No1 Skip Hire Ltd - Filleted accounts

Registered number

07271218

No1 Skip Hire Ltd

Filleted Accounts

31 August 2024

No1 Skip Hire Ltd
Registered number:		07271218
Balance Sheet
as at 31 August 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		334,389			344,893

Current assets
Debtors	4	116,534			37,642
Cash at bank and in hand		983,354			623,154
		1,099,888			660,796

Creditors: amounts falling due within one year	5	(649,153)			(537,567)

Net current assets			450,735			123,229

Total assets less current liabilities			785,124			468,122

Creditors: amounts falling due after more than one year	6		(5,155)			(21,181)

Provisions for liabilities			(75,302)			(76,112)


Net assets			704,667			370,829

Capital and reserves
Called up share capital			100			100
Profit and loss account			704,567			370,729

Shareholders' funds			704,667			370,829

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr H Singh
Director
Approved by the board on 5 September 2025

No1 Skip Hire Ltd
Notes to the Accounts
for the year ended 31 August 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	20% Reducing balance
	Fixtures, fittings, tools and equipment	20% Reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			32		32


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 September 2023	495,645		279,801		775,446
	Additions	32,500		40,596		73,096
	At 31 August 2024	528,145		320,397		848,542

	Depreciation
	At 1 September 2023	251,521		179,032		430,553
	Charge for the year	55,325		28,275		83,600
	At 31 August 2024	306,846		207,307		514,153

	Net book value
	At 31 August 2024	221,299		113,090		334,389
	At 31 August 2023	244,124		100,769		344,893


4	Debtors			2024		2023
£					£

	Trade debtors			54,756		2,713
	Other debtors			61,778		34,929
				116,534		37,642


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			6,520		10,648
	Trade creditors			327,668		335,190
	Taxation and social security costs			223,216		138,174
	Other creditors			91,749		53,555
				649,153		537,567


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			5,155		18,963
	Other creditors			-		2,218
				5,155		21,181


7	Related party transactions

	The company operates from the premises controlled by the director, and a rental paid of £21925 during the year (2023: £21925)


8	Controlling party

	The company is controlled by the director.


9	Other information

	No1 Skip Hire Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Bull Lane Works,
	Brandon Way
	West Bromwick
	West Midlands,
	B70 9PQ