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REGISTERED NUMBER: 05704176 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

London Integrated Forklift Trucks
Limited

London Integrated Forklift Trucks
Limited (Registered number: 05704176)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


London Integrated Forklift Trucks
Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: C J Byrne





SECRETARY:





REGISTERED OFFICE: 6 High Street
Wheathampstead
Hertfordshire
AL4 8AA





REGISTERED NUMBER: 05704176 (England and Wales)





ACCOUNTANTS: Fenlon & Co
Chartered Certified Accountants
6 High Street
Wheathampstead
Hertfordshire
AL4 8AA

London Integrated Forklift Trucks
Limited (Registered number: 05704176)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,057 43,409

CURRENT ASSETS
Stocks 1,750 6,050
Debtors 5 4,328 5,688
Cash at bank 6,875 26,686
12,953 38,424
CREDITORS
Amounts falling due within one year 6 17,875 44,468
NET CURRENT LIABILITIES (4,922 ) (6,044 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,135

37,365

CREDITORS
Amounts falling due after more than
one year

7

(210

)

(3,576

)

PROVISIONS FOR LIABILITIES 8 (4,800 ) (7,600 )
NET ASSETS 18,125 26,189

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 17,125 25,189
SHAREHOLDERS' FUNDS 18,125 26,189

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

London Integrated Forklift Trucks
Limited (Registered number: 05704176)

Balance Sheet - continued
31 December 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 director and authorised for issue on 28 September 2023 and were signed by:





C J Byrne - Director


London Integrated Forklift Trucks
Limited (Registered number: 05704176)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

London Integrated Forklift Trucks Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is 6 High Street, Wheathampstead, Hertfordshire, AL4 8AA.

The financial statements are presented in Sterling, which is the functional currency of the company.

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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets & depreciation
Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Van - 25% Reducing Balance
Equipment - 25% Reducing Balance

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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

London Integrated Forklift Trucks
Limited (Registered number: 05704176)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Assets brought on hire purchase contracts
Assets held under hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2022 183,918 16,280 200,198
Additions 2,750 - 2,750
Disposals (38,224 ) - (38,224 )
At 31 December 2022 148,444 16,280 164,724
DEPRECIATION
At 1 January 2022 142,139 14,650 156,789
Charge for year 8,944 407 9,351
Eliminated on disposal (29,473 ) - (29,473 )
At 31 December 2022 121,610 15,057 136,667
NET BOOK VALUE
At 31 December 2022 26,834 1,223 28,057
At 31 December 2021 41,779 1,630 43,409

The Net Book Value includes £7,474 (previous year: £14,643) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 4,328 5,411
Prepayments and accrued income - 277
4,328 5,688

London Integrated Forklift Trucks
Limited (Registered number: 05704176)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Hire purchase contracts 3,366 7,531
Tax 977 3,508
Social security and other taxes 7,704 10,921
Directors' loan accounts 3,597 20,087
Accruals and deferred income 2,231 2,421
17,875 44,468

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.22 31.12.21
£    £   
Hire purchase contracts 210 3,576

Repayable within three years

8. PROVISIONS FOR LIABILITIES
31.12.22 31.12.21
£    £   
Deferred tax 4,800 7,600

Deferred
tax
£   
Balance at 1 January 2022 7,600
Utilised during year (2,800 )
Balance at 31 December 2022 4,800

The deferred tax provision relates to Capital Allowances on the purchase of equipment being in excess of depreciation provided in the Accounts

9. RELATED PARTY TRANSACTIONS

Included in Creditors at 31st December 2022 is £3,597 (2021 : £20,087) owed to the director, C J Byrne.