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REGISTERED NUMBER: 01326732 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

P. Forker Plant Hire Limited

P. Forker Plant Hire Limited (Registered number: 01326732)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

P. Forker Plant Hire Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Forker
Ms B M Forker
Ms H Boyle
Ms R Curran
M F Forker
D L Hudson



SECRETARIES: Ms H Boyle
Ms R Curran



REGISTERED OFFICE: Golds Green House
Shaw Street
West Bromwich
West Midlands
B70 0XT



REGISTERED NUMBER: 01326732 (England and Wales)



ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD



BANKERS: Handelsbanken
67 Temple Row
Birmingham
West Midlands
B2 5LS



SOLICITORS: Wright Hassall LLP
Olympus Avenue
Leamington Spa
Warwickshire
CV34 6BF

P. Forker Plant Hire Limited (Registered number: 01326732)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 5,123,518 5,476,176

CURRENT ASSETS
Inventories 5 806,704 580,030
Debtors 6 479,994 1,226,680
Cash at bank and in hand 2,121,167 763,949
3,407,865 2,570,659
CREDITORS
Amounts falling due within one year 7 (791,582 ) (476,764 )
NET CURRENT ASSETS 2,616,283 2,093,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,739,801

7,570,071

CREDITORS
Amounts falling due after more than one
year

8

(3,245,971

)

(3,245,971

)

PROVISIONS FOR LIABILITIES (366,732 ) (315,182 )
NET ASSETS 4,127,098 4,008,918

CAPITAL AND RESERVES
Called up share capital 9 1,100 1,100
Retained earnings 10 4,125,998 4,007,818
SHAREHOLDERS' FUNDS 4,127,098 4,008,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

P. Forker Plant Hire Limited (Registered number: 01326732)

Balance Sheet - continued
31 March 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 26 November 2024 and were signed on its behalf by:




Ms H Boyle - Director



Ms R Curran - Director


P. Forker Plant Hire Limited (Registered number: 01326732)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

P. Forker Plant Hire 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.

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.

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

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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 20% on reducing balance
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Inventories 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 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.


P. Forker Plant Hire Limited (Registered number: 01326732)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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 28 (2023 - 28 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 3,452,043 6,643,872 41,205 3,416,968 13,554,088
Additions - 72,807 - 281,514 354,321
Disposals - (37,000 ) - (453,768 ) (490,768 )
At 31 March 2024 3,452,043 6,679,679 41,205 3,244,714 13,417,641
DEPRECIATION
At 1 April 2023 15,438 5,727,179 36,437 2,298,858 8,077,912
Charge for year 542 311,284 953 335,142 647,921
Eliminated on disposal - (37,000 ) - (394,710 ) (431,710 )
At 31 March 2024 15,980 6,001,463 37,390 2,239,290 8,294,123
NET BOOK VALUE
At 31 March 2024 3,436,063 678,216 3,815 1,005,424 5,123,518
At 31 March 2023 3,436,605 916,693 4,768 1,118,110 5,476,176

5. INVENTORIES
2024 2023
£    £   
Stocks 806,704 580,030

P. Forker Plant Hire Limited (Registered number: 01326732)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,358 35,134
Amounts owed by group undertakings 60,273 60,273
Amounts owed by associates 284,794 995,057
Other debtors 107,569 136,216
479,994 1,226,680

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 86,971 -
Trade creditors 76,888 259,792
Taxation and social security 389,751 94,393
Other creditors 237,972 122,579
791,582 476,764

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 3,245,971 3,245,971

In June 2017 the company had a loan from it's parent company, Forker Group Holding Limited. This will be repayable over ten years.

In April 2022 the company had a loan from it's parent company, Forker Group Holding Limited.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100
1,000 Ordinary'B' shares £1 1,000 1,000
1,100 1,100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 4,007,818
Profit for the year 118,180
At 31 March 2024 4,125,998

P. Forker Plant Hire Limited (Registered number: 01326732)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

20242023
£ £
Balance outstanding at start of year-(600)
Amounts advanced5643,250
Amounts repaid(14,000)(2,650)
Balance outstanding at end of year(13,436)-
The amounts advanced are repayable on demand and are interest free.

12. RELATED PARTY TRANSACTIONS

During the period the company entered into the following transactions on an open market basis with Forkers Limited, a company of which the directors Mr P Forker, Mrs B M Forker, Mrs H Boyle and Mrs R Curran are directors and shareholders.

20242023
£   £   
Hire, leasing and rents recharged by P Forker Plant Hire Limited2,808,1222,979,773
Purchases and expenses recharged by P Forker Plant Hire Limited385,6501,071,128
Purchases and expenses recharged to P Forker Plant Hire Limited514,767529,436
Management charges paid to Forkers Limited133,350133,350
Management charges received from Forkers Ltd103,956103,956
At the period end the company owed to Forkers Ltd166,868425,926

During the period the company paid rent of £67,168 (2023: £60,000) to P Forker Plant Hire Limited Directors Retirement and Death Benefit Scheme of which the directors Mrs H Boyle and Mrs R Curran are members.

At the period end the company was owed by The P Forker Plant Hire Limited Directors Retirement and Death Benefit Scheme £NIL (2023: £148,325).

During the period the company entered into the following transactions on an open market basis with Forkers Scotland Limited, a wholly owned subsidiary of Forkers Limited. Mrs H Boyle, Mrs R Curran, Mr P Forker and Mrs B Forker are directors of Forkers Limited.

20242023
£   £   
Hire and leasing recharged by P Forker Plant Hire Limited478,557599,301
Purchases and expenses recharged by P Forker Plant Hire Limited7,36836,337
Purchases and expenses recharged to P Forker Plant Hire Limited11,3198,033
At the year end the company was owed by Forkers Scotland Ltd117,927420,806


13. ULTIMATE CONTROLLING PARTY

Forker Group Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The company's ultimate controlling party is Mr P and Mrs B Forker by virtue of their ownership of 100% of the issued ordinary voting share capital in the parent company.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
P. Forker Plant Hire Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P. Forker Plant Hire Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of P. Forker Plant Hire Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P. Forker Plant Hire Limited and state those matters that we have agreed to state to the Board of Directors of P. Forker Plant Hire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P. Forker Plant Hire Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P. Forker Plant Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P. Forker Plant Hire Limited. You consider that P. Forker Plant Hire Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of P. Forker Plant Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


26 November 2024