Company registration number 04117973 (England and Wales)
C T M HIRE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
C T M HIRE LIMITED
COMPANY INFORMATION
Director
Mr D Searle
Secretary
Mrs C M Searle
Company number
04117973
Registered office
Gautam House
1-3 Shenley Avenue
Ruislip Manor
Middlesex
United Kingdom
HA4 6BP
Accountants
Koshal Associates (Chartered Accountants)
Gautam House
1-3 Shenley Avenue
Ruislip Manor
Middlesex
United Kingdom
HA4 6BP
C T M HIRE LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 5
C T M HIRE LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF C T M HIRE LIMITED FOR THE YEAR ENDED 31 JANUARY 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C T M Hire Limited for the year ended 31 January 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that C T M Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C T M Hire Limited. You consider that C T M Hire Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of C T M Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Koshal Associates (Chartered Accountants)
9 October 2023
Gautam House
1-3 Shenley Avenue
Ruislip Manor
Middlesex
United Kingdom
HA4 6BP
C T M HIRE LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,167,319
899,417
Current assets
Stocks
19,540
59,333
Debtors
4
409,968
356,698
Cash at bank and in hand
412,654
465,477
842,162
881,508
Creditors: amounts falling due within one year
5
(214,969)
(283,662)
Net current assets
627,193
597,846
Total assets less current liabilities
1,794,512
1,497,263
Creditors: amounts falling due after more than one year
6
(23,347)
(41,477)
Net assets
1,771,165
1,455,786
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,771,065
1,455,686
Total equity
1,771,165
1,455,786
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 6 October 2023
Mr D Searle
Director
C T M HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
1
Accounting policies
Company information
C T M Hire Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gautam House, 1-3 Shenley Avenue, Ruislip Manor, Middlesex, United Kingdom, HA4 6BP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
C T M HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 February 2022
1,675,034
15,970
1,691,004
Additions
807,489
807,489
Disposals
(322,497)
(322,497)
At 31 January 2023
2,160,026
15,970
2,175,996
Depreciation and impairment
At 1 February 2022
776,816
14,771
791,587
Depreciation charged in the year
388,804
300
389,104
Eliminated in respect of disposals
(172,014)
(172,014)
At 31 January 2023
993,606
15,071
1,008,677
Carrying amount
At 31 January 2023
1,166,420
899
1,167,319
At 31 January 2022
898,218
1,199
899,417
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
156,161
157,747
Other debtors
253,807
198,951
409,968
356,698
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Hire Purchase
21,720
13,087
Trade creditors
149,783
148,767
Corporation tax
9,380
77,309
Other taxation and social security
14,511
25,395
Other creditors
8,625
9,104
Accruals and deferred income
950
214,969
283,662
C T M HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 5 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
23,347
33,141
Other creditors
8,336
23,347
41,477
7
Related party transactions
During the year the Company paid management fees of £85,000 (2022 - £28,200) to DSS Managements Ltd. Danny Searle is a director of both Companies.