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Registration number: 03440165

Hire Services (Southern) Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Hire Services (Southern) Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Financial Statements

4 to 8

 

Hire Services (Southern) Limited

Company Information

Directors

G R Warr

M B Warr

A G Warr

A V Warr

C J Warr

Registered office

130 Shaftesbury Avenue
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Hire Services (Southern) Limited

Statement of Financial Position as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,123,441

2,130,057

Current assets

 

Stocks

5

850,000

685,000

Debtors

6

2,373,922

2,227,603

Cash at bank and in hand

 

242,551

173,165

 

3,466,473

3,085,768

Creditors: Amounts falling due within one year

7

(743,248)

(496,082)

Net current assets

 

2,723,225

2,589,686

Total assets less current liabilities

 

4,846,666

4,719,743

Creditors: Amounts falling due after more than one year

7

(8,333)

(18,333)

Provisions for liabilities

(411,667)

(373,468)

Net assets

 

4,426,666

4,327,942

Capital and reserves

 

Called up share capital

1,200

1,200

Retained earnings

4,425,466

4,326,742

Shareholders' funds

 

4,426,666

4,327,942

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

 

Hire Services (Southern) Limited

Statement of Financial Position as at 30 September 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the Board on 24 June 2025 and signed on its behalf by:
 

.........................................

G R Warr

Director

Company registration number: 03440165

 

Hire Services (Southern) Limited

Notes to the Financial Statements for the Year Ended 30 September 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:
130 Shaftesbury Avenue
London
W1D 5EU

The principal activity of the company is the hire and sale of plant and equipment.

2

Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The directors' current view is that the impact of economic uncertainty will be manageable as the company operates with controllable overheads and at 30 September 2024 had net assets of £4,426,666 and holds significant cash balances of £242,551.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the annual report.

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 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. Hire of equipment is accounted for based upon the number of days that plant and equipment is out on hire on a time basis. Revenue from the sale of goods is recognised at the point of sale from the company's shop and premises, and from the point of sale for online sales.

 

Hire Services (Southern) Limited

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

Tax

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

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 statement of financial position 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 & Machinery

15% straight line

Motor Vehicles

15% straight line

Fixtures & Fittings

15% straight line

Leasehold improvements

10% straight line

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.

Stocks

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

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.

 

Hire Services (Southern) Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 35 (2023 - 33).

4

Tangible assets

Land and buildings
£

Fixtures & fittings
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 October 2023

1,091,169

27,939

479,460

3,254,416

4,852,984

Additions

75,973

14,179

-

463,614

553,766

Disposals

-

-

-

(1,163,691)

(1,163,691)

At 30 September 2024

1,167,142

42,118

479,460

2,554,339

4,243,059

Depreciation

At 1 October 2023

270,085

23,770

280,501

2,148,571

2,722,927

Charge for the year

113,475

4,085

54,024

354,584

526,168

Eliminated on disposal

-

-

-

(1,129,477)

(1,129,477)

At 30 September 2024

383,560

27,855

334,525

1,373,678

2,119,618

Carrying amount

At 30 September 2024

783,582

14,263

144,935

1,180,661

2,123,441

At 30 September 2023

821,084

4,169

198,959

1,105,845

2,130,057

 

Hire Services (Southern) Limited

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

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

850,000

685,000

6

Debtors

2024
£

2023
£

Trade debtors

633,959

613,209

Other debtors

1,739,963

1,614,394

2,373,922

2,227,603

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

493,599

217,226

Taxation and social security

113,767

144,060

Accruals and deferred income

18,764

18,577

Other creditors

117,118

116,219

743,248

496,082


Creditors include bank loans of £10,000 (2023 - £10,000).

Creditors: amounts falling due after more than one year

2024
£

2023
£

Other non-current financial liabilities

8,333

18,333

Creditors include bank loans of £8,333 (2023 - £18,333).

 

Hire Services (Southern) Limited

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

8

Deferred Taxation

2024

Liability

£

Accelerated capital allowances

412,249

Losses

-

Provisions

(582)

411,667

2023

Liability

£

Accelerated capital allowances

405,888

Losses

(31,861)

Provisions

(559)

373,468

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £Nil (2023 - £66,677).

10

Related party transactions

Included within 'Other Debtors' are amounts of £1,717,012 (2023: £1,568,978) due from Real-X Limited and £22,954 (2023: £45,417) due from Real-X Developments Limited, companies in which G R Warr, M B Warr, A G Warr, A V Warr and C J Warr are directors and shareholders. During the year the company paid rent of £190,000 (2023: £190,000) to Real-X Limited, and charged management fees to both Real-X Limited and Real-X (Developments) Limited of £40,987 (2023: £40,789).