Year Ended
Registration number:
Hoist Hire Holdings Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Hoist Hire Holdings Limited
Balance Sheet
31 May 2024
Note |
2024 |
2023 |
|
Fixed assets |
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Investments |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
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 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
......................................... |
Company Registration Number: 11010369
Hoist Hire Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
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
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
• Short term trade and other creditors;
All financial instruments are classified as basic.
Recognition and measurement
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Hoist Hire Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2024
Investments |
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 June 2023 |
|
At 31 May 2024 |
|
Provision |
|
At 1 June 2023 |
- |
At 31 May 2024 |
- |
Carrying amount |
|
At 31 May 2024 |
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At 31 May 2023 |
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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 |
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Subsidiary undertakings |
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|
Unit 115 South Liberty Lane
England & Wales |
|
|
|
Subsidiary undertakings |
Hoist Hire Services Limited The principal activity of Hoist Hire Services Limited is |
Hoist Hire Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2024
Debtors |
2024 |
2023 |
|
Other debtors |
|
|
|
|
Creditors |
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Amounts owed to group undertakings |
|
|
|
Taxation and social security |
|
- |
|
|
|
Note |
2024 |
2023 |
|
Due after one year |
|||
Loans and borrowings |
|
|
Loans and borrowings |
2024 |
2023 |
|
Loans and borrowings due after one year |
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Redeemable preference shares |
|
|
2024 |
2023 |
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Current loans and borrowings |
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Redeemable preference shares |
|
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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
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 |
|
|
( |
92 |
|
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 |
|
|
( |
92 |
|
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 |
- |
|
- |
44 |
|
Director's 2% loan account, unsecured and repayable on demand |
- |
|
( |
89 |
- |
- |
177,846 |
(160,783) |
133 |
17,196 |
|
Director 2 |
|||||
Director's 2.25% loan account, unsecured and repayable on demand |
- |
|
- |
44 |
|
Director's 2% loan account, unsecured and repayable on demand |
- |
|
( |
89 |
- |
- |
177,846 |
(160,783) |
133 |
17,196 |
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
3,500 |
|
3,500 |
|
|
3,500 |
|
3,500 |
|
|
3,000 |
|
3,000 |
|
|
2,047,000 |
|
2,047,000 |
|
|
|
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