Neon Hire Services Limited - Accounts to registrar (filleted) - small 18.2
Neon Hire Services Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| FOR |
| NEON HIRE SERVICES LIMITED |
| NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| NEON HIRE SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Wellington House |
| 273-275 High Street |
| London Colney |
| St. Albans |
| Hertfordshire |
| AL2 1HA |
| NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835) |
| STATEMENT OF FINANCIAL POSITION |
| 31 JANUARY 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 JANUARY 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| 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 were signed on its behalf by: |
| NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 1. | STATUTORY INFORMATION |
| Neon Hire Services Limited is a |
| 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 |
| 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 |
| Plant and machinery etc | - |
| 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 have been enacted or |
| substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 February 2019 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 January 2020 |
| DEPRECIATION |
| At 1 February 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 January 2020 |
| NET BOOK VALUE |
| At 31 January 2020 |
| At 31 January 2019 |
| NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as |
| follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 January 2020 |
| DEPRECIATION |
| At 1 February 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 January 2020 |
| NET BOOK VALUE |
| At 31 January 2020 |
| At 31 January 2019 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts and finance leases (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| The year end trade creditors balance of £634,072 includes amounts of £360,738 in respects of asset purchases |
| in the year which have subsequently been paid off through hire purchase agreements. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts and finance leases (see note 8) |
| NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts | Finance leases |
| 2020 | 2019 | 2020 | 2019 |
| £ | £ | £ | £ |
| Gross obligations repayable: |
| Within one year |
| Between one and five years |
| Finance charges repayable: |
| Within one year |
| Between one and five years |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2020 | 2019 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts and finance leases | 3,225,037 | 3,811,086 |
| NEON HIRE SERVICES LIMITED (REGISTERED NUMBER: 06261835) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | 308,254 | 234,810 |
| Deferred |
| tax |
| £ |
| Balance at 1 February 2019 |
| Provided during year |
| Balance at 31 January 2020 |
| 11. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £195,000 (2019 - £241,168) were paid to the directors . |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is board of directors. |