Neon Hire Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06261835 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2018

FOR

NEON HIRE SERVICES LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

R Maisey

N P Lane

SECRETARY:

R Maisey

REGISTERED OFFICE:

Unit 27

Icknield Way Farm

Tring Road

Dunstable

Bedfordshire

LU6 2JX

REGISTERED NUMBER:

06261835 (England and Wales)

ACCOUNTANTS:

Novitt Harris & Co Limited

Chartered Accountants

273-275 High Street

London Colney

St Albans

Hertfordshire

AL2 1HA

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Neon Hire Services Limited for the year ended 31 January 2018 which comprise the Abridged

Income Statement, Abridged Statement of Financial Position and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Neon Hire Services Limited, as a body, in accordance with the terms of our engagement letter dated 28 July 2009. Our work has been undertaken solely to prepare for your approval the financial statements of Neon Hire Services Limited and state those matters that we have agreed to state to the Board of Directors of Neon Hire Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Neon Hire Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Neon Hire Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Neon Hire Services Limited. You consider that Neon Hire Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Neon Hire Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Novitt Harris & Co Limited

Chartered Accountants

273-275 High Street

London Colney

St Albans

Hertfordshire

AL2 1HA

22 October 2018

FIXED ASSETS

Tangible assets

4

4,056,013

3,187,414

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

931,778

748,803

Cash at bank and in hand

361,792

325,751

1,298,570

1,079,554

CREDITORS

Amounts falling due within one year

1,908,428

1,890,971

NET CURRENT LIABILITIES

(609,858

)

(811,417

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,446,155

2,375,997

CREDITORS

Amounts falling due after more than one year

(2,176,435

)

(1,360,008

)

PROVISIONS FOR LIABILITIES

(237,225

)

(226,780

)

NET ASSETS

1,032,495

789,209

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,032,395

789,109

SHAREHOLDERS' FUNDS

1,032,495

789,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 January 2018 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 on 22 October 2018 and were signed on its behalf by:

N P Lane - Director

R Maisey - Director

1.	STATUTORY INFORMATION

Neon Hire Services Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Plant and machinery etc

-

33% on cost, 20% on cost and 20% on reducing balance

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.

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 31 (2017 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2017

4,562,767

Additions

1,750,443

Disposals

(174,886

)

At 31 January 2018

6,138,324

DEPRECIATION

At 1 February 2017

1,375,353

Charge for year

831,007

Eliminated on disposal

(124,049

)

At 31 January 2018

2,082,311

NET BOOK VALUE

At 31 January 2018

4,056,013

At 31 January 2017

3,187,414

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as

follows:

Totals

£

COST

At 1 February 2017

4,385,556

Additions

1,693,553

Disposals

(170,511

)

At 31 January 2018

5,908,598

DEPRECIATION

At 1 February 2017

1,327,821

Charge for year

804,736

Eliminated on disposal

(121,117

)

At 31 January 2018

2,011,440

NET BOOK VALUE

At 31 January 2018

3,897,158

At 31 January 2017

3,057,735

5.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.18

31.1.17

£

£

Hire purchase contracts and finance leases

3,122,941

2,232,931

6.	RELATED PARTY DISCLOSURES

During the year, total dividends of £212,500 were paid to the directors .

7.	ULTIMATE CONTROLLING PARTY

The controlling party is board of directors.