0 25 February 2026 false false false false false false false false false false true false false false false true false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,277,568 479,820 1,757,388 93,232 86,126 179,358 1,578,030 1,184,336 xbrli:pure xbrli:shares iso4217:GBP 14208946 2024-01-01 2024-12-31 14208946 2024-12-31 14208946 2023-12-31 14208946 2023-01-01 2023-12-31 14208946 2023-12-31 14208946 2022-12-31 14208946 core:PlantMachinery 2024-01-01 2024-12-31 14208946 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 14208946 bus:Director1 2024-01-01 2024-12-31 14208946 core:WithinOneYear 2024-12-31 14208946 core:WithinOneYear 2023-12-31 14208946 core:PlantMachinery 2023-12-31 14208946 core:PlantMachinery 2024-12-31 14208946 core:AfterOneYear 2024-12-31 14208946 core:AfterOneYear 2023-12-31 14208946 core:ShareCapital 2024-12-31 14208946 core:ShareCapital 2023-12-31 14208946 core:RetainedEarningsAccumulatedLosses 2024-12-31 14208946 core:RetainedEarningsAccumulatedLosses 2023-12-31 14208946 core:AcceleratedTaxDepreciationDeferredTax 2024-12-31 14208946 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 14208946 core:TaxLossesCarry-forwardsDeferredTax 2024-12-31 14208946 core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 14208946 core:PlantMachinery 2023-12-31 14208946 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-12-31 14208946 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-12-31 14208946 bus:SmallEntities 2024-01-01 2024-12-31 14208946 bus:Audited 2024-01-01 2024-12-31 14208946 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 14208946 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14208946 bus:FullAccounts 2024-01-01 2024-12-31 14208946 bus:OrdinaryShareClass1 2024-12-31 14208946 bus:OrdinaryShareClass1 2023-12-31
COMPANY REGISTRATION NUMBER: 14208946

Sleep Space Hire Ltd

Filleted Financial Statements

31 December 2024

Sleep Space Hire Ltd

Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £

Fixed assets

Tangible assets | 5 | 1,578,030 | 1,184,336

Current assets

Debtors | 6 | 239,311 | 332,831
Cash at bank and in hand | 30,475 | 21,530
| --------- | ---------
| 269,786 | 354,361

Creditors: amounts falling due within one year | 7 | 1,583,626 | 1,037,811
| ------------ | ------------
Net current liabilities | 1,313,840 | 683,450
| ------------ | ------------
Total assets less current liabilities | 264,190 | 500,886

Creditors: amounts falling due after more than one year | 8 | 371,346 | 514,173
| --------- | ---------
Net liabilities | ( 107,156) | ( 13,287)
| --------- | ---------

Capital and reserves

Called up share capital | 10 | 100 | 100
Profit and loss account | ( 107,256) | ( 13,387)
| --------- | --------
Shareholders deficit | ( 107,156) | ( 13,287)
| --------- | --------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 20 February 2026 , and are signed on behalf of the board by:

Mr D Wharton |
Director |

Company registration number: 14208946

Sleep Space Hire Ltd

Notes to the Financial Statements

Year ended 31 December 2024
1. General information
The company is a private company limited by shares, incorporated and registered in England ( 14208946 ). The address of the registered office is B C S House, Pinfold Road, Bourne, England, PE10 9HT. The company commenced trading on 1 May 2023. The company's principal activity is plant hire, specifically the rental of sleep units.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, rounded the nearest £1. The financial statements relate to the individual entity. Management recharges Loc Hire Ltd, the parent company of Sleep Space Hire Ltd has recharged wages, directors remuneration and overheads. No employees are directly employed by Sleep Space Hire Ltd . Going concern The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the financial support of the parent company, Loc Hire Ltd. The directors of Loc Hire Ltd have confirmed their support and cashflow forecasts demonstrate that the company has adequate resources available with the continued support of group undertakings and group business partners to operate for the foreseeable future. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and bank in hand includes cash and short term highly liquid investments. Creditors Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The directors have made the following estimates in the process of applying the entity's accounting policies:- - Depreciation is estimated but monitored regularly. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 5% straight line

