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REGISTERED NUMBER: 01839863 (England and Wales)















Financial Statements

for the Period 1 September 2021 to 28 February 2023

for

A & W Tool Hire Limited

A & W Tool Hire Limited (Registered number: 01839863)






Contents of the Financial Statements
for the Period 1 September 2021 to 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A & W Tool Hire Limited

Company Information
for the Period 1 September 2021 to 28 February 2023







DIRECTORS: R J Palmer
L Hallsworth
M Wilson





REGISTERED OFFICE: Carleton Business Park
Carleton New Road
Skipton
North Yorkshire
BD23 2DE





REGISTERED NUMBER: 01839863 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

A & W Tool Hire Limited (Registered number: 01839863)

Balance Sheet
28 February 2023

28.2.23 31.8.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 563,527 750,376

CURRENT ASSETS
Stocks 96,853 51,873
Debtors 5 1,255,989 745,819
Cash at bank and in hand 41,139 151,361
1,393,981 949,053
CREDITORS
Amounts falling due within one year 6 432,683 289,599
NET CURRENT ASSETS 961,298 659,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,524,825

1,409,830

CREDITORS
Amounts falling due after more than one
year

7

(199,968

)

(425,480

)

PROVISIONS FOR LIABILITIES (140,882 ) (136,397 )
NET ASSETS 1,183,975 847,953

CAPITAL AND RESERVES
Called up share capital 490 490
Capital redemption reserve 510 510
Retained earnings 1,182,975 846,953
1,183,975 847,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

A & W Tool Hire Limited (Registered number: 01839863)

Balance Sheet - continued
28 February 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:




R J Palmer - Director



L Hallsworth - Director


A & W Tool Hire Limited (Registered number: 01839863)

Notes to the Financial Statements
for the Period 1 September 2021 to 28 February 2023

1. STATUTORY INFORMATION

A & W Tool Hire Limited 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.

Turnover
Turnover represents income from sale of goods and from hire of plant and equipment. It 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.
Freehold property - straight line over 50 years
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit & loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

A & W Tool Hire Limited (Registered number: 01839863)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 28 February 2023

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 period was 16 (2021 - 16 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 September 2021 63,349 20,097 1,909,524
Additions - 15,075 199,853
Disposals (63,349 ) - (417,044 )
At 28 February 2023 - 35,172 1,692,333
DEPRECIATION
At 1 September 2021 30,073 20,097 1,256,651
Charge for period 317 1,545 262,296
Eliminated on disposal (30,390 ) - (359,319 )
At 28 February 2023 - 21,642 1,159,628
NET BOOK VALUE
At 28 February 2023 - 13,530 532,705
At 31 August 2021 33,276 - 652,873

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2021 94,557 187,120 2,274,647
Additions - - 214,928
Disposals - (58,561 ) (538,954 )
At 28 February 2023 94,557 128,559 1,950,621
DEPRECIATION
At 1 September 2021 91,857 125,593 1,524,271
Charge for period 1,969 38,974 305,101
Eliminated on disposal - (52,569 ) (442,278 )
At 28 February 2023 93,826 111,998 1,387,094
NET BOOK VALUE
At 28 February 2023 731 16,561 563,527
At 31 August 2021 2,700 61,527 750,376

A & W Tool Hire Limited (Registered number: 01839863)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 28 February 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 31.8.21
£    £   
Trade debtors 127,647 136,657
Amounts owed by group undertakings 1,078,947 -
Other debtors 49,395 609,162
1,255,989 745,819

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 31.8.21
£    £   
Bank loans and overdrafts 136,769 83,615
Hire purchase contracts (see note 8) 3,305 19,778
Trade creditors 96,333 26,738
Taxation and social security 149,520 138,585
Other creditors 46,756 20,883
432,683 289,599

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 31.8.21
£    £   
Bank loans 188,567 425,480
Hire purchase contracts (see note 8) 11,401 -
199,968 425,480

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 91,019

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
28.2.23 31.8.21
£    £   
Net obligations repayable:
Within one year 3,305 19,778
Between one and five years 11,401 -
14,706 19,778

A & W Tool Hire Limited (Registered number: 01839863)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 28 February 2023

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
28.2.23 31.8.21
£    £   
Within one year 45,473 52,580
Between one and five years 24,129 44,409
69,602 96,989

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 31.8.21
£    £   
Bank loans 258,244 509,095

Close Brothers Limited hold a fixed and floating charge over the property and undertakings of the company.

Neil Eric Bravery holds a fixed and floating charge over the assets of the company.