2022-10-302023-10-292023-10-29false03594501ATLANTIC FORK LIFTS LIMITED2024-07-2933170iso4217:GBPxbrli:pure035945012022-10-30035945012023-10-29035945012022-10-302023-10-29035945012021-10-30035945012022-10-29035945012021-10-302022-10-2903594501bus:SmallEntities2022-10-302023-10-2903594501bus:AuditExempt-NoAccountantsReport2022-10-302023-10-2903594501bus:FullAccounts2022-10-302023-10-2903594501bus:PrivateLimitedCompanyLtd2022-10-302023-10-2903594501core:WithinOneYear2023-10-2903594501core:AfterOneYear2023-10-2903594501core:WithinOneYear2022-10-2903594501core:AfterOneYear2022-10-2903594501core:ShareCapital2023-10-2903594501core:SharePremium2023-10-2903594501core:RevaluationReserve2023-10-2903594501core:OtherReservesSubtotal2023-10-2903594501core:RetainedEarningsAccumulatedLosses2023-10-2903594501core:ShareCapital2022-10-2903594501core:SharePremium2022-10-2903594501core:RevaluationReserve2022-10-2903594501core:OtherReservesSubtotal2022-10-2903594501core:RetainedEarningsAccumulatedLosses2022-10-2903594501core:LandBuildings2023-10-2903594501core:PlantMachinery2023-10-2903594501core:Vehicles2023-10-2903594501core:FurnitureFittings2023-10-2903594501core:OfficeEquipment2023-10-2903594501core:NetGoodwill2023-10-2903594501core:IntangibleAssetsOtherThanGoodwill2023-10-2903594501core:ListedExchangeTraded2023-10-2903594501core:UnlistedNon-exchangeTraded2023-10-2903594501core:LandBuildings2022-10-2903594501core:PlantMachinery2022-10-2903594501core:Vehicles2022-10-2903594501core:FurnitureFittings2022-10-2903594501core:OfficeEquipment2022-10-2903594501core:NetGoodwill2022-10-2903594501core:IntangibleAssetsOtherThanGoodwill2022-10-2903594501core:ListedExchangeTraded2022-10-2903594501core:UnlistedNon-exchangeTraded2022-10-2903594501core:LandBuildings2022-10-302023-10-2903594501core:PlantMachinery2022-10-302023-10-2903594501core:Vehicles2022-10-302023-10-2903594501core:FurnitureFittings2022-10-302023-10-2903594501core:OfficeEquipment2022-10-302023-10-2903594501core:NetGoodwill2022-10-302023-10-2903594501core:IntangibleAssetsOtherThanGoodwill2022-10-302023-10-2903594501core:ListedExchangeTraded2022-10-302023-10-2903594501core:UnlistedNon-exchangeTraded2022-10-302023-10-2903594501core:MoreThanFiveYears2022-10-302023-10-2903594501core:Non-currentFinancialInstruments2023-10-2903594501core:Non-currentFinancialInstruments2022-10-2903594501dpl:CostSales2022-10-302023-10-2903594501dpl:DistributionCosts2022-10-302023-10-2903594501core:LandBuildings2022-10-302023-10-2903594501core:PlantMachinery2022-10-302023-10-2903594501core:Vehicles2022-10-302023-10-2903594501core:FurnitureFittings2022-10-302023-10-2903594501core:OfficeEquipment2022-10-302023-10-2903594501dpl:AdministrativeExpenses2022-10-302023-10-2903594501core:NetGoodwill2022-10-302023-10-2903594501core:IntangibleAssetsOtherThanGoodwill2022-10-302023-10-2903594501dpl:GroupUndertakings2022-10-302023-10-2903594501dpl:ParticipatingInterests2022-10-302023-10-2903594501dpl:GroupUndertakingscore:ListedExchangeTraded2022-10-302023-10-2903594501core:ListedExchangeTraded2022-10-302023-10-2903594501dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-10-302023-10-2903594501core:UnlistedNon-exchangeTraded2022-10-302023-10-2903594501dpl:CostSales2021-10-302022-10-2903594501dpl:DistributionCosts2021-10-302022-10-2903594501core:LandBuildings2021-10-302022-10-2903594501core:PlantMachinery2021-10-302022-10-2903594501core:Vehicles2021-10-302022-10-2903594501core:FurnitureFittings2021-10-302022-10-2903594501core:OfficeEquipment2021-10-302022-10-2903594501dpl:AdministrativeExpenses2021-10-302022-10-2903594501core:NetGoodwill2021-10-302022-10-2903594501core:IntangibleAssetsOtherThanGoodwill2021-10-302022-10-2903594501dpl:GroupUndertakings2021-10-302022-10-2903594501dpl:ParticipatingInterests2021-10-302022-10-2903594501dpl:GroupUndertakingscore:ListedExchangeTraded2021-10-302022-10-2903594501core:ListedExchangeTraded2021-10-302022-10-2903594501dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-10-302022-10-2903594501core:UnlistedNon-exchangeTraded2021-10-302022-10-2903594501core:NetGoodwill2023-10-2903594501core:IntangibleAssetsOtherThanGoodwill2023-10-2903594501core:LandBuildings2023-10-2903594501core:PlantMachinery2023-10-2903594501core:Vehicles2023-10-2903594501core:FurnitureFittings2023-10-2903594501core:OfficeEquipment2023-10-2903594501core:AfterOneYear2023-10-2903594501core:WithinOneYear2023-10-2903594501core:ListedExchangeTraded2023-10-2903594501core:UnlistedNon-exchangeTraded2023-10-2903594501core:ShareCapital2023-10-2903594501core:SharePremium2023-10-2903594501core:RevaluationReserve2023-10-2903594501core:OtherReservesSubtotal2023-10-2903594501core:RetainedEarningsAccumulatedLosses2023-10-2903594501core:NetGoodwill2022-10-2903594501core:IntangibleAssetsOtherThanGoodwill2022-10-2903594501core:LandBuildings2022-10-2903594501core:PlantMachinery2022-10-2903594501core:Vehicles2022-10-2903594501core:FurnitureFittings2022-10-2903594501core:OfficeEquipment2022-10-2903594501core:AfterOneYear2022-10-2903594501core:WithinOneYear2022-10-2903594501core:Liste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ATLANTIC FORK LIFTS LIMITED

