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Registered Number: 10034537
England and Wales

 

 

 


Abridged Accounts


for the year ended 31 March 2025

for

PENDLE FORKLIFT SERVICES LTD.

 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 3,422,050    2,951,987 
3,422,050    2,951,987 
Current assets      
Stocks 100,000    100,000 
Debtors 611,099    584,624 
Cash at bank and in hand 693,098    856,203 
1,404,197    1,540,827 
Creditors: amount falling due within one year (1,138,607)   (1,116,315)
Net current assets 265,590    424,512 
 
Total assets less current liabilities 3,687,640    3,376,499 
Creditors: amount falling due after more than one year (638,327)   (382,120)
Provisions for liabilities (757,194)   (737,469)
Net assets 2,292,119    2,256,910 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 2,291,119    2,255,910 
Shareholders' funds 2,292,119    2,256,910 
 


For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 25 June 2025 and were signed on its behalf by:


-------------------------------
B Little
Director
-------------------------------
J R Little
Director
1
General Information
Pendle Forklift Services Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10034537, registration address Pendle House, West Craven Business Park, Earby, Barnoldswick, BB18 6JZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard).
Going concern basis
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of Value Added Tax and trade discounts.
Revenue from the sale of goods is recognised on dispatch of the goods to the customer. Revenue on servicing is recognised on completion of the work. Revenue on asset hire is recognised over the period of the hire. 
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Dividends payable are recognised as liabilities once they are no longer at the discretion of the company.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.
Tangible fixed assets
Tangible fixed assets are initially measured at cost, and subsequently measured at cost or valuation, net of depreciation and impairment losses.
Land is not depreciated. Depreciation is recognised on other assets so as to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Freehold Property 50 years Straight Line
Plant and Machinery 10% Reducing Balance
Motor Vehicles 25% Reducing Balance
Equipment 10% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 24 (2024 : 25).
3.

Tangible fixed assets

Cost or valuation Freehold Property   Plant and Machinery   Motor Vehicles   Equipment   Total
  £   £   £   £   £
At 01 April 2024   3,671,813    849,810    58,322    4,579,945 
Additions 392,500    972,229    94,285      1,459,014 
Disposals   (715,594)   (50,433)     (766,027)
At 31 March 2025 392,500    3,928,448    893,662    58,322    5,272,932 
Depreciation
At 01 April 2024   1,137,906    460,284    29,768    1,627,958 
Charge for year 1,212    295,534    165,713    2,856    465,315 
On disposals   (213,642)   (28,749)     (242,391)
At 31 March 2025 1,212    1,219,798    597,248    32,624    1,850,882 
Net book values
Closing balance as at 31 March 2025 391,288    2,708,650    296,414    25,698    3,422,050 
Opening balance as at 01 April 2024   2,533,907    389,526    28,554    2,951,987 


4.

Indebtedness

Included within creditors are bank loans amounting to £219,182 and obligations under finance leases and hire purchase contracts amounting to £624,198 that are secured on the related assets.
Included within creditors are amounts payable by instalments that fall due after five years amounting to £94,317 (2024 : £108,122)
2