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Registered number: 06871852
Tag Tool Hire Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06871852
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 401,048 619,047
401,048 619,047
CURRENT ASSETS
Stocks 5 48,000 47,500
Debtors 6 480,495 192,423
Cash at bank and in hand 83,576 152,089
612,071 392,012
Creditors: Amounts Falling Due Within One Year 7 (251,985 ) (278,650 )
NET CURRENT ASSETS (LIABILITIES) 360,086 113,362
TOTAL ASSETS LESS CURRENT LIABILITIES 761,134 732,409
Creditors: Amounts Falling Due After More Than One Year 8 (30,593 ) (46,636 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (77,039 ) (67,581 )
NET ASSETS 653,502 618,192
CAPITAL AND RESERVES
Called up share capital 9 100 200
Capital redemption reserve 100 -
Profit and Loss Account 653,302 617,992
SHAREHOLDERS' FUNDS 653,502 618,192
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Brownridge
Director
4th September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tag Tool Hire Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06871852 . The registered office is Units 2-3 Victoria Business Park, Lightowler Road, Halifax, West Yorkshire, HX1 5ND.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and hire of equipment, net of discounts and Value Added Tax.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery
15%-25% On cost
Motor Vehicles
25% Reducing balance
Fixtures & Fittings
25% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks
to their present location and condition.
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2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 11)
10 11
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 May 2023 263,360 677,454 28,971 7,073 976,858
Additions - 198,241 - - 198,241
Disposals (263,360 ) (102,648 ) - - (366,008 )
As at 30 April 2024 - 773,047 28,971 7,073 809,091
Depreciation
As at 1 May 2023 - 330,279 21,156 6,376 357,811
Provided during the period - 117,031 1,953 139 119,123
Disposals - (68,891 ) - - (68,891 )
As at 30 April 2024 - 378,419 23,109 6,515 408,043
Net Book Value
As at 30 April 2024 - 394,628 5,862 558 401,048
As at 1 May 2023 263,360 347,175 7,815 697 619,047
5. Stocks
2024 2023
£ £
Stock 48,000 47,500
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 201,645 188,365
Amounts owed by group undertakings 275,111 -
Other debtors 3,739 4,058
480,495 192,423
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 64,553 48,511
Trade creditors 79,805 97,001
Bank loans and overdrafts - 37,143
Other creditors 5,943 22,076
Taxation and social security 101,684 73,919
251,985 278,650
Bank borrowings are secured against the assets of the company.
Net obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 30,593 40,207
Bank loans - 6,429
30,593 46,636
Bank borrowings are secured against the assets of the company.
Net obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 200
10. Related Party Transactions
During the year, Tag Tool Hire Ltd made arms length transactions with its holding company, Tag Tool Hire Holdings Ltd. By the 30 April 2024 the balance owed from the holding company was £275,111 
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11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Tag Tool Hire Holdings Ltd
The ultimate controlling party are the directors by virtue of their 100% ownership of Tag Tool Hire Holdings Ltd .
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