Registered Number
03594501
(England and Wales)

Unaudited Financial Statements for the Year ended
29 October 2023

ATLANTIC FORK LIFTS LIMITED
Company Information
for the year from 30 October 2022 to 29 October 2023

Directors

Mr J L Gill
Mr L W Gill

Company Secretary

Mrs L Whent

Registered Address

Bel House
Fisher Street
Newcastle Upon Tyne
NE6 4LT

Registered Number

03594501 (England and Wales)
ATLANTIC FORK LIFTS LIMITED
Statement of Financial Position
29 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3645,119676,251
645,119676,251
Current assets
Stocks478,810499,887
Debtors4925,3481,136,319
Cash at bank and on hand418418
1,404,5761,636,624
Creditors amounts falling due within one year5(503,512)(814,746)
Net current assets (liabilities)901,064821,878
Total assets less current liabilities1,546,1831,498,129
Creditors amounts falling due after one year6(76,927)(97,407)
Provisions for liabilities7(153,600)(122,310)
Net assets1,315,6561,278,412
Capital and reserves
Called up share capital619,394619,394
Profit and loss account696,262659,018
Shareholders' funds1,315,6561,278,412
The financial statements were approved and authorised for issue by the Board of Directors on 29 July 2024, and are signed on its behalf by:
Mr L W Gill
Director
Registered Company No. 03594501
ATLANTIC FORK LIFTS LIMITED
Notes to the Financial Statements
for the year ended 29 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery6
Fixtures and fittings5
Vehicles5
Finance leases and hire purchase contracts
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20232022
Average number of employees during the year1314
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 30 October 22872,67192,03088,7151,053,416
Additions90,537-3,45493,991
Disposals(88,656)--(88,656)
At 29 October 23874,55292,03092,1691,058,751
Depreciation and impairment
At 30 October 22286,91350,12640,126377,165
Charge for year39,35013,2007,20059,750
On disposals(23,283)--(23,283)
At 29 October 23302,98063,32647,326413,632
Net book value
At 29 October 23571,57228,70444,843645,119
At 29 October 22585,75841,90448,589676,251
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables422,354584,228
Amounts owed by group undertakings343,182474,512
Prepayments and accrued income159,81277,579
Total925,3481,136,319
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables224,163353,266
Bank borrowings and overdrafts30,425120,157
Taxation and social security128,687146,035
Finance lease and HP contracts64,94777,714
Other creditors8,85469,116
Accrued liabilities and deferred income46,43648,458
Total503,512814,746
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Finance lease and HP contracts are secured on the assets to which they relate. Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts17,55927,998
Other creditors59,36869,409
Total76,92797,407
Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company. Finance lease and HP contracts are equal to £59,368 (2022 - £69,409) are included within other creditors and are secured against the assets to which they relate.
7.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made.

2023

2022

££
Net deferred tax liability (asset)153,600122,310
Total153,600122,310
8.Other commitments
At 29 October 2023 the company had future lease payments under non-cancellable operating leases of £158,763 (2022 - £262,403).
9.Parent-subsidiary relationships
As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. This company's parent undertaking is Servace Limited, a company registered in England, company number 03789141. The ultimate controlling party is Mr L W Gill by virtue of his majority shareholdings in Servace Limited.