Pallet Truck Services (Sussex) Limited
Statement of financial position
as at 30 June 2023
Intangible assets
6,000
12,000
Tangible assets
394,973
423,840
Inventories
73,597
135,031
Cash at bank and in hand
211,913
77,888
Creditors: amounts falling due within one year
(156,824)
(198,162)
Net current assets
198,245
124,313
Total assets less current liabilities
599,218
560,153
Provisions for liabilities
Deferred tax
(86,375)
(72,912)
Net assets
512,843
487,241
Called up share capital
100
100
Profit and loss account
512,743
487,141
Shareholders' funds
512,843
487,241
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by
Ian Rampton
Director
Company Registration No. 08568704
Pallet Truck Services (Sussex) Limited
Notes to the Accounts
for the year ended 30 June 2023
Pallet Truck Services (Sussex) Limited is a private company, limited by shares, registered in England and Wales, registration number 08568704. The registered office is Oldstock, Marringdean Road, Billingshurst, RH14 9HE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% and 25% of net book value
Motor vehicles
25% of net book value
Computer equipment
25% of net book value
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Pallet Truck Services (Sussex) Limited
Notes to the Accounts
for the year ended 30 June 2023
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2022
508,199
76,987
16,753
601,939
Additions
40,380
-
-
40,380
Disposals
(22,357)
-
-
(22,357)
At 30 June 2023
526,222
76,987
16,753
619,962
At 1 July 2022
140,575
27,360
10,164
178,099
Charge for the year
38,775
12,407
1,714
52,896
On disposals
(6,006)
-
-
(6,006)
At 30 June 2023
173,344
39,767
11,878
224,989
At 30 June 2023
352,878
37,220
4,875
394,973
At 30 June 2022
367,624
49,627
6,589
423,840
Amounts falling due within one year
Trade debtors
64,011
103,428
Accrued income and prepayments
5,548
4,718
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
5,271
15,530
Taxes and social security
39,119
12,707
Other creditors
23,312
22,084
Loans from directors
71,044
136,978
8
Average number of employees
During the year the average number of employees was 6 (2022: 5).