Survey Hire UK Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Survey Hire UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10842482 . The registered office is Unit 12 , Axus Close, Great North Business Park, Biggleswade, Bedfordshire, SG18 9GH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Straight line basis over 5 years
Plant & Machinery	Straight line basis over 5 years
Motor Vehicles	Straight line basis over 3 years
Fixtures & Fittings	Straight line basis over 4 years
Computer Equipment	Straight line basis over 3 years

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Survey Hire UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2023: 5)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 January 2024	175,001	776,807	37,339	5,512
Additions	-	319,164	35,088	-
Disposals	-	(64,300 )	(37,339 )	-

As at 31 December 2024	175,001	1,031,671	35,088	5,512

Depreciation
As at 1 January 2024	35,680	379,620	32,303	4,444
Provided during the period	35,000	155,106	8,772	272
Disposals	-	(46,629 )	(32,303 )	-

As at 31 December 2024	70,680	488,097	8,772	4,716

Net Book Value
As at 31 December 2024	104,321	543,574	26,316	796

As at 1 January 2024	139,321	397,187	5,036	1,068


	Computer Equipment	Total
	£	£
Cost
As at 1 January 2024	5,948	1,000,607
Additions	638	354,890
Disposals	-	(101,639 )

As at 31 December 2024	6,586	1,253,858

Depreciation
As at 1 January 2024	3,308	455,355
Provided during the period	1,443	200,593
Disposals	-	(78,932 )

As at 31 December 2024	4,751	577,016

Net Book Value
As at 31 December 2024	1,835	676,842

As at 1 January 2024	2,640	545,252

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Survey Hire UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	255,195	215,170
Prepayments and accrued income	7,563	2,525
Other debtors	4,300	-

	267,058	217,695

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	89,582	12,854
Trade creditors	169,867	190,468
Bank loans and overdrafts	9,500	9,500
Other loans	-	40,000
Taxation and social security	46,679	43,354
Other creditors	21,332	7,294
Accruals and deferred income	1,060	1,748

	338,020	305,218

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	124,818	22,494
Bank loans	5,385	15,032
Other loans	-	8,486

	130,203	46,012

8. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	89,582	12,854
Later than one year and not later than five years	124,818	22,494

	214,400	35,348

	214,400	35,348

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	109	102

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Survey Hire UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	42,933	50,186
Later than one year and not later than five years	36,444	75,550

	79,377	125,736

11. Pension Commitments

The company operates a defined contribution pension scheme for eligible employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,108 (2023: £991) were due to the fund. They are included in Other Creditors.

12. Related Party Transactions

The company offers office and storage space rent free to another company in which one of the company’s directors has significant control. The annual rent charge would be £10,067 (2023: £10,067).

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		676,842		545,252

			676,842		545,252
CURRENT ASSETS
Debtors	5	267,058		217,695
Cash at bank and in hand		23,914		24,589

		290,972		242,284
Creditors: Amounts Falling Due Within One Year	6	(338,020 )		(305,218 )

NET CURRENT ASSETS (LIABILITIES)			(47,048 )		(62,934 )

TOTAL ASSETS LESS CURRENT LIABILITIES			629,794		482,318

Creditors: Amounts Falling Due After More Than One Year	7		(130,203 )		(46,012 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(105,155 )		(79,330 )

NET ASSETS			394,436		356,976

CAPITAL AND RESERVES
Called up share capital	9		109		102
Profit and Loss Account			394,327		356,874

SHAREHOLDERS' FUNDS			394,436		356,976