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REGISTERED NUMBER: 03641699 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

ARMILL LIFT TRUCKS LIMITED

ARMILL LIFT TRUCKS LIMITED (REGISTERED NUMBER: 03641699)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARMILL LIFT TRUCKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr G Millar
Mrs A G Millar
Mr P Millar
Mr D M V Dadd





REGISTERED OFFICE: 3a Crittall Drive
Springwood Industrial Estate
Braintree
Essex
CM7 2RT





REGISTERED NUMBER: 03641699 (England and Wales)





ACCOUNTANTS: RE Group Accountants Limited
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ

ARMILL LIFT TRUCKS LIMITED (REGISTERED NUMBER: 03641699)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,367 5,823
Tangible assets 5 904,498 717,213
908,865 723,036

CURRENT ASSETS
Stocks 6 255,196 335,575
Debtors 7 781,731 682,606
Cash at bank and in hand 883,560 710,927
1,920,487 1,729,108
CREDITORS
Amounts falling due within one year 8 649,571 731,999
NET CURRENT ASSETS 1,270,916 997,109
TOTAL ASSETS LESS CURRENT LIABILITIES 2,179,781 1,720,145

CREDITORS
Amounts falling due after more than one
year

9

(288,759

)

(346,559

)

PROVISIONS FOR LIABILITIES 12 (223,845 ) (178,187 )
NET ASSETS 1,667,177 1,195,399

CAPITAL AND RESERVES
Called up share capital 99,100 99,100
Retained earnings 1,568,077 1,096,299
SHAREHOLDERS' FUNDS 1,667,177 1,195,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

ARMILL LIFT TRUCKS LIMITED (REGISTERED NUMBER: 03641699)

BALANCE SHEET - continued
30 APRIL 2024


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 1 August 2024 and were signed on its behalf by:





Mr G Millar - Director


ARMILL LIFT TRUCKS LIMITED (REGISTERED NUMBER: 03641699)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Armill 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.

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.

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

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Turnover from the rental of trucks is recognised in the income statement in the period to which it relates.

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.

Goodwill - Fully amortised
Computer Software - 25% Reducing Balance

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation , net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Improvements to leasehold - Straight line between 10 to 15 years
Trucks for hire - 12.5% on reducing balance
Motor vehicles - 20% on cost
Equipment - 25% on reducing balance

The gain or loss arising on disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.

ARMILL LIFT TRUCKS LIMITED (REGISTERED NUMBER: 03641699)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

ARMILL LIFT TRUCKS LIMITED (REGISTERED NUMBER: 03641699)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 80,000 26,172 106,172
AMORTISATION
At 1 May 2023 80,000 20,349 100,349
Amortisation for year - 1,456 1,456
At 30 April 2024 80,000 21,805 101,805
NET BOOK VALUE
At 30 April 2024 - 4,367 4,367
At 30 April 2023 - 5,823 5,823

5. TANGIBLE FIXED ASSETS
Improvements
to Trucks Motor
leasehold for hire vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 42,906 729,368 329,184 35,058 1,136,516
Additions - 431,963 185,438 832 618,233
Disposals - (238,964 ) (136,867 ) (2,089 ) (377,920 )
At 30 April 2024 42,906 922,367 377,755 33,801 1,376,829
DEPRECIATION
At 1 May 2023 42,906 229,786 126,018 20,593 419,303
Charge for year - 86,618 75,078 3,641 165,337
Eliminated on disposal - (75,957 ) (34,568 ) (1,784 ) (112,309 )
At 30 April 2024 42,906 240,447 166,528 22,450 472,331
NET BOOK VALUE
At 30 April 2024 - 681,920 211,227 11,351 904,498
At 30 April 2023 - 499,582 203,166 14,465 717,213

ARMILL LIFT TRUCKS LIMITED (REGISTERED NUMBER: 03641699)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Trucks Motor
for hire vehicles Totals
£    £    £   
COST
At 1 May 2023 197,425 250,346 447,771
Additions 191,864 185,438 377,302
Disposals (71,135 ) (128,667 ) (199,802 )
At 30 April 2024 318,154 307,117 625,271
DEPRECIATION
At 1 May 2023 73,216 81,266 154,482
Charge for year 26,149 66,730 92,879
Eliminated on disposal (20,766 ) (33,609 ) (54,375 )
At 30 April 2024 78,599 114,387 192,986
NET BOOK VALUE
At 30 April 2024 239,555 192,730 432,285
At 30 April 2023 124,209 169,080 293,289

6. STOCKS
2024 2023
£    £   
Stocks 255,196 335,575

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 697,574 458,375
Other debtors 84,157 224,231
781,731 682,606

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,043 9,787
Hire purchase contracts (see note 10) 95,742 109,982
Trade creditors 70,247 150,327
Taxation and social security 397,381 306,017
Other creditors 76,158 155,886
649,571 731,999

ARMILL LIFT TRUCKS LIMITED (REGISTERED NUMBER: 03641699)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 19,074 29,117
Hire purchase contracts (see note 10) 269,685 317,442
288,759 346,559

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 95,742 109,982
Between one and five years 269,685 317,442
365,427 427,424

Non-cancellable operating leases
2024 2023
£    £   
Within one year 40,000 40,000
Between one and five years 160,000 160,000
In more than five years 36,667 76,667
236,667 276,667

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 365,427 427,424

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 223,845 178,187

ARMILL LIFT TRUCKS LIMITED (REGISTERED NUMBER: 03641699)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 178,187
Movement in year 45,658
Balance at 30 April 2024 223,845

13. RELATED PARTY DISCLOSURES

Millar Investments Limited - company number 07106325 - controlled by G Millar

Shares in Armill Lift Trucks Limited owned by Millar Investments Limited - 10,050 (2023: 10,050) Ordinary E shares and 25 (2023: 25) Ordinary B shares

Management charges in year: £120,000 (2023: £122,000)

Total outstanding to Millar Investments Limited at 30/04/2024: £Nil (2023: £0)