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REGISTERED NUMBER: SC177091 (Scotland)









Strategic Report, Report of the Directors and

Financial Statements

For The Year Ended 31 July 2023

for

A.t. Best Handlers Limited

A.t. Best Handlers Limited (Registered number: SC177091)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Statement of Financial Position 11

Statement of Changes in Equity 12

Statement of Cash Flows 13

Notes to the Statement of Cash Flows 14

Notes to the Financial Statements 16


A.t. Best Handlers Limited

Company Information
For The Year Ended 31 July 2023







DIRECTORS: Mr Stuart Rose
Mr Richard Rose



REGISTERED OFFICE: Ninian Road
Brownsburn Industrial Estate
Airdrie
ML6 9SE



REGISTERED NUMBER: SC177091 (Scotland)



AUDITORS: Cahill Jack Associates Limited
Chartered Accountants and Statutory Auditors
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD



SOLICITORS: Murray Snell
Solicitors
40 North Castle Street
Edinburgh
EH2 3BN

A.t. Best Handlers Limited (Registered number: SC177091)

Strategic Report
For The Year Ended 31 July 2023

The directors present their strategic report for the year ended 31 July 2023.

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS
The directors are very happy with the results achieved by the company during the year and recognise the contributions made by all employees to achieve the outstanding levels of turnover and profit.

Below is a summary of the main key performance indicators (KPIs) from the amounts included within the financial statements:

2023 2022
Gross Profit % age 19.99% 23.76%
Net Profit before tax % age 5.36% 7.87%
Turnover £22.2m £16.4m
Net profit before tax £1,191k £1,292k
Net asset value £5.4m £4.7m
Closing Stock £8.1m £4.9m
Current asset ratio 1.05:1 1.12:1

As shown by the turnover and profit KPIs above, the turnover for the year increased by nearly £6m from last year's figure. The gross profit percentage decreased to 19.99% as compared to 23.76% which was due to the increased sales values for whole goods which have a lower gross profit percentage. Gross profit for the year increased by £541k with the increased turnover levels and sales values obtained during the year.

While the Covid 19 pandemic eased during the year, it still continued to impacted everyone and the business. Being part of the critical farm machinery supply chain, the company was still subjected to a number of significant challenges. Sales performance ceased to be impacted by the outbreak and in common with other suppliers, we continued to adapt our sites to keep our employees safe whilst still playing our part in ensuring continuity of supply within our industry. This challenge is ongoing and we remain vigilant to the possibility of further outbreaks.

The directors were very satisfied with the results for the year which still showed a healthy profit and balance sheet position..

During the year to 31 July 2023 the company continued to develop the new site in Edinburgh and enable the company to continue to supply to a wider area of customers for the years to come. This development has helped enhance the trading performance in the current year. In addition to this, the company secured another site in Ayr, with the intention to widen its geographical market to the surrounding areas there.


A.t. Best Handlers Limited (Registered number: SC177091)

Strategic Report
For The Year Ended 31 July 2023

PRINCIPAL RISKS AND UNCERTAINTIES, BUSINESS ENVIRONMENT AND STRATEGIC MANAGEMENT
The board of directors consider the major risk still facing the company to be the general risk of a repeat of the recent economic downturn. To mitigate any possible effects of this risk crystallising they continue to expand the company's products and customer base. In particular a new member of staff has been recruited in an attempt to boost industrial forklift sales.The directors continually monitor the company's progress and financial position through regular review of management accounting information.

The company has also mitigated the effects of more minor risks as follows:

The yard the business operates from is physically secured with cameras and fencing in place and all stock and assets are fully insured.

All vehicles and some of the machines held for hire or as stock are fitted with tracking devices to minimise the risk of losses through theft and misuse.

The company employs the services of a specialist HR and Health & Safety consultant to ensure all legal requirements in these areas are met.

The directors are involved directly with the operation of financial controls thereby mitigating the threat of internal fraud.

The main Manitou dealership contract has been in place since the company's incorporation and there is an excellent relationship with the manufacturer. With this in mind and the level of business the company generates for the dealer the directors consider the risk of this being withdrawn very minimal.

The new new information and accounts system installed previously continues to provides more accurate and up to date management information allowing the directors to maintain controls over all areas of the business.

