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REGISTERED NUMBER: 02761701 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Pasuda (Hire) Limited

Pasuda (Hire) Limited (Registered number: 02761701)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pasuda (Hire) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr Gordon Jones
Mr Benjamin Graham Jones



REGISTERED OFFICE: The Old Airfield
Belton Road
Sandtoft
Doncaster
South Yorkshire
DN8 5SX



REGISTERED NUMBER: 02761701 (England and Wales)



INDEPENDENT AUDITORS: Landin Wilcock & Co
Statutory Auditor
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Handelsbanken
7th Floor
3 St Pauls Place
129 Norfolk Street
Sheffield
South Yorkshire
S1 2JE

Pasuda (Hire) Limited (Registered number: 02761701)

Balance Sheet
30 June 2024

30/6/24 30/6/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 3,234,042

CURRENT ASSETS
Debtors 5 2,785,806 385,646
Cash at bank 79,906 208,832
2,865,712 594,478
CREDITORS
Amounts falling due within one year 6 (665,163 ) (246,246 )
NET CURRENT ASSETS 2,200,549 348,232
TOTAL ASSETS LESS CURRENT LIABILITIES 2,200,549 3,582,274

PROVISIONS FOR LIABILITIES - (353,701 )
NET ASSETS 2,200,549 3,228,573

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 7 - 412,200
Retained earnings 2,200,547 2,816,371
2,200,549 3,228,573

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 Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





Mr Gordon Jones - Director


Pasuda (Hire) Limited (Registered number: 02761701)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Pasuda (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.

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 as modified by the revaluation of certain assets.

Going concern

On 30 June 2024 the company transferred its trade, assets and liabilities to a fellow subsidiary company and ceased to trade.

As required by the Financial 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 directors have prepared the financial statements on the basis that the company is no longer a going concern.

No material adjustments arise as a result of the ceasing to apply the going concern basis. All assets have ben transferred to the fellow subsidiary at their net book value or market value.

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.

Critical accounting judgements and key sources of estimation uncertainty
Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Tangible fixed assets were a significant balance on the company's balance sheet and the method chosen to value the hire fleet assets has a material effect on the company's reporting position and performance. The hire fleet is carried at fair value and assessed annually by the directors opinion of its income generation and depreciated replacement cost. Factors which are taken into consideration in arriving at the valuation include current market value, condition, experience and age.

Pasuda (Hire) Limited (Registered number: 02761701)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

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

Turnover from the sale of goods represents the manufacture and sale of site cabins and related equipment. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Turnover from the sale of services represents the hire of site cabins and related equipment.
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of service provided to date, based on the stage of completion of the contract activity at the balance sheet date.

Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included within creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on cost and 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs include 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.
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.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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 asset of the company after deducting all of its liabilities.

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.


Pasuda (Hire) Limited (Registered number: 02761701)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2023 3,272,667 5,736 17,520 3,295,923
Additions 370,589 - - 370,589
Disposals (3,571,489 ) (5,736 ) (17,520 ) (3,594,745 )
Revaluations (71,767 ) - - (71,767 )
At 30 June 2024 - - - -
DEPRECIATION
At 1 July 2023 41,884 2,477 17,520 61,881
Charge for year 325,001 1,150 - 326,151
Eliminated on disposal (366,885 ) (3,627 ) (17,520 ) (388,032 )
At 30 June 2024 - - - -
NET BOOK VALUE
At 30 June 2024 - - - -
At 30 June 2023 3,230,783 3,259 - 3,234,042

Pasuda (Hire) Limited (Registered number: 02761701)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. TANGIBLE FIXED ASSETS - continued

Within the plant and machinery asset category was the hire fleet which had a net book value of £2,831,826 (2023 - £3,228,858).

The fair value of the company's hire fleet was revalued on 30 June 2024. An independent valuer was not involved. The hire fleet has been revalued at current fair value by the group finance director on an individual basis by reference to his opinion of its income generation and depreciated replacement cost.

The hire fleet was transferred to a fellow subsidiary at £2,831,826 on 30 June 2024.

5. DEBTORS
30/6/24 30/6/23
£    £   
Amounts falling due within one year:
Trade debtors - 356,483
Amounts owed by group undertakings 2,785,806 -
Other debtors - 28,918
2,785,806 385,401

Amounts falling due after more than one year:
Trade debtors - 245

Aggregate amounts 2,785,806 385,646

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade creditors - 73,208
Amounts owed to group undertakings - 33,401
Taxation and social security 652,788 123,340
Other creditors 12,375 16,297
665,163 246,246

7. RESERVES
Revaluation
reserve
£   
At 1 July 2023 412,200
Other movements (412,200 )

At 30 June 2024 -

Pasuda (Hire) Limited (Registered number: 02761701)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw your attention to Note 2 of the financial statements which explains that the trade and assets of the company have been transferred to a fellow subsidiary on 30 June 2024.

We therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern, as described in Note 2.

Our opinion is not modified in respect of this matter.

Tom Henshaw (Senior Statutory Auditor)
for and on behalf of Landin Wilcock & Co

9. OTHER FINANCIAL COMMITMENTS

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £nil (2023 - £nil). The company has provided an intercompany cross guarantee in respect of the bank borrowings of Liberty Group Holdings Limited, Pasuda Buildings Limited, Liberty Guard (UK) Limited, Don Valley Brewery Limited and Speakeasy Enterprises Limited.

10. RELATED PARTY DISCLOSURES

Summary of transactions with other related parties

The Pasuda Self Administered Pension Scheme: of which the company's director, Mr Gordon Jones is a beneficiary, owns the company's trading premises at Highfield Lane, Orgreave, Sheffield S13 9NA

During the year the company paid rent charges to the value of £9,600 (2023 - £9,600) in respect of the above property.

At the balance sheet date the amount due to The Pasuda Self Administered Pension Scheme was £nil (2023 - £nil).

11. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Liberty Group Holdings Limited, incorporated in England & Wales.

These financial statements are available upon request from The Old Airfield, Belton Road, Sandtoft, Doncaster DN8 5SX.

The ultimate controlling party is Mr Gordon Jones by virtue of his shareholding in the parent company.