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REGISTERED NUMBER: 03696213 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Power Tool Rentals Limited

Power Tool Rentals Limited (Registered number: 03696213)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Power Tool Rentals Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr J R Noble
Mrs J Hirst





SECRETARY: Mrs J Hirst





REGISTERED OFFICE: Halifax Road
Hipperholme
Halifax
West Yorkshire
HX3 8ER





REGISTERED NUMBER: 03696213 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
3 Park Square
Leeds
LS1 2NE

Power Tool Rentals Limited (Registered number: 03696213)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 208,117 227,405

CURRENT ASSETS
Stocks 19,089 16,696
Debtors 5 85,588 67,271
Cash at bank and in hand 5,322 2,783
109,999 86,750
CREDITORS
Amounts falling due within one year 6 106,905 83,598
NET CURRENT ASSETS 3,094 3,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

211,211

230,557

CREDITORS
Amounts falling due after more than one
year

7

(46,783

)

(58,941

)

PROVISIONS FOR LIABILITIES 9 (42,893 ) (43,207 )
NET ASSETS 121,535 128,409

CAPITAL AND RESERVES
Called up share capital 10 38,140 38,140
Retained earnings 83,395 90,269
SHAREHOLDERS' FUNDS 121,535 128,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Power Tool Rentals Limited (Registered number: 03696213)

Balance Sheet - continued
31 January 2024


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 24 January 2025 and were signed on its behalf by:





Mrs J Hirst - Director


Power Tool Rentals Limited (Registered number: 03696213)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Power Tool Rentals 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 15% on reducing balance

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.

Power Tool Rentals Limited (Registered number: 03696213)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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 the profit and loss account 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 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 349,780 38,114 24,015 411,909
Additions 7,891 - - 7,891
Disposals (2,821 ) - - (2,821 )
At 31 January 2024 354,850 38,114 24,015 416,979
DEPRECIATION
At 1 February 2023 127,786 37,488 19,230 184,504
Charge for year 25,895 125 718 26,738
Eliminated on disposal (2,380 ) - - (2,380 )
At 31 January 2024 151,301 37,613 19,948 208,862
NET BOOK VALUE
At 31 January 2024 203,549 501 4,067 208,117
At 31 January 2023 221,994 626 4,785 227,405

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 42,286 30,520
Amounts owed by group undertakings 40,878 34,496
Prepayments 2,424 2,255
85,588 67,271

Power Tool Rentals Limited (Registered number: 03696213)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other loans (see note 8) 5,556 5,556
Hire purchase contracts 8,265 8,620
Trade creditors 68,440 51,431
Corporation Tax 13,830 8,417
Social security and other taxes 9,835 8,318
Accrued expenses 979 1,256
106,905 83,598

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other loans (see note 8) 29,717 35,272
Hire purchase contracts 17,066 23,669
46,783 58,941

8. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Loan creditor 5,556 5,556

Amounts falling due between two and five years:
Loan creditor 29,717 35,272

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme.

The loan creditor carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 42,893 43,207

Power Tool Rentals Limited (Registered number: 03696213)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2023 43,207
Provided during year (314 )
Accelerated capital allowances
Balance at 31 January 2024 42,893

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
1,502 Ordinary £1 1,502 1,502
36,638 Preference £1 36,638 36,638
38,140 38,140

11. RELATED PARTY DISCLOSURES

At 31 January 2024 the company was owed £40,878 (2023:£34,496) from its parent undertaking, Blue Simba Limited.

12. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its parent undertaking, Blue Simba Limited, which is under the control of Mrs J Hirst and Mr J Noble, the directors.