FINANCIAL INSTRUMENTS
The directors have considered the risks involved with financial instruments utilised in the company as follows:

Bank loans and overdraft
The risk is considered low as the company have maintained a good working relationship with the Clydesdale Bank who offer these facilities and have complied with all banking requirements without defaults.

Trade debtors and creditors
The company also has a good working relationship with customers and suppliers ensuring credit terms are established and adhered to. The risk is therefore considered to be very low in respect of these financial instruments.

ON BEHALF OF THE BOARD:





Mr Richard Rose - Director


5 April 2024

A.t. Best Handlers Limited (Registered number: SC177091)

Report of the Directors
For The Year Ended 31 July 2023

The directors present their report with the financial statements of the company for the year ended 31 July 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of retail trading, repair and hire of rough terrain vehicles, access equipment, industrial forklifts and warehouse lifting equipment.

DIVIDENDS
Total dividends declared amounted to £90,000 for the year to 31 July 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2022 to the date of this report.

Mr Stuart Rose
Mr Richard Rose

POLITICAL DONATIONS AND EXPENDITURE
The company made donations totalling £7,0154 in the year to 31 July 2023 (2022 - £15,078).

DISCLOSURE IN THE STRATEGIC REPORT
The directors have chosen to set out the following information in the Strategic Report rather than in the Directors' Report:

Future developments
Review of the business
Risk and exposure in relation to the use of financial instruments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

A.t. Best Handlers Limited (Registered number: SC177091)

Report of the Directors
For The Year Ended 31 July 2023


AUDITORS
The auditors, Cahill Jack Associates Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr Richard Rose - Director


5 April 2024

Report of the Independent Auditors to the Members of
A.t. Best Handlers Limited

Opinion
We have audited the financial statements of A.t. Best Handlers Limited (the 'company') for the year ended 31 July 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 July 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
A.t. Best Handlers Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
A.t. Best Handlers Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity through communication with management and determined the most significant regulations included employment law, tax legislation, data protection laws, health and safety, bribery and corruption practices, and the Companies Act 2006.

Identified laws and regulations that were considered to have a possible direct material effect on the financial statements or the operations of the company, were communicated with the audit team who were instructed to remained alert for instances of non-compliance throughout the audit. We also ensured that the team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. Based on the results of our risk assessment, we designed our audit procedures to identify non-compliance with these laws and regulations by questioning management and those charged with governance and corroborated by review of board minutes, HMRC correspondence and regulatory bodies.

We also assessed the risks of material misstatement in respect of fraud through enquiries of management and those charged with governance augmented by discussions with the audit team at pre audit meetings. This included an assessment of internal controls used to mitigate risks of fraud. Audit procedures were also designed to identify the main areas of weakness and address any possible material misstatements in relation to fraud.

We also considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
A.t. Best Handlers Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr A Fraser (Senior Statutory Auditor)
for and on behalf of Cahill Jack Associates Limited
Chartered Accountants and Statutory Auditors
91 Alexander Street
Airdrie
North Lanarkshire
ML6 0BD

5 April 2024

A.t. Best Handlers Limited (Registered number: SC177091)

Statement of Comprehensive Income
For The Year Ended 31 July 2023

31.7.23 31.7.22
Notes £    £   

TURNOVER 22,228,083 16,427,270

Cost of sales 17,784,210 12,524,681
GROSS PROFIT 4,443,873 3,902,589

Administrative expenses 3,064,255 2,466,909
1,379,618 1,435,680

Other operating income 9,385 6,660
OPERATING PROFIT 5 1,389,003 1,442,340


Interest payable and similar expenses 6 197,652 150,144
PROFIT BEFORE TAXATION 1,191,351 1,292,196

Tax on profit 7 405,341 224,386
PROFIT FOR THE FINANCIAL YEAR 786,010 1,067,810

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

786,010

1,067,810

A.t. Best Handlers Limited (Registered number: SC177091)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 10,932,816 8,064,655
10,932,816 8,064,655

CURRENT ASSETS
Stocks 11 8,165,459 4,983,211
Debtors 12 1,650,369 683,518
Cash at bank 117,215 93,971
9,933,043 5,760,700
CREDITORS
Amounts falling due within one year 13 9,477,884 5,119,750
NET CURRENT ASSETS 455,159 640,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,387,975

8,705,605

CREDITORS
Amounts falling due after more than one
year

14

(4,635,882

)

(3,051,810

)