The period over which plant and machinery is written off was changed from 10 years to 20 years . Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Leases are classified as finance leases when the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the company. Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. The finance leases are for machinery which is rented for periods of up to 10 years. These are recognised as tangible fixed assets The lease agreements are for fixed lease payments and include a purchase option at the end of the lease term.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Tangible assets

| Plant and machinery
| £
Cost |
At 1 January 2024 | 1,277,568
Additions | 479,820
| ------------
At 31 December 2024 | 1,757,388
| ------------
Depreciation |
At 1 January 2024 | 93,232
Charge for the year | 86,126
| ------------
At 31 December 2024 | 179,358
| ------------
Carrying amount |
At 31 December 2024 | 1,578,030
| ------------
At 31 December 2023 | 1,184,336
| ------------

Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

| Plant and machinery
| £
At 31 December 2024 | 1,448,454
| ------------
At 31 December 2023 | 1,184,336
| ------------

6. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 28,688 | 146,100
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 200,354 | 182,264
Other debtors | 10,269 | 4,467
| --------- | ---------
| 239,311 | 332,831
| --------- | ---------

7. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Trade creditors | 9,392 | 8,456
Amounts owed to group undertakings | 786,404 | 305,868
Accruals and deferred income | 4,500 | 10,383
Social security and other taxes | – | 12,921
Obligations under finance leases and hire purchase contracts | 475,321 | 378,642
Other creditors | 308,009 | 321,541
| ------------ | ------------
| 1,583,626 | 1,037,811
| ------------ | ------------

|  | 2024 | 2023
|  | £ | £
| Secured creditors | 475,321 | 378,642
|  | --------- | ---------

Finance leases and hire purchase contracts are secured over the assets to which they relate.
Other creditors relate to a loan from a funder which is interest free and repayable on demand. However it is not anticipated that this loan will be called upon to be repaid within 12 months.
8. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Obligations under finance leases and hire purchase contracts | 371,346 | 514,173
| --------- | ---------

|  | 2024 | 2023
|  | £ | £
| Secured creditors | 371,346 | 514,173
|  | --------- | ---------

Finance leases and hire purchase contracts are secured over the assets to which they relate.
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| 2024 | 2023
| £ | £
Included in debtors (note 6) | – | 4,462
| ---- | -------

The deferred tax account consists of the tax effect of timing differences in respect of:

| 2024 | 2023
| £ | £
Accelerated capital allowances | 70,709 | 89,989
Unused tax losses | ( 70,709) | ( 94,451)
| -------- | --------
| – | (4,462)
| -------- | --------

10. Called up share capital
Issued, called up and fully paid

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £ 1 each | 100 | 100 | 100 | 100
| ---- | ---- | ---- | ----

11. Summary audit opinion
The auditor's report dated 25 February 2026 was unqualified .
The senior statutory auditor was Walter Paterson , for and on behalf of Sumer Auditco Limited .
12. Related party transactions
During the year the company entered into the following transactions with other group companies:

|  | Sales | Cost of sales | Wages recharged | Overheads recharged | Balance owed
|  | £ | £ | £ | £ | £
| Loc Hire Ltd | 34,520 | 187,707 | 124,686 | 12,872 | 786,404

The director Daniel Wharton is also a director of Eco Hire Ltd. During the year the company made sales of £4,765 to Eco Hire Ltd. At the year end the balance due by Eco Hire Ltd was nil.
13. Controlling party
The ultimate parent undertaking is Loc Hire Ltd (SC481475) a company registered in Scotland, 155-175 Glasgow Road, Longcroft, Bonnybridge, Scotland, FK4 1QY. Consolidated accounts for Loc Hire Ltd are available at www.gov.uk/government/organisations/companies-house