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REGISTERED NUMBER: 01764822 (England and Wales)











Financial Statements

for the Year Ended 31 December 2023

for

Interhire Power Tool Services Limited

Interhire Power Tool Services Limited (Registered number: 01764822)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Interhire Power Tool Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J D Tatlow
D P Watson





REGISTERED OFFICE: Park Road
Ilkeston
Derbyshire
DE7 5DA





REGISTERED NUMBER: 01764822 (England and Wales)





ACCOUNTANTS: Mabe Allen LLP
Chartered Accountants
The Old Manse
29 St. Mary Street
Ilkeston
Derbyshire
DE7 8AB

Interhire Power Tool Services Limited (Registered number: 01764822)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 829

CURRENT ASSETS
Stocks 104,555 150,375
Debtors 5 142,429 156,354
Cash at bank and in hand 13,500 37,235
260,484 343,964
CREDITORS
Amounts falling due within one year 6 142,319 217,446
NET CURRENT ASSETS 118,165 126,518
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,165

127,347

CAPITAL AND RESERVES
Called up share capital 5,839 5,839
Retained earnings 112,326 121,508
118,165 127,347

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.

Interhire Power Tool Services Limited (Registered number: 01764822)

Balance Sheet - 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 25 September 2024 and were signed on its behalf by:





D P Watson - Director


Interhire Power Tool Services Limited (Registered number: 01764822)

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


1. STATUTORY INFORMATION

Interhire Power Tool Services 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.

Revenue from the sale of goods is recognised when goods are delivered and legal title has passed,

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 - 20% on cost and 10% on 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 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.

Interhire Power Tool Services Limited (Registered number: 01764822)

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 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 79,738
DEPRECIATION
At 1 January 2023 78,909
Charge for year 829
At 31 December 2023 79,738
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 829

Interhire Power Tool Services Limited (Registered number: 01764822)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 January 2023
and 31 December 2023 8,295
DEPRECIATION
At 1 January 2023 7,466
Charge for year 829
At 31 December 2023 8,295
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 829

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 45,029 58,954
Amounts owed by group undertakings 97,400 97,400
142,429 156,354

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 1,130
Trade creditors 124,289 195,941
Taxation and social security 15,119 17,807
Other creditors 2,911 2,568
142,319 217,446

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 1,130

Hire purchase contracts are secured on the specific assets to which they relate.