REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
Thomas Tool Hire Limited |
|
Financial Statements |
|
for the Year Ended 31 May 2020 |
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
Thomas Tool Hire Limited |
|
Financial Statements |
|
for the Year Ended 31 May 2020 |
|
|
|
|
|
Thomas Tool Hire Limited (Registered number: 01987807) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the year ended 31 May 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
Thomas Tool Hire Limited |
|
Company Information |
for the year ended 31 May 2020 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
AUDITORS: |
|
Statutory Auditors |
Chartered Accountants |
Irish Square |
Upper Denbigh Road |
St Asaph |
Denbighshire |
LL17 0RN |
Thomas Tool Hire Limited (Registered number: 01987807) |
|
Balance Sheet |
31 May 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 ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Capital redemption reserve |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
by: |
|
|
|
|
|
|
|
Thomas Tool Hire Limited (Registered number: 01987807) |
|
Notes to the Financial Statements |
for the year ended 31 May 2020 |
|
1. | STATUTORY INFORMATION |
|
Thomas Tool Hire 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 |
|
|
Going concern |
Within the financial year the World Health Organisation (WHO) declared Covid-19 as a worldwide pandemic. In |
relation to this the directors have reviewed the company's performance throughout the period and subsequent to |
the year end and, as a result believe that the preparation of the financial statements on the going concern basis |
is appropriate. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Turnover, derived from the principal activity, is calculated on the basis of the hire of machines during the period. |
|
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 balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet 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 |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Thomas Tool Hire Limited (Registered number: 01987807) |
|
Notes to the Financial Statements - continued |
for the year ended 31 May 2020 |
|
2. | ACCOUNTING POLICIES - continued |
|
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
|
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are |
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost. |
|
Provisions for liabilities |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a |
past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can |
be made of the amount of the obligation. |
|
The amount recognised as a provision is the best estimate of the consideration required to settle the present |
obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the |
obligation. |
|
Employee benefits |
Short term employee benefits and contributions to defined contribution plans are recognised as an expense in |
the period in which they are incurred. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 June 2019 |
|
Additions |
|
At 31 May 2020 |
|
DEPRECIATION |
At 1 June 2019 |
|
Charge for year |
|
At 31 May 2020 |
|
NET BOOK VALUE |
At 31 May 2020 |
|
At 31 May 2019 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
Thomas Tool Hire Limited (Registered number: 01987807) |
|
Notes to the Financial Statements - continued |
for the year ended 31 May 2020 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
|
|
|
7. | SECURED DEBTS |
|
The bank overdraft is secured by way of a cross guarantee and debenture between the group companies dated |
8 August 2014. |
|
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
9. | RELATED PARTY DISCLOSURES |
|
All related party transactions were under the normal course of business. |
|
10. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is Mr W L Thomas. |