We excluded loose tools, stores and spares from inventories while calculating current assets because loose tools.., stores are intangible assets -those assets which can't be seen so, while calculating we excluded.

There could be several reasons why loose tools are excluded, such as:

1. Safety concerns: Loose tools can pose a safety hazard, especially if they are not stored properly or are left lying around. They can cause accidents, injuries, or damage to property.

2. Organization and efficiency: Excluding loose tools helps to maintain a more organized and efficient working environment. It ensures that the necessary tools are stored in designated places, making them easier to find when needed.

3. Accountability: By excluding loose tools, it becomes easier to track and monitor the tools that are being used. This helps to ensure that tools are not misplaced or lost, and allows for better accountability in terms of tool usage and maintenance.

4. Cost-effectiveness: Loose tools can be easily misplaced or damaged, leading to additional costs for replacement or repairs. By excluding loose tools, companies can reduce the risk of such costs and ensure that tools are properly maintained.

5. Professionalism: Keeping loose tools out of the work area can help to create a more professional and organized image. It shows that the company values safety, efficiency, and proper tool management.