ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: NI016772

P.R.O. Hire Centre (Omagh) Limited

Unaudited

Financial statements

For the Year Ended 31 December 2024

P.R.O. Hire Centre (Omagh) Limited

Registered number: NI016772

Balance Sheet

As at 31 December 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		250,733		280,482
			250,733		280,482
Current assets
Stocks	5	5,722		5,727
Debtors: amounts falling due within one year	6	48,463		51,604
Cash at bank and in hand	7	6,462		4,702
		60,647		62,033
Creditors: amounts falling due within one year	8	(239,473)		(244,300)
Net current liabilities			(178,826)		(182,267)
Total assets less current liabilities			71,907		98,215
Creditors: amounts falling due after more than one year	9		(45,639)		(84,463)

Net assets			26,268		13,752

Capital and reserves
Called up share capital	11	10,100	10,100
Profit and loss account		16,168	3,652
		26,268	13,752

Page 1

P.R.O. Hire Centre (Omagh) Limited

Registered number: NI016772

Balance Sheet (continued)

As at 31 December 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 October 2025.

Charles McGinn

Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

P.R.O. Hire Centre (Omagh) Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

1.	General information

P.R.O. Hire Centre (Omagh) Limited is a private company limited by shares incorporated in Northern Ireland within the United Kingdom. The registration number and address of the registered office are given in the Company Information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The Directors of P.R.O. Hire Centre (Omagh) Limited have reviewed the resources available and believe that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, P.R.O. Hire Centre (Omagh) Limited continues to adopt the going concern basis in preparing the financial statements.

Page 3

P.R.O. Hire Centre (Omagh) Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the Company as lessee

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

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

P.R.O. Hire Centre (Omagh) Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery	-	10%	Reducing Balance
Motor vehicles	-	25%	Reducing Balance
Computer equipment	-	20%	Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

P.R.O. Hire Centre (Omagh) Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 8).

4.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	499,801	97,115	3,400	600,316
Additions	1,040	-	-	1,040
Disposals	(5,605)	-	-	(5,605)
At 31 December 2024	495,236	97,115	3,400	595,751
Depreciation
At 1 January 2024	239,733	78,741	1,360	319,834
Charge for the year on owned assets	25,516	4,593	680	30,789
Disposals	(5,605)	-	-	(5,605)
At 31 December 2024	259,644	83,334	2,040	345,018
Net book value
At 31 December 2024	235,592	13,781	1,360	250,733
At 31 December 2023	260,068	18,374	2,040	280,482

Page 6

P.R.O. Hire Centre (Omagh) Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

5.	Stocks
		2024	2023
		£	£

Plant for hire	5,722	5,727
	5,722	5,727

Debtors

					2024	2023
					£	£


Trade debtors	44,785	44,930
Prepayments and accrued income	3,678	6,674
	48,463	51,604

7.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	6,462	4,702
Less: bank overdrafts	(32)	(25)
	6,430	4,677

8.	Creditors: amounts falling due within one year
		2024	2023
		£	£

Bank overdrafts	32	25
Bank loans	6,936	5,555
Other loans	1,250	5,000
Trade creditors	37,468	48,514
Other taxation and social security	66,370	56,694
Obligations under finance lease and hire purchase contracts	23,431	56,995
Other creditors	30,456	4,740
Accruals and deferred income	73,530	66,777
	239,473	244,300

Page 7

P.R.O. Hire Centre (Omagh) Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

9.	Creditors: amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	26,545	31,094
Other loans	-	1,250
Net obligations under finance leases and hire purchase contracts	19,094	52,119
	45,639	84,463

Amounts falling due within one year
Bank loans	6,936	5,555
Other loans	1,250	5,000
	8,186	10,555
Amounts falling due 1-2 years
Bank loans	26,545	31,094
Other loans	-	1,250
	26,545	32,344


	34,731	42,899

11.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

10,100 (2023 - 10,100) Ordinary shares of £1.00 each	10,100	10,100

Page 8