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REGISTERED NUMBER: 08895874 (England and Wales)











Unaudited Financial Statements for the Year Ended 31st March 2024

for

AJP Forklifts Ltd

AJP Forklifts Ltd (Registered number: 08895874)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6

Report of the Accountants 7

AJP Forklifts Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTOR: I Armstrong





REGISTERED OFFICE: Unit 11
Prior Rigg House
Prior Rigg Lane
Carlisle
CA2 7RG





REGISTERED NUMBER: 08895874 (England and Wales)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

AJP Forklifts Ltd (Registered number: 08895874)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,400 1,645

CURRENT ASSETS
Stocks 164,250 145,686
Debtors 5 60,223 34,275
Cash at bank and in hand 9,969 393
234,442 180,354
CREDITORS
Amounts falling due within one year 6 145,516 123,887
NET CURRENT ASSETS 88,926 56,467
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,326

58,112

CREDITORS
Amounts falling due after more than one year 7 (118,204 ) (49,233 )

PROVISIONS FOR LIABILITIES - (313 )
NET (LIABILITIES)/ASSETS (27,878 ) 8,566

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (27,978 ) 8,466
SHAREHOLDERS' FUNDS (27,878 ) 8,566

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25th February 2025 and were signed by:





I Armstrong - Director


AJP Forklifts Ltd (Registered number: 08895874)

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

1. STATUTORY INFORMATION

AJP Forklifts 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.

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
Turnover is measured at the fair value of the consideration received or receivable from the repair, sale and hire of forklifts, 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.
Plant and machinery etc - 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

AJP Forklifts Ltd (Registered number: 08895874)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
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 the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

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.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 3,462
DEPRECIATION
At 1st April 2023 1,817
Charge for year 245
At 31st March 2024 2,062
NET BOOK VALUE
At 31st March 2024 1,400
At 31st March 2023 1,645

AJP Forklifts Ltd (Registered number: 08895874)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,712 16,244
Other debtors 39,511 18,031
60,223 34,275

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,000 7,000
Hire purchase contracts 14,672 14,990
Trade creditors 64,926 54,505
Taxation and social security 28,871 25,277
Other creditors 30,047 22,115
145,516 123,887

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 8,167 15,167
Hire purchase contracts 24,650 25,316
Other creditors 85,387 8,750
118,204 49,233

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 39,322 40,306

The hire purchase creditors are secured on the assets on which the finance is actually outstanding.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
I Armstrong
Balance outstanding at start of year 13,507 13,657
Amounts advanced 24,811 -
Amounts repaid - (150 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,318 13,507

Loan to Director

Tax will be paid in accordance with s455 CTA 2010.

AJP Forklifts Ltd (Registered number: 08895874)

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

10. RELATED PARTY DISCLOSURES

I Armstrong
Director of the company

At 31st March 2024, the company was owed £38,318 (2023 - £13,507) by I Armstrong by way of a director's loan. This sum is repayable on demand and no interest is charged on the sum advanced.

AJP Forklifts Ltd

Report of the Accountants to the Director of
AJP Forklifts Ltd

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ


25th February 2025