Registration number: 16736790

NuCo Tools Limited

Contents

Abridged Balance Sheet	1 to 2
Notes to the Unaudited Abridged Financial Statements	3 to 10

NuCo Tools Limited

(Registration number: 16736790)
Abridged Balance Sheet as at 30 June 2026

	Note	2026
		£	£
Fixed assets
Goodwill	5		3
Negative goodwill	5		(545,005)
			(545,002)
Intangible assets not including goodwill	5	374,724
Tangible assets	6	742,992
			1,117,716
Current assets
Stocks	7	1,585,841
Debtors		188,988
Cash at bank and in hand		12,543
		1,787,372
Prepayments and accrued income		76,572
Creditors: Amounts falling due within one year	8.1	(829,505)
Net current assets			1,034,439
Total assets less current liabilities			1,607,153
Creditors: Amounts falling due after more than one year	8.1		(1,094,759)
Accruals and deferred income			(28,875)
Provisions for liabilities			(91,861)
Net assets			391,658
Capital and reserves
Called up share capital		100
Retained earnings		391,558
Shareholders' funds			391,658

NuCo Tools Limited

(Registration number: 16736790)
Abridged Balance Sheet as at 30 June 2026

For the financial period ending 30 June 2026 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 period 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 12 October 2026 and signed on its behalf by:
 

Mrs H Jones Director

NuCo Tools Limited

Notes to the Unaudited Abridged Financial Statements for the period from 23 September 2025 to 30 June 2026

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
16c Weycroft Avenue
Millwey Rise Industrial Estate
Axminster
Devon
EX13 5HU

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 abridged 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 abridged 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.

Revenue recognition

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

NuCo Tools Limited

Notes to the Unaudited Abridged Financial Statements for the period from 23 September 2025 to 30 June 2026

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:

Depreciation method and rate for Tangible assets
Asset class	Depreciation method and rate
Plant and Machinery	10% reducing balance
Office equipment	20% straight line

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.

Negative goodwill

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

NuCo Tools Limited

Notes to the Unaudited Abridged Financial Statements for the period from 23 September 2025 to 30 June 2026

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 & Intellectual Property	10 years 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

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

NuCo Tools Limited

Notes to the Unaudited Abridged Financial Statements for the period from 23 September 2025 to 30 June 2026

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.

Leases

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 held under finance leases are recognised at cost at inception of the lease. These assets are depreciated over the useful life of the asset. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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 period, was 34.

NuCo Tools Limited

Notes to the Unaudited Abridged Financial Statements for the period from 23 September 2025 to 30 June 2026

4

Taxation

Tax charged/(credited) in the profit and loss account

	2026 £
Deferred taxation
Arising from origination and reversal of timing differences	91,861

5	Intangible assets

	Goodwill  £	Trademarks, patents and licenses  £	Total £
Cost or valuation
Acquired through business combinations	3	404,820	404,823
At 30 June 2026	3	404,820	404,823
Amortisation
Amortisation charge	-	30,096	30,096
At 30 June 2026	-	30,096	30,096
Carrying amount
At 30 June 2026	3	374,724	374,727

On 22 October 2025 the company acquired the trade and certain assets of the manufacturing and wholesale business of Axminster Tool Centre Limited from its joint administrators.

The fair values of the identifiable assets acquired were: trade marks and design rights £372,820; goodwill and other intangibles £3; plant and machinery £200,000; and stock £1,940,584, giving £2,513,407 in total. The cost of the combination was £800,000, giving rise to negative goodwill of £1,713,407.

Trade marks and design rights were valued by independent intellectual property valuers on a market value basis reflecting a sale by administrators within a restricted marketing period. Plant and machinery was independently valued at the date of acquisition. Finished goods and work in progress were measured at selling price less costs to complete, costs of disposal and a reasonable profit allowance, and raw materials at current replacement cost. Negative goodwill arose because the fair value of the assets acquired exceeded the consideration paid, reflecting the circumstances of the sale.

The element attributable to intangible assets, £172,820, is released over ten years, being the period over which those assets are amortised. The element attributable to stock, £1,540,587, is released over twelve months from acquisition, being the period over which the acquired stock is expected to be sold. £1,155,440 was released in the period and £385,147 is carried forward.

NuCo Tools Limited

Notes to the Unaudited Abridged Financial Statements for the period from 23 September 2025 to 30 June 2026

The aggregate amount of research and development expenditure recognised as an expense during the period is £1,040.
 

Negative goodwill	2026 £
Changes arising from new business combinations	(1,713,407)
Recognised in profit or loss	1,168,402
At 30 June 2026	(545,005)

6	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
Additions	6,295	796,879	803,174
At 30 June 2026	6,295	796,879	803,174
Depreciation
Charge for the period	839	59,343	60,182
At 30 June 2026	839	59,343	60,182
Carrying amount
At 30 June 2026	5,456	737,536	742,992

7

Stocks

	2026 £
Raw materials and consumables	522,196
Work in progress	34,556
Finished goods and goods for resale	1,029,089
	1,585,841

8

Creditors

Creditors: amounts falling due within one year

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £255,524.

Creditors: amounts falling due after more than one year

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £389,637.

NuCo Tools Limited

Notes to the Unaudited Abridged Financial Statements for the period from 23 September 2025 to 30 June 2026

9	Provisions for liabilities

	Deferred tax £	Total £
Additional provisions	91,861	91,861
At 30 June 2026	91,861	91,861

10	Share capital

Allotted, called up and fully paid shares

	2026
	No.	£
Ordinary Shares of £1 each	100	100

11	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,408,849. The financial commitments at the balance sheet date are represented by lease commitments in relation to Unit 16B Millway Industrial Estate, Weycroft Avenue, Axminster, EX13 5HU. The lease term runs to 15 July 2036.

12	Related party transactions

2026	At 23 September 2025 £	Advances to director £	At 30 June 2026 £
Overdrawn directors loan accounts	-	53	53

Other transactions with directors

The overdrawn loan accounts were repaid on 10 September 2026

Loans from related parties

2026	Directors £	Total £
Advanced	780,036	780,036
Repaid	(74,914)	(74,914)
At end of period	705,122	705,122

Terms of loans from related parties

NuCo Tools Limited

Notes to the Unaudited Abridged Financial Statements for the period from 23 September 2025 to 30 June 2026

The loans received from directors are interest free and are repayable on demand, although are not expected to be recalled within the next year. The directors have confirmed that they will give 13 months notice of requiring the balance of the loan to be repaid and, therefore, £705,122 has been reported as due in more than one year. The amortised cost of the loan over a 13 month period will not be materially different to the transaction cost of the loan and, therefore, no adjustment has been made in these accounts to report the loan at amortised cost.