Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-3034false2023-07-01falseWholesale of other machinery and equipment31truetrue 04413507 2023-07-01 2024-06-30 04413507 2022-07-01 2023-06-30 04413507 2024-06-30 04413507 2023-06-30 04413507 2022-07-01 04413507 c:Director2 2023-07-01 2024-06-30 04413507 d:Buildings 2023-07-01 2024-06-30 04413507 d:Buildings 2024-06-30 04413507 d:Buildings 2023-06-30 04413507 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04413507 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 04413507 d:Buildings d:LongLeaseholdAssets 2024-06-30 04413507 d:Buildings d:LongLeaseholdAssets 2023-06-30 04413507 d:PlantMachinery 2023-07-01 2024-06-30 04413507 d:PlantMachinery 2024-06-30 04413507 d:PlantMachinery 2023-06-30 04413507 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04413507 d:MotorVehicles 2023-07-01 2024-06-30 04413507 d:MotorVehicles 2024-06-30 04413507 d:MotorVehicles 2023-06-30 04413507 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04413507 d:FurnitureFittings 2023-07-01 2024-06-30 04413507 d:OfficeEquipment 2023-07-01 2024-06-30 04413507 d:OfficeEquipment 2024-06-30 04413507 d:OfficeEquipment 2023-06-30 04413507 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04413507 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04413507 d:Goodwill 2024-06-30 04413507 d:Goodwill 2023-06-30 04413507 d:CurrentFinancialInstruments 2024-06-30 04413507 d:CurrentFinancialInstruments 2023-06-30 04413507 d:Non-currentFinancialInstruments 2024-06-30 04413507 d:Non-currentFinancialInstruments 2023-06-30 04413507 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04413507 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04413507 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 04413507 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 04413507 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 04413507 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 04413507 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 04413507 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 04413507 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 04413507 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 04413507 d:ShareCapital 2024-06-30 04413507 d:ShareCapital 2023-06-30 04413507 d:ShareCapital 2022-07-01 04413507 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 04413507 d:RetainedEarningsAccumulatedLosses 2024-06-30 04413507 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 04413507 d:RetainedEarningsAccumulatedLosses 2023-06-30 04413507 d:RetainedEarningsAccumulatedLosses 2022-07-01 04413507 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 04413507 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 04413507 c:OrdinaryShareClass1 2023-07-01 2024-06-30 04413507 c:OrdinaryShareClass1 2024-06-30 04413507 c:OrdinaryShareClass1 2023-06-30 04413507 c:FRS102 2023-07-01 2024-06-30 04413507 c:Audited 2023-07-01 2024-06-30 04413507 c:FullAccounts 2023-07-01 2024-06-30 04413507 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04413507 d:WithinOneYear 2024-06-30 04413507 d:WithinOneYear 2023-06-30 04413507 d:BetweenOneFiveYears 2024-06-30 04413507 d:BetweenOneFiveYears 2023-06-30 04413507 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 04413507 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 04413507 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 04413507 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 04413507 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04413507 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04413507









ALTO HANDLING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
ALTO HANDLING LIMITED
REGISTERED NUMBER: 04413507

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets

 5 

3,351,065
3,505,474

Current assets
  

Stocks
  
592,144
844,821

Debtors: amounts falling due within one year
 6 
1,113,194
999,699

Cash at bank and in hand
 7 
621,383
151,338

  
2,326,721
1,995,858

Creditors: amounts falling due within one year
 8 
(1,370,424)
(1,338,121)

Net current assets
  
 
 
956,297
 
 
657,737

Total assets less current liabilities
  
4,307,362
4,163,211

Creditors: amounts falling due after more than one year
 9 
(1,001,428)
(1,125,780)

Provisions for liabilities
  

Deferred tax
 12 
(499,105)
(537,105)

Net assets
  
2,806,829
2,500,326


Capital and reserves
  

Called up share capital 
 13 
1,000
1,000

Profit and loss account
 14 
2,805,829
2,499,326

  
2,806,829
2,500,326


Page 1

 
ALTO HANDLING LIMITED
REGISTERED NUMBER: 04413507
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.



R H Martin
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 2

 
ALTO HANDLING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
1,000
2,094,223
2,095,223



Profit for the year
-
405,103
405,103



At 1 July 2023
1,000
2,499,326
2,500,326



Profit for the year
-
306,503
306,503


At 30 June 2024
1,000
2,805,829
2,806,829


The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Alto Handling Limited is a private company, limited by shares, registered in England and Wales. The company's registration number is 04413507. The registered office is Unit 8, Westgate Park Industrial Estate, Tintagel Way, Aldridge, Walsall, West Midlands, WS9 8ER. The principal activity of the company continued to be that of the sale and rental of forklift trucks. The principal places of business are The Grove Industrial Estate, Gloucester Road, Patchway, Bristol, BS34 5BB and East Building, Claybank Road, Portsmouth, Hampshire, PO3 5NH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in Sterling which is the functional currency of the company. The financial statements level of rounding is to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover from the sale of goods is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the previously agreed upon payment. In respect of sales of forklift trucks this is typically at the point of acceptance of the truck by the customer, and in respect of part sales at the point when parts are supplied and delivered to the customer. Turnover from the hire of forklift trucks is recognised on a straight line basis over the period of hire.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 4

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in statement of comprehensive income in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life. The directors have assessed the economic life of goodwill to be five years.

