Company Registration No. 04445888 (England and Wales)
Local Tool Hire Limited
Unaudited accounts
for the year ended 31 May 2023
Local Tool Hire Limited
Unaudited accounts
Contents
Local Tool Hire Limited
Company Information
for the year ended 31 May 2023
Director
Mr Mohamed Zino 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 2023
Tangible assets
269,706
310,141
Inventories
107,910
98,684
Cash at bank and in hand
46,431
103,969
Creditors: amounts falling due within one year
(208,622)
(215,602)
Net current assets
19,579
77,438
Total assets less current liabilities
289,285
387,579
Creditors: amounts falling due after more than one year
(148,646)
(229,227)
Net assets
140,639
158,352
Called up share capital
1,000
1,000
Profit and loss account
139,639
157,352
Shareholders' funds
140,639
158,352
For the year ending 31 May 2023 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 director acknowledges his 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 and authorised for issue on 27 February 2024 and were signed on its behalf by
Mr Mohamed Zino Zourdani
Director
Company Registration No. 04445888
Local Tool Hire Limited
Notes to the Accounts
for the year ended 31 May 2023
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
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2022
1,090,586
164,101
109,216
1,228
1,365,131
Additions
12,803
-
-
-
12,803
At 31 May 2023
1,103,389
164,101
109,216
1,228
1,377,934
At 1 June 2022
853,953
102,985
98,052
-
1,054,990
Charge for the year
41,048
10,111
1,674
405
53,238
At 31 May 2023
895,001
113,096
99,726
405
1,108,228
At 31 May 2023
208,388
51,005
9,490
823
269,706
At 31 May 2022
236,633
61,116
11,164
1,228
310,141
Local Tool Hire Limited
Notes to the Accounts
for the year ended 31 May 2023
Amounts falling due within one year
Trade debtors
17,147
37,911
Accrued income and prepayments
4,250
4,250
Other debtors
17,421
16,594
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
75,640
82,245
Obligations under finance leases and hire purchase contracts
12,818
20,220
Trade creditors
66,544
49,176
Taxes and social security
21,814
3,308
Loans from directors
31,806
55,093
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
112,500
162,500
Obligations under finance leases and hire purchase contracts
36,146
66,727
8
Average number of employees
During the year the average number of employees was 14 (2022: 19).