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REGISTERED NUMBER: 05364116 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

H G WOOD LIFT TRUCKS LIMITED

H G WOOD LIFT TRUCKS LIMITED (REGISTERED NUMBER: 05364116)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

H G WOOD LIFT TRUCKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: D P Wood





SECRETARY: Mrs L Wood





REGISTERED OFFICE: 125 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QY





REGISTERED NUMBER: 05364116 (England and Wales)





ACCOUNTANTS: Walker Begley Limited
Chartered Accountants
207 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QL

H G WOOD LIFT TRUCKS LIMITED (REGISTERED NUMBER: 05364116)

ABRIDGED BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,976,310 2,203,804
1,976,310 2,203,804

CURRENT ASSETS
Stocks 1,700 1,700
Debtors 666,039 570,209
Cash at bank and in hand 264,515 302,064
932,254 873,973
CREDITORS
Amounts falling due within one year 1,031,003 960,626
NET CURRENT LIABILITIES (98,749 ) (86,653 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,877,561

2,117,151

CREDITORS
Amounts falling due after more than one
year

(701,574

)

(875,352

)

PROVISIONS FOR LIABILITIES (311,444 ) (353,199 )
NET ASSETS 864,543 888,600

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 864,443 888,500
SHAREHOLDERS' FUNDS 864,543 888,600

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

H G WOOD LIFT TRUCKS LIMITED (REGISTERED NUMBER: 05364116)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 May 2023 and were signed by:





D P Wood - Director


H G WOOD LIFT TRUCKS LIMITED (REGISTERED NUMBER: 05364116)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

H G Wood 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 20% on cost and at variable rates 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.

H G WOOD LIFT TRUCKS LIMITED (REGISTERED NUMBER: 05364116)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 7,500
AMORTISATION
At 1 April 2022
and 31 March 2023 7,500
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 4,375,035
Additions 333,275
Disposals (286,407 )
At 31 March 2023 4,421,903
DEPRECIATION
At 1 April 2022 2,171,231
Charge for year 500,938
Eliminated on disposal (226,576 )
At 31 March 2023 2,445,593
NET BOOK VALUE
At 31 March 2023 1,976,310
At 31 March 2022 2,203,804

H G WOOD LIFT TRUCKS LIMITED (REGISTERED NUMBER: 05364116)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022 3,102,741
Additions 330,870
Disposals (173,721 )
At 31 March 2023 3,259,890
DEPRECIATION
At 1 April 2022 1,474,337
Charge for year 446,609
Eliminated on disposal (137,077 )
At 31 March 2023 1,783,869
NET BOOK VALUE
At 31 March 2023 1,476,021
At 31 March 2022 1,628,404

6. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Bank loans 315,921 373,766
Hire purchase contracts 836,074 1,037,611
1,151,995 1,411,377

7. ULTIMATE CONTROLLING PARTY

The director, Mr D P Wood, ultimately controls the company by virtue of his beneficial interest in 100% of the company's ordinary share capital.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
H G WOOD LIFT TRUCKS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H G Wood Lift Trucks Limited for the year ended 31 March 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of H G Wood Lift Trucks Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of H G Wood Lift Trucks Limited and state those matters that we have agreed to state to the director of H G Wood Lift Trucks Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H G Wood Lift Trucks Limited and its director for our work or for this report.

It is your duty to ensure that H G Wood Lift Trucks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of H G Wood Lift Trucks Limited. You consider that H G Wood Lift Trucks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of H G Wood Lift Trucks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Walker Begley Limited
Chartered Accountants
207 Knutsford Road
Grappenhall
Warrington
Cheshire
WA4 2QL


22 May 2023