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REGISTERED NUMBER: 04725231 (England and Wales)












Financial Statements

for the Year Ended 31 December 2023

for

Forklift Solutions Limited

Forklift Solutions Limited (Registered number: 04725231)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Forklift Solutions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C Forster
G E Hartley





REGISTERED OFFICE: Unit A
Blenheim Place
Gateshead
NE11 9HF





REGISTERED NUMBER: 04725231 (England and Wales)





ACCOUNTANTS: Archwood Accountants
Archwood House
46-48 Long Street
Middleton
Manchester
M24 6UQ

Forklift Solutions Limited (Registered number: 04725231)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,782,913 1,846,466

CURRENT ASSETS
Debtors 5 522,048 467,412
Cash at bank and in hand 359,730 164,706
881,778 632,118
CREDITORS
Amounts falling due within one year 6 857,075 1,006,214
NET CURRENT ASSETS/(LIABILITIES) 24,703 (374,096 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,807,616

1,472,370

CREDITORS
Amounts falling due after more than one year 7 (493,070 ) (310,441 )

PROVISIONS FOR LIABILITIES (274,130 ) (199,250 )
NET ASSETS 1,040,416 962,679

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,040,316 962,579
SHAREHOLDERS' FUNDS 1,040,416 962,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Forklift Solutions Limited (Registered number: 04725231)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





G E Hartley - Director


Forklift Solutions Limited (Registered number: 04725231)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Forklift Solutions 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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 8 ).

Forklift Solutions Limited (Registered number: 04725231)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2023 166,530 2,914,097 399,055 3,479,682
Additions - 362,733 - 362,733
At 31 December 2023 166,530 3,276,830 399,055 3,842,415
DEPRECIATION
At 1 January 2023 29,636 1,358,418 245,162 1,633,216
Charge for year 3,331 384,482 38,473 426,286
At 31 December 2023 32,967 1,742,900 283,635 2,059,502
NET BOOK VALUE
At 31 December 2023 133,563 1,533,930 115,420 1,782,913
At 31 December 2022 136,894 1,555,679 153,893 1,846,466

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 1,230,155 131,769 1,361,924
Additions 362,733 - 362,733
Transfer to ownership (477,663 ) (22,995 ) (500,658 )
At 31 December 2023 1,115,225 108,774 1,223,999
DEPRECIATION
At 1 January 2023 567,567 72,898 640,465
Charge for year 163,951 13,354 177,305
Transfer to ownership (272,101 ) (17,538 ) (289,639 )
At 31 December 2023 459,417 68,714 528,131
NET BOOK VALUE
At 31 December 2023 655,808 40,060 695,868
At 31 December 2022 662,588 58,871 721,459

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 522,048 467,412

Forklift Solutions Limited (Registered number: 04725231)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 36,000
Hire purchase contracts 299,644 244,895
Trade creditors 364,636 617,034
Taxation and social security 150,334 71,143
Other creditors 32,461 37,142
857,075 1,006,214

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,167 24,167
Hire purchase contracts 478,903 286,274
493,070 310,441

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 24,167 60,167
Other loans - 5,941
24,167 66,108