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REGISTERED NUMBER: 08936198 (England and Wales)















HIRE AND SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






HIRE AND SUPPLIES LIMITED (REGISTERED NUMBER: 08936198)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIRE AND SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: B S Anderson
D J Chandler





REGISTERED OFFICE: 1st Floor Offices
2 Whitebridge Lane
Stone
Staffordshire
ST15 8LQ





REGISTERED NUMBER: 08936198 (England and Wales)

HIRE AND SUPPLIES LIMITED (REGISTERED NUMBER: 08936198)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 9,043,654 8,446,334

CURRENT ASSETS
Stocks 415,450 502,573
Debtors 5 1,103,628 885,542
Cash at bank and in hand 102,929 62,510
1,622,007 1,450,625
CREDITORS
Amounts falling due within one year 6 (3,476,563 ) (2,358,013 )
NET CURRENT LIABILITIES (1,854,556 ) (907,388 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,189,098 7,538,946

CREDITORS
Amounts falling due after more than one
year

7

(2,982,979

)

(3,414,762

)

PROVISIONS FOR LIABILITIES (381,761 ) (434,678 )
NET ASSETS 3,824,358 3,689,506

CAPITAL AND RESERVES
Called up share capital 9 263 263
Share premium 1,388,813 1,388,813
Revaluation reserve 10 132,613 150,213
Capital redemption reserve 30 30
Retained earnings 2,302,639 2,150,187
SHAREHOLDERS' FUNDS 3,824,358 3,689,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HIRE AND SUPPLIES LIMITED (REGISTERED NUMBER: 08936198)

BALANCE SHEET - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





D J Chandler - Director


HIRE AND SUPPLIES LIMITED (REGISTERED NUMBER: 08936198)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Hire And Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale or hire of equipment is recognised when significant risks and rewards of ownership of the goods 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 in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


HIRE AND SUPPLIES LIMITED (REGISTERED NUMBER: 08936198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 37 ) .

HIRE AND SUPPLIES LIMITED (REGISTERED NUMBER: 08936198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 50,000 9,177,354 39,420 460,894 9,727,668
Additions - 1,952,893 - 20,500 1,973,393
Disposals - (577,417 ) - - (577,417 )
At 31 March 2024 50,000 10,552,830 39,420 481,394 11,123,644
DEPRECIATION
At 1 April 2023 - 1,221,606 29,545 30,183 1,281,334
Charge for year - 779,892 3,648 95,937 879,477
Eliminated on disposal - (80,821 ) - - (80,821 )
At 31 March 2024 - 1,920,677 33,193 126,120 2,079,990
NET BOOK VALUE
At 31 March 2024 50,000 8,632,153 6,227 355,274 9,043,654
At 31 March 2023 50,000 7,955,748 9,875 430,711 8,446,334

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2015 - 294,424 - - 294,424
Valuation in 2016 - 29,895 - - 29,895
Valuation in 2017 - (88,829 ) - - (88,829 )
Valuation in 2018 - (32,543 ) - - (32,543 )
Valuation in 2019 - (34,992 ) - - (34,992 )
Valuation in 2020 - (22,000 ) - - (22,000 )
Valuation in 2021 50,000 (20,106 ) - - 29,894
Valuation in 2022 - (38,000 ) - - (38,000 )
Valuation in 2023 - 12,364 - - 12,364
Valuation in 2024 - (17,600 ) - - (17,600 )
Cost - 10,470,217 39,420 481,394 10,991,031
50,000 10,552,830 39,420 481,394 11,123,644

HIRE AND SUPPLIES LIMITED (REGISTERED NUMBER: 08936198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 954,257 792,762
Other debtors 5,917 5,000
Prepayments 143,454 87,780
1,103,628 885,542

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 299,282 -
Other loans (see note 8) 775,494 212,179
Hire purchase contracts 1,622,689 1,570,275
Trade creditors 499,059 433,444
Social security and other taxes 26,929 25,256
VAT 134,928 -
Other creditors 4,054 3,873
Directors' current accounts 41,524 -
Accruals and deferred income 72,604 112,986
3,476,563 2,358,013

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans (see note 8) 140,782 368,373
Hire purchase contracts 2,842,197 3,046,389
2,982,979 3,414,762

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 299,282 -
Other loans 775,494 212,179
1,074,776 212,179

Amounts falling due between one and two years:
Other loans - 1-2 years 140,782 368,373

HIRE AND SUPPLIES LIMITED (REGISTERED NUMBER: 08936198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
26,250 Ordinary 0.01 263 263

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 150,213
Asset disposal (17,600 )

At 31 March 2024 132,613