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REGISTERED NUMBER: NI007122 (Northern Ireland)















Financial Statements

for the Year Ended 31 March 2023

for

Handling and Storage Equipment
Company Limited

Handling and Storage Equipment
Company Limited (Registered number: NI007122)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Handling and Storage Equipment
Company Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr Mark Robin Alexander
Mr David John Megrath
Mr Peter Alexander





REGISTERED OFFICE: Unit 20 Blaris Industrial Estate
Altona Road
Lisburn
Co. Antrim
BT27 5QB





REGISTERED NUMBER: NI007122 (Northern Ireland)





ACCOUNTANTS: McCleary & Company Ltd
Chartered Accountants
Garvey Studios
14 Longstone Street
Lisburn
Co. Antrim
BT28 1TP

Handling and Storage Equipment
Company Limited (Registered number: NI007122)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 167,239 115,137

CURRENT ASSETS
Stocks 551,741 742,590
Debtors 5 858,962 969,702
Cash at bank and in hand 361,008 588,143
1,771,711 2,300,435
CREDITORS
Amounts falling due within one year 6 (630,097 ) (1,079,787 )
NET CURRENT ASSETS 1,141,614 1,220,648
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,308,853

1,335,785

CREDITORS
Amounts falling due after more than one
year

7

(137,934

)

(242,681

)

PROVISIONS FOR LIABILITIES (25,552 ) (12,620 )
NET ASSETS 1,145,367 1,080,484

CAPITAL AND RESERVES
Called up share capital 500,100 500,100
Retained earnings 645,267 580,384
1,145,367 1,080,484

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 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 and Storage Equipment
Company Limited (Registered number: NI007122)

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.

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 25 October 2023 and were signed on its behalf by:





Mr Mark Robin Alexander - Director


Handling and Storage Equipment
Company Limited (Registered number: NI007122)

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

1. STATUTORY INFORMATION

Handling and Storage Equipment Company Limited is a private company, limited by shares , registered in Northern Ireland. 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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.

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 - 25% on cost

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Handling and Storage Equipment
Company Limited (Registered number: NI007122)

Notes to the Financial Statements - continued
for the Year Ended 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 29 ) .

Handling and Storage Equipment
Company Limited (Registered number: NI007122)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 435,675
Additions 112,215
Disposals (38,031 )
At 31 March 2023 509,859
DEPRECIATION
At 1 April 2022 320,538
Charge for year 60,113
Eliminated on disposal (38,031 )
At 31 March 2023 342,620
NET BOOK VALUE
At 31 March 2023 167,239
At 31 March 2022 115,137

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 486,302 556,985
Amounts owed by group undertakings 334,682 411,404
Other debtors 37,978 1,313
858,962 969,702

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 62,500 56,500
Hire purchase contracts 59,658 22,348
Trade creditors 352,479 832,149
Amounts owed to group undertakings 8,649 3,742
Taxation and social security 58,041 64,346
Other creditors 88,770 100,702
630,097 1,079,787

Handling and Storage Equipment
Company Limited (Registered number: NI007122)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 93,750 162,250
Hire purchase contracts 44,184 80,431
137,934 242,681

8. SECURED DEBTS

Under group banking arrangements group borrowings are secured by fixed charges over premises and book debts and by floating charges over other assets of the group companies and are repayable on demand.

9. CAPITAL COMMITMENTS
31.3.23 31.3.22
£    £   
Contracted but not provided for in the
financial statements 87,143 -

10. RELATED PARTY DISCLOSURES












Sales to Related
Parties





Management
Charges Paid
Loan Balances
owed to /
(by)Handling &
Storage
Equipment
Limited at Year
End
Trading Balances
owed to / (By)
Handling &
Storage
Equipment
Limited at Year
End
££££
Transactions with
controlling entity


184,000

334,682

Transactions with
other Related Parties

713,761


(8,649)


11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Alexander Group Holdings Limited.