11 30/04/2023 2023-04-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-05-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06871852 2022-05-01 2023-04-30 06871852 2023-04-30 06871852 2022-04-30 06871852 2021-05-01 2022-04-30 06871852 2022-04-30 06871852 core:PlantMachinery 2022-05-01 2023-04-30 06871852 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 06871852 core:MotorVehicles 2022-05-01 2023-04-30 06871852 bus:RegisteredOffice 2022-05-01 2023-04-30 06871852 bus:LeadAgentIfApplicable 2022-05-01 2023-04-30 06871852 bus:Director1 2022-05-01 2023-04-30 06871852 bus:Director2 2022-05-01 2023-04-30 06871852 bus:Director3 2022-05-01 2023-04-30 06871852 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-30 06871852 core:PlantMachinery 2022-04-30 06871852 core:FurnitureFittingsToolsEquipment 2022-04-30 06871852 core:MotorVehicles 2022-04-30 06871852 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 06871852 core:PlantMachinery 2023-04-30 06871852 core:FurnitureFittingsToolsEquipment 2023-04-30 06871852 core:MotorVehicles 2023-04-30 06871852 core:WithinOneYear 2023-04-30 06871852 core:WithinOneYear 2022-04-30 06871852 core:AfterOneYear 2023-04-30 06871852 core:ShareCapital 2023-04-30 06871852 core:ShareCapital 2022-04-30 06871852 core:RetainedEarningsAccumulatedLosses 2023-04-30 06871852 core:RetainedEarningsAccumulatedLosses 2022-04-30 06871852 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-30 06871852 core:PlantMachinery 2022-04-30 06871852 core:FurnitureFittingsToolsEquipment 2022-04-30 06871852 core:MotorVehicles 2022-04-30 06871852 bus:Director1 2022-04-30 06871852 bus:Director1 2023-04-30 06871852 bus:Director1 2021-04-30 06871852 bus:Director1 2022-04-30 06871852 bus:Director1 2021-05-01 2022-04-30 06871852 bus:SmallEntities 2022-05-01 2023-04-30 06871852 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 06871852 bus:FullAccounts 2022-05-01 2023-04-30 06871852 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 06871852 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 06871852 core:WithinOneYear 2022-05-01 2023-04-30 06871852 core:AfterOneYear 2022-05-01 2023-04-30 06871852 1 2022-05-01 2023-04-30
Company registration number: 06871852
Tag Tool Hire Limited
Unaudited filleted financial statements
30 April 2023
Tag Tool Hire Limited
Directors and other information
Directors Mr A Pilkington
Mr A Brownridge
Mr G A Jagger
Company number 06871852
Registered office Unit 2-3
Victoria Business Park
Lightowler Road
Halifax
HX1 5ND
Accountants Hodgson Hey Limited
Heritage Exchange
South Lane
Elland
HX5 0HG
Bankers Handlesbanken Plc
Ground Floor Fearnley Mill
Dean Clough Mills
Old Lane
Halifax
HX3 5WP
Tag Tool Hire Limited
Statement of financial position
30 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 619,047 551,110
_______ _______
619,047 551,110
Current assets
Stocks 47,500 45,000
Debtors 6 192,423 136,435
Cash at bank and in hand 152,089 181,282
_______ _______
392,012 362,717
Creditors: amounts falling due
within one year 7 ( 278,650) ( 310,636)
_______ _______
Net current assets 113,362 52,081
_______ _______
Total assets less current liabilities 732,409 603,191
Creditors: amounts falling due
after more than one year 8 ( 46,636) -
Provisions for liabilities ( 67,581) ( 54,673)
_______ _______
Net assets 618,192 548,518
_______ _______
Capital and reserves
Called up share capital 200 200
Profit and loss account 617,992 548,318
_______ _______
Shareholders funds 618,192 548,518
_______ _______
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 September 2023 , and are signed on behalf of the board by:
Mr A Pilkington Mr A Brownridge
Director Director
Company registration number: 06871852
Tag Tool Hire Limited
Notes to the financial statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tag Tool Hire Ltd, Unit 2-3, Victoria Business Park, Lightowler Road, Halifax, HX1 5ND.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % on cost
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 12 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 May 2022 263,360 600,365 7,073 28,971 899,769
Additions - 188,208 - - 188,208
Disposals - ( 111,119) - - ( 111,119)
_______ _______ _______ _______ _______
At 30 April 2023 263,360 677,454 7,073 28,971 976,858
_______ _______ _______ _______ _______
Depreciation
At 1 May 2022 - 323,906 6,202 18,551 348,659
Charge for the year - 94,991 174 2,605 97,770
Disposals - ( 88,618) - - ( 88,618)
_______ _______ _______ _______ _______
At 30 April 2023 - 330,279 6,376 21,156 357,811
_______ _______ _______ _______ _______
Carrying amount
At 30 April 2023 263,360 347,175 697 7,815 619,047
_______ _______ _______ _______ _______
At 30 April 2022 263,360 276,459 871 10,420 551,110
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 188,365 129,835
Other debtors 4,058 6,600
_______ _______
192,423 136,435
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 37,143 80,714
Trade creditors 97,001 71,333
Corporation tax 41,431 38,201
Social security and other taxes 32,488 27,673
Other creditors 70,587 92,715
_______ _______
278,650 310,636
_______ _______
Bank borrowings are secured against the assets of the company.
Other creditors include £48,511 (2022 £55,659) held under finance lease contracts which are secured on the assets to which they relate.
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 6,429 -
Other creditors 40,207 -
_______ _______
46,636 -
_______ _______
Bank borrowings are secured against the assets of the company.
Other creditors include £40,207 held under finance lease contracts which are secured on the assets to which they relate.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr A Pilkington ( 34,906) 17,450 - ( 17,456)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr A Pilkington ( 84,906) 111,000 ( 61,000) ( 34,906)
_______ _______ _______ _______
10. Controlling party
The company was controlled throughout the year by the directors who own 100% of the issued share capital.