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REGISTERED NUMBER: 02884925 (England and Wales)















TOOLMONKEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






TOOLMONKEY LIMITED (REGISTERED NUMBER: 02884925)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TOOLMONKEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: D Neaves





SECRETARY: Ms G A Neaves





REGISTERED OFFICE: Unit 9
Clipstone Brook Industrial Estate
Cherrycourt Way
Leighton Buzzard
Bedfordshire
LU7 4GP





REGISTERED NUMBER: 02884925 (England and Wales)





ACCOUNTANTS: Higginson & Co (UK) Ltd
3 Kensworth Gate
200 - 204 High Street South
Dunstable
Bedfordshire
LU6 3HS

TOOLMONKEY LIMITED (REGISTERED NUMBER: 02884925)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 124,827 157,519
Investments 5 1,250 1,250
126,077 158,769

CURRENT ASSETS
Stocks 1,244,223 953,960
Debtors 6 274,099 369,116
Cash at bank 337,763 273,273
1,856,085 1,596,349
CREDITORS
Amounts falling due within one year 7 1,116,231 881,378
NET CURRENT ASSETS 739,854 714,971
TOTAL ASSETS LESS CURRENT
LIABILITIES

865,931

873,740

CREDITORS
Amounts falling due after more than one
year

8

(12,940

)

(22,994

)

PROVISIONS FOR LIABILITIES 9 (30,245 ) (38,206 )
NET ASSETS 822,746 812,540

CAPITAL AND RESERVES
Called up share capital 10 230 230
Retained earnings 822,516 812,310
SHAREHOLDERS' FUNDS 822,746 812,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

TOOLMONKEY LIMITED (REGISTERED NUMBER: 02884925)

BALANCE SHEET - continued
31 JANUARY 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 September 2024 and were signed by:





D Neaves - Director


TOOLMONKEY LIMITED (REGISTERED NUMBER: 02884925)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Toolmonkey 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 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 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.

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.

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

TOOLMONKEY LIMITED (REGISTERED NUMBER: 02884925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


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 year was 14 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 February 2023 284,715 15,740 205,812 506,267
Additions - - 7,184 7,184
At 31 January 2024 284,715 15,740 212,996 513,451
DEPRECIATION
At 1 February 2023 154,746 15,224 178,778 348,748
Charge for year 31,192 129 8,555 39,876
At 31 January 2024 185,938 15,353 187,333 388,624
NET BOOK VALUE
At 31 January 2024 98,777 387 25,663 124,827
At 31 January 2023 129,969 516 27,034 157,519

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 1,250
NET BOOK VALUE
At 31 January 2024 1,250
At 31 January 2023 1,250

TOOLMONKEY LIMITED (REGISTERED NUMBER: 02884925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 74,562 85,421
Other debtors 199,537 283,695
274,099 369,116

.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 360,393 340,817
Trade creditors 697,763 454,102
Other creditors 12,701 10,365
Corporation tax 19,985 57,806
Social security and other taxes 17,760 7,291
Directors' current accounts 739 825
Accrued expenses 6,890 10,172
1,116,231 881,378

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 10,653 10,393
Bank loans - 2-5 years 2,287 12,601
12,940 22,994

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 30,245 38,206

Deferred
tax
£   
Balance at 1 February 2023 38,206
Credit to Income Statement during year (7,961 )
Accelerated capital allowances
Balance at 31 January 2024 30,245

TOOLMONKEY LIMITED (REGISTERED NUMBER: 02884925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100
100 Ordinary A £1 100 100
30 B Ordinary £1 30 30
230 230