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REGISTERED NUMBER: 01096495 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

P.L.P Lift Trucks Limited

P.L.P Lift Trucks Limited (Registered number: 01096495)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P.L.P Lift Trucks Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: P L Pleasants
Mrs J E Pleasants
J G Organ
R J Kalus
Mrs L K Holland





SECRETARY: Mrs J E Pleasants





REGISTERED OFFICE: Unit 3 Monksbridge Business Park
Monksbridge Road
Dinnington
Sheffield
S25 3QS





REGISTERED NUMBER: 01096495 (England and Wales)






P.L.P Lift Trucks Limited (Registered number: 01096495)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,649,429 1,232,638

CURRENT ASSETS
Stocks 120,804 106,900
Debtors 5 1,343,383 1,332,617
Cash at bank and in hand 311 24,019
1,464,498 1,463,536
CREDITORS
Amounts falling due within one year 6 536,069 653,890
NET CURRENT ASSETS 928,429 809,646
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,577,858

2,042,284

CREDITORS
Amounts falling due after more than one
year

7

(524,806

)

(290,413

)

PROVISIONS FOR LIABILITIES (250,722 ) (196,827 )
NET ASSETS 1,802,330 1,555,044

CAPITAL AND RESERVES
Called up share capital 6,609 6,609
Share premium 83,750 83,750
Revaluation reserve 9 173,681 173,681
Capital redemption reserve 5,987 5,987
Retained earnings 1,532,303 1,285,017
1,802,330 1,555,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

P.L.P Lift Trucks Limited (Registered number: 01096495)

Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 26 September 2023 and were signed on its behalf by:





J G Organ - Director


P.L.P Lift Trucks Limited (Registered number: 01096495)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

P.L.P Lift Trucks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - 2% on cost
Plant and machinery - at varying rates on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

P.L.P Lift Trucks Limited (Registered number: 01096495)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2022 27,339 2,175,343 192,388 158,007 2,553,077
Additions - 395,924 3,484 223,732 623,140
Disposals - (142,661 ) - (14,445 ) (157,106 )
At 31 May 2023 27,339 2,428,606 195,872 367,294 3,019,111
DEPRECIATION
At 1 June 2022 13,409 1,024,153 168,140 114,737 1,320,439
Charge for year 546 124,629 3,724 29,317 158,216
Eliminated on disposal - (94,871 ) - (14,102 ) (108,973 )
At 31 May 2023 13,955 1,053,911 171,864 129,952 1,369,682
NET BOOK VALUE
At 31 May 2023 13,384 1,374,695 24,008 237,342 1,649,429
At 31 May 2022 13,930 1,151,190 24,248 43,270 1,232,638

P.L.P Lift Trucks Limited (Registered number: 01096495)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2022 379,863 65,339 445,202
Additions 328,714 223,732 552,446
Transfer to ownership (47,937 ) (50,039 ) (97,976 )
At 31 May 2023 660,640 239,032 899,672
DEPRECIATION
At 1 June 2022 56,844 31,713 88,557
Charge for year 40,566 26,907 67,473
Transfer to ownership (17,811 ) (33,426 ) (51,237 )
At 31 May 2023 79,599 25,194 104,793
NET BOOK VALUE
At 31 May 2023 581,041 213,838 794,879
At 31 May 2022 323,019 33,626 356,645

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 384,618 465,154
Amounts owed by group undertakings 934,650 859,950
Other debtors 24,115 7,513
1,343,383 1,332,617

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 30,967 91,972
Hire purchase contracts 217,761 71,790
Trade creditors 250,225 371,432
Taxation and social security 22,959 97,790
Other creditors 14,157 20,906
536,069 653,890

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 60,000 90,000
Hire purchase contracts 464,806 200,413
524,806 290,413

P.L.P Lift Trucks Limited (Registered number: 01096495)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank overdraft 967 -
Bank loans 90,000 181,972
Hire purchase contracts 682,567 272,203
773,534 454,175

The company's hire purchase liabilities are secured against the assets being acquired.

The company's bank loan is secured against specific assets held within the fleet.

9. RESERVES
Revaluation
reserve
£   
At 1 June 2022
and 31 May 2023 173,681

10. RELATED PARTY DISCLOSURES

31.5.2331.5.22
££
Rent paid to related parties49,00049,000
Balance owing from the parent company934,650859,950

Related parties are companies in which a director is also a director or has a controlling interest.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by its parent company, PLP Lift Trucks (Holdings) Limited.

There is no ultimate controlling party.