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REGISTERED NUMBER: 06007839 (England and Wales)























Unaudited Financial Statements

for the Year Ended 30 November 2021

for

Aitch Tools & Fastners Ltd

Aitch Tools & Fastners Ltd (Registered number: 06007839)

Contents of the Financial Statements
for the Year Ended 30 November 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aitch Tools & Fastners Ltd

Company Information
for the Year Ended 30 November 2021







DIRECTOR: Mr H S Nixon





SECRETARY: Mrs A D Nixon





REGISTERED OFFICE: 316 Blackpool Road
Fulwood
PRESTON
Lancashire
PR2 3AE





REGISTERED NUMBER: 06007839 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Aitch Tools & Fastners Ltd (Registered number: 06007839)

Balance Sheet
30 November 2021

30.11.21 30.11.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,326 27,089

CURRENT ASSETS
Stocks 67,500 67,500
Debtors 5 244,420 217,530
Cash at bank and in hand 195,906 143,121
507,826 428,151
CREDITORS
Amounts falling due within one year 6 213,089 160,742
NET CURRENT ASSETS 294,737 267,409
TOTAL ASSETS LESS CURRENT
LIABILITIES

345,063

294,498

CREDITORS
Amounts falling due after more than one
year

7

(35,000

)

(44,167

)

PROVISIONS FOR LIABILITIES (3,720 ) (5,147 )
NET ASSETS 306,343 245,184

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 306,243 245,084
306,343 245,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)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.

Aitch Tools & Fastners Ltd (Registered number: 06007839)

Balance Sheet - continued
30 November 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2022 and were signed by:





Mr H S Nixon - Director


Aitch Tools & Fastners Ltd (Registered number: 06007839)

Notes to the Financial Statements
for the Year Ended 30 November 2021


1. STATUTORY INFORMATION

Aitch Tools & Fastners Ltd is a private company, limited by shares , registered in England and Wales. The 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

COVID 19

The accounts have been prepared on a going concern basis as, although there are indicators of financial impact in relation to COVID-19, the director has taken what are considered all necessary measures to protect the business from this to limit any adverse impact.

The Director anticipates the company continuing to trade for the foreseeable future and are monitoring the situation.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

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 Statement of Income and Retained Earnings, 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.

Aitch Tools & Fastners Ltd (Registered number: 06007839)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2020 103,790
Additions 39,173
Disposals (24,003 )
At 30 November 2021 118,960
DEPRECIATION
At 1 December 2020 76,701
Charge for year 15,695
Eliminated on disposal (23,762 )
At 30 November 2021 68,634
NET BOOK VALUE
At 30 November 2021 50,326
At 30 November 2020 27,089

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.21 30.11.20
£    £   
Trade debtors 227,945 192,901
Other debtors 16,475 24,629
244,420 217,530

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.21 30.11.20
£    £   
Bank loans and overdrafts 10,000 5,833
Trade creditors 173,436 119,013
Taxation and social security 27,653 25,085
Other creditors 2,000 10,811
213,089 160,742

Aitch Tools & Fastners Ltd (Registered number: 06007839)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.21 30.11.20
£    £   
Bank loans 35,000 44,167

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.21 30.11.20
£    £   
Within one year 4,206 15,419
Between one and five years - 4,206
4,206 19,625

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.21 30.11.20
£    £   
Bank loans 45,000 50,000

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from Barclays Bank UK PLC in the year.

10. RELATED PARTY DISCLOSURES

At the year end, the director owed £6,682 (2020 : £9,247) to the company. This has since been repaid. The loan is secured and repayable on demand.