South West Tool Hire Company Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

South West Tool Hire Company Ltd

Company Information

Directors

L Edwards J M Wring D S Wring

Registered Office

Wring Group Building Vale Lane Bedminster Bristol BS3 5RU

Registered Number

07657076

Accountants

Verinder Powell Associates Limited Suite 5 Corum 2 Corum Office Park Crown Way Warmley Bristol BS30 8FJ

South West Tool Hire Company Ltd

(Registration number: 07657076)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,273,569	1,040,957
Current assets
Debtors	5	1,145,939	709,055
Cash at bank and in hand		308,935	487,799
		1,454,874	1,196,854
Creditors: Amounts falling due within one year	6	(1,027,935)	(666,769)
Net current assets		426,939	530,085
Total assets less current liabilities		1,700,508	1,571,042
Creditors: Amounts falling due after more than one year	6	(385,089)	(306,353)
Provisions for liabilities		(229,954)	(214,786)
Net assets		1,085,465	1,049,903
Capital and reserves
Called up share capital		200	200
Retained earnings		1,085,265	1,049,703
Shareholders' funds		1,085,465	1,049,903

South West Tool Hire Company Ltd

(Registration number: 07657076)
Balance Sheet as at 31 August 2025

For the financial year ending 31 August 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 22 May 2026 and signed on its behalf by:
 

......................................... J M Wring Director

South West Tool Hire Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Wring Group Building
Vale Lane
Bedminster
Bristol
BS3 5RU

These financial statements were authorised for issue by the Board on 22 May 2026.

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). There have been no material departures from the Financial Reporting Standard 102 1A.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.

Turnover

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 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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

South West Tool Hire Company Ltd

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

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

Asset class	Depreciation method and rate
Furniture, fittings and equipment	15% straight line
Motor vehicles	20% reducing balance
Plant and machinery	33% 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 receivables.

South West Tool Hire Company Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Hire purchase and leasing commitments

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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.

South West Tool Hire Company Ltd

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

Defined contribution pension obligation

The company operates a define contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2024 - 20).

4	Tangible assets

	Furniture, fittings and equipment £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	143,625	1,546,990	432,222	2,122,837
Additions	8,972	644,396	131,472	784,840
Disposals	-	(316,093)	-	(316,093)
At 31 August 2025	152,597	1,875,293	563,694	2,591,584
Depreciation
At 1 September 2024	59,489	907,203	115,188	1,081,880
Charge for the year	17,963	433,225	69,272	520,460
Eliminated on disposal	-	(284,325)	-	(284,325)
At 31 August 2025	77,452	1,056,103	184,460	1,318,015
Carrying amount
At 31 August 2025	75,145	819,190	379,234	1,273,569
At 31 August 2024	84,136	639,787	317,034	1,040,957

South West Tool Hire Company Ltd

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

5

Debtors

	Note	2025 £	2024 £
Trade debtors		571,527	509,525
Amounts owed by related parties	8	566,398	186,543
Prepayments and accrued income		8,014	10,898
Other debtors		-	2,089
		1,145,939	709,055

6

Creditors

Due within one year	2025 £	2024 £
Bank borrowings	7,500	10,000
Hire purchase and finance lease liabilities	251,669	159,678
Trade creditors	649,922	418,884
Taxation and social security	33,364	55,315
Accruals and deferred income	24,731	13,653
Other creditors	60,749	9,239
	1,027,935	666,769

 

	2025 £	2024 £
Due after one year
Bank borrowings	-	7,500
Hire purchase and finance lease liabilities	385,089	298,853
	385,089	306,353

Hire purchase contracts are secured over the assets to which they relate.

South West Tool Hire Company Ltd

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

7	Financial commitments, guarantees and contingencies

Pension commitments

Included in the balance sheet are pensions of £7,221 (2024 - £6,710). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

8	Related party transactions

Loans to related parties

2025	Other related parties £	Total £
At start of period	186,543	186,543
Advanced	575,494	575,494
Repaid	(195,639)	(195,639)
At end of period	566,398	566,398

2024	Other related parties £	Total £
At start of period	174,799	174,799
Advanced	11,744	11,744
At end of period	186,543	186,543

Terms of loans to related parties

The loans to other related parties are interest free and repayable on demand.

South West Tool Hire Company Ltd

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

Income and receivables from related parties

2025	Other related parties £
Receipt of services	990,346

2024	Other related parties £
Receipt of services	738,530

Expenditure with and payables to related parties

2025	Other related parties £
Rendering of services	147,358

2024	Other related parties £
Rendering of services	107,898