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REGISTERED NUMBER: 06913326















Unaudited Financial Statements for the Year Ended 31 May 2023

for

AC Forklifts Limited

AC Forklifts Limited (Registered number: 06913326)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AC Forklifts Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: L Clark
G Clark
Mrs C A Clark





REGISTERED OFFICE: 44 Greenways
Standish
WIGAN
Lancashire
WN6 0AF





REGISTERED NUMBER: 06913326





ACCOUNTANTS: Ashford Rainham Limited
10-12 Upper Dicconson St
Wigan
Lancashire
WN1 2AD

AC Forklifts Limited (Registered number: 06913326)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 395,427 331,546
395,427 331,546

CURRENT ASSETS
Stocks 149,075 148,250
Debtors 6 82,625 103,973
Cash at bank 72,896 13,745
304,596 265,968
CREDITORS
Amounts falling due within one year 7 148,250 119,832
NET CURRENT ASSETS 156,346 146,136
TOTAL ASSETS LESS CURRENT
LIABILITIES

551,773

477,682

CREDITORS
Amounts falling due after more than one
year

8

(134,813

)

(149,708

)

PROVISIONS FOR LIABILITIES (75,035 ) (62,865 )
NET ASSETS 341,925 265,109

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 341,725 264,909
SHAREHOLDERS' FUNDS 341,925 265,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

AC Forklifts Limited (Registered number: 06913326)

Balance Sheet - continued
31 May 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 18 July 2023 and were signed on its behalf by:




L Clark - Director



G Clark - Director


AC Forklifts Limited (Registered number: 06913326)

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

1. STATUTORY INFORMATION

AC Forklifts Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 year was 5 (2022 - 5 ) .

AC Forklifts Limited (Registered number: 06913326)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 55,000
AMORTISATION
At 1 June 2022
and 31 May 2023 55,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 595,398
Additions 142,240
At 31 May 2023 737,638
DEPRECIATION
At 1 June 2022 263,852
Charge for year 78,359
At 31 May 2023 342,211
NET BOOK VALUE
At 31 May 2023 395,427
At 31 May 2022 331,546

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 81,061 101,789
Other debtors 1,564 2,184
82,625 103,973

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 78,703 74,611
Trade creditors 12,065 1,750
Taxation and social security 46,823 12,767
Other creditors 10,659 30,704
148,250 119,832

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 134,813 149,708