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REGISTERED NUMBER: 05319984 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Fast Hire & Sales Limited

Fast Hire & Sales Limited (Registered number: 05319984)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Fast Hire & Sales Limited (Registered number: 05319984)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 426,523 424,807

CURRENT ASSETS
Stocks 47,412 37,605
Debtors 5 134,734 185,571
Cash at bank 109,099 89,419
291,245 312,595
CREDITORS
Amounts falling due within one year 6 299,015 265,569
NET CURRENT (LIABILITIES)/ASSETS (7,770 ) 47,026
TOTAL ASSETS LESS CURRENT LIABILITIES 418,753 471,833

CREDITORS
Amounts falling due after more than one year 7 (137,951 ) (189,292 )

PROVISIONS FOR LIABILITIES (60,239 ) (75,579 )
NET ASSETS 220,563 206,962

CAPITAL AND RESERVES
Called up share capital 237 237
Share premium 882 882
Retained earnings 219,444 205,843
SHAREHOLDERS' FUNDS 220,563 206,962

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2025 and were signed on its behalf by:




Mr K Hood - Director


Fast Hire & Sales Limited (Registered number: 05319984)

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

1. STATUTORY INFORMATION

Fast Hire & Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05319984

Registered office: Bredbury Park Way
Bredbury
Stockport
Cheshire
SK6 2SN

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.

Revenue is recognised as the company becomes entitled to consideration for the goods and services provided.

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.
Freehold property - Equally over the term of the lease
Plant and machinery - 25% - 100% on reducing balance
Fixtures and fittings - 25% - 50% on reducing balance
Motor vehicles - 25% - 30% on 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 Profit and Loss Account, 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.

Fast Hire & Sales Limited (Registered number: 05319984)

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

2. ACCOUNTING POLICIES - continued

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 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 29,995 1,025,501 11,122 167,848 1,234,466
Additions - 162,252 - - 162,252
Disposals - (75,076 ) - - (75,076 )
At 31 December 2024 29,995 1,112,677 11,122 167,848 1,321,642
DEPRECIATION
At 1 January 2024 29,995 717,883 11,122 50,659 809,659
Charge for year - 94,376 - 35,157 129,533
Eliminated on disposal - (43,660 ) - - (43,660 )
Transfer to ownership - (413 ) - - (413 )
At 31 December 2024 29,995 768,186 11,122 85,816 895,119
NET BOOK VALUE
At 31 December 2024 - 344,491 - 82,032 426,523
At 31 December 2023 - 307,618 - 117,189 424,807

Fast Hire & Sales Limited (Registered number: 05319984)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2024 314,242 167,848 482,090
Additions 130,525 - 130,525
Disposals (27,500 ) - (27,500 )
Transfer to ownership (3,750 ) (30,982 ) (34,732 )
At 31 December 2024 413,517 136,866 550,383
DEPRECIATION
At 1 January 2024 71,349 50,659 122,008
Charge for year 65,095 35,157 100,252
Eliminated on disposal (10,161 ) - (10,161 )
Transfer to ownership (2,785 ) (20,355 ) (23,140 )
At 31 December 2024 123,498 65,461 188,959
NET BOOK VALUE
At 31 December 2024 290,019 71,405 361,424
At 31 December 2023 242,893 117,189 360,082

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 129,837 154,103
Amounts owed by associates - 20,000
Other debtors 4,897 11,468
134,734 185,571

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,000 3,000
Hire purchase contracts 127,249 122,392
Trade creditors 116,581 64,857
Taxation and social security 46,583 64,559
Other creditors 5,602 10,761
299,015 265,569

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,250 4,250
Hire purchase contracts 136,701 185,042
137,951 189,292

Fast Hire & Sales Limited (Registered number: 05319984)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 263,950 307,434

Amounts owing under finance lease and hire purchase contracts are secured against the related asset.

There is an unlimited guarantee and debenture held over the company by its bankers.