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REGISTERED NUMBER: 01895660 (England and Wales)















Financial Statements for the Year Ended 30 September 2023

for

Multi Hire (Power Tools) Limited

Multi Hire (Power Tools) Limited (Registered number: 01895660)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Multi Hire (Power Tools) Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: A J Harrison





REGISTERED OFFICE: Black Bear Bridge
Knutsford Road
Warrington
Cheshire
WA4 1HN





REGISTERED NUMBER: 01895660 (England and Wales)





ACCOUNTANTS: Cobham Murphy Limited
116 Duke Street
Liverpool
Merseyside
L1 5JW

Multi Hire (Power Tools) Limited (Registered number: 01895660)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 780,688 767,801

CURRENT ASSETS
Stocks 219,664 194,430
Debtors 5 648,347 565,735
Cash at bank and in hand 33,024 5,275
901,035 765,440
CREDITORS
Amounts falling due within one year 6 841,127 699,491
NET CURRENT ASSETS 59,908 65,949
TOTAL ASSETS LESS CURRENT
LIABILITIES

840,596

833,750

CREDITORS
Amounts falling due after more than one
year

7

(319,732

)

(373,464

)

PROVISIONS FOR LIABILITIES (142,562 ) (125,188 )
NET ASSETS 378,302 335,098

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 377,302 334,098
SHAREHOLDERS' FUNDS 378,302 335,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Multi Hire (Power Tools) Limited (Registered number: 01895660)

Balance Sheet - continued
30 September 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 director and authorised for issue on 13 February 2024 and were signed by:





A J Harrison - Director


Multi Hire (Power Tools) Limited (Registered number: 01895660)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Multi Hire (Power 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received for the hire of equipment excluding value added tax. Turnover is recognised in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% 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
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Taxation
Taxation for the year 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.


Multi Hire (Power Tools) Limited (Registered number: 01895660)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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 year 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 19 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 1,736,955
Additions 171,374
Disposals (2,490 )
At 30 September 2023 1,905,839
DEPRECIATION
At 1 October 2022 969,154
Charge for year 157,086
Eliminated on disposal (1,089 )
At 30 September 2023 1,125,151
NET BOOK VALUE
At 30 September 2023 780,688
At 30 September 2022 767,801

Multi Hire (Power Tools) Limited (Registered number: 01895660)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2022 596,958
Additions 146,637
Transfer to ownership (96,530 )
At 30 September 2023 647,065
DEPRECIATION
At 1 October 2022 194,248
Charge for year 88,035
Transfer to ownership (49,931 )
At 30 September 2023 232,352
NET BOOK VALUE
At 30 September 2023 414,713
At 30 September 2022 402,710

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 428,934 374,130
Amounts owed by group undertakings 151,521 125,604
Other debtors 67,892 66,001
648,347 565,735

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 339,322 263,403
Hire purchase contracts 172,888 145,701
Trade creditors 175,124 171,865
Taxation and social security 56,228 62,286
Other creditors 97,565 56,236
841,127 699,491

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 99,957 139,241
Hire purchase contracts 219,775 234,223
319,732 373,464

Multi Hire (Power Tools) Limited (Registered number: 01895660)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank overdrafts 259,822 221,403
Hire purchase contracts 392,663 379,924
Bank loans 147,457 136,861
799,942 738,188

9. RELATED PARTY DISCLOSURES

Included in debtors at the balance sheet date is £151,521 (2022 - £125,604) which is owed to Multi Hire Power Tools) Limited by it's parent company Wilkinson Weld Limited.

This loan is interest free and repayable on demand.