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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018 |
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WHC HIRE SERVICES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2018 |
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FOR |
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WHC HIRE SERVICES LIMITED |
WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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WHC HIRE SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
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BALANCE SHEET |
30 APRIL 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
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BALANCE SHEET - continued |
30 APRIL 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
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1. | STATUTORY INFORMATION |
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WHC Hire Services Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about WHC Hire Services Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The company |
is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare |
consolidated financial statements. |
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Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales made during the year |
and derives from the provision of goods falling within the company's ordinary activities. Revenue is |
recognised with a deposit on hire and then balance on completion of hire, on completion of test and on |
delivery of goods. |
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The total turnover of the company for the year has been derived from its principle activity wholly |
undertaken in the UK. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Financial instruments |
Financial Instruments are classified by the directors as basic or advanced following the conditions in |
FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective |
interest method. |
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WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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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. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
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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. |
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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. |
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Going concern |
The director has considered the risks and issues concerning the company and it's activities and no |
material uncertainties that may cast significant doubt about the company's ability of the company to |
continue as a going concern have been identified by the directors. |
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Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event |
prior to the balance sheet date and that a payment will be required in settlement that can be estimated |
reliably. Where material, provisions are calculated on a discounted basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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AMORTISATION |
At 1 May 2017 |
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Charge for year |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 May 2017 |
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Additions |
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Disposals |
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( |
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At 30 April 2018 |
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DEPRECIATION |
At 1 May 2017 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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The net book value of tangible fixed assets includes £ 3,811,684 (2017 - £ 3,158,168 ) in respect of |
assets held under hire purchase contracts. |
WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1 May 2017 |
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Additions |
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Revaluations | ( |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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Cost or valuation at 30 April 2018 is represented by: |
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Shares in |
group |
undertakings |
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Cost | 569,975 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Hire purchase contracts |
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Trade creditors |
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Corporation Tax |
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Social security and other taxes |
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VAT |
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Wages and salaries control | 1,255 | - |
Factored debt |
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Pension Control |
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Directors' loan accounts |
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Accrued expenses |
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WHC HIRE SERVICES LIMITED (REGISTERED NUMBER: 03322262) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2018 |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans - 1-5 years |
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Bank loans - greater than 5 |
years |
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Other loans - 1-2 years |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans - greater than 5 |
years | 921,897 | 1,024,354 |
921,897 | 1,024,354 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loans |
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Hire purchase contracts | 2,613,728 | 2,540,449 |
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The Bank Loans are secured against the properties Alexandra Way, Tewkesbury and Bath Road, |
Worcester, whilst the Hire Purchase is secured against the equipment to which it relates. |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 April 2018 and |
30 April 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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No interest is being charged on the loan to Mr J Clutterbuck and there are no set repayment terms. |