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REGISTERED NUMBER: SC386334 (Scotland)















Financial Statements

for the Year Ended 31 March 2023

for

Forkers Scotland Ltd

Forkers Scotland Ltd (Registered number: SC386334)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Forkers Scotland Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Ms H Boyle
Ms R Curran
T P Forker
G C Miller



SECRETARIES: Ms H Boyle
Ms R Curran



REGISTERED OFFICE: 40c Drakemyre
Dalry
North Ayrshire
KA24 5JE



REGISTERED NUMBER: SC386334 (Scotland)



AUDITORS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD



BANKERS: Handelsbanken
67 Temple Row
Bimringham
West Midlands
B2 5LS



SOLICITORS: Wright Hassall LLP
Olympus Avenue
Leamington Spa
Warwickshire
CV34 6BF

Forkers Scotland Ltd (Registered number: SC386334)

Balance Sheet
31 March 2023

2023 2022
as restated
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 653 816

CURRENT ASSETS
Inventories 5 118,301 125,667
Debtors 6 595,799 723,469
Cash at bank and in hand 216,662 84,834
930,762 933,970
CREDITORS
Amounts falling due within one year 7 (1,619,214 ) (1,130,910 )
NET CURRENT LIABILITIES (688,452 ) (196,940 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(687,799

)

(196,124

)

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (687,899 ) (196,224 )
SHAREHOLDERS' FUNDS (687,799 ) (196,124 )

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 31 October 2023 and were signed on its behalf by:





Ms H Boyle - Director


Forkers Scotland Ltd (Registered number: SC386334)

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

1. STATUTORY INFORMATION

Forkers Scotland Ltd is a private company, limited by shares , registered in Scotland. 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.

Going concern
The company is currently reporting net liabilities of £687,799 (2022 as restated: £196,124).
Liabilities due to the company's parent company Forkers Limited and all related companies amount to £802,108 at the Balance Sheet date. The company's parent company and related companies have agreed that only when funds come available, after discharging amounts due to creditors will they withdraw monies from the company to reduce this indebtedness. This agreement has been made to help the company manage it's cashflows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Turnover from contracts for the provision of construction services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Contract costs
Contract costs are recognised as expenses in the period in which they are incurred. When costs are incurred in securing a contract they are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Forkers Scotland Ltd (Registered number: SC386334)

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

2. ACCOUNTING POLICIES - continued

Stock and work in progress
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in the profit or loss.

Work in progress is valued at the lower of cost and net realisable value.

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.

Hire purchase and leasing commitments
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 34 (2022 - 33 ) .

Forkers Scotland Ltd (Registered number: SC386334)

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

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 8,273
DEPRECIATION
At 1 April 2022 7,457
Charge for year 163
At 31 March 2023 7,620
NET BOOK VALUE
At 31 March 2023 653
At 31 March 2022 816

5. INVENTORIES
2023 2022
as restated
£    £   
Stocks 118,301 125,667

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 115,723 62,203
Amounts recoverable on contract 421,817 583,910
Other debtors 58,259 77,356
595,799 723,469

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors 142,901 122,474
Amounts owed to group undertakings 802,108 415,601
Amounts owed to associates 517,947 259,943
Taxation and social security 58,337 119,352
Other creditors 97,921 213,540
1,619,214 1,130,910

Forkers Scotland Ltd (Registered number: SC386334)

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

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
as restated
£    £   
Within one year - 3,545
Between one and five years - 904
- 4,449

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2022 (366,224 )
Prior year adjustment 170,000
(196,224 )
Deficit for the year (491,675 )
At 31 March 2023 (687,899 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Susanna D Ault FCCA ACA (Senior Statutory Auditor)
for and on behalf of Tomkinson Teal (Lichfield) LLP

Forkers Scotland Ltd (Registered number: SC386334)

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

12. RELATED PARTY DISCLOSURES

P.Forker Plant Hire Limited

Associated company


During the year the company entered into the following transactions on an open market basis with P.Forker Plant Hire Limited, a company of which the directors Mr P Forker, Mrs B Forker, Mrs H Boyle and Mrs R Curran are directors and shareholders.




Description of transaction Income Payments
2023 2022 2023 2022
£    £    £    £   
Purchases and expenses recharged 7,370 6,886 36,357 16,334
Hire, leasing and rents recharged - - 557,835 677,238

At 31st March 2023, the company owed P.Forker Plant Hire Limited £508,179 (2022: £259,943).

13. ULTIMATE CONTROLLING PARTY

H.R.F. Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The ultimate controlling party is Mr P and Mrs B Forker by virtue of their ownership of 100% of the issued ordinary voting share capital in the parent company.