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Registration number: 04361822

Beaver Tool Hire Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2023

 

Beaver Tool Hire Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Beaver Tool Hire Limited

Company Information

Directors

Ms Catherine Snoddy

Mr Robert Jones

Registered office

C/O Gross Klein
5 St. John's Lane
London
EC1M 4BH

Accountants

Gross Klein
5 St. John's Lane
London
EC1M 4BH

 

Beaver Tool Hire Limited

(Registration number: 04361822)
Abridged Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

213,676

211,649

Current assets

 

Stocks

7

5,506

6,713

Debtors

8

76,354

89,742

Cash at bank and in hand

 

309,943

274,998

 

391,803

371,453

Prepayments and accrued income

 

17,229

15,974

Creditors: Amounts falling due within one year

(103,593)

(90,159)

Net current assets

 

305,439

297,268

Total assets less current liabilities

 

519,115

508,917

Creditors: Amounts falling due after more than one year

(38,060)

(27,108)

Provisions for liabilities

(40,599)

(40,213)

Accruals and deferred income

 

(27,069)

(18,932)

Net assets

 

413,387

422,664

Capital and reserves

 

Called up share capital

100

100

Retained earnings

413,287

422,564

Shareholders' funds

 

413,387

422,664

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 23 October 2023 and signed on its behalf by:
 

 

Beaver Tool Hire Limited

(Registration number: 04361822)
Abridged Balance Sheet as at 31 January 2023

.........................................
Ms Catherine Snoddy
Director

 

Beaver Tool Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/O Gross Klein
5 St. John's Lane
London
EC1M 4BH

These financial statements were authorised for issue by the Board on 23 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tax

Deferred tax is recognised in respect of all timing differences that have originated but not reveresed at the
balance sheet.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Fixtures and fittings

25% reducing balance basis

Motor vehicles

25% reducing balance basis

Computer equipment

33% reducing balance basis

 

Beaver Tool Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 20 years in equal instalments

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Leases

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and
loss account in the period in which they become payable in accordance with the rules of the scheme.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 11).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

71,225

70,551

Amortisation expense

-

40,400

 

Beaver Tool Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

5

Intangible assets

Total
£

Cost or valuation

At 1 February 2022

808,000

At 31 January 2023

808,000

Amortisation

At 1 February 2022

808,000

At 31 January 2023

808,000

Carrying amount

At 31 January 2023

-

6

tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2022

4,551

676,575

70,839

751,965

Additions

-

78,912

-

78,912

Disposals

-

(67,767)

-

(67,767)

At 31 January 2023

4,551

687,720

70,839

763,110

Depreciation

At 1 February 2022

3,914

478,845

57,557

540,316

Charge for the year

159

67,746

3,321

71,226

Eliminated on disposal

-

(62,108)

-

(62,108)

At 31 January 2023

4,073

484,483

60,878

549,434

Carrying amount

At 31 January 2023

478

203,237

9,961

213,676

At 31 January 2022

637

197,730

13,282

211,649

7

Stocks

2023
£

2022
£

Other inventories

5,506

6,713

 

Beaver Tool Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2023

8

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.