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Unaudited Financial Statements |
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for the Year Ended 31 January 2019 |
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for |
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Hire Cruisers Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 January 2019 |
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for |
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Hire Cruisers Limited |
Hire Cruisers Limited (Registered number: 04807330) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2019 |
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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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Hire Cruisers Limited |
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Company Information |
for the Year Ended 31 January 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Suite 203, 2nd Floor |
China House |
401 Edgware Road |
London |
NW2 6GY |
Hire Cruisers Limited (Registered number: 04807330) |
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Balance Sheet |
31 January 2019 |
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31.1.19 | 31.1.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Non-distributable reserves |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
Hire Cruisers Limited (Registered number: 04807330) |
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Balance Sheet - continued |
31 January 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Hire Cruisers Limited (Registered number: 04807330) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2019 |
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1. | STATUTORY INFORMATION |
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Hire Cruisers Limited is a
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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 |
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, and in accordance with the accounting policies set out below. |
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Going concern |
At 31 January 2019, the balance sheet showed net current liabilities of £21,951 (2018 - £21,312), but net assets |
of £75,092 (2018 - £62,257). The directors have given an undertaking to financially support the company for at |
least 12 months from the date of signature on the balance sheet. The situation will be reviewed after this time. On |
this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebated. |
value added tax and other sales taxes. Turnover is recognised as the service is provided. |
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Tangible fixed assets |
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Tools | - |
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Boat improvs/maints | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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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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. |
Hire Cruisers Limited (Registered number: 04807330) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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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Provisions and accruals |
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and |
the amount can be reliably estimated. Provisions are not recognised for future operating losses. |
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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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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Boat | and |
Tools | improvs/maints | fittings |
£ | £ | £ |
COST |
At 1 February 2018 |
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Additions |
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At 31 January 2019 |
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DEPRECIATION |
At 1 February 2018 |
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Charge for year |
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At 31 January 2019 |
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NET BOOK VALUE |
At 31 January 2019 |
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At 31 January 2018 |
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Hire Cruisers Limited (Registered number: 04807330) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2019 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 February 2018 |
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Additions |
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At 31 January 2019 |
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DEPRECIATION |
At 1 February 2018 |
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Charge for year |
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At 31 January 2019 |
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NET BOOK VALUE |
At 31 January 2019 |
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At 31 January 2018 |
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In the opinion of the directors, the market value of the boat at 31 January 2019 is £63,094 on an open market |
basis. |
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Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Motor |
vehicles |
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COST |
At 1 February 2018 |
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Additions |
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At 31 January 2019 |
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DEPRECIATION |
At 1 February 2018 |
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Charge for year |
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At 31 January 2019 |
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NET BOOK VALUE |
At 31 January 2019 |
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At 31 January 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.19 | 31.1.18 |
£ | £ |
Other debtors |
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Hire Cruisers Limited (Registered number: 04807330) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.19 | 31.1.18 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Hire purchase | 8,440 | 2,900 |
Directors' current accounts | 370 | 369 |
Accruals |
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7. | PROVISIONS FOR LIABILITIES |
31.1.19 | 31.1.18 |
£ | £ |
Deferred tax | 4,061 | 5,027 |
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Deferred |
tax |
£ |
Balance at 1 February 2018 |
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Credit to Income Statement during year | ( |
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Balance at 31 January 2019 |
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