REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
COTSWOLD TOOL AND PLANT HIRE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
COTSWOLD TOOL AND PLANT HIRE LIMITED |
COTSWOLD TOOL AND PLANT HIRE LIMITED (REGISTERED NUMBER: 03335816) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
COTSWOLD TOOL AND PLANT HIRE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
COTSWOLD TOOL AND PLANT HIRE LIMITED (REGISTERED NUMBER: 03335816) |
BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
COTSWOLD TOOL AND PLANT HIRE LIMITED (REGISTERED NUMBER: 03335816) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Cotswold Tool And Plant Hire Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised with a deposit on hire and then balance on completion of hire, on completion of test and on delivery of goods. |
From August 2017 revenue is recognised at the point the rental is due. Revenue after this period is 100% rental income. |
Tangible fixed assets |
Under normal circumstances the freehold property would be classed as investment property as it is being rented out to generate income. However due to the fact that property is being rented by the parent company, WHC Hire Services Limited, and the FRS102 Triennial review allowed that investment property being rented to a group entity can be classed as property plant and equipment and therefore accounted for using the cost model. This model has been applied and as such there are no re-valuations of the property. |
No depreciation is provided on freehold buildings. It is the company's practice to maintain these assets in a continual state of sound repair and to extend and make improvements thereto from time to time and accordingly the directors consider that the lives of these assets are so long, and residual values so high, that their depreciation is insignificant. Any permanent diminution in the value of such buildings will be charged to the profit and loss account as appropriate. |
Financial instruments |
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
COTSWOLD TOOL AND PLANT HIRE LIMITED (REGISTERED NUMBER: 03335816) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
Covid has had a minimal impact if at all, and therefore the director has identified no concerns regarding the company's ability to continue as a going concern. |
Provisions |
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
VAT |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Other creditors |
Accrued expenses |
6. | RELATED PARTY DISCLOSURES |
WHC Hire Services Limited |
Parent Company |
Dividends paid to parent company £NIL (2023- £nil) |
Amount due to related party at the balance sheet date £146,190 (2023: £144,712) |
No interest is charged on outstanding balances and there are no set repayment terms. |
WHC Hire Services Holdings Limited |
Ultimate Parent Company |
Amount due from related party at the balance sheet date £662,998 (2023: £662,998). |