Gilder Hire Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09783604 (England and Wales)

Audited Financial Statements for the Year Ended 31st December 2024

for

Gilder Hire Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W Gilder

M Evans

REGISTERED OFFICE:

Teddington Hands

Evesham Road

Tewkesbury

Gloucestershire

GL20 8NE

REGISTERED NUMBER:

09783604 (England and Wales)

AUDITORS:

Richards Sandy Audit Services Limited

(Statutory Auditor)

Thorneloe House

25 Barbourne Road

Worcester

WR1 1RU

FIXED ASSETS

Tangible assets

4

828,496

891,186

CURRENT ASSETS

Stocks

216,164

168,793

Debtors

6,375,957

5,489,682

Cash at bank

602,355

590,653

7,194,476

6,249,128

CREDITORS

Amounts falling due within one year

651,390

530,589

NET CURRENT ASSETS

6,543,086

5,718,539

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,371,582

6,609,725

CREDITORS

Amounts falling due after more than one
year

36,185

56,103

NET ASSETS

7,335,397

6,553,622

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

7,335,297

6,553,522

SHAREHOLDERS' FUNDS

7,335,397

6,553,622

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 30th September 2025 and were signed on its behalf by:

W Gilder - Director

1.	STATUTORY INFORMATION

Gilder Hire 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.

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 is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured as the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales.

Turnover is recognised at point of delivery of service, this being a period of tug hire. Tug hire is invoiced on a weekly basis, with revenue being recognised over the period of hire.

TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses:

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of an asset, and is credited or charged to the profit or loss.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items and are measured on a FIFO basis.

Stock relates to spare parts used to maintain and service tugs.

FINANCIAL INSTRUMENTS

Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where 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.

Basic Financial Assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.

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.

PENSION COSTS

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2024

2,455,162

Additions

206,392

Disposals

(76,628

)

At 31st December 2024

2,584,926

DEPRECIATION

At 1st January 2024

1,563,976

Charge for year

249,054

Eliminated on disposal

(56,600

)

At 31st December 2024

1,756,430

NET BOOK VALUE

At 31st December 2024

828,496

At 31st December 2023

891,186

5.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Hire purchase contracts

56,103

75,077

Hire purchases are secured over the tangible fixed assets to which they relate.

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Iestyn Richards FCA CTA FCCA (Senior Statutory Auditor)

for and on behalf of Richards Sandy Audit Services Limited

7.	ULTIMATE PARENT COMPANY

William Gilder Group Limited is regarded by the directors as being the company's ultimate parent company.

The registered office address of William Gilder Group Limited is Teddington Hands, Evesham Road, Tewkesbury, Gloucestershire, England, GL20 8NE.

8.	CROSS GUARANTEE

Barclays Bank Plc securities:

There are cross guarantees by the company's bankers between the company, its parent undertaking William Gilder Group Limited and its fellow subsidiaries, William Gilder Limited and Gilder Hire Limited, as security.

These are secured by way of fixed and floating charges over all assets and undertakings of the company.

Aldermore Bank Plc securities:

A guarantee has been provided by the company, its parent undertaking and its fellow subsidiaries to Aldermore Bank Plc, in respect of a hire purchase contract for the sum of £600,000 commencing on 4 January 2018.