Company Registration No. 04445888 (England and Wales)
Local Tool Hire Limited
Unaudited accounts
for the year ended 31 May 2018
Local Tool Hire Limited
Unaudited accounts
Contents
Local Tool Hire Limited
Company Information
for the year ended 31 May 2018
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
214B The Big Peg
120 Vyse Street, Jewellery Quarter
Birmingham
England
B18 6NF
Local Tool Hire Limited
Statement of financial position
as at
31 May 2018
Tangible assets
421,105
386,445
Inventories
183,916
157,347
Cash at bank and in hand
1,231
90,206
Creditors: amounts falling due within one year
(346,088)
(435,256)
Net current liabilities
(110,989)
(74,712)
Total assets less current liabilities
310,116
311,733
Creditors: amounts falling due after more than one year
(201,866)
(180,468)
Net assets
108,250
131,265
Share premium
1,000
1,000
Profit and loss account
107,250
130,265
Shareholders' funds
108,250
131,265
For the year ending 31 May 2018 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.
Approved by the Board on 8 March 2019.
Mr Mohamed Zourdani
Director
Company Registration No. 04445888
Local Tool Hire Limited
Notes to the Accounts
for the year ended 31 May 2018
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.
These financial statements for the year ended 31 May 2018 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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
Local Tool Hire Limited
Notes to the Accounts
for the year ended 31 May 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2017
842,115
122,756
107,718
1,072,589
Additions
124,980
-
-
124,980
At 31 May 2018
967,095
122,756
107,718
1,197,569
At 1 June 2017
561,655
39,436
85,053
686,144
Charge for the year
66,090
20,830
3,400
90,320
At 31 May 2018
627,745
60,266
88,453
776,464
At 31 May 2018
339,350
62,490
19,265
421,105
At 31 May 2017
280,460
83,320
22,665
386,445
Raw materials
183,916
157,347
Trade debtors
37,353
107,161
Accrued income and prepayments
4,250
4,250
Other debtors
8,349
1,580
7
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
72,919
35,197
Obligations under finance leases and hire purchase contracts
55,437
46,818
Trade creditors
99,623
181,363
Taxes and social security
5,124
21,474
Other creditors
20,551
69,422
Loans from directors
92,434
80,982
8
Creditors: amounts falling due after more than one year
2018
2017
Bank loans
101,899
106,290
Obligations under finance leases and hire purchase contracts
99,967
74,178
Local Tool Hire Limited
Notes to the Accounts
for the year ended 31 May 2018
9
Average number of employees
During the year the average number of employees was 4 (2017: 4).