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REGISTERED NUMBER: 03322262 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

WHC HIRE SERVICES LIMITED

WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WHC HIRE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: J H Clutterbuck
Mrs L J Roberts
J Clutterbuck





SECRETARY: Mrs H Clutterbuck





REGISTERED OFFICE: Chargrove House
Shurdington Road
Shurdington
Cheltenham
Gloucestershire
GL51 4GA





REGISTERED NUMBER: 03322262 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 362,391 444,901
Tangible assets 5 11,194,200 10,074,094
Investments 6 569,975 569,975
12,126,566 11,088,970

CURRENT ASSETS
Stocks 122,949 101,699
Debtors 7 1,995,583 1,996,749
Cash at bank and in hand 103,964 72,477
2,222,496 2,170,925
CREDITORS
Amounts falling due within one year 8 3,898,822 4,410,609
NET CURRENT LIABILITIES (1,676,326 ) (2,239,684 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,450,240

8,849,286

CREDITORS
Amounts falling due after more than one
year

9

(6,634,533

)

(5,171,614

)

PROVISIONS FOR LIABILITIES (787,821 ) (787,821 )
NET ASSETS 3,027,886 2,889,851

CAPITAL AND RESERVES
Called up share capital 504 504
Retained earnings 3,027,382 2,889,347
SHAREHOLDERS' FUNDS 3,027,886 2,889,851

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262)

BALANCE SHEET - continued
30 APRIL 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by:




Mrs L J Roberts - Director J Clutterbuck - Director




J H Clutterbuck - Director


WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

WHC Hire Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about WHC Hire Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. Revenue is recognised with a deposit on hire and then balance on completion of hire, on completion of test and on delivery of goods.

The total turnover of the company for the year has been derived from its principle activity wholly undertaken in the UK.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance and 12.5% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost and 12.5% on reducing balance

The directors have taken the decision to adjust the depreciation percentage for both motor and plant to 12.5% on a reducing balance method to reflect the higher retained values in the second hand market.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. However, the current capital allowance and tax regime and ongoing capital expenditure means that the Directors consider it to be highly unlikely that the accelerated capital allowances will reverse in the foreseeable future. Accordingly, the Directors believe it is not appropriate to increase the deferred tax provision beyond its current level. The amount of the provision will be reviewed each year in the light of ongoing capital expenditure and any changes to the tax regime.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The director have considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability of the company to continue as a going concern have been identified by the director.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 42 ) .

WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 May 2023 1,324,717 5,185 1,329,902
Additions - 34,559 34,559
At 30 April 2024 1,324,717 39,744 1,364,461
AMORTISATION
At 1 May 2023 881,713 3,288 885,001
Charge for year 110,751 6,318 117,069
At 30 April 2024 992,464 9,606 1,002,070
NET BOOK VALUE
At 30 April 2024 332,253 30,138 362,391
At 30 April 2023 443,004 1,897 444,901

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 13,428,304 112,124 711,055 14,251,483
Additions 3,055,790 5,734 1,022,418 4,083,942
Disposals (3,485,021 ) - (145,392 ) (3,630,413 )
At 30 April 2024 12,999,073 117,858 1,588,081 14,705,012
DEPRECIATION
At 1 May 2023 3,839,475 100,896 237,018 4,177,389
Charge for year 1,188,081 4,820 77,158 1,270,059
Eliminated on disposal (1,821,521 ) - (115,115 ) (1,936,636 )
At 30 April 2024 3,206,035 105,716 199,061 3,510,812
NET BOOK VALUE
At 30 April 2024 9,793,038 12,142 1,389,020 11,194,200
At 30 April 2023 9,588,829 11,228 474,037 10,074,094


WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 May 2023
and 30 April 2024 569,975
NET BOOK VALUE
At 30 April 2024 569,975
At 30 April 2023 569,975

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,133,560 1,132,259
Other debtors 354,021 303,358
Intercompany 351,183 403,896
Directors' loan accounts 101,619 100,000
Prepayments 55,200 57,236
1,995,583 1,996,749

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 259,542 128,011
Other loans 113,612 116,686
Hire purchase contracts 2,319,580 3,103,808
Trade creditors 238,665 349,785
Corporation Tax 12,957 40,058
Social security and other taxes 42,198 31,025
VAT 210,254 84,593
Wages and salaries control 15,169 13,169
Factored debt 634,686 517,123
Pension Control 17,533 11,059
Directors' loan accounts 19,334 -
Accrued expenses 15,292 15,292
3,898,822 4,410,609

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-5 years 285,673 295,729
Other loans - 2-5 years 94,589 141,683
Hire purchase contracts 6,254,271 4,734,202
6,634,533 5,171,614

WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 545,215 423,740
Hire purchase contracts 8,573,851 7,838,010
9,119,066 8,261,750

The Bank Loans and mortgage in parent company are secured against the properties Alexandra Way in Tewkesbury, Bath Road in Worcester and Land at the back of Bath Road Worcester and other assets of the company. Containing fixed and floating charges and negative pledge.

The Hire Purchase is secured against the equipment to which it relates, containing fixed and floating charges. The floating charge covers all the property or undertaking of the company.

The company also has a Debenture with Hitachi Capital (UK) PLC which also covers all property or undertaking of the company. The charge contains both fixed and floating charges as well as a negative pledge.

There was a new charged registered on 3 January 2023 on Companies House for Lombard North Central PLC which contains a fixed charge and negative pledge.

There was also a charge registered on Companies House after the date of these accounts but before the date of signing for Carrick Asset Finance Limited which contains a fixed charge and negative pledge.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
J H Clutterbuck
Balance outstanding at start of year 100,000 -
Amounts advanced 126,344 197,667
Amounts repaid (124,725 ) (97,667 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 101,619 100,000

J Clutterbuck
Balance outstanding at start of year - -
Amounts advanced 33,000 19,687
Amounts repaid (33,000 ) (19,687 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs L J Roberts
Balance outstanding at start of year - -
Amounts advanced 66,074 -
Amounts repaid (85,408 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (19,334 ) -

Interest is being charged on the above balances at the HMRC approved rate, and there are no set repayment terms.

12. RELATED PARTY DISCLOSURES

WHC Hire Services Holdings Limited - Parent company

The company has a balance owed to it by the parent company of £204,993 (2023: £411,066l) in relation to purchase of a property.

Cotswold Tool and Plant Hire Limited - subsidiary

The company has balance included in other debtors of £146,190 (2023: £144,712)