Legal Entity Simplification – Supplier
Frequently Asked Questions
Do I need to create a new customer/supplier account in my systems for Toolbank Ltd?
We are renaming Curtis Holt Ltd to Toolbank Ltd and transferring the trade and assets of CA Clemson & Sons Ltd and Finnie & Co Ltd into Toolbank Ltd as going concerns. All existing orders, contracts, relationships etc transfer with the businesses into Toolbank Ltd. Wherever possible we request you to simply change the name and registered company no on the existing account in your systems.
What are the details of Toolbank Limited?
From 1st April 2025 the details of Toolbank Limited will be:
Registered in England and Wales No. 00529964
Registered Office: Long Reach, Galleon Boulevard, Crossways Business Park, Dartford, Kent DA2 6QE
VAT Registration No. 202 9347 83
I ran a search on registered company no 00529964 and it showed as Curtis Holt Ltd?
The name change from Curtis Holt Ltd to Toolbank Ltd is effective 1st April 2025. It will take about a week to be updated at Companies House, a further 24-48 hours to be updated in bank systems, and some credit reference agencies may take up to a month to pick up the update.
I ran a search on Toolbank Ltd and it showed as registered company no 04679597?
The company Toolbank Ltd has been registered by the group since 2003. The name change from Curtis Holt Ltd to Toolbank Ltd is effective 1st April 2025. It will take about a week to be updated at Companies House, a further 24-48 hours to be updated in bank systems, and some credit reference agencies may take up to a month to pick up the update.
I supply/buy from multiple branches and have multiple accounts in my system. How do I identify the accounts for each branch now you have a single legal entity?
We will include the name of the branch in brackets after the name of the company on invoices, statements and other documents we send you eg Toolbank Limited (Southampton) or Toolbank Limited trading as Toolbank Glasgow. The legal entity you are trading with from 1 April 2025 will be Toolbank Limited.
I need to renegotiate the terms of our contract with Curtis Holt Ltd as you have changed names?
We are simply changing the name of Curtis Holt Ltd to Toolbank Ltd. Legal contracts are with the business, identified by the registered company no, rather than the name. This does not trigger a “change of control” as these branches were previously and remain wholly owned subsidiaries of Dormole Ltd and there is no change in the shareholdings of Dormole Ltd. All previous contracts remain legally valid/enforceable in both directions. Our intention and expectation is to continue trading on the same terms as before this administrative change.
I need to renegotiate the terms of our contract with CA Clemson & Sons Ltd or Finnie & Co Ltd now it is with Toolbank Ltd?
We are transferring the trade and assets of CA Clemson & Sons Ltd and Finnie & Co Ltd into Toolbank Ltd as a going concern, including all existing contracts, relationships and orders etc. This is not a “change of control” of the businesses as these branches were previously and remain wholly owned subsidiaries of Dormole Ltd and there is no change in the shareholdings of Dormole Ltd. Our intention and expectation is to continue trading on the same terms as before this administrative change.
Toolbank ordered goods/services from me already and those goods will be invoiced to Curtis Holt Ltd / CA Clemson & Sons Ltd / Finnie & Co Ltd do I need to credit and re-invoice Toolbank Ltd?
Back orders are ok to invoice to the old legal entities. If invoices do not show correct details HMRC may impose VAT penalties. There is some leniency in this situation, and it is common to take a month or two before all purchase invoices show correct details.
I need to run a credit check on Toolbank Limited to continue supplying?
The name change from Curtis Holt Ltd to Toolbank Ltd is effective 1st April 2025. It may take 24-48 hours to be updated in bank systems, a week to be updated at companies’ house, and some credit reference agencies may take up to a month to pick up the update. If you need to run a credit check now – you should run it against Curtis Holt Ltd.
I received payment by direct debit – what bank details should I use for the replacement direct debit?
There are no changes to bank details for customers/suppliers of Dormole Ltd or Curtis Holt Ltd at this time.
For suppliers of Finnie & Co Ltd and CA Clemson & Sons Ltd there are new bank details.
There will be three new virtual bank accounts set up for customers to pay in to. Details will be shared nearer to the time.
Why have I received notification that you have cancelled your direct debit payment to my company?
We have written to all overheads suppliers using the contact details held on systems to notify them of the change. We will cancel all direct debits on the old CA Clemson & Sons Ltd and Finnie & Co Ltd bank accounts over the next few weeks. In conjunction with our communication this will prompt suppliers to get in touch to set up new direct debits.
Updated 27/03/2025