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FORKLIFTEK LIMITED

Registered Number
11940860
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

FORKLIFTEK LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

BOWN, Christopher Barry

Registered Address

Suite 2.05 Swans Centre For Innovation
Station Road
Wallsend
NE28 6EQ

Registered Number

11940860 (England and Wales)
FORKLIFTEK LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3286,512222,835
286,512222,835
Current assets
Debtors415,89516,226
15,89516,226
Creditors amounts falling due within one year5(61,911)(40,774)
Net current assets (liabilities)(46,016)(24,548)
Total assets less current liabilities240,496198,287
Creditors amounts falling due after one year6(89,229)(88,457)
Net assets151,267109,830
Capital and reserves
Called up share capital22
Profit and loss account151,265109,828
Shareholders' funds151,267109,830
The financial statements were approved and authorised for issue by the Director on 28 January 2025, and are signed on its behalf by:
BOWN, Christopher Barry
Director
Registered Company No. 11940860
FORKLIFTEK LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale 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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery10
Fixtures and fittings15
Vehicles20
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 May 23232,17842,729-274,907
Additions56,15037,3886,25099,788
Disposals(1,000)--(1,000)
At 30 April 24287,32880,1176,250373,695
Depreciation and impairment
At 01 May 2339,59612,476-52,072
Charge for year22,43312,24262535,300
On disposals(189)--(189)
At 30 April 2461,84024,71862587,183
Net book value
At 30 April 24225,48855,3995,625286,512
At 30 April 23192,58230,253-222,835
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables15,69016,224
Other debtors2052
Total15,89516,226
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables49,66229,308
Bank borrowings and overdrafts10,6154,542
Taxation and social security1,6346,924
Total61,91140,774
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts47,85466,003
Other creditors41,37522,454
Total89,22988,457
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts41,37522,455