REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 May 2022 to 27 April 2023 |
for |
Angus Lift Trucks Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 6 | 1,125,132 |
Cash at bank and in hand |
2,115,366 |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
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 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 |
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 |
Plant and machinery | - |
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 |
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 |
AMORTISATION |
At 1 May 2022 |
and 27 April 2023 |
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 |
Additions |
Disposals | ( |
) |
At 27 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 27 April 2023 |
NET BOOK VALUE |
At 27 April 2023 |
At 30 April 2022 |
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 |
Additions |
Disposals | ( |
) | ( |
) |
At 27 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 27 April 2023 |
NET BOOK VALUE |
At 27 April 2023 |
At 30 April 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
27.4.23 | 30.4.22 |
as restated |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | 247,525 | - |
Prepayments |
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) |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
Deferred government grants |
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) |
Deferred government grants |
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 |
Between one and five years |
In more than five years |
Non-cancellable operating | leases |
27.4.23 | 30.4.22 |
as restated |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
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 |
Provided during period |
Balance at 27 April 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 27.4.23 | 30.4.22 |
value: | as restated |
£ | £ |
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 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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). |