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REGISTERED NUMBER: 01937306 (England and Wales)


























AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BOLZONI LTD.

BOLZONI LTD. (REGISTERED NUMBER: 01937306)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BOLZONI LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr R Scotti
Ms S S Taylor
Mr D Bird





REGISTERED OFFICE: Unit 10 Taurus Park
Europa Boulevard
Westbrook
Warrington
Cheshire
WA5 7ZT





REGISTERED NUMBER: 01937306 (England and Wales)





AUDITORS: Livesey Spottiswood Ltd
Chartered Accountants and
Statutory Auditors
17 George Street
St Helens
Merseyside
WA10 1DB

BOLZONI LTD. (REGISTERED NUMBER: 01937306)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 109,179 118,174

CURRENT ASSETS
Stocks 511,708 537,811
Debtors 5 2,088,600 1,819,818
Cash at bank and in hand 979,852 787,358
3,580,160 3,144,987
CREDITORS
Amounts falling due within one year 6 (2,108,587 ) (2,126,351 )
NET CURRENT ASSETS 1,471,573 1,018,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,580,752

1,136,810

PROVISIONS FOR LIABILITIES (21,300 ) (17,650 )
NET ASSETS 1,559,452 1,119,160

CAPITAL AND RESERVES
Called up share capital 8 350,000 350,000
Retained earnings 1,209,452 769,160
SHAREHOLDERS' FUNDS 1,559,452 1,119,160

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 3 July 2024 and were signed on its behalf by:





Mr D Bird - Director


BOLZONI LTD. (REGISTERED NUMBER: 01937306)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Bolzoni Ltd. 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 (£).


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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Sales of goods
Turnover from the sale of goods is recognised when the 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.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from service and installation work is recognised using the percentage of completion method.

Equipment Hire
Turnover from the hire of equipment is recognised on a straight line basis over the period of hire.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Improvements to property-5% on cost
Plant and machinery-15% - 20% on cost
Fixtures and fittings-15% on cost
Motor vehicles-25% reducing balance
Computer equipment-25% on cost

Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the average cost formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


BOLZONI LTD. (REGISTERED NUMBER: 01937306)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged against profits on a straight line basis over the periods of the leases. Assets acquired under finance leases and hire purchase contracts are capitalised as tangible fixed assets and depreciated in accordance with the accounting policy on depreciation. The related obligations, net of finance costs allocated to future periods, are included in creditors. Finance costs are charged against profits on a straight line basis over the periods of the contracts.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

BOLZONI LTD. (REGISTERED NUMBER: 01937306)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 471,476
Additions 35,047
Disposals (28,824 )
At 31 December 2023 477,699
DEPRECIATION
At 1 January 2023 353,302
Charge for year 39,159
Eliminated on disposal (23,941 )
At 31 December 2023 368,520
NET BOOK VALUE
At 31 December 2023 109,179
At 31 December 2022 118,174

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,894,451 1,724,159
Amounts owed by group undertakings 9,889 975
Other debtors 184,260 94,684
2,088,600 1,819,818

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 109,445 107,634
Amounts owed to group undertakings 1,492,561 1,498,773
Taxation and social security 375,589 383,536
Other creditors 130,992 136,408
2,108,587 2,126,351

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Non-cancellable operating leases
2023 2022
£ £
Within one year 5,769 5,048
Between one and five year 203,189 199,056
208,958 204,104

BOLZONI LTD. (REGISTERED NUMBER: 01937306)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
350,000 Ordinary £1 350,000 350,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr David Hudd BA FCA (Senior Statutory Auditor)
for and on behalf of Livesey Spottiswood Ltd

10. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Hyster-Yale Material Handling Inc, a company incorporated in the United States of America.

The parent undertaking and controlling party is Bolzoni SPA incorporated in Italy, which is the parent of the smallest group to consolidate these financial statements. Copies of Bolzoni SPA consolidated financial statements can be obtained from the Company Secretary at 103, I-29027, Casoni di Podenzano, Piacenza, Italy.

11. PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.