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REGISTERED NUMBER: 03700201 (England and Wales)















Unaudited Financial Statements

for the Period 1 May 2022 to 27 April 2023

for

Angus Lift Trucks Limited

Angus Lift Trucks Limited (Registered number: 03700201)






Contents of the Financial Statements
for the Period 1 May 2022 to 27 April 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Angus Lift Trucks Limited

Company Information
for the Period 1 May 2022 to 27 April 2023







DIRECTOR: T Kendrew
S J Shakespeare
S Bhadal





REGISTERED OFFICE: Sheets Stores Industrial Estate
Fields Farm Road
Long Eaton
Nottingham
NG10 1AU





BUSINESS ADDRESS: Unit 10 - 12
Lime Kilns Business Park
Lime Kilns Way
Hinckley
Leicestershire
LE10 3EL





REGISTERED NUMBER: 03700201 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

Angus Lift Trucks Limited (Registered number: 03700201)

Statement of Financial Position
27 April 2023

27.4.23 30.4.22 1.5.21
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - - -
Tangible assets 5 6,803,475 4,251,063 3,351,312
6,803,475 4,251,063 3,351,312

CURRENT ASSETS
Stocks 742,037 554,487 641,018
Debtors 6 1,787,476 1,835,647 1,125,132
Cash at bank and in hand 423,853 449,479 349,216
2,953,366 2,839,613 2,115,366
CREDITORS
Amounts falling due within one year 7 (2,714,333 ) (2,697,324 ) (1,920,941 )
NET CURRENT ASSETS 239,033 142,289 194,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,042,508

4,393,352

3,545,737

CREDITORS
Amounts falling due after more than one year 8 (4,391,668 ) (2,167,154 ) (1,700,848 )

PROVISIONS FOR LIABILITIES 11 (771,010 ) (497,798 ) (383,519 )
NET ASSETS 1,879,830 1,728,400 1,461,370

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000 1,000
Retained earnings 1,878,830 1,727,400 1,460,370
SHAREHOLDERS' FUNDS 1,879,830 1,728,400 1,461,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 April 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Angus Lift Trucks Limited (Registered number: 03700201)

Statement of Financial Position - continued
27 April 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 director and authorised for issue on 26 July 2024 and were signed by:





S J Shakespeare - Director


Angus Lift Trucks Limited (Registered number: 03700201)

Notes to the Financial Statements
for the Period 1 May 2022 to 27 April 2023

1. STATUTORY INFORMATION

Angus Lift Trucks 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest pound.

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.

These financial statements have been prepared for the period 1 May 2022 to 27 April 2023. The company's accounting period has been shortened as on 28 April 2023 its parent company was purchased by GHL Liftrucks Limited.

The comparative period for these financial statements is the year ended 30 April 2022 and is therefore not directly comparable.

Turnover
Turnover is measured at their fair value of the consideration received or receivable, net of discounts
and value added taxes. Turnover includes revenue earned from the sale of goods, from the rendering
of services and hire of goods.
Sale of goods
Revenue from the sale of trucks and related equipment is recognised when the significant risks and
rewards of the ownership of goods are transferred to the buyer, and when the
company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold.
Rendering of services
Revenue on fixed-term service contracts are recognised on a straight-line method over the period of
contract. Revenue on short-term and ad-hoc services rendered is recognised upon job completion.
Hire income
Hire income from short-term hire or where risk and rewards have not been transferred to the buyer, excluding charges for services provided, is recognised on a
straight-line basis over the period of lease or in the period in which it relates.
Leased assets: the Company as lessor
Assets held for use in operating leases by the company are capitalised as fixed assets and
depreciated over their useful economic life. Rental income from operating leases, excluding charges
for services, are recognised on a straight-line basis over the period of the lease.
Leased assets: Lessee
Assets held under finance leases and hire purchase contracts are capitalised in the Statement of
Financial Position and depreciated over their expected useful economic lives or the lease period,
whichever is shorter. The interest element of leasing payments represents a constant proportion of
the capital balance outstanding and is charged to the profit and loss account over the period of the
lease.
All other leases are regarded as operating leases and the payments made under them are charged
to the Statement of Comprehensive Income on a straight line basis over the lease term.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twenty 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.

Angus Lift Trucks Limited (Registered number: 03700201)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 27 April 2023

2. ACCOUNTING POLICIES - continued

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 - between 10% and 25% reducing balance

Plant and machinery - straight line over the term of the lease reducing to Fair Residual Value

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 period 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 statement of financial position date.

Deferred tax
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 period end and that are expected to apply to the reversal of the timing difference.

Deferred tax has not be calculated on superdeduction allowances as the date of disposal can not be measured and therefore a provision cannot be reliably calculated.

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.

Hire purchase/leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 37 (2022 - 34 ) .

