Registration number:
Beaver Tool Hire Limited
for the Year Ended 31 January 2024
Beaver Tool Hire Limited
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Beaver Tool Hire Limited
Company Information
Directors |
Ms Catherine Snoddy Mr Robert Jones |
Registered office |
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Accountants |
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Beaver Tool Hire Limited
(Registration number: 04361822)
Abridged Balance Sheet as at 31 January 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
- |
( |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
402,173 |
413,287 |
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Shareholders' funds |
402,273 |
413,387 |
For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Beaver Tool Hire Limited
(Registration number: 04361822)
Abridged Balance Sheet as at 31 January 2024
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Beaver Tool Hire Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reveresed at the
balance sheet.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance basis |
Fixtures and fittings |
25% reducing balance basis |
Motor vehicles |
25% reducing balance basis |
Computer equipment |
33% reducing balance basis |
Beaver Tool Hire Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
over 20 years in equal instalments |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Leases
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and
loss account in the period in which they become payable in accordance with the rules of the scheme.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Loss before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
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Beaver Tool Hire Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024
Intangible assets |
Total |
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Cost or valuation |
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At 1 February 2023 |
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At 31 January 2024 |
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Amortisation |
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At 1 February 2023 |
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At 31 January 2024 |
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Carrying amount |
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At 31 January 2024 |
- |
tangible assets |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 February 2023 |
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Additions |
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- |
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Disposals |
( |
( |
- |
( |
At 31 January 2024 |
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Depreciation |
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At 1 February 2023 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
- |
( |
At 31 January 2024 |
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Carrying amount |
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At 31 January 2024 |
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At 31 January 2023 |
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Stocks |
2024 |
2023 |
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Other inventories |
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Beaver Tool Hire Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024
Debtors |
Debtors includes £Nil (2023 - £Nil) due after more than one year.