Page 5

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both straight line and reducing balance method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Hire fleet
-
various
Plant and machinery
-
25% reducing balance and 10% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Proceeds and net book values of disposals of demo fleet are recognised within turnover and cost of sales respectively in the statement of comprehensive income. Profits or losses on sales of other fixed assets are shown net within administrative expenses in the statement of comprehensive income.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in statement of comprehensive income.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 6

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

  
2.15

Financial instruments

The company only has basic financial instruments.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 31).

Page 7

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
16,451



At 30 June 2024

16,451



Amortisation


At 1 July 2023
16,451



At 30 June 2024

16,451



Net book value



At 30 June 2024
-



At 30 June 2023
-



Page 8

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Freehold property
Hire fleet
Plant and machinery
Motor vehicles
Fixture and fittings
Total

£
£
£
£
£
£



Cost 


At 1 July 2023
1,242,978
3,937,415
140,161
656,283
244,690
6,221,527


Additions
-
349,834
-
233,904
3,888
587,626


Disposals
-
(229,016)
-
(26,703)
-
(255,719)



At 30 June 2024

1,242,978
4,058,233
140,161
863,484
248,578
6,553,434



Depreciation


At 1 July 2023
-
2,033,297
132,344
394,370
156,042
2,716,053


Charge for the year
-
426,534
7,817
157,949
19,406
611,706


Disposals
-
(98,687)
-
(26,703)
-
(125,390)



At 30 June 2024

-
2,361,144
140,161
525,616
175,448
3,202,369



Net book value



At 30 June 2024
1,242,978
1,697,089
-
337,868
73,130
3,351,065



At 30 June 2023
1,242,978
1,904,118
7,817
261,913
88,648
3,505,474

The net book value of tangible fixed assets includes an amount of £796,091 (2023 - £847,805) in respect of assets held under finance leases and hire purchase contracts.


6.


Debtors

2024
2023
£
£


Trade debtors
849,542
802,506

Amounts owed by group undertakings
178,682
127,443

Other debtors
320
5,337

Prepayments and accrued income
84,650
64,413

1,113,194
999,699


Page 9

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
621,383
151,338



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
39,604
30,382

Trade creditors
474,656
485,070

Corporation tax
107,535
100,000

Other taxation and social security
153,347
109,242

Obligations under finance lease and hire purchase contracts
365,848
333,639

Other creditors
8,126
36,901

Accruals and deferred income
221,308
242,887

1,370,424
1,338,121


The amounts due on hire purchase contracts are secured on the assets concerned.
Bank loans are secured on the assets of the company. See note 10.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
684,816
726,283

Obligations under finance leases and hire purchase contracts
316,612
399,497

1,001,428
1,125,780


The amounts due on hire purchase contracts are secured on the assets concerned.
The amounts due on bank loans are secured on the assets of the company. See note 10.

Page 10

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
39,604
30,382

Amounts falling due 1-2 years

Bank loans
43,318
32,655

Amounts falling due 2-5 years

Bank loans
150,441
114,492

Amounts falling due after more than 5 years

Bank loans
491,057
579,136

724,420
756,665


Bank loans are secured by a debenture creating a fixed and floating charge over the assets of the company. The bank loan is repayable in installments over 15 years. The interest rate of the bank loan is 2.75% per annum over Base Rate.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
365,848
333,639

Between 1-5 years
316,612
399,497

682,460
733,136




 

Page 11

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Deferred taxation




2024


£






At beginning of year
(537,105)


Utilised in year
38,000



At end of year
(499,105)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(499,105)
(537,105)


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



14.


Reserves

Profit and loss account

The profit and loss account includes all current and prior periods retained profits and losses.


15.


Contingent liabilities

The company has agreed to repurchase at the option of the customer, fork lift trucks which have been sold subject to certain terms and conditions. At 30 June 2024, this commitment amounted to £1,445,467 (2023 - £1,499,227). These repurchases are not expected to result in a material loss for the company.

Page 12

 
ALTO HANDLING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

16.


Capital commitments


At 30 June 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
-
215,447


17.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £49,092 (2023 - £61,970). Contributions totalling £8,198 (2023 - £23,002) were payable to the fund at the balance sheet date and are included in creditors.


18.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
97,321
36,708

Later than 1 year and not later than 5 years
90,317
29,583

187,638
66,291


19.


Related party transactions

The company has taken advantage of the exemptions in section 33.1A of Financial Reporting Standard 102 from the requirement to disclose transactions with wholly owned members of the group.


20.


Controlling party

The company is a wholly owned subsidiary undertaking of Mirage Operations Limited, which is also the ultimate parent company. The registered address of the parent company is Unit 8 Westgate Park Industrial Estate, Tintagel Way, Aldridge, Walsall, West Midlands, WS9 8ER.


21.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 28 March 2025 by Stephen Newman (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.

 
Page 13