Company registration number 13791469 (England and Wales)
CATFOSS HIRE HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
CATFOSS HIRE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
CATFOSS HIRE HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
30 June 2023
28 February 2022
Notes
£
£
£
£
Fixed assets
Investments
4
738,708
1,191,102
Current assets
Debtors
6
100
87,706
Creditors: amounts falling due within one year
7
(1,104,883)
(1,336,012)
Net current liabilities
(1,104,783)
(1,248,306)
Net liabilities
(366,075)
(57,204)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(366,175)
(57,304)
Total equity
(366,075)
(57,204)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 21 November 2024
B. A. Foreman
Director
Company registration number 13791469 (England and Wales)
CATFOSS HIRE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Catfoss Hire Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Medforth House, Catfoss Lane, Brandesburton, Driffield, East Yorkshire, YO25 8ES.

1.1
Reporting period

The financial statements are presented for the sixteen month period to 30 June 2023. The change in period end has been made to align the year end with the parent company. The comparative period is for the three months to 28 February 2022 and therefore the comparative amounts are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The financial statements have been prepared on a going concern basis. At 30 June 2023 the company had net liabilities of £366,075 (2022: net liabilities £57,204). If the company's investments in subsidiaries was at valuation instead of cost the company's balance sheet would be solvent. The company is reliant on the continued support of the group. The director of the parent company has confirmed that the group will continue to support the company.true

 

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

Financial assets and liabilities are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

CATFOSS HIRE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
Financial assets

Financial assets are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.

 

Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

 

Financial assets, other than those held at fair value through the profit and loss account, are assessed for indicators of impairment at each reporting end date. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the profit and loss account. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the profit and loss account.

Financial liabilities and equity

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Financial liabilities that are not classified as financial instruments are recorded at transaction cost. All changes to transaction cost are recognised in the profit and loss account.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

CATFOSS HIRE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.9

Related party transactions

Advantage has been taken under FRS 102 section 33.1A of the exemption available to groups of companies not to disclose transactions and balances with wholly owned subsidiaries within the group

1.10

Group accounts

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

 

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
1
1
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
738,708
1,191,102
CATFOSS HIRE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
4
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 March 2022
1,191,102
Additions
128,000
Disposals
(580,394)
At 30 June 2023
738,708
Carrying amount
At 30 June 2023
738,708
At 28 February 2022
1,191,102

During the year the company sold its investment in Catfoss Hire Limited.

5
Subsidiaries

Details of the company's subsidiaries at 30 June 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Catfoss Modular Hire Limited
England
Hire
Ordinary
100.00
Catfoss Cabin Hire Limited
England
Hire
Ordinary
100.00
The aggregate capital and reserves and the result for the period of the subsidiaries noted above was as follows:
Name of undertaking
Capital and reserves
Profit/(loss)
£
£
Catfoss Modular Hire Limited
2,001,257
(222,908)
Catfoss Cabin Hire Limited
2,934,541
728,610
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
-
0
87,606
Other debtors
100
100
100
87,706
CATFOSS HIRE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
60
-
0
Amounts owed to group undertakings
1,081,342
-
0
Other loans
23,481
1,336,012
1,104,883
1,336,012

Included in creditors are amounts falling due within one year are secured creditors of nil (2022: £1,336,012).

8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Douglas Baker FCCA
Statutory Auditor:
Dutton Moore
Date of audit report:
21 November 2024
10
Parent company

During the year there was a group reorganisation and on 22 December 2022 Catfoss Enterprises Limited became the new holding company.

 

The ultimate parent company and the parent company of the largest and smallest group to include the company and its immediate parent company in its consolidated financial statements is Catfoss Enterprises Limited, a company incorporated in England and Wales and whose registered office is Medforth House, Catfoss Lane, Brandesburton, Driffield, East Yorkshire, YO25 8ES.

 

The company is a wholly owned subsidiary of Catfoss Enterprises Limited. The company is ultimately controlled by B. A. Foreman.

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