Penrith Tool Hire Limited

Penrith Tool Hire Limited
Directors' Report
For the year ended 30 November 2024

Director's report and financial statements

The directors present their annual report and the financial statements for the year ended 30 November 2024.

Directors

The directors who served the company throughout the year were as follows:

	Shares
David Taylor	54.00
Lynsey Taylor	46.00

Statement of directors' responsibilities

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :

select suitable accounting policies and then apply them consistently
make judgements and accounting estimates that are reasonable and prudent
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:

----------------------------------
David Taylor
Director

Date approved: 16 September 2025

Penrith Tool Hire Limited Accountants' Report For the year ended 30 November 2024
Accountant’s report You consider that the company is exempt from an audit for the year ended 30 November 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. Shaun Brown Accountants Ltd 30 November 2024 .................................................... Shaun Brown Accountants Ltd 14A Hartness Road Gilwilly Industrial Estate Penrith Cumbria CA11 9BD 16 September 2025 3

Penrith Tool Hire Limited
Accountants' Report
For the year ended 30 November 2024

Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Shaun Brown Accountants Ltd
30 November 2024

....................................................
Shaun Brown Accountants Ltd
14A Hartness Road
Gilwilly Industrial Estate
Penrith
Cumbria
CA11 9BD
16 September 2025

Penrith Tool Hire Limited
Statement of Financial Position
As at 30 November 2024

	Notes	2024 £	2023 £
Fixed assets
Tangible fixed assets	4	362,158	267,450
		362,158	267,450
Current assets
Stocks	5	15,260	14,360
Debtors	6	72,815	44,666
Cash at bank and in hand		11,342	15,729
		99,417	74,755
Creditors: amount falling due within one year	7	(203,770)	(168,055)
Net current assets		(104,353)	(93,300)

Total assets less current liabilities		257,805	174,150
Creditors: amount falling due after more than one year	8	(58,306)	(51,805)
Provisions for liabilities	9	(90,503)	(66,932)
Net assets		108,996	55,413

Capital and reserves
Called up share capital	10	100	100
Profit and loss account		108,896	55,313
Shareholders' funds		108,996	55,413

For the year ended 30 November 2024 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 16 September 2025 and were signed on its behalf by:

-------------------------------
David Taylor
Director

Penrith Tool Hire Limited
Notes to the Financial Statements
For the year ended 30 November 2024

General Information

Penrith Tool Hire Limited is a private company, limited by shares, registered in England and Wales, registration number 05097228, registration address Unit 58 Cowper Road, Gilwilly Trading Estate, Penrith, Cumbria, CA11 9BL.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the income statement on a straight line basis.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Motor Vehicles	15% Reducing Balance
Land and Buildings	10% Reducing Balance
Plant and Machinery	15% Reducing Balance
Fixtures and Fittings	15% Reducing Balance

Assets on finance lease and hire purchase

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 6 (2023 : 6).

Intangible fixed assets

Cost	Goodwill	Total
	£	£
At 01 December 2023	60,000	60,000
Additions	-	-
Disposals	-	-
At 30 November 2024	60,000	60,000
Amortisation
At 01 December 2023	60,000	60,000
Charge for year	-	-
On disposals	-	-
At 30 November 2024	60,000	60,000
Net book values
At 30 November 2024	-	-
At 30 November 2023	-	-

Tangible fixed assets

Cost or valuation	Land and Buildings	Plant and Machinery	Motor Vehicles	Fixtures and Fittings	Improvements to property	Total
	£	£	£	£	£	£
At 01 December 2023	750	417,322	68,413	19,862	-	506,347
Additions	-	153,691	12,990	-	-	166,681
Disposals	-	(68,382)	(34,596)	-	-	(102,978)
At 30 November 2024	750	502,631	46,807	19,862	-	570,050
Depreciation
At 01 December 2023	576	192,042	31,651	14,349	279	238,897
Charge for year	26	25,005	5,614	827	-	31,472
On disposals	-	(39,931)	(22,267)	-	(279)	(62,477)
At 30 November 2024	602	177,116	14,998	15,176	-	207,892
Net book values
Closing balance as at 30 November 2024	148	325,515	31,809	4,686	-	362,158
Opening balance as at 01 December 2023	174	225,280	36,762	5,513	(279)	267,450

The net book value of Plant and Machinery, Motor Vehicles includes £ 120,457 in respect of assets leased under finance leases or hire purchase contracts.

Stocks

	2024 £		2023 £
Stocks	15,260		14,360
	15,260		14,360

Debtors: amounts falling due within one year

	2024 £	2023 £
Trade Debtors	42,448	44,254
Other Debtors	30,367	412
	72,815	44,666

Creditors: amount falling due within one year

	2024 £	2023 £
Trade Creditors	99,231	55,753
Bank Loans & Overdrafts	0	17,847
Taxation and Social Security	34,907	48,054
Obligations under HP/Financial Leases	37,910	37,423
Other Creditors	31,722	8,978
	203,770	168,055

Creditors: amount falling due after more than one year

	2024 £	2023 £
Bank Loans & Overdrafts	18,097	31,806
Obligations under HP/Financial Leases	40,209	19,999
	58,306	51,805

Provisions for liabilities

	2024 £		2023 £
Deferred Tax	90,503		66,932
	90,503		66,932

10.

Share Capital

Allotted, called up and fully paid	2024 £	2023 £
92 Class A shares of £1.00 each	92	92
6 Class B shares of £1.00 each	6	6
2 Class C shares of £1.00 each	2	2
	100	100

11.

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value - income/(expenses)				Balance owed by/(owed to)
	2024 £		2023 £		2024 £		2023 £
Penrith Properties Limited	(38,400)		(14,400)		0		0

Penrith Tool Hire Limited leased a business premises from a Related Party, Penrith Properties Limited a Company owned and Controlled by the Directors and Shareholders of Penrith Tool Hire Limited

Registered Number: 05097228
England and Wales
PENRITH TOOL HIRE LIMITED

Unaudited Financial Statements

Period of accounts Start date: 01 December 2023 End date: 30 November 2024