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Registered number: 11849319
HLS Hire and Logistics Limited
Financial Statements
For the Period 1 March 2023 to 31 March 2024
Kennedy Johnson
83 Carlton Drive
Wigston
LE18 1DG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11849319
31 March 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 383,860 195,257
383,860 195,257
CURRENT ASSETS
Debtors 5 156,440 87,322
Cash at bank and in hand 456 13,633
156,896 100,955
Creditors: Amounts Falling Due Within One Year 6 (308,838 ) (90,305 )
NET CURRENT ASSETS (LIABILITIES) (151,942 ) 10,650
TOTAL ASSETS LESS CURRENT LIABILITIES 231,918 205,907
Creditors: Amounts Falling Due After More Than One Year 7 (222,654 ) (127,543 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (4,836 )
NET ASSETS 9,264 73,528
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 9,262 73,526
SHAREHOLDERS' FUNDS 9,264 73,528
Page 1
Page 2
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Chloe Hadfield
Director
02/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HLS Hire and Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11849319 . The registered office is Bishop & Bishop, Leicester Road, Wigston, Leicestershire, LE18 1NT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% per annum. on cost
Motor Vehicles 25% per annum. on cost
Fixtures & Fittings 25% per annum. on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the period was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 106,917 167,995 13,305 288,217
Additions 65,888 259,940 - 325,828
Disposals (27,300 ) (89,000 ) - (116,300 )
As at 31 March 2024 145,505 338,935 13,305 497,745
Depreciation
As at 1 March 2023 30,536 58,541 3,883 92,960
Provided during the period 15,443 18,993 2,128 36,564
Disposals (11,660 ) (3,979 ) - (15,639 )
As at 31 March 2024 34,319 73,555 6,011 113,885
Net Book Value
As at 31 March 2024 111,186 265,380 7,294 383,860
As at 1 March 2023 76,381 109,454 9,422 195,257
5. Debtors
31 March 2024 28 February 2023
£ £
Due within one year
Trade debtors 22,955 35,355
Prepayments and accrued income 93,745 7,727
Amounts owed by associated company 39,740 44,240
156,440 87,322
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 28 February 2023
£ £
Net obligations under finance lease and hire purchase contracts 38,175 28,537
Trade creditors 261,533 45,653
Other taxes and social security 3,141 4,325
VAT 69 9,260
Net wages 3,560 733
Pension contributions payable - 217
Accruals 2,360 1,580
308,838 90,305
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7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 28 February 2023
£ £
Net obligations under finance lease and hire purchase contracts 124,537 41,653
Directors loan account 49,830 47,773
Amounts owed to related parties 48,287 38,117
222,654 127,543
8. Obligations Under Finance Leases and Hire Purchase
31 March 2024 28 February 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 38,175 28,537
Later than one year and not later than five years 124,537 41,653
162,712 70,190
162,712 70,190
9. Share Capital
31 March 2024 28 February 2023
£ £
Allotted, Called up and fully paid 2 2
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