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Registration number: 02181148

J.B. Tool Hire Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

J.B. Tool Hire Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

J.B. Tool Hire Limited

Company Information

Directors

J. A. Botterill

J. Botterill

S. Cox

P. Botterill

Registered office

Comet Way
Hermitage Industrial Estate
Coalville
Leicestershire
LE67 3FS

Accountants

Robert Whowell & Partners LLP
Chartered AccountantsWestwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

J.B. Tool Hire Limited

(Registration number: 02181148)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

5,795,844

5,488,661

Current assets

 

Stocks

5

16,413

16,836

Debtors

6

979,652

856,493

Cash at bank and in hand

 

7,383

36,135

 

1,003,448

909,464

Creditors: Amounts falling due within one year

7

(2,005,679)

(1,653,897)

Net current liabilities

 

(1,002,231)

(744,433)

Total assets less current liabilities

 

4,793,613

4,744,228

Creditors: Amounts falling due after more than one year

7

(1,379,748)

(1,341,916)

Provisions for liabilities

(449,317)

(315,490)

Net assets

 

2,964,548

3,086,822

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

2,964,448

3,086,722

Shareholders' funds

 

2,964,548

3,086,822

 

J.B. Tool Hire Limited

(Registration number: 02181148)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 June 2025 and signed on its behalf by:
 

.........................................
J. A. Botterill
Director

 

J.B. Tool Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Comet Way
Hermitage Industrial Estate
Coalville
Leicestershire
LE67 3FS

These financial statements were authorised for issue by the Board on 11 June 2025.

2

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 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 financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

J.B. Tool Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold properties

straight line over the life of the lease

Fixtures, fittings and equipment

25% reducing balance

Motor vehicles

15% - 25% straight line

Plant and machinery

12.5% - 25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

 

J.B. Tool Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises direct materials. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the useful life of the asset. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

J.B. Tool Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2024 - 47).

 

J.B. Tool Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Leasehold properties
£

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2024

364,612

245,670

1,328,277

12,815,308

14,753,867

Additions

-

2,925

156,400

1,388,202

1,547,527

Disposals

-

-

(245,314)

(1,425,146)

(1,670,460)

At 31 March 2025

364,612

248,595

1,239,363

12,778,364

14,630,934

Depreciation

At 1 April 2024

104,930

191,792

795,505

8,172,979

9,265,206

Charge for the year

4,907

9,459

197,239

842,961

1,054,566

Eliminated on disposal

-

-

(244,684)

(1,239,998)

(1,484,682)

At 31 March 2025

109,837

201,251

748,060

7,775,942

8,835,090

Carrying amount

At 31 March 2025

254,775

47,344

491,303

5,002,422

5,795,844

At 31 March 2024

259,682

53,878

532,772

4,642,329

5,488,661

5

Stocks

2025
£

2024
£

Goods for resale

16,413

16,836

6

Debtors

Current

2025
£

2024
£

Trade debtors

812,194

744,123

Prepayments

167,458

112,370

 

979,652

856,493

 

J.B. Tool Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

1,099,527

1,067,596

Trade creditors

 

600,746

297,664

Taxation and social security

 

82,672

190,287

Accruals and deferred income

 

139,540

13,486

Other creditors

 

83,194

84,864

 

2,005,679

1,653,897


Creditors include bank loans, overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £1,099,527 (2024 - £1,067,596).

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

1,379,748

1,341,916


Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £1,379,748 (2024 - £1,341,916).

8

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

J.B. Tool Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

25,325

44,458

Hire purchase contracts

1,354,423

1,297,458

1,379,748

1,341,916

Current loans and borrowings

2025
£

2024
£

Bank borrowings

20,000

20,000

Bank overdrafts

58,290

-

Hire purchase contracts

1,021,237

1,047,596

1,099,527

1,067,596