Company Registration No. 1823819 (England and Wales)
Consolidated Tools International Limited
Unaudited accounts
for the year ended 31 March 2022
Consolidated Tools International Limited
Unaudited accounts
Contents
Consolidated Tools International Limited
Company Information
for the year ended 31 March 2022
Company Number
1823819 (England and Wales)
Registered Office
Consolidated House
Garth Drive
Bridgend Industrial Estate
Bridgend
CF31 2AQ
Wales
Accountants
The Wright Advice Ltd
2 Llanedeyrn Road
Cardiff
CF23 9DX
Consolidated Tools International Limited
Statement of financial position
as at
31 March 2022
Tangible assets
17,630
14,907
Inventories
17,172
11,327
Cash at bank and in hand
76,340
66,610
Creditors: amounts falling due within one year
(48,151)
(36,772)
Net current assets
54,256
54,551
Total assets less current liabilities
71,886
69,458
Provisions for liabilities
Called up share capital
25,000
25,000
Profit and loss account
46,862
44,434
Shareholders' funds
71,862
69,434
For the year ending 31 March 2022 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.
The financial statements were approved by the Board and authorised for issue on 12 July 2022 and were signed on its behalf by
Paul Prescott
Director
Company Registration No. 1823819
Consolidated Tools International Limited
Notes to the Accounts
for the year ended 31 March 2022
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Consolidated Tools International Limited
Notes to the Accounts
for the year ended 31 March 2022
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 2021
8,419
8,000
7,417
5,108
28,944
Additions
-
-
2,815
3,253
6,068
Disposals
-
-
-
(4,395)
(4,395)
At 31 March 2022
8,419
8,000
10,232
3,966
30,617
At 1 April 2021
503
4,800
4,071
4,663
14,037
Charge for the year
168
1,200
1,338
639
3,345
On disposals
-
-
-
(4,395)
(4,395)
At 31 March 2022
671
6,000
5,409
907
12,987
At 31 March 2022
7,748
2,000
4,823
3,059
17,630
At 31 March 2021
7,916
3,200
3,346
445
14,907
5
Debtors: amounts falling due within one year
2022
2021
Trade debtors
8,895
13,386
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
45,022
23,027
Other creditors
2,719
1,622
Loans from directors
(1,256)
10,203
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Average number of employees
During the year the average number of employees was 2 (2021: 3).