Consolidated Fork Truck Services Limited 04338187 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is production of quality assurance documentation and the regulation of the inspection of fork lift trucks within the United Kingdom Digita Accounts Production Advanced 6.30.9574.0 true true 04338187 2023-01-01 2023-12-31 04338187 2023-12-31 04338187 bus:OrdinaryShareClass1 2023-12-31 04338187 core:CurrentFinancialInstruments 2023-12-31 04338187 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04338187 bus:SmallEntities 2023-01-01 2023-12-31 04338187 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04338187 bus:FilletedAccounts 2023-01-01 2023-12-31 04338187 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04338187 bus:RegisteredOffice 2023-01-01 2023-12-31 04338187 bus:Director2 2023-01-01 2023-12-31 04338187 bus:Director3 2023-01-01 2023-12-31 04338187 bus:Director4 2023-01-01 2023-12-31 04338187 bus:Director7 2023-01-01 2023-12-31 04338187 bus:Director8 2023-01-01 2023-12-31 04338187 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04338187 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04338187 core:ComputerSoftware 2023-01-01 2023-12-31 04338187 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 04338187 core:ComputerEquipment 2023-01-01 2023-12-31 04338187 countries:EnglandWales 2023-01-01 2023-12-31 04338187 2022-01-01 2022-12-31 04338187 2022-12-31 04338187 bus:OrdinaryShareClass1 2022-12-31 04338187 core:CurrentFinancialInstruments 2022-12-31 04338187 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04338187

Consolidated Fork Truck Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Consolidated Fork Truck Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Consolidated Fork Truck Services Limited

Company Information

Directors

D A Goss

R P Fisher

M Knowles

D N Martin

G R W Martin

Registered office

34B Kingfisher Court
Newbury
Berkshire
RG14 5SJ

Accountants

E J Business Consultants Limited
No 2 Toomers Wharf
Canal Walk
Newbury
RG14 1DY

 

Consolidated Fork Truck Services Limited

(Registration number: 04338187)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

16,021

18,237

Tangible assets

406

1,054

 

16,427

19,291

Current assets

 

Stocks

24,971

32,890

Debtors

109,560

91,963

Cash at bank and in hand

 

427,025

474,096

 

561,556

598,949

Creditors: Amounts falling due within one year

(117,156)

(115,687)

Net current assets

 

444,400

483,262

Net assets

 

460,827

502,553

Capital and reserves

 

Called up share capital

3

20,002

20,002

Retained earnings

440,825

482,551

Shareholders' funds

 

460,827

502,553

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

.........................................
R P Fisher
Director

 

Consolidated Fork Truck Services Limited

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office and computer equipment

straight line over 4 years

 

Consolidated Fork Truck Services Limited

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

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patent

straight line over 20 years

Website development

straight line over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Consolidated Fork Truck Services Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 5).

3

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

20,002

20,002

20,002

20,002