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REGISTERED NUMBER: 05340408 (England and Wales)












HARRISON HIRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






HARRISON HIRE LIMITED (REGISTERED NUMBER: 05340408)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARRISON HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: J R Harrison





REGISTERED OFFICE: Unit F, Giles Lane Industrial Estate
Giles Lane
Landford
Salisbury
Wiltshire
SP5 2BG





REGISTERED NUMBER: 05340408 (England and Wales)

HARRISON HIRE LIMITED (REGISTERED NUMBER: 05340408)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 720,891 576,346

CURRENT ASSETS
Debtors 5 40,892 18,479
Cash at bank 215,449 189,495
256,341 207,974
CREDITORS
Amounts falling due within one year 6 (273,480 ) (203,195 )
NET CURRENT (LIABILITIES)/ASSETS (17,139 ) 4,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

703,752

581,125

CREDITORS
Amounts falling due after more than one
year

7

(193,644

)

(143,372

)

PROVISIONS FOR LIABILITIES (166,637 ) (138,115 )
NET ASSETS 343,471 299,638

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 343,371 299,538
SHAREHOLDERS' FUNDS 343,471 299,638

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

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

The director acknowledges his 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.

HARRISON HIRE LIMITED (REGISTERED NUMBER: 05340408)

BALANCE SHEET - continued
31 JULY 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 director and authorised for issue on 24 January 2025 and were signed by:





J R Harrison - Director


HARRISON HIRE LIMITED (REGISTERED NUMBER: 05340408)

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


1. STATUTORY INFORMATION

Harrison Hire 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 FRS102 "The Financial Reporting Standards 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 FRS102 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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% Reducing balance
Motor vehicles - 25% Reducing balance
Computer equipment - Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

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.


HARRISON HIRE LIMITED (REGISTERED NUMBER: 05340408)

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


2. ACCOUNTING POLICIES - continued
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.

Financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

HARRISON HIRE LIMITED (REGISTERED NUMBER: 05340408)

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


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 August 2023 825,275 48,000 803 874,078
Additions 283,553 71,680 - 355,233
Disposals (77,500 ) (44,000 ) - (121,500 )
At 31 July 2024 1,031,328 75,680 803 1,107,811
DEPRECIATION
At 1 August 2023 278,158 18,896 678 297,732
Charge for year 137,009 19,882 125 157,016
Eliminated on disposal (43,281 ) (24,547 ) - (67,828 )
At 31 July 2024 371,886 14,231 803 386,920
NET BOOK VALUE
At 31 July 2024 659,442 61,449 - 720,891
At 31 July 2023 547,117 29,104 125 576,346

The net book value of tangible fixed assets includes £354,980 (2023: £274,581) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 38,525 16,112
Other debtors 2,367 2,367
40,892 18,479

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 8,519 7,947
Hire purchase contracts (see note 8) 118,104 75,510
Trade creditors 15,230 8,007
Taxation and social security 17,838 14,703
Other creditors 113,789 97,028
273,480 203,195

HARRISON HIRE LIMITED (REGISTERED NUMBER: 05340408)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 10,057 18,562
Hire purchase contracts (see note 8) 183,587 124,810
193,644 143,372

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£ £
Net obligations repayable:
Within one year 118,104 75,510
Between one and five years 183,587 124,810
301,691 200,320

At the balance sheet date the company had future commitments under operating leases which totalled £14,797 (2023: £34,272).

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 301,691 200,320

Hire purchase balances are secured on the assets to which they relate.