Angus Lift Trucks Limited (Registered number: 03700201)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 27 April 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 27 April 2023 258,000
AMORTISATION
At 1 May 2022
and 27 April 2023 258,000
NET BOOK VALUE
At 27 April 2023 -
At 30 April 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2022 15,747 59,302 4,951,840
Additions - - 3,958,176
Disposals - - (620,928 )
At 27 April 2023 15,747 59,302 8,289,088
DEPRECIATION
At 1 May 2022 15,747 20,988 1,176,100
Charge for period - 4,983 879,334
Eliminated on disposal - - (118,285 )
At 27 April 2023 15,747 25,971 1,937,149
NET BOOK VALUE
At 27 April 2023 - 33,331 6,351,939
At 30 April 2022 - 38,314 3,775,740

Angus Lift Trucks Limited (Registered number: 03700201)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 27 April 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 May 2022 56,668 678,461 5,762,018
Additions 1,773 126,625 4,086,574
Disposals - (45,051 ) (665,979 )
At 27 April 2023 58,441 760,035 9,182,613
DEPRECIATION
At 1 May 2022 36,867 261,253 1,510,955
Charge for period 5,262 123,976 1,013,555
Eliminated on disposal - (27,087 ) (145,372 )
At 27 April 2023 42,129 358,142 2,379,138
NET BOOK VALUE
At 27 April 2023 16,312 401,893 6,803,475
At 30 April 2022 19,801 417,208 4,251,063

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.4.23 30.4.22
as restated
£    £   
Trade debtors 740,177 1,074,290
Amounts owed by group undertakings 713,228 675,709
Other debtors 10,200 11,100
Directors' current accounts 247,525 -
Prepayments 76,346 74,548
1,787,476 1,835,647

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.4.23 30.4.22
as restated
£    £   
Hire purchase contracts and finance leases (see note 9)
1,381,836

737,999
Trade creditors 646,317 1,713,029
Tax 247,968 -
Social security and other taxes 199,712 123,982
Other creditors 17,446 8,340
Accrued expenses 219,264 112,184
Deferred government grants 1,790 1,790
2,714,333 2,697,324

Angus Lift Trucks Limited (Registered number: 03700201)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 27 April 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
27.4.23 30.4.22
as restated
£    £   
Hire purchase contracts and finance leases (see note 9)
4,386,300

2,159,996
Deferred government grants 5,368 7,158
4,391,668 2,167,154

Amounts falling due in more than five years:

Repayable by instalments
Finance leases 162,168 39,638

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
27.4.23 30.4.22 27.4.23 30.4.22
as restated as restated
£    £    £    £   
Net obligations repayable:
Within one year 441,466 415,829 940,370 322,170
Between one and five years 913,004 986,893 3,311,128 1,133,465
In more than five years - - 162,168 39,638
1,354,470 1,402,722 4,413,666 1,495,273

Non-cancellable operating leases
27.4.23 30.4.22
as restated
£    £   
Within one year 129,441 125,841
Between one and five years 385,790 407,316
In more than five years 39,667 131,210
554,898 664,367

10. SECURED DEBTS

The following secured debts are included within creditors:

27.4.23 30.4.22
as restated
£    £   
Hire purchase contracts and finance leases 5,768,136 2,897,995

A fixed and floating charge is held over financed assets.

11. PROVISIONS FOR LIABILITIES
27.4.23 30.4.22
as restated
£    £   
Deferred tax 771,010 497,798

Angus Lift Trucks Limited (Registered number: 03700201)

Notes to the Financial Statements - continued
for the Period 1 May 2022 to 27 April 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2022 497,798
Provided during period 273,212
Balance at 27 April 2023 771,010

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 27.4.23 30.4.22
value: as restated
£    £   
1,000 Ordinary 1 1,000 1,000

13. PENSION COMMITMENTS

As at 27 April 2023 the company had outstanding pension contributions of £4,750 (30 April 2022: £3,603).

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 27 April 2023 and the year ended 30 April 2022:

27.4.23 30.4.22
as restated
£    £   
C R Duncan and Mrs K Duncan
Balance outstanding at start of period - -
Amounts advanced 247,525 215,566
Amounts repaid - (215,566 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 247,525 -

15. RELATED PARTY DISCLOSURES AND SUBSEQUENT EVENTS

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the period and comparative period, A.L.T. (Holdings) Limited, registered in England and Wales, was regarded as the ultimate parent company. The financial statements of this company are available from its registered office Sheets Stores Industrial Estate, Fields Farm Road, Long Eaten, Nottingham, NGC 1AU.

On 28 April 2023, A. L. T. (Holdings) Limited was purchased by GHL Liftrucks Limited. The ultimate parent company became Monnoyeur SAS (a company registered in France).