Registration number: 08510520

The Tool Stop (Staffs) Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

The Tool Stop (Staffs) Limited

(Registration number: 08510520)
Balance Sheet as at 28 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	10,381	9,904
Investments	6	-	50,271
		10,381	60,175
Current assets
Stocks	7	180,000	260,000
Debtors	8	76,334	19,170
Cash at bank and in hand		73,511	70,907
		329,845	350,077
Creditors: Amounts falling due within one year	9	(214,491)	(199,436)
Net current assets		115,354	150,641
Total assets less current liabilities		125,735	210,816
Creditors: Amounts falling due after more than one year	9	(26,239)	(31,667)
Provisions for liabilities		(1,972)	(1,882)
Net assets		97,524	177,267
Capital and reserves
Called up share capital		3	3
Retained earnings		97,521	177,264
Shareholders' funds		97,524	177,267

The Tool Stop (Staffs) Limited

(Registration number: 08510520)
Balance Sheet as at 28 September 2024

For the financial year ending 28 September 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; 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 10 October 2025 and signed on its behalf by:
 

......................................... Mr T Hine Director

The Tool Stop (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

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:
Unit 1 - 3
Carr Wood Farm
Carr Bank
Oakmoor
ST10 3DG

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.
These financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

The Tool Stop (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance
Office equipment	25% straight line
Motor Vehicles	25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

The Tool Stop (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

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 2 (2023 - 2).

The Tool Stop (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 29 September 2023	20,000	20,000
At 28 September 2024	20,000	20,000
Amortisation
At 29 September 2023	20,000	20,000
At 28 September 2024	20,000	20,000
Carrying amount
At 28 September 2024	-	-

5	Tangible assets

	Fixtures and fittings £	Motor vehicles  £	Office equipment £	Total £
Cost or valuation
At 29 September 2023	15,749	-	627	16,376
Additions	-	3,070	-	3,070
At 28 September 2024	15,749	3,070	627	19,446
Depreciation
At 29 September 2023	5,868	-	604	6,472
Charge for the year	2,474	96	23	2,593
At 28 September 2024	8,342	96	627	9,065
Carrying amount
At 28 September 2024	7,407	2,974	-	10,381
At 28 September 2023	9,881	-	23	9,904

The Tool Stop (Staffs) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 September 2024

6	Investments

	2024 £	2023 £
Investments in subsidiaries	-	50,271