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REGISTERED NUMBER: 01394460 (England and Wales)











Brindley Lift Truck Services Limited

Financial Statements

for the Year Ended 31 October 2023






Brindley Lift Truck Services Limited (Registered number: 01394460)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Brindley Lift Truck Services Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: R J Hayes
S W Bryan



SECRETARY: R J Hayes



REGISTERED OFFICE: Unit F4, Aston Lane
Sharnford
Hinckley
Leicestershire
LE10 3PA



REGISTERED NUMBER: 01394460 (England and Wales)



AUDITORS: Haines Watts Tamworth Limited
Chartered Accountants and Statutory Auditors
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF



BANKERS: HSBC
2-6 Gallowtree Gate
Leicester
LE1 1DA

Brindley Lift Truck Services Limited (Registered number: 01394460)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 536,311 542,430

CURRENT ASSETS
Debtors 5 826,853 871,932
Cash at bank and in hand 214,475 247,689
1,041,328 1,119,621
CREDITORS
Amounts falling due within one year 6 249,431 289,751
NET CURRENT ASSETS 791,897 829,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,328,208

1,372,300

CREDITORS
Amounts falling due after more than one year 7 (54,999 ) (77,564 )

PROVISIONS FOR LIABILITIES (130,991 ) (105,557 )
NET ASSETS 1,142,218 1,189,179

CAPITAL AND RESERVES
Called up share capital 10 30,000 30,000
Retained earnings 1,112,218 1,159,179
SHAREHOLDERS' FUNDS 1,142,218 1,189,179

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 12 February 2024 and were signed on its behalf by:





S W Bryan - Director


Brindley Lift Truck Services Limited (Registered number: 01394460)

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


1. STATUTORY INFORMATION

Brindley Lift Truck Services 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgement, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

In preparing these financial statements the directors have made judgements including:

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Leasing obligations

Determine whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements, and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

Provisions

A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

Sales ledger bad debt provisions

Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement.

Brindley Lift Truck Services Limited (Registered number: 01394460)

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


2. ACCOUNTING POLICIES - continued

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

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery20% reducing balance
Fixtures, fittings & equipment15% reducing balance
Motor vehicles25% reducing balance

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are
measured initially at fair value, net of transaction costs, and are measured subsequently at
amortised cost using the effective interest method, less any impairment.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank
loans, are measured initially at fair value, net of transaction costs, and are measured subsequently
at amortised cost using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without
penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that
mature in no more than three months from the date of acquisition and that are readily convertible to
known amounts of cash with insignificant risk of change in 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.

Brindley Lift Truck Services Limited (Registered number: 01394460)

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


2. ACCOUNTING POLICIES - continued

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 and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals paid under operating leases are charged to the profit and 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 14 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 1,937,732
Additions 214,530
Disposals (320,337 )
At 31 October 2023 1,831,925
DEPRECIATION
At 1 November 2022 1,395,302
Charge for year 128,692
Eliminated on disposal (228,380 )
At 31 October 2023 1,295,614
NET BOOK VALUE
At 31 October 2023 536,311
At 31 October 2022 542,430


5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 173,163 209,037
Other debtors - 9,205
173,163 218,242

Brindley Lift Truck Services Limited (Registered number: 01394460)

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


5. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 653,690 653,690

Aggregate amounts 826,853 871,932

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 82,290 84,365
Trade creditors 99,330 110,285
Taxation and social security 55,577 74,120
Other creditors 12,234 20,981
249,431 289,751

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 54,999 77,564

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 82,290 84,365
Between one and five years 54,999 77,564
137,289 161,929

Non-cancellable operating leases
2023 2022
£    £   
Within one year 45,051 55,169
Between one and five years 69,463 114,514
114,514 169,683

Brindley Lift Truck Services Limited (Registered number: 01394460)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 137,289 161,929

Hire purchase liabilities are secured by way of a charge over the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20,000 Ordinary A £1 20,000 20,000
10,000 Ordinary B £1 10,000 10,000
30,000 30,000

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

The Report of the Auditors was unqualified.

Stephen Butler FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts Tamworth Limited

12. RELATED PARTY DISCLOSURES

A loan has been made to the parent company, interest is not being charged on this balance. At the balance sheet date the amount outstanding was £653,690 (2022: £653,690).