Company Registration No. 04445888 (England and Wales)
Local Tool Hire Limited
Unaudited accounts
for the year ended 31 May 2020
Local Tool Hire Limited
Unaudited accounts
Contents
Local Tool Hire Limited
Company Information
for the year ended 31 May 2020
Directors
Mr Mohamed Zourdani
Mr Hamid Zourdani
Company Number
04445888 (England and Wales)
Registered Office
180 Cricklewood Lane
London
NW2 2DX
Accountants
Peacock Accountants Limited
71-75 Shelton Street
Covent Garden
London
England
WC2H 9JQ
Local Tool Hire Limited
Statement of financial position
as at
31 May 2020
Tangible assets
311,593
376,334
Inventories
169,789
182,416
Cash at bank and in hand
82,481
-
Creditors: amounts falling due within one year
(334,376)
(347,783)
Net current liabilities
(24,776)
(98,343)
Total assets less current liabilities
286,817
277,991
Creditors: amounts falling due after more than one year
(161,548)
(168,378)
Net assets
125,269
109,613
Called up share capital
1,000
1,000
Profit and loss account
124,269
108,613
Shareholders' funds
125,269
109,613
For the year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2020 and were signed on its behalf by
Mr Mohamed Zourdani
Director
Company Registration No. 04445888
Local Tool Hire Limited
Notes to the Accounts
for the year ended 31 May 2020
Local Tool Hire Limited is a private company, limited by shares, registered in England and Wales, registration number 04445888. The registered office is 180 Cricklewood Lane, London, NW2 2DX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
15% Reducing balance
Fixtures & fittings
15% Reducing balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2019
1,008,707
122,756
107,718
1,239,181
Additions
10,813
-
1,285
12,098
At 31 May 2020
1,019,520
122,756
109,003
1,251,279
At 1 June 2019
695,615
75,889
91,343
862,847
Charge for the year
62,618
11,717
2,504
76,839
At 31 May 2020
758,233
87,606
93,847
939,686
At 31 May 2020
261,287
35,150
15,156
311,593
At 31 May 2019
313,092
46,867
16,375
376,334
Raw materials
169,789
182,416
Local Tool Hire Limited
Notes to the Accounts
for the year ended 31 May 2020
Trade debtors
51,630
62,774
Accrued income and prepayments
4,250
4,250
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
38,919
59,136
Obligations under finance leases and hire purchase contracts
67,435
76,589
Trade creditors
93,457
112,000
Taxes and social security
17,228
23,800
Loans from directors
117,337
70,001
8
Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
64,178
112,391
9
Average number of employees
During the year the average number of employees was 18 (2019: 15).