Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31false12023-06-01No description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04209900 2023-06-01 2024-05-31 04209900 2022-06-01 2023-05-31 04209900 2024-05-31 04209900 2023-05-31 04209900 c:Director1 2023-06-01 2024-05-31 04209900 d:PlantMachinery 2023-06-01 2024-05-31 04209900 d:PlantMachinery 2024-05-31 04209900 d:PlantMachinery 2023-05-31 04209900 d:CurrentFinancialInstruments 2024-05-31 04209900 d:CurrentFinancialInstruments 2023-05-31 04209900 d:Non-currentFinancialInstruments 2024-05-31 04209900 d:Non-currentFinancialInstruments 2023-05-31 04209900 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 04209900 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 04209900 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 04209900 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 04209900 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 04209900 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 04209900 d:ShareCapital 2024-05-31 04209900 d:ShareCapital 2023-05-31 04209900 d:RetainedEarningsAccumulatedLosses 2024-05-31 04209900 d:RetainedEarningsAccumulatedLosses 2023-05-31 04209900 c:FRS102 2023-06-01 2024-05-31 04209900 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04209900 c:FullAccounts 2023-06-01 2024-05-31 04209900 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04209900 2 2023-06-01 2024-05-31 04209900 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 04209900









TUBETOOL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
TUBETOOL LIMITED
REGISTERED NUMBER: 04209900

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1
1

  
1
1

Current assets
  

Stocks
  
488,893
484,531

Debtors: amounts falling due within one year
 5 
16,415
11,695

Cash at bank and in hand
 6 
17,096
38,743

  
522,404
534,969

Creditors: amounts falling due within one year
 7 
(196,129)
(206,994)

Net current assets
  
 
 
326,275
 
 
327,975

Total assets less current liabilities
  
326,276
327,976

Creditors: amounts falling due after more than one year
 8 
(274,877)
(274,961)

  

Net assets
  
51,399
53,015

Page 1

 
TUBETOOL LIMITED
REGISTERED NUMBER: 04209900
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
51,398
53,014

  
51,399
53,015


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 February 2025.




A J Gandon
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TUBETOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Tubetool Limited, Company number: 04209900 Incorporated in England and Wales
Registered office address: The Old Tannery, Hensington Road, Woodstock, Oxfordshire, OX20 1JL
The principal activites of the company continued to be property development and resale of specialist engineering tools. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
TUBETOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
TUBETOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
TUBETOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

2024
2023
£
£

Wages and salaries
9,100
9,099

9,100
9,099


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 1 June 2023
2,919



At 31 May 2024

2,919



Depreciation


At 1 June 2023
2,918



At 31 May 2024

2,918



Net book value



At 31 May 2024
1



At 31 May 2023
1

Page 6

 
TUBETOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
14,015
9,295

Prepayments and accrued income
2,400
2,400

16,415
11,695



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
17,096
38,743

17,096
38,743



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
11,218
3,156

Corporation tax
90
3,623

Other taxation and social security
985
1,763

Other creditors
183,077
197,693

Accruals and deferred income
759
759

196,129
206,994


Page 7

 
TUBETOOL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
274,877
274,961

274,877
274,961


The following liabilities were secured:




Details of security provided:

A mortgage charge exists, in favour of Capital Home Loans Limited, over property disclosed within stocks, dated 20 December 2007.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
274,877
274,961

274,877
274,961

274,877
274,961



10.


Related party transactions

The director of the company, Mr A J Gandon, has advanced funds to the company, interest free and unsecured.  Details of the balance are set out below and disclosed within Other Creditors; Amounts falling due within one year.


2024
2023
£
£

A J Gandon
180,677
195,293
180,677
195,293

 
Page 8