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REGISTERED NUMBER: 06261835 (England and Wales)















NEON HIRE SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEON HIRE SERVICES LIMITED

COMPANY INFORMATION
For The Year Ended 31 OCTOBER 2024







DIRECTOR: J M Till





REGISTERED OFFICE: 19 Sherwood Road
Aston Fields Industrial Estate
Bromsgrove
Worcestershire
B60 3DR





REGISTERED NUMBER: 06261835 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,153,903 1,861,225

CURRENT ASSETS
Debtors 5 741,765 443,952
Cash at bank 54,457 118,507
796,222 562,459
CREDITORS
Amounts falling due within one year 6 190,888 539,376
NET CURRENT ASSETS 605,334 23,083
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,759,237

1,884,308

CREDITORS
Amounts falling due after more than one
year

7

(4,430

)

(64,925

)

PROVISIONS FOR LIABILITIES (207,273 ) (135,071 )
NET ASSETS 1,547,534 1,684,312

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 370,369 611,435
Retained earnings 1,177,065 1,072,777
1,547,534 1,684,312

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835)

BALANCE SHEET - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 February 2025 and were signed by:





J M Till - Director


NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 OCTOBER 2024


1. STATUTORY INFORMATION

Neon 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.

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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 33% on cost, 25% on cost, 25% on reducing balance, 20% on cost, 20% on reducing balance and 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

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

NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
Property machinery vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 November 2023 70,826 4,516,499 504,262 10,723 5,102,310
Disposals - (838,161 ) (159,456 ) - (997,617 )
At 31 October 2024 70,826 3,678,338 344,806 10,723 4,104,693
DEPRECIATION
At 1 November 2023 64,199 2,796,554 370,258 10,074 3,241,085
Charge for year 6,127 371,890 23,509 556 402,082
Eliminated on disposal - (572,887 ) (119,490 ) - (692,377 )
At 31 October 2024 70,326 2,595,557 274,277 10,630 2,950,790
NET BOOK VALUE
At 31 October 2024 500 1,082,781 70,529 93 1,153,903
At 31 October 2023 6,627 1,719,945 134,004 649 1,861,225

Cost or valuation at 31 October 2024 is represented by:

Improvements
to Plant and Motor Computer
Property machinery vehicles equipment Totals
£    £    £    £    £   
Cost 70,826 3,678,338 344,806 10,723 4,104,693

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 November 2023 1,354,891 308,894 1,663,785
Disposals (143,428 ) (21,492 ) (164,920 )
Transfer to ownership (496,861 ) - (496,861 )
At 31 October 2024 714,602 287,402 1,002,004
DEPRECIATION
At 1 November 2023 643,337 212,016 855,353
Charge for year 73,272 36,093 109,365
Eliminated on disposal (80,494 ) (13,797 ) (94,291 )
Transfer to ownership (321,491 ) - (321,491 )
At 31 October 2024 314,624 234,312 548,936
NET BOOK VALUE
At 31 October 2024 399,978 53,090 453,068
At 31 October 2023 711,554 96,878 808,432

NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 679,265 443,952
Amounts owed by group undertakings 62,500 -
741,765 443,952

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts (see note 8) 60,495 251,455
Trade creditors 14 11,709
Taxation and social security 126,379 268,712
Other creditors 4,000 7,500
190,888 539,376

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts (see note 8) 4,430 64,925

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.10.24 31.10.23
£    £   
Gross obligations repayable:
Within one year 61,750 259,445
Between one and five years 4,506 66,256
66,256 325,701

Finance charges repayable:
Within one year 1,255 7,990
Between one and five years 76 1,331
1,331 9,321

Net obligations repayable:
Within one year 60,495 251,455
Between one and five years 4,430 64,925
64,925 316,380

NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 OCTOBER 2024


9. RESERVES
Revaluation
reserve
£   
At 1 November 2023 611,435
Deficit for year (117,610 )
Deferred tax (123,456 )

At 31 October 2024 370,369

10. ULTIMATE CONTROLLING PARTY

The controlling party is G T Access Limited.