IRIS Accounts Production v25.2.0.378 02882425 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028824252023-12-31028824252024-12-31028824252024-01-012024-12-31028824252022-12-31028824252023-01-012023-12-31028824252023-12-3102882425ns15:EnglandWales2024-01-012024-12-3102882425ns14:PoundSterling2024-01-012024-12-3102882425ns10:Director12024-01-012024-12-3102882425ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3102882425ns10:SmallEntities2024-01-012024-12-3102882425ns10:AuditExemptWithAccountantsReport2024-01-012024-12-3102882425ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3102882425ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3102882425ns10:FullAccounts2024-01-012024-12-310288242512024-01-012024-12-3102882425ns10:Director22024-01-012024-12-3102882425ns10:Director32024-01-012024-12-3102882425ns10:Director42024-01-012024-12-3102882425ns10:RegisteredOffice2024-01-012024-12-3102882425ns5:CurrentFinancialInstruments2024-12-3102882425ns5:CurrentFinancialInstruments2023-12-3102882425ns5:Non-currentFinancialInstruments2024-12-3102882425ns5:Non-currentFinancialInstruments2023-12-3102882425ns5:ShareCapital2024-12-3102882425ns5:ShareCapital2023-12-3102882425ns5:RetainedEarningsAccumulatedLosses2024-12-3102882425ns5:RetainedEarningsAccumulatedLosses2023-12-3102882425ns5:NetGoodwill2024-01-012024-12-3102882425ns5:LandBuildings2024-01-012024-12-3102882425ns5:PlantMachinery2024-01-012024-12-3102882425ns5:NetGoodwill2023-12-3102882425ns5:NetGoodwill2024-12-3102882425ns5:NetGoodwill2023-12-3102882425ns5:LandBuildings2023-12-3102882425ns5:PlantMachinery2023-12-3102882425ns5:LandBuildings2024-12-3102882425ns5:PlantMachinery2024-12-3102882425ns5:LandBuildings2023-12-3102882425ns5:PlantMachinery2023-12-3102882425ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3102882425ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-01-012024-12-3102882425ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-12-3102882425ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3102882425ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3102882425ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31
REGISTERED NUMBER: 02882425 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ANDOVER FORK TRUCK SERVICES LIMITED

ANDOVER FORK TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02882425)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

ANDOVER FORK TRUCK SERVICES LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: Mr E J Clapcott
Mrs D B Clapcott
Mr J E Clapcott
Mr L Clapcott



REGISTERED OFFICE: 10 St Ann Street
Salisbury
Wiltshire
SP1 2DN



REGISTERED NUMBER: 02882425 (England and Wales)



ACCOUNTANTS: Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN



BANKERS: National Westminster Bank
22 Chantry Way
Andover
Hampshire
SP10 1LL

ANDOVER FORK TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02882425)

BALANCE SHEET
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,864,653 3,379,117
3,864,653 3,379,117

CURRENT ASSETS
Stocks 27,643 26,154
Debtors 6 514,617 887,875
Cash at bank and in hand 1,851,997 1,502,302
2,394,257 2,416,331
CREDITORS
Amounts falling due within one year 7 1,095,888 1,306,181
NET CURRENT ASSETS 1,298,369 1,110,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,163,022

4,489,267

CREDITORS
Amounts falling due after more than one
year

8

(941,615

)

(334,612

)

PROVISIONS FOR LIABILITIES (904,715 ) (770,602 )
NET ASSETS 3,316,692 3,384,053

CAPITAL AND RESERVES
Called up share capital 100,020 100,020
Retained earnings 9 3,216,672 3,284,033
SHAREHOLDERS' FUNDS 3,316,692 3,384,053

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

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

The directors acknowledge their 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.

ANDOVER FORK TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02882425)

BALANCE SHEET - continued
31 December 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2025 and were signed on its behalf by:





Mr E J Clapcott - Director


ANDOVER FORK TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02882425)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Andover Fork Truck Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable for the sale, hire and repair of fork trucks and related ancillary services.

Revenue is recognised on the sale of fork trucks and parts once the goods have been delivered to or collected by the customer at which time the risks and rewards associated with the sale are transferred to the customer.

Revenue is recognised on the provision of repair services upon completion of the job following customer inspection and approval of the works undertaken, at which time the risks and rewards associated with the works are transferred to the customer.

Revenue is recognised on the hire of fork trucks in accordance with the hire agreement entered into with the customer ahead of the first hire term at which time the risks and rewards of the services provided are transferred to the customer.

