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Registration number: 09671898

P&W Event Hire Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

P&W Event Hire Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

P&W Event Hire Ltd

Company Information

Directors




 

R P Walker

S F Parsons

Registered office








 

Flat 18, California Court
25 Downs Road
Sutton
Surrey
SM2 5NR

Accountants

A S Partnership Ltd
Chartered Certified Accountants158 Stafford Road
Wallington
Surrey
SM6 9BS

 

P&W Event Hire Ltd

(Registration number: 09671898)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

           

Fixed Assets

   

 

Tangible Assets

4

 

138,721

 

145,959

Current assets

   

 

Debtors

5

2,821

 

3,483

 

Cash at bank and in hand

 

76,707

 

83,765

 

 

79,528

 

87,248

 

Creditors: Amounts falling due within one year

6

(114,779)

 

(84,947)

 

Net current (liabilities)/assets

   

(35,251)

 

2,301

Total assets less current liabilities

   

103,470

 

148,260

Creditors: Amounts falling due after more than one year

6

 

(66,517)

 

(78,072)

Provisions for liabilities

 

(29,174)

 

(27,786)

Net assets

   

7,779

 

42,402

Capital and reserves

   

 

Called up share capital

7

100

 

100

 

Retained earnings

7,679

 

42,302

 

Shareholders' funds

   

7,779

 

42,402

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

As permitted by s444A and s444(5A) of the Companies Act 2006, the directors have not delivered to the Registrar a copy of the directors report, profit and loss account and associated notes.

 

P&W Event Hire Ltd

(Registration number: 09671898)
Balance Sheet as at 31 July 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 8 April 2025 and signed on its behalf by:
 

.........................................
R P Walker
Director

 

P&W Event Hire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Flat 18, California Court
25 Downs Road
Sutton
Surrey
SM2 5NR

These financial statements were authorised for issue by the Board on 8 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

P&W Event Hire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

P&W Event Hire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

P&W Event Hire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible Assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

-

101,439

143,426

244,865

Additions

16,397

-

18,470

34,867

Disposals

-

-

(3,412)

(3,412)

At 31 July 2024

16,397

101,439

158,484

276,320

Depreciation

At 1 August 2023

-

17,324

81,582

98,906

Charge for the year

102

21,029

19,780

40,911

Eliminated on disposal

-

-

(2,218)

(2,218)

At 31 July 2024

102

38,353

99,144

137,599

Carrying amount

At 31 July 2024

16,295

63,086

59,340

138,721

At 31 July 2023

-

84,115

61,844

145,959

Included within the net book value of land and buildings above is £16,295 (2023 - £Nil) in respect of short leasehold land and buildings.
 

 

P&W Event Hire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Debtors

2024
£

2023
£

Other debtors

2,821

3,483

2,821

3,483

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

33,000

24,605

Directors' loan accounts

 

7,581

8,003

Other payables

 

35,521

32,388

Accruals

 

1,135

965

Corporation tax control

 

16,381

4,940

VAT

 

21,161

14,046

 

114,779

84,947

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

66,517

78,072

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       
 

P&W Event Hire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,083

16,947

Hire purchase contracts

47,434

61,125

Other borrowings

5,000

-

66,517

78,072

Bank borrowings includes, due to COVID 19, Government Guaranteed Bounce Back Loan of £25,779 received in June 2020, repayable over 10 years with interest charged at 2.5% per annum. The interest of first 12 months is wholly subsidised by Goverment and loan is repayable by fixed monthly instalments from July 2021.

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,864

2,865

Hire purchase contracts

22,636

17,991

Other borrowings

7,500

3,749

33,000

24,605

9

Dividends

Interim dividends paid

 

2024
£

2023
£

Interim dividend

62,400

40,000

     
 

P&W Event Hire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

18,000

18,000