Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity34falsetrue 09471890 2023-01-01 2023-12-31 09471890 2022-01-01 2022-12-31 09471890 2023-12-31 09471890 2022-12-31 09471890 1 2023-01-01 2023-12-31 09471890 d:Director2 2023-01-01 2023-12-31 09471890 c:ComputerEquipment 2023-01-01 2023-12-31 09471890 c:ComputerEquipment 2023-12-31 09471890 c:ComputerEquipment 2022-12-31 09471890 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09471890 c:CurrentFinancialInstruments 2023-12-31 09471890 c:CurrentFinancialInstruments 2022-12-31 09471890 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 09471890 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 09471890 c:ShareCapital 2023-12-31 09471890 c:ShareCapital 2022-12-31 09471890 c:RetainedEarningsAccumulatedLosses 2023-12-31 09471890 c:RetainedEarningsAccumulatedLosses 2022-12-31 09471890 d:FRS102 2023-01-01 2023-12-31 09471890 d:Audited 2023-01-01 2023-12-31 09471890 d:FullAccounts 2023-01-01 2023-12-31 09471890 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09471890 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09471890 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09471890










MODERN HIRE UK LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MODERN HIRE UK LIMITED
REGISTERED NUMBER: 09471890

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,374
4,278

Current assets
  

Debtors: amounts falling due within one year
 5 
314,420
365,922

Cash at bank and in hand
 6 
537,167
102,746

  
851,587
468,668

Creditors: amounts falling due within one year
 7 
(1,583,558)
(1,234,989)

Net current liabilities
  
 
 
(731,971)
 
 
(766,321)

  

Net liabilities
  
(728,597)
(762,043)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(729,597)
(763,043)

  
(728,597)
(762,043)


Page 1

 
MODERN HIRE UK LIMITED
REGISTERED NUMBER: 09471890
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 comprehensive income 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: 




J Friedman
Director

Date: 29 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MODERN HIRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Modern Hire UK Limited (formally Sonru UK Limited) is a company incorporated in England and Wales company number 09471890. The registered office is The Clubhouse, 20 Saint Andrew Street, London, EC4A 3AG. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which is dependent on the continued financial support of the Company's group undertakings. After making enquiries the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities for the forseeable future, being a period of twelve months from the date these financial statements were approved.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Page 3

 
MODERN HIRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

Turnover 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 turnover 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.

 
2.5

Interest receivable and similar income

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

 
2.6

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.

 
2.7

Taxation

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.

 
2.8

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.

Page 4

 
MODERN HIRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

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:

Computer equipment
-
33%

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.

 
2.9

Debtors

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

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.


 
Page 5

 
MODERN HIRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 4).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
9,932


Additions
2,696



At 31 December 2023

12,628



Depreciation


At 1 January 2023
5,654


Charge for the year on owned assets
3,600



At 31 December 2023

9,254



Net book value



At 31 December 2023
3,374



At 31 December 2022
4,278

Page 6

 
MODERN HIRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
258,453
365,922

Amounts owed by group undertakings
55,198
-

Prepayments and accrued income
769
-

314,420
365,922



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
537,167
102,746

537,167
102,746



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
5,667

Amounts owed to group undertakings
1,135,043
751,844

Corporation tax
16,900
5,900

Other taxation and social security
118,212
116,187

Accruals and deferred income
313,403
355,391

1,583,558
1,234,989



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,961 (2022 - £2,984) . Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


9.


Related party transactions

The Company has taken advantage of the exemption in FRS 102 section 33 'Related Party Disclosures' from disclosing transactions with entities within the same 100% group.

Page 7

 
MODERN HIRE UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Post balance sheet events

On May 3, 2023, a parent company of Modern Hire UK Limited was acquired by a wholly-owned subsidiary of Helium Holdings, Inc., resulting in a change to the controlling party described in Note 11. 


11.


Controlling party

The smallest group for which consolidated financial statements are drawn up is headed up by Helium Holdings Inc, a company incoporated in the United States of America whose registered office is 10876 South River Front Parkway STE 500, South Jordan UT 84095. These financial statements are not publicly available. Helium Holdings Inc is considered to be the Company's controlling party.


12.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 31 January 2025 by Stephen Poleykett BA (Hons) FCA (Senior Statutory Auditor) on behalf of MHA.

 
Page 8