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REGISTERED NUMBER: 01979172 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Terrier Tools Limited

Terrier Tools Limited (Registered number: 01979172)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Terrier Tools Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: P D Fletcher
S Hughes





REGISTERED OFFICE: Unit 5 The Apex Centre
Clywedog Road South
Wrexham Industrial Estate
Wrexham
Denbighshire
LL13 9XS





REGISTERED NUMBER: 01979172 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Terrier Tools Limited (Registered number: 01979172)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 367,644 399,815
Investments 6 10 10
367,654 399,825

CURRENT ASSETS
Stocks 520,860 489,750
Debtors 7 277,867 304,173
Cash at bank and in hand 10,293 78,049
809,020 871,972
CREDITORS
Amounts falling due within one year 8 563,731 647,177
NET CURRENT ASSETS 245,289 224,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

612,943

624,620

CREDITORS
Amounts falling due after more than one
year

9

(164,943

)

(158,364

)

PROVISIONS FOR LIABILITIES (17,796 ) (16,474 )
NET ASSETS 430,204 449,782

CAPITAL AND RESERVES
Called up share capital 11 50,000 50,000
Retained earnings 380,204 399,782
SHAREHOLDERS' FUNDS 430,204 449,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Terrier Tools Limited (Registered number: 01979172)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by:





P D Fletcher - Director


Terrier Tools Limited (Registered number: 01979172)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Terrier Tools 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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 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 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.

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 12 (2022 - 12 ) .

Terrier Tools Limited (Registered number: 01979172)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 6,500
AMORTISATION
At 1 June 2022
and 31 May 2023 6,500
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2022 273,980 282,869 48,097 604,946
Additions - 10,316 - 10,316
At 31 May 2023 273,980 293,185 48,097 615,262
DEPRECIATION
At 1 June 2022 - 172,987 32,144 205,131
Charge for year - 38,499 3,988 42,487
At 31 May 2023 - 211,486 36,132 247,618
NET BOOK VALUE
At 31 May 2023 273,980 81,699 11,965 367,644
At 31 May 2022 273,980 109,882 15,953 399,815

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2022
and 31 May 2023 10
NET BOOK VALUE
At 31 May 2023 10
At 31 May 2022 10

Terrier Tools Limited (Registered number: 01979172)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 239,306 199,696
Other debtors 38,561 104,477
277,867 304,173

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 57,214 42,094
Hire purchase contracts - 3,527
Trade creditors 367,916 483,093
Taxation and social security 50,358 42,641
Other creditors 88,243 75,822
563,731 647,177

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 22,683 -
Other creditors 142,260 158,364
164,943 158,364

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 110,051 -

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Mortgage 142,260 158,364

Bank loans are secured upon the freehold property known as Unit 5 The Apex Centre Clywedog Road Wrexham Industrial Estate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
50,000 Ordinary £1 50,000 50,000