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REGISTERED NUMBER: 02867242 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Maple Tool Hire Limited

Maple Tool Hire Limited (Registered number: 02867242)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Maple Tool Hire Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: L A Humphries
Mrs P C Humphries
M J Humphries
A L Humphries





SECRETARY: Mrs P C Humphries





REGISTERED OFFICE: Unit 1 Washington Street
Dudley
West Midlands
DY2 9PH





REGISTERED NUMBER: 02867242 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Maple Tool Hire Limited (Registered number: 02867242)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 133,653 143,755

CURRENT ASSETS
Stocks 10,023 9,204
Debtors 5 154,349 191,304
Cash at bank and in hand 247,243 223,627
411,615 424,135
CREDITORS
Amounts falling due within one year 6 128,610 135,301
NET CURRENT ASSETS 283,005 288,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

416,658

432,589

CREDITORS
Amounts falling due after more than one
year

7

(37,710

)

(67,959

)

PROVISIONS FOR LIABILITIES 10 (3,810 ) (4,417 )
NET ASSETS 375,138 360,213

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 375,038 360,113
SHAREHOLDERS' FUNDS 375,138 360,213

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

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

Maple Tool Hire Limited (Registered number: 02867242)

Statement of Financial Position - continued
31 December 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 22 May 2024 and were signed on its behalf by:




L A Humphries - Director M J Humphries - Director




A L Humphries - Director Mrs P C Humphries - Director


Maple Tool Hire Limited (Registered number: 02867242)

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

1. STATUTORY INFORMATION

Maple 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.

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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Alarm System - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Maple Tool Hire Limited (Registered number: 02867242)

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

2. ACCOUNTING POLICIES - continued

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 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Alarm Plant and and
System machinery fittings
£    £    £   
COST
At 1 January 2023 8,876 456,312 15,805
Additions - 13,959 -
Disposals - - -
At 31 December 2023 8,876 470,271 15,805
DEPRECIATION
At 1 January 2023 7,381 375,787 15,696
Charge for year 374 23,627 27
Eliminated on disposal - - -
At 31 December 2023 7,755 399,414 15,723
NET BOOK VALUE
At 31 December 2023 1,121 70,857 82
At 31 December 2022 1,495 80,525 109

Maple Tool Hire Limited (Registered number: 02867242)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 104,710 65,309 651,012
Additions 30,895 - 44,854
Disposals (12,795 ) - (12,795 )
At 31 December 2023 122,810 65,309 683,071
DEPRECIATION
At 1 January 2023 51,969 56,424 507,257
Charge for year 23,309 2,221 49,558
Eliminated on disposal (7,397 ) - (7,397 )
At 31 December 2023 67,881 58,645 549,418
NET BOOK VALUE
At 31 December 2023 54,929 6,664 133,653
At 31 December 2022 52,741 8,885 143,755

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 61,000 104,710 165,710
Additions - 30,895 30,895
Disposals - (12,795 ) (12,795 )
Reclassification/transfer (12,500 ) (62,810 ) (75,310 )
At 31 December 2023 48,500 60,000 108,500
DEPRECIATION
At 1 January 2023 40,413 51,969 92,382
Charge for year 5,147 23,309 28,456
Eliminated on disposal - (7,397 ) (7,397 )
Reclassification/transfer (17,519 ) (37,881 ) (55,400 )
At 31 December 2023 28,041 30,000 58,041
NET BOOK VALUE
At 31 December 2023 20,459 30,000 50,459
At 31 December 2022 20,587 52,741 73,328

Maple Tool Hire Limited (Registered number: 02867242)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 152,375 189,877
Other debtors 1,974 1,427
154,349 191,304

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 20,248 27,001
Trade creditors 67,275 77,503
Taxation and social security 16,072 16,544
Other creditors 15,015 4,253
128,610 135,301

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,167 24,167
Hire purchase contracts (see note 8) 23,543 43,792
37,710 67,959

Maple Tool Hire Limited (Registered number: 02867242)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Gross obligations repayable:
Within one year 22,381 29,756
Between one and five years 26,957 49,338
49,338 79,094

Finance charges repayable:
Within one year 2,133 2,755
Between one and five years 3,414 5,546
5,547 8,301

Net obligations repayable:
Within one year 20,248 27,001
Between one and five years 23,543 43,792
43,791 70,793

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 4,350 5,800
Between one and five years - 4,350
4,350 10,150

9. SECURED DEBTS

Lloyds Bank Plc hold an unlimited debenture in the banks standard form dated 12 May 1995.

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 3,810 4,417

Deferred
tax
£   
Balance at 1 January 2023 4,417
Provided during year (607 )
Balance at 31 December 2023 3,810

Maple Tool Hire Limited (Registered number: 02867242)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

12. ULTIMATE CONTROLLING PARTY

The is no ultimate controlling party.