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Registered Number: 07760902
England and Wales

 

 

 


Abridged Accounts

for the period ended 31 December 2023

for

AVON TOOLS HIRE LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 5 476,041    629,961 
476,041    629,961 
Current assets      
Stocks 8,000    8,000 
Debtors 1,437,678    474,084 
Cash at bank and in hand 372,608    1,125,733 
1,818,286    1,607,817 
Creditors: amount falling due within one year (186,106)   (231,449)
Net current assets 1,632,180    1,376,368 
 
Total assets less current liabilities 2,108,221    2,006,329 
Creditors: amount falling due after more than one year (689)   (4,135)
Provisions for liabilities (118,481)   (117,949)
Net assets 1,989,051    1,884,245 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 1,988,951    1,884,145 
Shareholders' funds 1,989,051    1,884,245 
 


For the period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 14 August 2024 and were signed on its behalf by:


-------------------------------
Mr M Rousell
Director
1
General Information
Avon Tools Hire Limited is a private company, limited by shares, registered in England and Wales, registration number 07760902, registration address 60 Nuffield Road , Nuffield Industrial Estate, Dorset, United Kingdom, BH17 0RT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 20% Straight Line
Plant and Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 33% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 13 (2022 : 13).
3.

Financial Commitments, Guarantees and Contingencies

At the year end the company had the following commitments under operating leases:

Commitments under operating leases falling:   2023`
£
  2022
£
less than 1 years 35,000  35,000 
between 2 and 5 years 35,000  70,000 


4.

Intangible fixed assets

Cost Goodwill   Software License   Total
  £   £   £
At 01 October 2022 24,728    4,740    29,468 
Additions    
Disposals    
At 31 December 2023 24,728    4,740    29,468 
Amortisation
At 01 October 2022 24,728    4,740    29,468 
Charge for period    
On disposals    
At 31 December 2023 24,728    4,740    29,468 
Net book values
At 31 December 2023    
At 30 September 2022    


5.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £   £
At 01 October 2022 11,721    1,258,343    154,678    12,997    1,437,739 
Additions   69,224      894    70,118 
Disposals   (172,910)       (172,910)
At 31 December 2023 11,721    1,154,657    154,678    13,891    1,334,947 
Depreciation
At 01 October 2022 6,673    672,180    120,115    8,810    807,778 
Charge for period 2,930    154,001    10,261    1,960    169,152 
On disposals   (118,024)       (118,024)
At 31 December 2023 9,603    708,157    130,376    10,770    858,906 
Net book values
Closing balance as at 31 December 2023 2,118    446,500    24,302    3,121    476,041 
Opening balance as at 01 October 2022 5,048    586,163    34,563    4,187    629,961 


6.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Alliance Tool Hire Ltd(1,125,452)

On 1 December 2023, Alliance Tool Hire Ltd (Company no: 07442107) acquired 100% of the share holding of Avon Tools Hire Ltd.
2