| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| PLANTOOL LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| PLANTOOL LIMITED |
| PLANTOOL LIMITED (REGISTERED NUMBER: 01561496) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PLANTOOL LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Manor Court Chambers |
| Townsend Drive |
| Nuneaton |
| Warwickshire |
| CV11 6RU |
| PLANTOOL LIMITED (REGISTERED NUMBER: 01561496) |
| BALANCE SHEET |
| 31 December 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Share premium | 14 |
| Retained earnings | 14 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| PLANTOOL LIMITED (REGISTERED NUMBER: 01561496) |
| BALANCE SHEET - continued |
| 31 December 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| PLANTOOL LIMITED (REGISTERED NUMBER: 01561496) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| Plantool Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| This is the first year in which the financial statements have been prepared in accordance with Financial |
| Reporting Standard 102. No accounting policies have been changed as a result of this and no amounts in the |
| comparative period are required to be restated due to the conversion to Financial Reporting Standard 102. |
| Turnover |
| Turnover is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and |
| VAT. |
| Goodwill |
| Goodwill has been fully amortised. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Improvements to property | - |
| Hire fleet | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due |
| allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
| bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| PLANTOOL LIMITED (REGISTERED NUMBER: 01561496) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
| from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
| laws that have been enacted or substantively enacted by the year end and that are expected to apply to the |
| reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
| they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's |
| pension scheme are charged to profit or loss in the period to which they relate. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. |
| Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
| If an arrangement constitutes a finance transaction it is measured at present value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 January 2016 |
| and 31 December 2016 |
| AMORTISATION |
| At 1 January 2016 |
| and 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| PLANTOOL LIMITED (REGISTERED NUMBER: 01561496) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Hire | and |
| property | fleet | fittings |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| As at 31 December 2016, the cost of assets acquired under hire purchase was £1,152,184 (2015 £793,143) and |
| accumulated depreciation was £214,976 (2015 £129,253). |
| During the period, depreciation of £104,468 (2015 £56,132) was charged to these assets. |
| PLANTOOL LIMITED (REGISTERED NUMBER: 01561496) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2016 |
| 6. | STOCKS |
| 2016 | 2015 |
| £ | £ |
| Stocks |
| Work-in-progress |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Prepayments |
| Included in trade debtors are factored debts totalling £247,595 (2015: £285,280). |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans and overdrafts (see note 10) |
| Hire purchase contracts |
| Trade creditors |
| Credit card | - | 8,061 |
| Amounts owed to group undertakings |
| VAT | 71,786 | 50,761 |
| Directors' current accounts | 41,797 | 33,216 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans (see note 10) |
| Hire purchase contracts |
| Directors' loan accounts | 50,000 | 50,000 |
| 10. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2016 | 2015 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Bank loans |
| PLANTOOL LIMITED (REGISTERED NUMBER: 01561496) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2016 |
| 10. | LOANS - continued |
| 2016 | 2015 |
| £ | £ |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2016 | 2015 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts | 479,580 | 409,817 |
| 12. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £ | £ |
| Deferred tax | 228,100 | 176,330 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2016 |
| Accelerated capital allowances | 51,770 |
| Tax losses carried forward |
| Change in tax rate |
| Balance at 31 December 2016 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary shares | £1 | 22,000 | 22,000 |
| PLANTOOL LIMITED (REGISTERED NUMBER: 01561496) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2016 |
| 14. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 January 2016 | 750,831 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 December 2016 | 767,231 |
| 15. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| 16. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |