REGISTERED NUMBER: 06194022 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HIRELINK UK (MIDLANDS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Green

J Leeney

SECRETARY:

D Green

REGISTERED OFFICE:

13-19 Gate Lane

Boldmere

Sutton Coldfield

West Midlands

B73 5TR

REGISTERED NUMBER:

06194022 (England and Wales)

ACCOUNTANTS:

Prime

Chartered Accountants

161 Newhall Street

Birmingham

B3 1SW

FIXED ASSETS

Tangible assets

3

2,240,388

1,747,094

CURRENT ASSETS

Stocks

13,000

13,000

Debtors

4

485,729

311,540

Cash at bank

80,843

134,032

579,572

458,572

CREDITORS

Amounts falling due within one year

5

776,675

581,748

NET CURRENT LIABILITIES

(197,103

)

(123,176

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,043,285

1,623,918

CREDITORS

Amounts falling due after more than one year

6

(611,989

)

(431,873

)

PROVISIONS FOR LIABILITIES

(527,924

)

(406,020

)

NET ASSETS

903,372

786,025

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

39,988

39,988

Retained earnings

853,384

736,037

SHAREHOLDERS' FUNDS

903,372

786,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

J Leeney - Director

1.	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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced hiring and sales of goods, excluding value added tax. There are no long-term hire periods and hence the turnover on the hire of goods is fully recognised at the time of invoicing.

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

-

15% straight line

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance or 10% straight line

Leasehold property improvements are being depreciated over the lease term, which expires on 16 February 2027.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 that have been enacted or substantively enacted by the balance sheet date.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 23 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2024

3,307,482

17,152

407,326

3,731,960

Additions

662,324

319

179,002

841,645

Disposals

-

-

(14,995

)

(14,995

)

At 31 March 2025

3,969,806

17,471

571,333

4,558,610

DEPRECIATION

At 1 April 2024

1,773,131

14,332

197,403

1,984,866

Charge for year

273,928

455

67,340

341,723

Eliminated on disposal

-

-

(8,367

)

(8,367

)

At 31 March 2025

2,047,059

14,787

256,376

2,318,222

NET BOOK VALUE

At 31 March 2025

1,922,747

2,684

314,957

2,240,388

At 31 March 2024

1,534,351

2,820

209,923

1,747,094

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Valuation in 2015

513,426

-

-

513,426

Cost

3,456,380

17,471

571,333

4,045,184

3,969,806

17,471

571,333

4,558,610

If plant and machinery had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

2,095,552

2,095,552

Aggregate depreciation

948,530

948,530

Plant and machinery were valued on an open market basis on 31 March 2015 by MGR Appraisals Ltd, Chartered Surveyors. The directors have reviewed the position at 31 March 2024 and do not consider there to have been a material movement in valuations since, and hence that original valuation is still considered to be valid.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

1,958,966

329,873

2,288,839

Additions

526,370

179,002

705,372

Disposals

-

(14,995

)

(14,995

)

At 31 March 2025

2,485,336

493,880

2,979,216

DEPRECIATION

At 1 April 2024

622,533

144,505

767,038

Charge for year

219,051

62,429

281,480

Eliminated on disposal

-

(8,367

)

(8,367

)

At 31 March 2025

841,584

198,567

1,040,151

NET BOOK VALUE

At 31 March 2025

1,643,752

295,313

1,939,065

At 31 March 2024

1,336,433

185,368

1,521,801

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

399,062

277,388

Other debtors

86,667

34,152

485,729

311,540

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loan

10,000

10,000

Hire purchase contracts (see note 7)

468,257

381,174

Trade creditors

162,361

24,836

Taxation and social security

109,383

99,473

Other creditors

26,674

66,265

776,675

581,748

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

4,167

14,167

Hire purchase contracts (see note 7)

607,822

417,706

611,989

431,873

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

468,257

381,174

Between one and five years

607,822

417,706

1,076,079

798,880

Non-cancellable

operating leases

2025

2024

£

£

Within one year

45,393

52,393

Between one and five years

14,110

29,503

59,503

81,896

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

14,167

24,167

Hire purchase contracts

1,076,079

798,880

1,090,246

823,047

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

J Leeney

Balance outstanding at start of year

15,556

11,389

Amounts advanced

12,635

22,117

Amounts repaid

(25,054

)

(17,950

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,137

15,556