Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-012trueNo description of principal activitytrue2falsefalse 14684447 2024-01-01 2024-12-31 14684447 2023-03-01 2023-12-31 14684447 2024-12-31 14684447 2023-12-31 14684447 c:Director1 2024-01-01 2024-12-31 14684447 d:CurrentFinancialInstruments 2024-12-31 14684447 d:CurrentFinancialInstruments 2023-12-31 14684447 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 14684447 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14684447 d:ShareCapital 2024-12-31 14684447 d:ShareCapital 2023-12-31 14684447 c:EntityHasNeverTraded 2024-01-01 2024-12-31 14684447 c:FRS102 2024-01-01 2024-12-31 14684447 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14684447 c:FullAccounts 2024-01-01 2024-12-31 14684447 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14684447 6 2024-01-01 2024-12-31 14684447 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 14684447









INDUSTRIAL TOOL SUPPLIES GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
INDUSTRIAL TOOL SUPPLIES GROUP LIMITED
REGISTERED NUMBER: 14684447

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,250,000
1,250,000

  
1,250,000
1,250,000

Current assets
  

Debtors: amounts falling due within one year
 5 
100
100

  
100
100

Creditors: amounts falling due within one year
 6 
(1,250,000)
(1,250,000)

Net current liabilities
  
 
 
(1,249,900)
 
 
(1,249,900)

Total assets less current liabilities
  
100
100

  

Net assets
  
100
100


Capital and reserves
  

Called up share capital 
  
100
100

  
100
100


Page 1

 
INDUSTRIAL TOOL SUPPLIES GROUP LIMITED
REGISTERED NUMBER: 14684447
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

For the year ended 31 December 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 directors acknowledge their 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 profit and loss account 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 3 April 2025.




................................................
K R Hubbard
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
INDUSTRIAL TOOL SUPPLIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Industrial Tool Supplies Group Limited is a private company, limited by shares and incorporated in England and Wales with registration number 14684447. The address of the registered office is Dc One, Edinburgh Way, Harlow, Essex, United Kingdom, CM20 2BN which is also the company's place of business. During the year the company was non-trading.

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 Company's accounts are presented in GBP and rounded to the nearest Pound.
The following principal accounting policies have been applied:

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

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.

 
2.4

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.

 
2.5

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
 
Page 3

 
INDUSTRIAL TOOL SUPPLIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)


Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investments

£



Cost


At 1 January 2024
1,250,000





5.


Debtors

2024
2023
£
£


Called up share capital not paid
100
100


Page 4

 
INDUSTRIAL TOOL SUPPLIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to Group parties
1,250,000
1,250,000



7.


Related party transactions

During the year the company held a loan of £1,250,000 (2023 - £1,250,000) from Industrial Tool Supplies (London) Limited, a company in which Mr K R Hubbard is a director.


8.


Controlling party

The ultimate controlling parties are K R Hubbard and J J Wild due to their join shareholding.

Page 5