITED
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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 at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 -8).

Page 5

 
SHEFFIELD VAN HIRE LIMITED
 

 
Notes to the financial statements
For the year ended 31 May 2024

4.


Tangible fixed assets





Plant and equipment
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
21,353
1,227,851
12,965
12,096
1,274,265


Additions
-
431,636
-
308
431,944


Disposals
(6,228)
(223,828)
-
-
(230,056)



At 31 May 2024

15,125
1,435,659
12,965
12,404
1,476,153



Depreciation


At 1 June 2023
12,554
488,794
6,736
5,826
513,910


Charge for the year on owned assets
2,836
178,656
1,693
1,820
185,005


Disposals
(6,228)
(130,595)
-
-
(136,823)



At 31 May 2024

9,162
536,855
8,429
7,646
562,092



Net book value



At 31 May 2024
5,963
898,804
4,536
4,758
914,061



At 31 May 2023
8,799
739,057
6,229
6,270
760,355


5.


Debtors

2024
2023
£
£


Trade debtors
171,116
99,999

Amounts owed by group undertakings
-
8,000

Other debtors
800
-

Prepayments and accrued income
10,533
8,505

182,449
116,504


Page 6

 
SHEFFIELD VAN HIRE LIMITED
 

 
Notes to the financial statements
For the year ended 31 May 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
49,000
49,000

Trade creditors
22,604
23,561

Taxation and social security
102,014
55,434

Obligations under finance lease and hire purchase contracts
7,274
6,871

Other creditors
-
850

Accruals and deferred income
12,772
10,276

193,664
145,992



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
53,083
102,083

Net obligations under finance leases and hire purchase contracts
49,227
56,501

102,310
158,584


The following liabilities were secured:

2024
2023
£
£



Bank loans
102,083
151,083

Net obligations under finance leases and hire purchase contracts
56,501
63,282

158,584
214,365

Details of security provided:

The bank loan is secured by a fixed and floating charge over the assets of the company.
The finance lease and hire purchase contracts are secured on the assets financed.

Page 7

 
SHEFFIELD VAN HIRE LIMITED
 

 
Notes to the financial statements
For the year ended 31 May 2024

8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
7,274
6,871

Between 1-5 years
49,227
56,501

56,501
63,372

The hire purchase creditor is secured on the assets financed.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



6 (2023 -6) Ordinary shares of £1.00 each
6
6



10.


Commitments under operating leases

At 31 May 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
24,000
24,000

Later than 1 year and not later than 5 years
46,000
70,000

70,000
94,000


11.


Controlling party

The company is a wholly owned subsidiary of Slaters Holding Group Limited.


Page 8