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REGISTERED NUMBER: 01979614 (England and Wales)






Hireport Limited

Financial Statements

for the Year Ended 30 November 2024






Hireport Limited (Registered number: 01979614)

Contents of the Financial Statements
for the year ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hireport Limited

Company Information
for the year ended 30 November 2024







DIRECTORS: Mr M L Batty
Miss K R Shidlow
Mr D T Shidlow





REGISTERED OFFICE: Waldorf House
Waldorf Way
Wakefield
West Yorkshire
WF2 8DH





REGISTERED NUMBER: 01979614 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Accountants & Business Advisors
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Hireport Limited (Registered number: 01979614)

Balance Sheet
30 November 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 729,055 724,903

CURRENT ASSETS
Stocks 565,545 324,737
Debtors 5 492,556 460,239
Cash at bank and in hand 1,553,518 2,694,268
2,611,619 3,479,244
CREDITORS
Amounts falling due within one year 6 682,844 415,867
NET CURRENT ASSETS 1,928,775 3,063,377
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,657,830

3,788,280

PROVISIONS FOR LIABILITIES 86,451 66,589
NET ASSETS 2,571,379 3,721,691

Hireport Limited (Registered number: 01979614)

Balance Sheet - continued
30 November 2024

2024 2023
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 8 25 37
Revaluation reserve 423,551 439,616
Capital redemption reserve 75 63
Retained earnings 2,147,728 3,281,975
SHAREHOLDERS' FUNDS 2,571,379 3,721,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:




Miss K R Shidlow - Director Mr M L Batty - Director




Mr D T Shidlow - Director


Hireport Limited (Registered number: 01979614)

Notes to the Financial Statements
for the year ended 30 November 2024


1. STATUTORY INFORMATION

Hireport 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 functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Income from the sale of storage systems is invoiced upon the receipt of the order and recognised as a sale when the goods are despatched to or collected by the customer.

In respect of the provision of storage, the invoice is raised (and the sale recognised) at the end of the month for the storage provided in that month.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Leasehold improvements - Over the term of the lease
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

Fixed assets are initially recorded at cost.

The freehold property was valued on the basis of fair value prior to the transition to FRS 102.The company has followed the transitional arrangements of FRS 102 and the valuation has not been updated.

Fair value has been determined by the directors having taken the appropriate professional advice and based on similar properties in the local area.

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

Hireport Limited (Registered number: 01979614)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Pension costs and other post-retirement benefits
The company contributes to the Directors personal pension schemes. Contributions payable to the personal pension schemes are charged to the profit and loss account in the period to which they relate.

The company also 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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 14 ) .

Hireport Limited (Registered number: 01979614)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


4. TANGIBLE FIXED ASSETS
Freehold Leasehold Plant and
property improvements machinery
£ £ £
COST
At 1 December 2023 775,000 10,729 28,558
Additions - - 2,375
Disposals - - -
At 30 November 2024 775,000 10,729 30,933
DEPRECIATION
At 1 December 2023 108,500 10,729 23,505
Charge for year 15,500 - 2,864
Eliminated on disposal - - -
At 30 November 2024 124,000 10,729 26,369
NET BOOK VALUE
At 30 November 2024 651,000 - 4,564
At 30 November 2023 666,500 - 5,053

Fixtures
and Motor
fittings vehicles Totals
£ £ £
COST
At 1 December 2023 24,793 86,815 925,895
Additions 4,966 42,490 49,831
Disposals - (10,000 ) (10,000 )
At 30 November 2024 29,759 119,305 965,726
DEPRECIATION
At 1 December 2023 15,532 42,726 200,992
Charge for year 1,996 25,319 45,679
Eliminated on disposal - (10,000 ) (10,000 )
At 30 November 2024 17,528 58,045 236,671
NET BOOK VALUE
At 30 November 2024 12,231 61,260 729,055
At 30 November 2023 9,261 44,089 724,903

The freehold property was valued on the basis of fair value prior to the transition to FRS 102.The company has followed the transitional arrangements of FRS 102 and the valuation has not been updated.

Hireport Limited (Registered number: 01979614)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 454,694 420,127
Other debtors - 3,865
Prepayments and accrued income 37,862 36,247
492,556 460,239

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 154,894 127,208
Tax 367,425 135,469
Social security and other taxes 11,953 8,252
VAT 95,896 82,402
Other creditors 18,470 23,110
Directors' current accounts - 11,094
Accruals and deferred income 34,206 28,332
682,844 415,867

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 15,000 9,000
Between one and five years 60,000 36,000
In more than five years 59,250 74,250
134,250 119,250

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Nominal 2024 2023
Number: Class: value: £    £   
125 A Ordinary 10p - 12.50
125 B Ordinary 10p 12.50 12.50
125 C Ordinary 10p 12.50 12.50
25.00 37.50

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £260,000 (2023 - £240,000) were paid to the directors .