Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Construct-Equip Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W Burgess

K Burgess

REGISTERED OFFICE:

5-6 Boeing Way

International Trading Estate

Southall

UB2 5LB

REGISTERED NUMBER:

02333178 (England and Wales)

ACCOUNTANTS:

Williams & Co Epsom LLP

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

4

-

638,893

Investment property

5

1,000,000

-

1,000,000

638,893

CURRENT ASSETS

Debtors

6

70,492

-

Cash at bank

1,030

-

71,522

-

CREDITORS

Amounts falling due within one year

7

58,268

-

NET CURRENT ASSETS

13,254

-

TOTAL ASSETS LESS CURRENT LIABILITIES

1,013,254

638,893

PROVISIONS FOR LIABILITIES

90,276

25,548

NET ASSETS

922,978

613,345

CAPITAL AND RESERVES

Called up share capital

8

426

426

Capital redemption reserve

424

424

Fair value reserve

9

296,379

-

Retained earnings

625,749

612,495

SHAREHOLDERS' FUNDS

922,978

613,345

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 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

W Burgess - Director

1.	STATUTORY INFORMATION

Construct-Equip 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 NIL (2023 - 15 ).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2024

831,847

Reclassification/transfer

(831,847

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

192,954

Reclassification/transfer

(192,954

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

638,893

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Revaluations

361,107

Reclassification/transfer

638,893

At 31 December 2024

1,000,000

NET BOOK VALUE

At 31 December 2024

1,000,000

The company creased trading at the end of 2024 following acquisition by the City Tool Hire Group. The property the company still owns is now rented out to the same group on which rent is now paid to the company. As a result, the freehold property has been reclassified an investment property in accordance with FRS 102.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

361,107

Cost

638,893

1,000,000

The property was professionally valued in 2023 at £1m when to company was acquired by the City Tool Hire Group as it formed part of the purchase price.

When the company was then sold to new new shareholders, the directors have used the professional valuation made in 2023 as a fair value for the financial statements and will continue to review the fair value going forward in accordance with FRS 102.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

70,492

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

7,104

-

Taxation and social security

23,996

-

Other creditors

27,168

-

58,268

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

426

Ordinary

£1

426

426

9.

RESERVES

Fair

value

reserve

£

Revaluation

361,107

Deferred tax

(64,728

)

At 31 December 2024

296,379