REGISTERED NUMBER: 07425227 (England and Wales)

THE HIRING HUB LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Swan

E L'Estrange Beaton

O C Beaton

O Chambers

S J Wilkinson

REGISTERED OFFICE:

Fourways House

57 Hilton Street

Manchester

M1 2EJ

REGISTERED NUMBER:

07425227 (England and Wales)

ACCOUNTANTS:

Clarke Nicklin LLP

Chartered Accountants

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3TD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

57,771

27,877

57,771

27,877

CURRENT ASSETS

Debtors

6

413,421

437,795

Cash at bank and in hand

161,749

289,691

575,170

727,486

CREDITORS

Amounts falling due within one year

7

3,764,281

3,965,404

NET CURRENT LIABILITIES

(3,189,111

)

(3,237,918

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,131,340

)

(3,210,041

)

CREDITORS

Amounts falling due after more than one year

8

3,328,303

1,736,035

NET LIABILITIES

(6,459,643

)

(4,946,076

)

CAPITAL AND RESERVES

Called up share capital

11

12

12

Share premium

22,498

22,498

Retained earnings

(6,482,153

)

(4,968,586

)

SHAREHOLDERS' FUNDS

(6,459,643

)

(4,946,076

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

O Chambers - Director

1.	STATUTORY INFORMATION

The Hiring Hub 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.

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.

Going Concern

The company is funded by way of debt finance from its parent company and a bank loan. There are no plans for the group debt to be recalled at any point and, as such, the directors are satisfied that the company continues to operate on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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 sales/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.

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.

Software is being amortised evenly over its useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Software

£

COST

At 1 January 2024

and 31 December 2024

172,379

AMORTISATION

At 1 January 2024

and 31 December 2024

172,379

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

583

13,847

105,871

120,301

Additions

-

38,364

1,865

40,229

At 31 December 2024

583

52,211

107,736

160,530

DEPRECIATION

At 1 January 2024

505

9,488

82,431

92,424

Charge for year

19

3,393

6,923

10,335

At 31 December 2024

524

12,881

89,354

102,759

NET BOOK VALUE

At 31 December 2024

59

39,330

18,382

57,771

At 31 December 2023

78

4,359

23,440

27,877

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

158,368

176,025

Amounts owed by group undertakings

137,802

118,602

Other debtors

15,221

-

VAT

54,815

64,679

Prepayments and accrued income

47,215

78,489

413,421

437,795

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

5,355

5,355

Trade creditors

239,378

356,684

Amounts owed to group undertakings

3,294,481

3,298,335

Social security and other taxes

15,988

36,492

Other creditors

9,009

11,014

Accruals and deferred income

200,070

257,524

3,764,281

3,965,404

Other creditors includes unpaid pension contributions of £3,985 (2023: £3,768).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

26,005

31,360

Other loans

3,302,298

1,704,675

3,328,303

1,736,035

Bank loans include £2,531 (2023: £8,599) which is repayable in instalments after more than 5 years.

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

46,371

61,828

Between one and five years

-

46,371

46,371

108,199

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

31,360

36,715

Other loans

3,302,298

1,704,675

3,333,658

1,741,390

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,176

Ordinary

£0.01

12

12

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Ensco 1469 Limited. This company is under the control of Richard Beaton.