Company Registration No. 1823819 (England and Wales)
Consolidated Tools International Limited
Unaudited accounts
for the year ended 31 March 2019
Consolidated Tools International Limited
Unaudited accounts
Contents
Consolidated Tools International Limited
Company Information
for the year ended 31 March 2019
Company Number
1823819 (England and Wales)
Registered Office
Consolidated House
Garth Drive
Bridgend Industrial Estate
Bridgend
CF31 2AQ
Wales
Accountants
The Wright Advice Ltd
Consolidated Tools International Limited
Statement of financial position
as at
31 March 2019
Tangible assets
21,262
15,844
Cash at bank and in hand
43,231
51,321
Creditors: amounts falling due within one year
(26,454)
(18,519)
Net current assets
34,239
54,359
Total assets less current liabilities
55,501
70,203
Creditors: amounts falling due after more than one year
(477)
(3,259)
Provisions for liabilities
Called up share capital
25,000
25,000
Profit and loss account
30,000
41,920
Shareholders' funds
55,000
66,920
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 11 December 2019.
Paul Prescott
Director
Company Registration No. 1823819
Consolidated Tools International Limited
Notes to the Accounts
for the year ended 31 March 2019
Consolidated Tools International Limited is a private company, limited by shares, registered in England and Wales, registration number 1823819. The registered office is Consolidated House, Garth Drive, Bridgend Industrial Estate, Bridgend, CF31 2AQ, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
15% straight line
Fixtures & fittings
15% straight line
Computer equipment
33% straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Consolidated Tools International Limited
Notes to the Accounts
for the year ended 31 March 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2018
-
8,000
6,748
4,848
19,596
Additions
8,419
-
602
347
9,368
Disposals
-
-
-
(453)
(453)
At 31 March 2019
8,419
8,000
7,350
4,742
28,511
At 1 April 2018
-
1,200
753
1,799
3,752
Charge for the year
168
1,200
1,103
1,479
3,950
On disposals
-
-
-
(453)
(453)
At 31 March 2019
168
2,400
1,856
2,825
7,249
At 31 March 2019
8,251
5,600
5,494
1,917
21,262
At 31 March 2018
-
6,800
5,995
3,049
15,844
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
5,600
6,800
Finished goods
7,460
9,006
Trade debtors
10,002
6,551
7
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
2,782
2,644
Trade creditors
22,027
16,375
Taxes and social security
2,921
1,766
Accrued preference dividends
2,636
-
Loans from directors
(5,843)
(5,348)
Consolidated Tools International Limited
Notes to the Accounts
for the year ended 31 March 2019
8
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
477
3,259
9
Average number of employees
During the year the average number of employees was 4 (2018: 4).