Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-312023-11-011falseRenting and leasing of media entertainment equipment.1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12284707 2023-11-01 2024-10-31 12284707 2022-11-01 2023-10-31 12284707 2024-10-31 12284707 2023-10-31 12284707 c:Director1 2023-11-01 2024-10-31 12284707 d:PlantMachinery 2023-11-01 2024-10-31 12284707 d:PlantMachinery 2024-10-31 12284707 d:PlantMachinery 2023-10-31 12284707 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12284707 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 12284707 d:FurnitureFittings 2023-11-01 2024-10-31 12284707 d:FurnitureFittings 2024-10-31 12284707 d:FurnitureFittings 2023-10-31 12284707 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12284707 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 12284707 d:ComputerEquipment 2023-11-01 2024-10-31 12284707 d:ComputerEquipment 2024-10-31 12284707 d:ComputerEquipment 2023-10-31 12284707 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12284707 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 12284707 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 12284707 d:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 12284707 d:CurrentFinancialInstruments 2024-10-31 12284707 d:CurrentFinancialInstruments 2023-10-31 12284707 d:Non-currentFinancialInstruments 2024-10-31 12284707 d:Non-currentFinancialInstruments 2023-10-31 12284707 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 12284707 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12284707 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 12284707 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 12284707 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-10-31 12284707 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 12284707 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-10-31 12284707 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 12284707 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-10-31 12284707 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 12284707 d:ShareCapital 2024-10-31 12284707 d:ShareCapital 2023-10-31 12284707 d:RetainedEarningsAccumulatedLosses 2024-10-31 12284707 d:RetainedEarningsAccumulatedLosses 2023-10-31 12284707 c:FRS102 2023-11-01 2024-10-31 12284707 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 12284707 c:FullAccounts 2023-11-01 2024-10-31 12284707 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 12284707 2 2023-11-01 2024-10-31 12284707 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 12284707










HS-HIRE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
HS-HIRE LIMITED
REGISTERED NUMBER: 12284707

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
798,124
492,289

  
798,124
492,289

Current assets
  

Debtors
 4 
169,225
144,169

Cash at bank and in hand
  
9,809
60

  
179,034
144,229

Creditors: amounts falling due within one year
 5 
(996,712)
(776,359)

Net current liabilities
  
 
 
(817,678)
 
 
(632,130)

Total assets less current liabilities
  
(19,554)
(139,841)

Creditors: amounts falling due after more than one year
 6 
(126,142)
(30,191)

  

Net liabilities
  
(145,696)
(170,032)


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
(145,706)
(170,042)

  
(145,696)
(170,032)


Page 1

 
HS-HIRE LIMITED
REGISTERED NUMBER: 12284707
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

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 by: 




H Richardson
Director

Date: 22 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HS-HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

HS-Hire Limited is private company limited by shares and incorporated in England and Wales. The
registered office address is Unit 4, Deanland Road, Golden Cross, Hailsham, East Sussex, BN27 3RP.
The company's registered number is 12284707.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis based on the continued support of the company's creditors and financiers which, in the opinion of the directors, the company has for the foreseeable future

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

Page 3

 
HS-HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

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.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 income 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.


Page 4

 
HS-HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.10

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10% Straight line
Fixtures and fittings
-
20% Straight line
Computer 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.12

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.

 
2.13

Creditors

Short-term creditors are measured at the transaction price.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Page 5

 
HS-HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 6

 
HS-HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2023
639,332
12,724
11,485
663,541


Additions
392,979
7,086
2,610
402,675


Disposals
(15,372)
-
-
(15,372)



At 31 October 2024

1,016,939
19,810
14,095
1,050,844



Depreciation


At 1 November 2023
162,241
5,360
3,651
171,252


Charge for the year on owned assets
68,132
3,111
2,645
73,888


Charge for the year on financed assets
11,890
-
-
11,890


Disposals
(4,310)
-
-
(4,310)



At 31 October 2024

237,953
8,471
6,296
252,720



Net book value



At 31 October 2024
778,986
11,339
7,799
798,124



At 31 October 2023
477,091
7,364
7,834
492,289


4.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
7,650
7,650

7,650
7,650

Due within one year

Trade debtors
108,912
70,634

Prepayments and accrued income
6,058
6,550

Deferred taxation
46,605
59,335

169,225
144,169


Page 7

 
HS-HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
19
-

Bank loans
5,252
5,696

Trade creditors
255,229
139,856

Other taxation and social security
25,322
7,307

Obligations under finance lease and hire purchase contracts
55,885
-

Other creditors
649,814
620,000

Accruals and deferred income
5,191
3,500

996,712
776,359



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
25,092
30,191

Net obligations under finance leases and hire purchase contracts
101,050
-



7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,252
5,696

Amounts falling due 1-2 years

Bank loans
5,764
5,732

Amounts falling due 2-5 years

Bank loans
17,506
17,410

Amounts falling due after more than 5 years

Bank loans
1,822
7,049

30,344
35,887


Page 8

 
HS-HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Related party transactions

Included in other creditors is a loan to the value of £649,389 (2023: £618,372) owed to the directors. This amount is interest free and repayable on demand.

 
Page 9