Northern Rib Hire Limited iXBRL

Northern Rib Hire Limited

Unaudited Financial Statements

for the financial year ended 31 March 2025

Northern Rib Hire Limited

Company Registration Number: 05770390

STATEMENT OF FINANCIAL POSITION

as at 31 March 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

1,430,554

1,469,695

─────────

Current Assets

Debtors

610,801

477,505

Cash at bank and in hand

7,118

5,263

─────────

617,919

482,768

─────────

Creditors: amounts falling due within one year

(604,085)

(408,756)

─────────

Net Current Assets

13,834

74,012

─────────

Total Assets less Current Liabilities

1,444,388

1,543,707

Creditors:

amounts falling due after more than one year

(162,935)

(145,723)

Provisions for liabilities

(256,709)

(254,018)

─────────

Net Assets

1,024,744

1,143,966

═════════

Capital and Reserves

Called up share capital

Retained earnings

1,024,742

1,143,964

─────────

Equity attributable to owners of the company

1,024,744

1,143,966

═════════

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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 5 December 2025 and signed on its behalf by



________________________________
M Bellis
Director

Northern Rib Hire Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2025

General Information

Northern Rib Hire Limited is a company limited by shares incorporated and registered in England. The registered number of the company is 05770390. The registered office of the company is 1-3-5 The Barracks, White Cross, Lancaster, Lancashire, LA1 4XQ. Manufacture of other transport equipment not elsewhere classified The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 March 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Goodwill

Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.

Tangible assets and depreciation

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in

order to write off the assets over their estimated useful lives:

Plant and machinery

15% reducing balance

Motor vehicles

20% reducing balance

Other tangible fixed assets

10% reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Leasing and hire purchases

Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including directors, during the financial year was 3, (2024 - 3).


4.	Intangible assets

		Goodwill	Total
		£	£
	Cost
	At 1 April 2024	27,000	27,000
		─────────	─────────

	At 31 March 2025	27,000	27,000
		─────────	─────────
	Amortisation

	At 31 March 2025	27,000	27,000
		─────────	─────────
	Net book value
	At 31 March 2025	-	-
		═════════	═════════


5.	Tangible assets
		Plant and	Motor	Other	Total
		machinery	vehicles	tangible
				fixed assets
		£	£	£	£
	Cost
	At 1 April 2024	62,427	320,974	2,402,974	2,786,375
	Additions	-	-	172,500	172,500
	Disposals	-	-	(31,878)	(31,878)
		─────────	─────────	─────────	─────────
	At 31 March 2025	62,427	320,974	2,543,596	2,926,997
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 April 2024	38,351	145,691	1,132,638	1,316,680
	Charge for the financial year	3,611	35,056	141,096	179,763
		─────────	─────────	─────────	─────────
	At 31 March 2025	41,962	180,747	1,273,734	1,496,443
		─────────	─────────	─────────	─────────
	Net book value
	At 31 March 2025	20,465	140,227	1,269,862	1,430,554
		═════════	═════════	═════════	═════════
	At 31 March 2024	24,076	175,283	1,270,336	1,469,695
		═════════	═════════	═════════	═════════


6.	Debtors	2025	2024
		£	£

	Trade debtors	500,601	422,483
	Amounts owed by related parties	90,831	55,022
	Taxation (Note 9)	19,369	-
		─────────	─────────
		610,801	477,505
		═════════	═════════


7.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Bank overdrafts	218,141	17,368
	Bank loan	12,500	-
	Net obligations under finance leases
	and hire purchase contracts	24,920	33,974
	Trade creditors	22,870	4,170
	Taxation (Note 9)	42,214	70,218
	Directors' current accounts	283,139	282,790
	Other creditors	301	236
		─────────	─────────
		604,085	408,756
		═════════	═════════


8.	Creditors	2025	2024
	Amounts falling due after more than one year	£	£

	Bank loan	37,500	-
	Finance leases and hire purchase contracts	25,435	45,723
	Directors' loan accounts	100,000	100,000
		─────────	─────────
		162,935	145,723
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 7)	230,641	17,368
	Repayable between one and two years	12,500	-
	Repayable between two and five years	25,000	-
		─────────	─────────
		268,141	17,368
		═════════	═════════


	Net obligations under finance leases
	and hire purchase contracts
	Repayable within one year	24,920	33,974
	Repayable between one and five years	25,435	45,723
		─────────	─────────
		50,355	79,697
		═════════	═════════


9.	Taxation	2025	2024
		£	£

	Debtors:
	Corporation tax	19,369	-
		═════════	═════════
	Creditors:
	VAT	41,966	42,709
	Corporation tax	-	26,684
	PAYE / NI	248	825
		─────────	─────────
		42,214	70,218
		═════════	═════════

10.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2025

2024

At financial year start

254,018

254,018

254,590

Charged to profit and loss

2,691

2,691

(572)

─────────

At financial year end

256,709

254,018

═════════