The company sells trucks to an asset finance company who in turn enters into a contract hire agreement with its customers. As part of the sale the company has to maintain the trucks free of charge over the contract hire agreement term and therefore recognises revenue on these sales over this term. The risks and rewards associated with these sales are transferred to the customer when the order is placed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on cost and 15% on cost

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

Truck fleet, included within plant and machinery, are carried at their fair value using a policy of revaluation. The assets are valued at their open market value by the directors at the balance sheet date

Stocks
The company holds a stock of consumable parts that it requires so as to maintain both its own fleet of hire trucks and those sold under contract hire agreements. As this stock is not subject to either technological or physical obsolescence it is valued at cost.

The majority of parts required for major truck repairs are sourced and delivered by the company's suppliers who offer a next day delivery facility so that the company does not have to hold large stocks. Stock is ordered and issued to jobs as required.

ANDOVER FORK TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02882425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Cash and cash equivalents
These comprise cash at bank and other short-term highly liquid bank deposits.

Creditors

Creditors are not interest bearing and are stated at their nominal value.

Reserves
The movement in the fair value of the fork truck asset fleet to open market value at the balance sheet date is recognised in a non-distributable reserve. This reserve, which also contains appropriate depreciation and deferred tax provisions, may not be distributed to the shareholders.

Any movements in the reserve are not liable to corporation tax and an appropriate deferred tax provision is provided within the reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 793,556
AMORTISATION
At 1 January 2024
and 31 December 2024 793,556
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

ANDOVER FORK TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02882425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 463,500 6,267,062 6,730,562
Additions 570,074 761,190 1,331,264
Disposals - (599,618 ) (599,618 )
Revaluations - 329,100 329,100
At 31 December 2024 1,033,574 6,757,734 7,791,308
DEPRECIATION
At 1 January 2024 9,270 3,342,175 3,351,445
Charge for year 21,073 868,603 889,676
Eliminated on disposal - (314,466 ) (314,466 )
At 31 December 2024 30,343 3,896,312 3,926,655
NET BOOK VALUE
At 31 December 2024 1,003,231 2,861,422 3,864,653
At 31 December 2023 454,230 2,924,887 3,379,117

The company's hire fleet has been uplifted to fair value. The comparable amounts for the hire fleet at original cost are:

31.12.2431.12.23
£ £

Cost2,937,5772,937,577
Depreciation(1,944,526)(1,627,248 )
Net book value993,051 1,310,329

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2015 - 246,644 246,644
Valuation in 2016 - 154,089 154,089
Valuation in 2017 - 525,039 525,039
Valuation in 2018 - 324,772 324,772
Valuation in 2019 - 277,445 277,445
Valuation in 2020 - 171,831 171,831
Valuation in 2021 - 369,736 369,736
Valuation in 2022 - 624,106 624,106
Valuation in 2023 - 413,109 413,109
Valuation in 2024 - 329,100 329,100
Cost 1,033,574 3,321,863 4,355,437
1,033,574 6,757,734 7,791,308

ANDOVER FORK TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02882425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 January 2024
and 31 December 2024 19,000
DEPRECIATION
At 1 January 2024 17,100
Charge for year 1,900
At 31 December 2024 19,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 1,900

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 463,847 587,207
Other debtors 50,770 300,668
514,617 887,875

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 247,456 109,294
Taxation and social security 258,832 395,245
Other creditors 589,600 801,642
1,095,888 1,306,181

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Other creditors 941,615 334,612

ANDOVER FORK TRUCK SERVICES LIMITED (REGISTERED NUMBER: 02882425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

9. RESERVES

31.12.2431.12.23
£ £

Distributable2,537,1192,614,882
Non - distributable679,553669,151
3,216,6723,284,033

Movement in non-distributable reserve 31.12.2431.12.23
£ £

Balance brought forward 669,151719,615
Asset disposals(114,083)(324,148)
Fair value uplift329,100413,109
Movement in depreciation(201,147)(137,679)
Movement in deferred tax(3,468)(1,747)
Balance carried forward 679,553669,151

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and
31 December 2023:
31.12.2431.12.23
£ £

Balance outstanding at the start of the year250,000373,058
Amounts advanced320,549250,000
Amount repaid(570,549)(373,058)
Balance outstanding at the end of the year-250,000
The loans were repayable on demand and subject to interest at commercial rates.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ANDOVER FORK TRUCK SERVICES LIMITED

The following reproduces the text of the report prepared for the directors 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andover Fork Truck Services Limited for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Andover Fork Truck Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Andover Fork Truck Services Limited and state those matters that we have agreed to state to the Board of Directors of Andover Fork Truck Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andover Fork Truck Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Andover Fork Truck Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Andover Fork Truck Services Limited. You consider that Andover Fork Truck Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Andover Fork Truck Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN


4 August 2025