PROVISIONS FOR LIABILITIES 18 (1,320,013 ) (917,725 )
NET ASSETS 5,432,080 4,736,070

CAPITAL AND RESERVES
Called up share capital 19 80,000 80,000
Retained earnings 20 5,352,080 4,656,070
SHAREHOLDERS' FUNDS 5,432,080 4,736,070

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:





Mr Richard Rose - Director


A.t. Best Handlers Limited (Registered number: SC177091)

Statement of Changes in Equity
For The Year Ended 31 July 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2021 80,000 3,678,260 3,758,260

Changes in equity
Profit for the year - 1,067,810 1,067,810
Total comprehensive income - 1,067,810 1,067,810
Dividends - (90,000 ) (90,000 )
Balance at 31 July 2022 80,000 4,656,070 4,736,070

Changes in equity
Profit for the year - 786,010 786,010
Total comprehensive income - 786,010 786,010
Dividends - (90,000 ) (90,000 )
Balance at 31 July 2023 80,000 5,352,080 5,432,080

A.t. Best Handlers Limited (Registered number: SC177091)

Statement of Cash Flows
For The Year Ended 31 July 2023

31.7.23 31.7.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,662,099 1,461,104
Interest paid (40,986 ) (49,926 )
Interest element of hire purchase payments
paid

(156,666

)

(100,218

)
Tax paid (1,270 ) -
Net cash from operating activities 1,463,177 1,310,960

Cash flows from investing activities
Purchase of tangible fixed assets (1,973,873 ) (1,039,622 )
Sale of tangible fixed assets 3,840,079 2,918,848
Net cash from investing activities 1,866,206 1,879,226

Cash flows from financing activities
New loans in year 675,000 80,830
Loan repayments in year (521,116 ) (338,652 )
Capital repayments in year (3,337,237 ) (3,011,713 )
Amount introduced by directors 20,458 90,000
Amount withdrawn by directors - (85,029 )
Equity dividends paid (90,000 ) (90,000 )
Net cash from financing activities (3,252,895 ) (3,354,564 )

Increase/(decrease) in cash and cash equivalents 76,488 (164,378 )
Cash and cash equivalents at beginning of
year

2

40,727

205,105

Cash and cash equivalents at end of year 2 117,215 40,727

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Statement of Cash Flows
For The Year Ended 31 July 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.7.23 31.7.22
£    £   
Profit before taxation 1,191,351 1,292,196
Depreciation charges 1,193,896 894,690
Profit on disposal of fixed assets (539,224 ) (422,150 )
Finance costs 197,652 150,144
2,043,675 1,914,880
Increase in stocks (3,182,248 ) (287,741 )
(Increase)/decrease in trade and other debtors (966,851 ) 101,015
Increase/(decrease) in trade and other creditors 3,767,523 (267,050 )
Cash generated from operations 1,662,099 1,461,104

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 117,215 93,971
Bank overdrafts - (53,244 )
117,215 40,727
Year ended 31 July 2022
31.7.22 1.8.21
£    £   
Cash and cash equivalents 93,971 205,105
Bank overdrafts (53,244 ) -
40,727 205,105


A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Statement of Cash Flows
For The Year Ended 31 July 2023

3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.8.22 Cash flow changes At 31.7.23
£    £    £    £   
Net cash
Cash at bank
and in hand 93,971 23,244 117,215
Bank overdrafts (53,244 ) 53,244 -
40,727 76,488 117,215
Debt
Finance leases (3,555,450 ) 3,337,237 - (5,607,253 )
Debts falling due
within 1 year (235,911 ) 111,033 - (124,878 )
Debts falling due
after 1 year (384,984 ) (264,919 ) - (649,903 )
(4,176,345 ) 3,183,351 - (6,382,034 )
Total (4,135,618 ) 3,259,839 - (6,264,819 )

4. MAJOR NON-CASH TRANSACTIONS

Non-cash transactions represent new hire purchase agreements totalling £5,389,040.

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. COMPANY INFORMATION

A. T. Best Handlers Limited is a private company limited by shares, incorporated in Scotland with its registered office at Ninian Road, Brownsburn Industrial Estate, Airdre, ML6 9SE.

2. STATUTORY INFORMATION

A.t. Best Handlers Limited is a private company, limited by shares , registered in Scotland. 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 (£).


3. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made are described below:

Estimated useful lives and residual values of fixed assets
As described under the Tangible Fixed Asset heading of this accounting policies note, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as applicable. The reviews take into account estimated useful lives used by other companies operating within the same sector and actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Valuation of stock
Stock valuation uses estimations for provisions against old and obsolete items of stock .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 and in any future periods affected.

Debtors recoverability
For any balance considered irrecoverable, provision is made against the debtor. The remaining debtor balance at the year end not provided for, is therefore considered fully recoverable.


Going concern
The directors consider the going concern basis to be appropriate following their assessment of the group's financial position and its ability to meet its obligations as and when they fall due. In making the going concern assessment, the directors have taken into account the following:

The group has implemented stringent safeguards to ensure the safety of employees working within the factory and ensure that operations can continue while lockdown measures are in place.
Projections and management accounts prepared for the subsequent years show that the company will continue to meet its obligations as they fall due.

On that basis, the directors are satisfied that the going concern basis of preparation for the financial statements continues to be appropriate and the financial statements have been prepared accordingly.

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

3. ACCOUNTING POLICIES - continued

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods, short term hires under operating leases and from the rendering of services. The company also receives a small amount of rental income from the hire of yard space which is included in other operating income .

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Short term hire income
Hire income from operating leases is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase in line with expected general inflation in which case the income is recognised as revenue in accordance with the expected payments.

Rendering of services
Revenue from agreement to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the agreement.

Intangible fixed assets
Intangible fixed assets consist of computer software purchased and the associated costs to enable the operation of the new system including training and licences.

All intangible assets are measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation rates are as follows:

Computer software - 4 years

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than freehold land over their expected useful lives at the following rates:

Freehold property - 2% on reducing balance
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on cost and 10% on cost
Motor vehicles - 25% on reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, inventories are assessed for impairment. If inventory is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

3. ACCOUNTING POLICIES - continued

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 3 months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans, and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Other items
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Holiday pay
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

4. EMPLOYEES AND DIRECTORS
31.7.23 31.7.22
£    £   
Wages and salaries 1,267,312 1,109,430
Social security costs 130,347 107,234
Other pension costs 23,733 23,003
1,421,392 1,239,667

The average number of employees during the year was as follows:
31.7.23 31.7.22

Management and administration 20 11
Workshop and engineers 11 18
Sales 5 5
36 34

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

4. EMPLOYEES AND DIRECTORS - continued

31.7.23 31.7.22
£    £   
Directors' remuneration 84,833 81,882
Directors' pension contributions to money purchase schemes 1,321 1,318

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.7.23 31.7.22
£    £   
Other operating leases 2,043 6,461
Depreciation - owned assets 439,657 506,910
Depreciation - assets on hire purchase contracts 754,240 387,779
Profit on disposal of fixed assets (539,224 ) (422,150 )
Auditors' remuneration 4,000 4,000
Auditors' remuneration for non audit work 9,500 9,500

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.7.23 31.7.22
£    £   
Bank interest 26,529 39,035
Bank loan interest 12,970 10,891
Other interest paid 1,487 -
Hire purchase 156,666 100,218
197,652 150,144

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.7.23 31.7.22
£    £   
Current tax:
UK corporation tax 1,783 -
Corporation Tax for previous
year 1,270 -
Total current tax 3,053 -

Deferred tax 402,288 224,386
Tax on profit 405,341 224,386

8. DIVIDENDS
31.7.23 31.7.22
£    £   
Ordinary shares of £1 each
Final 90,000 90,000

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

9. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 August 2022
and 31 July 2023 36,102
AMORTISATION
At 1 August 2022
and 31 July 2023 36,102
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

10. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2022 1,293,859 8,122,093 230,109 860,374 10,506,435
Additions 641,765 6,416,297 12,933 291,918 7,362,913
Disposals - (4,076,820 ) - (44,209 ) (4,121,029 )
At 31 July 2023 1,935,624 10,461,570 243,042 1,108,083 13,748,319
DEPRECIATION
At 1 August 2022 145,387 1,783,327 70,757 442,309 2,441,780
Charge for year 16,789 998,531 23,403 155,174 1,193,897
Eliminated on disposal - (780,541 ) - (39,633 ) (820,174 )
At 31 July 2023 162,176 2,001,317 94,160 557,850 2,815,503
NET BOOK VALUE
At 31 July 2023 1,773,448 8,460,253 148,882 550,233 10,932,816
At 31 July 2022 1,148,472 6,338,766 159,352 418,065 8,064,655

Included in cost of land and buildings is freehold land of £ 362,500 (2022 - £ 362,500 ) which is not depreciated.

