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Registered number: 07730588
Kent Forklift Training Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Cleverdons
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07730588
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 375,295 386,755
375,295 386,755
CURRENT ASSETS
Debtors 5 120,099 135,378
Cash at bank and in hand 10,219 37,136
130,318 172,514
Creditors: Amounts Falling Due Within One Year 6 (211,133 ) (205,675 )
NET CURRENT ASSETS (LIABILITIES) (80,815 ) (33,161 )
TOTAL ASSETS LESS CURRENT LIABILITIES 294,480 353,594
Creditors: Amounts Falling Due After More Than One Year 7 (202,897 ) (236,709 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,029 ) (13,330 )
NET ASSETS 75,554 103,555
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 75,454 103,455
SHAREHOLDERS' FUNDS 75,554 103,555
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stuart Ainslie
Director
24 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kent Forklift Training Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07730588 . The registered office is 7 The Broadway, Broadstairs, Kent, CT10 2AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost
Motor Vehicles 25% WDV
Fixtures & Fittings 15% WDV
Computer Equipment 20% WDV
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 18)
17 18
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 September 2023 336,322 124,593 460,915
Additions - 18,193 18,193
Disposals - (18,765 ) (18,765 )
As at 31 August 2024 336,322 124,021 460,343
Depreciation
As at 1 September 2023 19,724 54,436 74,160
Provided during the period 6,727 18,487 25,214
Disposals - (14,326 ) (14,326 )
As at 31 August 2024 26,451 58,597 85,048
Net Book Value
As at 31 August 2024 309,871 65,424 375,295
As at 1 September 2023 316,598 70,157 386,755
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 76,620 121,778
Amounts recoverable on contracts 225 5,560
Amounts owed by participating interests 31,154 -
Other debtors 12,100 8,040
120,099 135,378
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,322 11,373
Trade creditors 13,503 7,698
Bank loans and overdrafts 36,863 25,719
Other creditors 58,109 43,009
Taxation and social security 90,336 117,876
211,133 205,675
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,332 16,653
Bank loans 198,565 220,056
202,897 236,709
8. Secured Creditors
Of the creditors the following amounts are secured on the freehold property of the company.
2024 2023
£ £
Bank loans and overdrafts 200,694 210,418
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,322 11,373
Later than one year and not later than five years 4,332 16,653
16,654 28,026
16,654 28,026
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 2,803 2,803
Later than one year and not later than five years 5,841 6,075
8,644 8,878
Page 5