REGISTERED NUMBER: |
GREEN POWER FORKLIFTS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023 |
REGISTERED NUMBER: |
GREEN POWER FORKLIFTS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023 |
GREEN POWER FORKLIFTS LTD (REGISTERED NUMBER: 13398009) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 June 2022 to 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GREEN POWER FORKLIFTS LTD |
COMPANY INFORMATION |
for the period 1 June 2022 to 31 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
100 Boldmere Road |
Sutton Coldfield |
West Midlands |
B73 5UB |
GREEN POWER FORKLIFTS LTD (REGISTERED NUMBER: 13398009) |
BALANCE SHEET |
31 March 2023 |
31/3/23 | 31/5/22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
GREEN POWER FORKLIFTS LTD (REGISTERED NUMBER: 13398009) |
BALANCE SHEET - continued |
31 March 2023 |
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 |
GREEN POWER FORKLIFTS LTD (REGISTERED NUMBER: 13398009) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 June 2022 to 31 March 2023 |
1. | STATUTORY INFORMATION |
Green Power Forklifts Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounting period was shortened from 31 May 2023 to 31 March 2023 to bring the company's financial period in line with that of a related party. Therefore the comparative figures are not entirely comparable. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods. |
Turnover from the rendering of services and equipment hire is recognised in the income statement in the period to which it relates. |
Turnover from the supply of warranties is recognised in the income statement on a straight line basis over the period to which the warranty relates. Costs incurred for work undertaken in relation to warranties are recognised as an expense in the period in which they are incurred. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Taxation |
Taxation for the period 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. |
GREEN POWER FORKLIFTS LTD (REGISTERED NUMBER: 13398009) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 June 2022 to 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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 |
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. |
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 period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 June 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for period |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 May 2022 |
Included in fixed assets is equipment that is rented out with a value of £116,849 (2022: £Nil). |
GREEN POWER FORKLIFTS LTD (REGISTERED NUMBER: 13398009) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 June 2022 to 31 March 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
Additions |
At 31 March 2023 |
DEPRECIATION |
Charge for period |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/23 | 31/5/22 |
£ | £ |
Trade debtors |
Corporation tax recoverable |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/23 | 31/5/22 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Corporation tax payable |
Social security & other taxes |
VAT |
Other creditors |
Wages control |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/23 | 31/5/22 |
£ | £ |
Hire purchase contracts |
GREEN POWER FORKLIFTS LTD (REGISTERED NUMBER: 13398009) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 June 2022 to 31 March 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/3/23 | 31/5/22 |
£ | £ |
Hire purchase contracts | 118,394 | - |
The hire purchase creditor is secured upon the asset to which it relates. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/23 | 31/5/22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RELATED PARTY DISCLOSURES |
During the period, the company operated from premises owned by a company under common control, for which a management charge of £3,666 (2022: £Nil) has been paid, This company has also provided the company with the use of a vehicle. No charge has been made for the use of the vehicle. |
The related party has provided a guarantee in favour of Allica Financial Services Limited for all amounts outstanding by Green Power Forklifts Ltd. At 31 March 2023, the amounts due to Allicia Financial Services Limited are £118,394. |