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

10. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2022 5,063,554 78,145 136,841 5,278,540
Additions 5,346,480 - - 5,346,480
Transfer to ownership (1,124,029 ) - (24,341 ) (1,148,370 )
At 31 July 2023 9,286,005 78,145 112,500 9,476,650
DEPRECIATION
At 1 August 2022 787,722 26,874 92,992 907,588
Charge for year 744,082 6,153 4,005 754,240
Transfer to ownership (203,462 ) - (13,863 ) (217,325 )
At 31 July 2023 1,328,342 33,027 83,134 1,444,503
NET BOOK VALUE
At 31 July 2023 7,957,663 45,118 29,366 8,032,147
At 31 July 2022 4,275,832 51,271 43,849 4,370,952

The gross amount of assets held for use in short term hires at the balance sheet date was £10,461,569 (2022: £8,122,092) and accumulated depreciation on these assets amounted to £2,001,317 (2022: £1,783,327).

11. STOCKS
31.7.23 31.7.22
£    £   
Wholegoods stock 7,130,295 3,826,047
Parts stock 1,035,164 1,157,164
8,165,459 4,983,211

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 1,351,720 736,397
Provision for bad debts (143,886 ) (143,886 )
VAT 405,357 61,604
Prepayments and accrued income 37,178 29,403
1,650,369 683,518

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts (see note 15) 48,667 94,911
Other loans (see note 15) 76,211 194,244
Hire purchase contracts (see note 16) 1,621,274 888,624
Trade creditors 7,405,638 3,796,897
Tax 1,783 -
Social security and other taxes 87,100 43,580
Other creditors 9,674 7,935
Directors' loan accounts 70,897 50,439
Accrued expenses 156,640 43,120
9,477,884 5,119,750

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans (see note 15) 610,840 269,710
Other loans (see note 15) 39,063 115,274
Hire purchase contracts (see note 16) 3,985,979 2,666,826
4,635,882 3,051,810

15. LOANS

An analysis of the maturity of loans is given below:

31.7.23 31.7.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 53,244
Bank loans 48,667 41,667
Other loans 76,211 194,244
124,878 289,155

Amounts falling due between one and two years:
Bank loans - 1-2 years 52,694 41,667
Other loans - 1-2 years 16,164 76,211
68,858 117,878

Amounts falling due between two and five years:
Bank loans - 2-5 years 158,081 125,000
Other loans - 2-5 years 22,899 39,063
180,980 164,063

Amounts falling due in more than five years:

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

15. LOANS - continued
31.7.23 31.7.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans > 5 yr by instal 400,065 103,043

16. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.7.23 31.7.22
£    £   
Net obligations repayable:
Within one year 1,621,274 888,624
Between one and five years 3,985,979 2,666,826
5,607,253 3,555,450

17. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank overdraft - 53,244
Bank loans 659,507 311,377
Other loans 115,274 309,518
Hire purchase contracts 5,607,253 3,555,450
6,382,034 4,229,589

Obligations under hire purchase contracts are secured against the assets to which they relate. In addition hire purchase balances are also secured by a floating charge over all assets and undertakings of the company..

The bank loans and overdraft are secured by a floating charge over the assets and undertakings of the company. In addition there is a standard security held over the company properties situated at Brownsburn Industrial Estate.

The CBIL loans, included within other loans are supported by a 80% guarantee from the UK Government.

18. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 1,320,013 917,725

Deferred
tax
£   
Balance at 1 August 2022 917,725
Accelerated capital allowances 402,288
Balance at 31 July 2023 1,320,013

A.t. Best Handlers Limited (Registered number: SC177091)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
80,000 Ordinary £1 80,000 80,000

The ordinary shares have full voting rights, are eligible for dividends and carry the right to participate in a distribution.

20. RESERVES
Retained
earnings
£   

At 1 August 2022 4,656,070
Profit for the year 786,010
Dividends (90,000 )
At 31 July 2023 5,352,080

21. RELATED PARTY DISCLOSURES

During the year, total dividends of £90,000 were paid to the directors .

During the year, a total of key management personnel compensation of £ 95,703 (2022 - £ 92,039 ) was paid.

22. ULTIMATE CONTROLLING PARTY

In the directors' opinion there is no ultimately controlling party.