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REGISTERED NUMBER: 02738543 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

HANDLING TRUCK SERVICES LIMITED

HANDLING TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02738543)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HANDLING TRUCK SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2022







DIRECTORS: G Liscio
P Liscio
S Liscio





REGISTERED OFFICE: Unit A, Cradock Road
Luton
Bedfordshire
LU4 0JF





REGISTERED NUMBER: 02738543 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

HANDLING TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02738543)

BALANCE SHEET
31 OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 960,365 854,740

CURRENT ASSETS
Stocks 431,276 175,002
Debtors 6 551,431 419,371
Cash at bank and in hand 345,355 263,812
1,328,062 858,185
CREDITORS
Amounts falling due within one year 7 843,515 337,063
NET CURRENT ASSETS 484,547 521,122
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,444,912

1,375,862

CREDITORS
Amounts falling due after more than one
year

8

(585,476

)

(544,491

)

PROVISIONS FOR LIABILITIES (148,134 ) (111,864 )
NET ASSETS 711,302 719,507

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 711,202 719,407
SHAREHOLDERS' FUNDS 711,302 719,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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.

HANDLING TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02738543)

BALANCE SHEET - continued
31 OCTOBER 2022


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 12 October 2023 and were signed on its behalf by:





G Liscio - Director


HANDLING TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02738543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022


1. STATUTORY INFORMATION

Handling Truck Services 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover represents the value, excluding value added tax, of goods and services supplied to customers during the year. A sale is recognised when revenue and associated costs can be measured reliably and future economic benefits are probable. Revenue is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of discounts and VAT.

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.
Plant and machinery - 20% on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 20% on cost

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 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.

HANDLING TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02738543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


3. 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.

DEBTORS RECEIVABLE AND CREDITORS PAYABLE
Debtors and creditors with no stated interest rate and receivable or payable within or after one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

GOVERNMENT GRANTS
Government grants are recognised in the Income Statement so as to match them with the expenditure towards which they are intended to contribute.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2021 - 12 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2021 1,883,343 80,758 193,629 2,157,730
Additions 238,397 6,315 181,683 426,395
Disposals (47,522 ) - - (47,522 )
At 31 October 2022 2,074,218 87,073 375,312 2,536,603
DEPRECIATION
At 1 November 2021 1,130,764 66,948 105,278 1,302,990
Charge for year 263,509 8,458 36,657 308,624
Eliminated on disposal (35,376 ) - - (35,376 )
At 31 October 2022 1,358,897 75,406 141,935 1,576,238
NET BOOK VALUE
At 31 October 2022 715,321 11,667 233,377 960,365
At 31 October 2021 752,579 13,810 88,351 854,740

HANDLING TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02738543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2021 354,314 21,211 375,525
Additions - 177,155 177,155
Transfer to ownership (61,750 ) (21,211 ) (82,961 )
At 31 October 2022 292,564 177,155 469,719
DEPRECIATION
At 1 November 2021 142,592 11,313 153,905
Charge for year 55,803 18,160 73,963
Transfer to ownership (36,075 ) (13,434 ) (49,509 )
At 31 October 2022 162,320 16,039 178,359
NET BOOK VALUE
At 31 October 2022 130,244 161,116 291,360
At 31 October 2021 211,722 9,898 221,620

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 488,446 255,650
Directors' current accounts 7,007 80,741
Tax 48,920 65,241
Prepayments 7,058 17,739
551,431 419,371

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 38,001 34,047
Hire purchase contracts and finance leases (see note 9)
82,543

87,573
Trade creditors 310,350 158,864
Social security and other taxes 14,373 10,406
VAT 54,305 42,332
Other creditors 3,460 1,235
Directors' current accounts 332,950 -
Accrued expenses 7,533 2,606
843,515 337,063

HANDLING TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02738543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years 27,312 34,821
Bank loans - 2-5 years 94,653 109,285
Bank loans more than 5 years 263,645 278,236
Hire purchase contracts and finance leases (see note 9)
199,866

122,149
585,476 544,491

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 263,645 278,236
Hire purchase 26,929 -
290,574 278,236

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
Finance leases
2022 2021 2022 2021
£    £    £    £   
Gross obligations repayable:
Within one year 87,195 90,996 8,309 7,636
Between one and five years 192,708 119,784 11,334 19,643
In more than five years 32,505 - - -
312,408 210,780 19,643 27,279

Finance charges repayable:
Within one year 12,961 11,059 - -
Between one and five years 31,105 17,278 - -
In more than five years 5,576 - - -
49,642 28,337 - -

Net obligations repayable:
Within one year 74,234 79,937 8,309 7,636
Between one and five years 161,603 102,506 11,334 19,643
In more than five years 26,929 - - -
262,766 182,443 19,643 27,279

As at 31 October 2022, the company had operating lease commitments of £33,000 (2021 - £112,200) relating to a property which expires in March 2023 and £43,629 (2021 - £75,169) relating to vehicles which expire in December 2023 and March 2025.

HANDLING TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02738543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 423,611 456,389
Hire purchase contracts and finance leases 282,409 209,722
706,020 666,111

Hire purchase contracts are secured over the individual assets to which they relate.

The bank loan is secured by a fixed and a floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2022 and 31 October 2021:

2022 2021
£    £   
G Liscio and S Liscio
Balance outstanding at start of year 80,741 150,741
Amounts repaid (80,741 ) (70,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 80,741

P Liscio
Balance outstanding at start of year - -
Amounts advanced 7,007 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,007 -

No interest was charged on these advances and they are repayable on demand.