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Registered number: 01219421









ANDYTRUC LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
ANDYTRUC LIMITED
REGISTERED NUMBER: 01219421

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
63,512
61,711

Current assets
  

Stocks
 5 
5,393
6,389

Debtors: amounts falling due within one year
 6 
37,332
49,251

Cash at bank and in hand
 7 
139,367
125,572

  
182,092
181,212

Creditors: amounts falling due within one year
 8 
(25,117)
(33,531)

Net current assets
  
 
 
156,975
 
 
147,681

Total assets less current liabilities
  
220,487
209,392

Provisions for liabilities
  

Deferred tax
 9 
(10,900)
(10,132)

Net assets
  
209,587
199,260


Capital and reserves
  

Called up share capital 
 10 
500
500

Other reserves
  
5,500
5,500

Profit and loss account
  
203,587
193,260

  
209,587
199,260


Page 1

 
ANDYTRUC LIMITED
REGISTERED NUMBER: 01219421
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 20 May 2025.


D R Anderson
Director


The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ANDYTRUC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Andytruc Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 17 Loxwood, Earley, Reading, Berkshire, England, RG6 5QZ.
The company specialises in hire, maintenance and sale of forklift trucks.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors note that the company is trading adequately and has sufficient working capital to continue trading for a period of not less than 12 months from the date of approval of the financial statements. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Page 3

 
ANDYTRUC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.3
Revenue (continued)

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

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

 
2.5

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ANDYTRUC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 reporting 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 reporting 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 reporting date.


 
2.8

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Plant & machinery
-
15% to 60% on reducing balance
Motor vehicles
-
30% reducing balance
Fixtures & fittings
-
10% straight line
Equipment
-
50% straight line

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.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Page 5

 
ANDYTRUC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

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 reporting 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 the Statement of comprehensive income.

 
2.10

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.

 
2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to the Statement of financial position.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.15

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.

Page 6

 
ANDYTRUC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 5).


4.


Tangible fixed assets





Leasehold improvement
Plant & machinery
Motor vehicles
Fixtures & fittings
Equipment
Total

£
£
£
£
£
£



Cost


At 1 November 2023
100,489
850,471
25,505
120,594
10,340
1,107,399


Additions
-
29,138
-
-
-
29,138


Disposals
-
(43,764)
-
-
-
(43,764)



At 31 October 2024

100,489
835,845
25,505
120,594
10,340
1,092,773



Depreciation


At 1 November 2023
100,489
799,857
14,408
120,594
10,340
1,045,688


Charge for the year on owned assets
-
21,982
3,329
-
-
25,311


Disposals
-
(41,738)
-
-
-
(41,738)



At 31 October 2024

100,489
780,101
17,737
120,594
10,340
1,029,261



Net book value



At 31 October 2024
-
55,744
7,768
-
-
63,512



At 31 October 2023
-
50,614
11,097
-
-
61,711




5.


Stocks

2024
2023
£
£

Work in progress
865
1,539

Finished goods and goods for resale
4,528
4,850

5,393
6,389


Page 7

 
ANDYTRUC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
33,061
45,160

Prepayments and accrued income
4,271
4,091

37,332
49,251



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
139,367
125,572

139,367
125,572



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,385
4,169

Corporation tax
7,956
14,127

Other taxation and social security
10,538
10,999

Accruals and deferred income
4,238
4,236

25,117
33,531


Page 8

 
ANDYTRUC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
10,132
18,116


Charged/(credited) to the Statement of comprehensive income
768
(7,984)



At end of year
10,900
10,132

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
10,900
10,132

10,900
10,132


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



500 Ordinary shares of £1 each
500
500



11.


Capital commitments


At 31 October 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
9,589
9,589

The company has a commitment to re-purchase three trucks upto 2027.

Page 9

 
ANDYTRUC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


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 £11,321 (2023 - £21,559). At the year end the company had outstanding pension contributions repayable of £247 (2023 - £252).
 


13.


Related party transactions

During the year, the company leased land & buildings from the Director's pension fund and paid an amount of rent of £Nil (2023 - £8,167).


14.


Controlling party

The ultimate controlling party is D R Anderson, a director, by virtue of his shareholding in the company.

Page 10