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REGISTERED NUMBER: 03181172 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Tool Care Hire (Devon) Limited

Tool Care Hire (Devon) Limited (Registered number: 03181172)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tool Care Hire (Devon) Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: M B Phillips





REGISTERED OFFICE: 9 Hennock Road
Marsh Barton Trading Estate
Exeter
Devon
EX2 8NP





REGISTERED NUMBER: 03181172 (England and Wales)





ACCOUNTANTS: Bedford & Co Ltd
128 High Street
Crediton
Devon
EX17 3LQ

Tool Care Hire (Devon) Limited (Registered number: 03181172)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,947,605 4,089,868
Investments 5 1,311,173 1,293,337
5,258,778 5,383,205

CURRENT ASSETS
Stocks 345,424 276,864
Debtors 6 2,160,071 2,001,043
Cash at bank 163,804 46,107
2,669,299 2,324,014
CREDITORS
Amounts falling due within one year 7 1,068,160 1,034,177
NET CURRENT ASSETS 1,601,139 1,289,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,859,917

6,673,042

CREDITORS
Amounts falling due after more than one
year

8

(721,470

)

(1,091,246

)

PROVISIONS FOR LIABILITIES (125,711 ) (133,071 )
NET ASSETS 6,012,736 5,448,725

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,012,636 5,448,625
SHAREHOLDERS' FUNDS 6,012,736 5,448,725

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Tool Care Hire (Devon) Limited (Registered number: 03181172)

Balance Sheet - continued
31 December 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 director and authorised for issue on 26 August 2025 and were signed by:





M B Phillips - Director


Tool Care Hire (Devon) Limited (Registered number: 03181172)

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

1. STATUTORY INFORMATION

Tool Care Hire (Devon) 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 company's place of business is 9 Hennock Road, Marsh Barton Trading Estate, Exeter, Devon, EX2 8NP.

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 is measured at the fair value of the consideration received or receivable from the sale of services, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised when services are delivered to customers such that risks and rewards of ownership have been transferred to them and that there is sufficient reliable evidence that delivery of goods has occurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and at variable rates on reducing balance

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Cost is calculated on a first in first out basis.
In respect of finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 20 ) .

Tool Care Hire (Devon) Limited (Registered number: 03181172)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 179,546 5,648,372 5,827,918
Additions - 990,802 990,802
Disposals - (226,030 ) (226,030 )
At 31 December 2024 179,546 6,413,144 6,592,690
DEPRECIATION
At 1 January 2024 93,621 1,644,429 1,738,050
Charge for year 3,591 984,814 988,405
Eliminated on disposal - (81,370 ) (81,370 )
At 31 December 2024 97,212 2,547,873 2,645,085
NET BOOK VALUE
At 31 December 2024 82,334 3,865,271 3,947,605
At 31 December 2023 85,925 4,003,943 4,089,868

Included in the above figures are assets under hire purchase and finance lease agreements with a net book value of £1,484,412 (2023 - £1,596,632). The depreciation charged on these assets during the year was £376,727 (2023 - £399,158).

5. FIXED ASSET INVESTMENTS
Tool Care Dunn 2000
Hire LLP Partnership Totals
£    £    £   
COST
At 1 January 2024 1,014,311 279,026 1,293,337
Additions 2,480 26,494 28,974
Disposals (11,138 ) - (11,138 )
At 31 December 2024 1,005,653 305,520 1,311,173
NET BOOK VALUE
At 31 December 2024 1,005,653 305,520 1,311,173
At 31 December 2023 1,014,311 279,026 1,293,337

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 2,105,640 1,957,138
Other debtors 54,431 43,905
2,160,071 2,001,043

Tool Care Hire (Devon) Limited (Registered number: 03181172)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 517,445 572,426
Trade creditors 221,960 191,121
Taxation and social security 317,793 257,111
Other creditors 10,962 13,519
1,068,160 1,034,177

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 721,470 1,091,246

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts 1,238,915 1,663,672

The company's bankers, National Westminster Bank PLC, hold a debenture over the company's assets dated 18 July 1997. Both equipment finance houses, Royscot Trust PLC and Lombard North Central PLC hold individual debentures over the company's assets dated 21 June 1999 and 11 January 2001 respectively.