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West Lancashire Forklift Company Ltd
Registered Number:06125555
For the year ended 28 February 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 28 February 2023
West Lancashire Forklift Company Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
06125555
As at 28 February 2023
West Lancashire Forklift Company Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
114,462
116,077
2
114,462
116,077
Current assets
Inventories
10,000
10,000
3
Trade and other receivables
26,056
24,127
4
61,247
Cash and cash equivalents
60,987
95,114
97,303
Trade and other payables: amounts falling due within one year
(207,378)
(208,972)
5
(110,075)
(113,858)
Net current liabilities
Total assets less current liabilities
604
6,002
604
Net assets
6,002
Capital and reserves
Called up share capital
100
100
Retained earnings
504
5,902
604
6,002
Shareholders' funds
For the year ended 28 February 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Keith Ellis Director
These financial statements were approved and authorised for issue by the Board on 27 November 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 28 February 2023
West Lancashire Forklift Company Ltd
Notes to the Financial Statements
Statutory Information
West Lancashire Forklift Company Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 06125555.
Registered address:
Pendle Place
West Pimbo
Skelmersdale
Lancashire
WN8 9AN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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 basis:
Land and buildings
2% Straight line
Plant and machinery
15% Reducing balance
25% Reducing balance
Computer equipment
15% Reducing balance
Fixtures and fittings
Inventories
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 28 February 2023
West Lancashire Forklift Company Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Plant and
machinery
Land and
buildings
£
£
£
£
£
Cost or valuation
At 01 March 2022
227,026
5,493
2,789
68,744
150,000
3,831
358
-
3,473
-
Additions
At 28 February 2023
72,217
2,789
5,851
230,857
150,000
Provision for depreciation and impairment
At 01 March 2022
110,949
3,748
1,630
60,571
45,000
Charge for year
5,446
525
174
1,747
3,000
At 28 February 2023
116,395
4,273
1,804
62,318
48,000
At 28 February 2023
Net book value
102,000
9,899
985
1,578
114,462
At 28 February 2022
105,000
8,173
1,159
1,745
116,077
3. Inventories
2022
2023
£
£
Stocks
10,000
10,000
4. Trade and other receivables
2022
2023
£
£
Trade debtors
24,127
26,056
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
1,921
3,115
Taxation and social security
25,649
20,701
Other creditors
181,402
183,562
208,972
207,378
6. Average number of persons employed
During the year the average number of employees was 3 (2022 : 3)
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