| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 |
| FOR |
| WHC HIRE SERVICES LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 |
| FOR |
| WHC HIRE SERVICES LIMITED |
| WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WHC HIRE SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chargrove House |
| Shurdington Road |
| Cheltenham |
| Gloucestershire |
| GL51 4GA |
| WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
| BALANCE SHEET |
| 30 APRIL 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
| BALANCE SHEET - continued |
| 30 APRIL 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 1. | STATUTORY INFORMATION |
| WHC Hire Services Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about WHC Hire Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. Revenue is recognised with a deposit on hire and then balance on completion of hire, on completion of test and on delivery of goods. |
| The total turnover of the company for the year has been derived from its principle activity wholly undertaken in the UK. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| The directors have taken the decision to adjust the depreciation percentage for both motor and plant to 12.5% on a reducing balance method to reflect the higher retained values in the second hand market. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. However, the current capital allowance and tax regime and ongoing capital expenditure means that the Directors consider it to be highly unlikely that the accelerated capital allowances will reverse in the foreseeable future. Accordingly, the Directors believe it is not appropriate to increase the deferred tax provision beyond its current level. The amount of the provision will be reviewed each year in the light of ongoing capital expenditure and any changes to the tax regime. |
| 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. |
| 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. |
| 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. |
| Going concern |
| The director have considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability of the company to continue as a going concern have been identified by the director. |
| Provisions |
| Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2024 |
| Additions |
| At 30 April 2025 |
| AMORTISATION |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 May 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 30 April 2025 |
| DEPRECIATION |
| At 1 May 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 May 2024 |
| Impairments | ( |
) |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' loan accounts | 110,377 | 101,619 |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other loans |
| Hire purchase contracts and finance leases |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation Tax |
| Social security and other taxes |
| VAT | 24,640 | 210,254 |
| Wages and salaries control | 13,965 | 15,169 |
| Factored debt | 787,181 | 634,686 |
| Pension Control | 21,141 | 17,533 |
| Directors' loan accounts | 59,976 | 19,334 |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other loans - 2-5 years |
| Hire purchase contracts and finance leases |
| WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Hire purchase contracts and finance leases | 8,571,438 | 8,573,851 |
| The Bank Loans and mortgage in parent company are secured against the properties Alexandra Way in Tewkesbury, Bath Road in Worcester and Land at the back of Bath Road Worcester and other assets of the company. Containing fixed and floating charges and negative pledge. |
| The Hire Purchase is secured against the equipment to which it relates, containing fixed and floating charges. The floating charge covers all the property or undertaking of the company. |
| The company also has a Debenture with Hitachi Capital (UK) PLC which also covers all property or undertaking of the company. The charge contains both fixed and floating charges as well as a negative pledge. |
| There was a new charged registered on 3 January 2023 on Companies House for Lombard North Central PLC which contains a fixed charge and negative pledge. |
| There was also a charge registered on Companies House after the date of these accounts but before the date of signing for Carrick Asset Finance Limited which contains a fixed charge and negative pledge. |
| Also Included within other creditors is amount on finance with Novuna Business Cash flow of £787,181 (2024: £634,686). |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 April 2025 and 30 April 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2025 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Interest is being charged on the above balances at the HMRC approved rate, and there are no set repayment terms. |
| 12. | RELATED PARTY DISCLOSURES |
| During the year the Group consolidated intergroup balances and investments with Cotswold Tool and Plant Hire Limited, which had arisen due to the transfer of properties between group companies in a previous financial year. |
| WHC Hire Services Limited’s Fixed Asset investment in its subsidiary Cotswold Tool & Plant Hire Limited has now been impaired to reflect the value of the share capital in Cotswold Tool & Plant Hire Limited following the dividend voted and paid to the Parent Company. |