IRIS Accounts Production v24.2.0.383 NI037208 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI0372082023-12-31NI0372082024-12-31NI0372082024-01-012024-12-31NI0372082022-12-31NI0372082023-01-012023-12-31NI0372082023-12-31NI037208ns15:NorthernIreland2024-01-012024-12-31NI037208ns14:PoundSterling2024-01-012024-12-31NI037208ns10:Director12024-01-012024-12-31NI037208ns10:PrivateLimitedCompanyLtd2024-01-012024-12-31NI037208ns10:SmallEntities2024-01-012024-12-31NI037208ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-31NI037208ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-31NI037208ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-31NI037208ns10:FullAccounts2024-01-012024-12-31NI037208ns10:Director22024-01-012024-12-31NI037208ns10:Director32024-01-012024-12-31NI037208ns10:CompanySecretary12024-01-012024-12-31NI037208ns10:RegisteredOffice2024-01-012024-12-31NI037208ns5:CurrentFinancialInstruments2024-12-31NI037208ns5:CurrentFinancialInstruments2023-12-31NI037208ns5:Non-currentFinancialInstruments2024-12-31NI037208ns5:Non-currentFinancialInstruments2023-12-31NI037208ns5:ShareCapital2024-12-31NI037208ns5:ShareCapital2023-12-31NI037208ns5:RetainedEarningsAccumulatedLosses2024-12-31NI037208ns5:RetainedEarningsAccumulatedLosses2023-12-31NI037208ns5:LandBuildings2023-12-31NI037208ns5:PlantMachinery2023-12-31NI037208ns5:FurnitureFittings2023-12-31NI037208ns5:MotorVehicles2023-12-31NI037208ns5:LandBuildings2024-01-012024-12-31NI037208ns5:PlantMachinery2024-01-012024-12-31NI037208ns5:FurnitureFittings2024-01-012024-12-31NI037208ns5:MotorVehicles2024-01-012024-12-31NI037208ns5:LandBuildings2024-12-31NI037208ns5:PlantMachinery2024-12-31NI037208ns5:FurnitureFittings2024-12-31NI037208ns5:MotorVehicles2024-12-31NI037208ns5:LandBuildings2023-12-31NI037208ns5:PlantMachinery2023-12-31NI037208ns5:FurnitureFittings2023-12-31NI037208ns5:MotorVehicles2023-12-31NI037208ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-31NI037208ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31NI037208ns5:Non-currentFinancialInstruments2024-01-012024-12-31
REGISTERED NUMBER: NI037208 (Northern Ireland)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

HP Hire Limited

HP Hire Limited (Registered number: NI037208)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HP Hire Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr R Hamilton
Mrs R Hamilton
Mr M Hamilton



SECRETARY: Mr R Hamilton



REGISTERED OFFICE: 5 Black Stick Road
Killyhevlin Industrial Estate
Enniskillen
Co. Fermanagh
BT74 4EB



REGISTERED NUMBER: NI037208 (Northern Ireland)



ACCOUNTANTS: HMCI Limited
T/A Hamill McIlwaine
28-30 Old Mountfield Road
Omagh
Co. Tyrone
BT79 7BJ



BANKERS: Ulster Bank Limited
16 Darling Street
Enniskillen
Co. Fermanagh
BT74 7ER



SOLICITORS: Murnaghan & Fee
Queen Elizabeth Road
Enniskillen
Co. Fermanagh
BT74 7JA

HP Hire Limited (Registered number: NI037208)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,866,623 1,666,939

CURRENT ASSETS
Stocks 196,102 187,944
Debtors 5 158,819 142,626
Cash at bank 247,190 164,746
602,111 495,316
CREDITORS
Amounts falling due within one year 6 457,699 280,746
NET CURRENT ASSETS 144,412 214,570
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,011,035

1,881,509

CREDITORS
Amounts falling due after more than one
year

7

(448,473

)

(490,148

)

PROVISIONS FOR LIABILITIES (237,605 ) (199,140 )
NET ASSETS 1,324,957 1,192,221

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 1,322,957 1,190,221
SHAREHOLDERS' FUNDS 1,324,957 1,192,221

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

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

The directors acknowledge their 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.

HP Hire Limited (Registered number: NI037208)

Balance Sheet - continued
31 December 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 and authorised for issue by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mr R Hamilton - Director


HP Hire Limited (Registered number: NI037208)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

HP Hire Limited is a private company, limited by shares , registered in Northern Ireland. 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.

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 is recognised upon delivery of the goods and services to the customer.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off costs of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Freehold property2%-Straight line
Motor vehicles25%-Reducing balance
Plant and machinery12.5%-Reducing balance
Fixtures and fittings15%-Reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

HP Hire Limited (Registered number: NI037208)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 620,132 2,438,056 116,873 213,120 3,388,181
Additions - 362,250 4,524 29,645 396,419
Disposals - (168,948 ) - (15,000 ) (183,948 )
At 31 December 2024 620,132 2,631,358 121,397 227,765 3,600,652
DEPRECIATION
At 1 January 2024 14,000 1,416,441 106,447 184,354 1,721,242
Charge for year 2,000 148,256 2,243 14,596 167,095
Eliminated on disposal - (139,334 ) - (14,974 ) (154,308 )
At 31 December 2024 16,000 1,425,363 108,690 183,976 1,734,029
NET BOOK VALUE
At 31 December 2024 604,132 1,205,995 12,707 43,789 1,866,623
At 31 December 2023 606,132 1,021,615 10,426 28,766 1,666,939

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 129,322 131,985
Other debtors 29,497 10,641
158,819 142,626

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts 166,452 169,283
Trade creditors 264,109 61,846
Taxation and social security 11,248 23,617
Other creditors 5,242 15,352
457,699 280,746

HP Hire Limited (Registered number: NI037208)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,991 15,105
Hire purchase contracts 217,980 236,644
Other creditors 225,502 238,399
448,473 490,148

Security

The company's bank loans and overdraft are secured by the following:

- Freehold 1st legal charge over commercial property comprising a showroom, workshop and yard at Killyhevlin Industrial Estate, Enniskillen.

- Debenture giving a fixed and floating charge over the company's assets.

8. RELATED PARTY DISCLOSURES

At the year end an amount of £225,502 (2023 £238,399) was owed to the directors from the company and is included in other creditors in the accounts (note 8). No interest is charged on this balance.