REGISTERED NUMBER: 01038997 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Newman Hire Co. Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Chandar

M Shaw

SECRETARY:

R Chandar

REGISTERED OFFICE:

Aubrey Newman House

Unit E, Crosspoint Distribution Park

Swallowfield Way

Hayes

Middlesex

UB3 1DQ

REGISTERED NUMBER:

01038997 (England and Wales)

ACCOUNTANTS:

Brackman Chopra LLP

Chartered Accountants

8 Hampstead Gate

1 A Frognal

Hampstead

London

NW3 6AL

FIXED ASSETS

Tangible assets

4

5,409,534

5,423,188

CURRENT ASSETS

Debtors

381,252

266,426

Cash at bank

8,971

17,643

390,223

284,069

CREDITORS

Amounts falling due within one year

1,297,679

1,367,968

NET CURRENT LIABILITIES

(907,456

)

(1,083,899

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,502,078

4,339,289

CREDITORS

Amounts falling due after more than one year

5

1,783,009

1,778,965

NET ASSETS

2,719,069

2,560,324

CAPITAL AND RESERVES

Called up share capital

250,000

250,000

Retained earnings

2,469,069

2,310,324

SHAREHOLDERS' FUNDS

2,719,069

2,560,324

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 November 2025 and were signed on its behalf by:

R Chandar - Director

M Shaw - Director

1.	STATUTORY INFORMATION

Newman Hire Co. Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% Straight Line

Included in plant & machinery are goods for hire. Although it is a departure from the Companies Act depreciation policy these goods have not been depreciated, as in the opinion of the directors the realisable value of the assets are higher than cost.

Land & buildings consists of an owner occupied property which has been capitalised at cost. This has not been depreciated, as in the opinion of the directors the realisable value of the property is higher than cost.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial assets

Basic financial assets, including trade and other receivables and cash & bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Financial liabilities

Basic financial liabilities, including trade and other payable, bank loans, loans from connected individuals are initially recognised at transaction price and subsequently measured at amortised cost.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are initially recognised at transaction price and subsequently measured at amortised cost.

Derecognition of financial assets and liabilities

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

6,127,294

Additions

23,192

At 31 March 2025

6,150,486

DEPRECIATION

At 1 April 2024

704,106

Charge for year

36,846

At 31 March 2025

740,952

NET BOOK VALUE

At 31 March 2025

5,409,534

At 31 March 2024

5,423,188

A fixed charge is held in favour of Barclays Plc dated 4 December 2015, over the property Unit 5, Dawley distribution Park, Swallowfield Way, Hayes.

A floating charge is held in favour of Barclays Plc dated 16 April 2013, over all the uncharged assets of the company.

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

Totals

£

COST

At 1 April 2024

and 31 March 2025

85,690

DEPRECIATION

At 1 April 2024

42,845

Charge for year

21,423

At 31 March 2025

64,268

NET BOOK VALUE

At 31 March 2025

21,422

At 31 March 2024

42,845

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans more 5 yr by instal

1,217,135

1,267,987

6.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

16,173

16,173

Between one and five years

10,782

26,954

26,955

43,127

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,698,289

1,799,166

The company has two Barclays bank loans as at 31 March 2025:-

Barclays bank loan repayable by 280 monthly instalments commencing on 1 September 2017. At a fixed interest rate of 4.160% pa for 5 year secured on the company's assets as detailed in note 5 above.

Barclays Coronavirus business interruption loan ("CBIL") repayable by 60 instalments commencing 4 July 2021 after 12 months repayment holiday. At a floating interest rate of 3.64% margin for 5 years. Guaranteed by UK Government under CBIL scheme.

8.	RELATED PARTY DISCLOSURES

Newman Hire Co. Ltd Pension Scheme

As at 31 March 2025 a loan in the sum of £155,500 (2024:£113,000) was payable to Newman Hire co. Ltd Pension Scheme. This was extended on 1 August 2023, in the sum of £237,500 repayable by 5 annual installments commencing 1 August 2024. Interest payable in arrears at fixed rate of 6% per annum . Interest paid £13,462 (£820).

As at 31March 2025 a loan in the sum of £121,383 was payable to Newman Hire Co. Ltd Pension Scheme. This was extended on 5 April 2024 repayable by 5 annual installments commencing 5 April 2025. Interest payable in arrears at fixed rate of 6.25% per annum . Interest paid £6,787.

History Made Simple Ltd

Associated Entity

As at 31 March 2025 the company was owed £42,745 (2024: £21,603) by it's connected company History Made Simple Ltd. This balance is interest free and repayable on demand.

Chilli Cheeze Hire Ltd

Associated Entity

As at 31 March 2025 the company owed/(was owed) £66,660 (2024: (£4,090)) to it's connected company Chilli Cheeze Hire Ltd. This balance is interest free and repayable on demand.

Nick Shaw

Related Party

As at 31 March 2025 Loans in the sum of £38,933 (2024: £64,141) were payable to Nick Shaw the husband of Erle Shaw.

A loan was provided to Newman Hire Co. Ltd on 31 March 2018 by Nick Shaw, in the sum of £125,000 with a 5 year term repayable on demand. Interest is payable 4.5% per annum. £25,208 (2024: £21,000) was repaid during the year.

A loan was provided to Newman Hire Co. Ltd on 28 February 2019 by Nick Shaw, in the sum of £35,000 with a 5 year term repayable on demand. Interest is payable 4.5% per annum.

Interest paid to Nick Shaw during the year was £2,208 (2024: £3,175).

Erle Shaw

Ultimate controlling party

As at 31 March 2025 Newman Hire Co. Ltd owed £208,440 (2024: £734,312) to Erle Shaw, 76% shareholder in the company. This is interest free and repayable on demand.

As at 31 March 2025 Erle Shaw (executor of Mr A A Newman), owed £72,671 (2024: £72,671) to Newman Hire Co. Ltd. This is interest free and repayable on demand. S455 Income tax paid and recoverable by the company in relation to this is £18,168 (2024: £18,168).

Max Shaw

Director

As at 31 March 2025 Newman Hire Co. Ltd owed £20,700 (2024: £27,080) to Max Shaw. 7% shareholder in the company. This is interest free and repayable on demand.

Associated Entities

During the year Newman Hire Co. Ltd. entered into transactions under normal commercial terms with Blind Pass LLP, Chilli Cheeze Hire Ltd and History Made Simple Ltd..

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Erle Shaw by virtue of her 76% ownership in the issued share capital of Newman Hire Co.Ltd.

10.	PENSION COSTS

The company operates a defined contribution pension schemes for its employees the assets of which are held in a separate independently administered fund. Contributions paid during the year amounted to £8,837 (2024: £5,797).