North Essex Forklifts Ltd - Filleted accounts

Registered number

07164621

North Essex Forklifts Ltd

Filleted Accounts

31 March 2025

North Essex Forklifts Ltd
Registered number:		07164621
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		7,474			9,757

Current assets
Stocks		61,527			43,468
Debtors	4	26,703			44,782
Cash at bank and in hand		6,378			-
		94,608			88,250

Creditors: amounts falling due within one year	5	(37,306)			(46,620)

Net current assets			57,302			41,630

Total assets less current liabilities			64,776			51,387

Creditors: amounts falling due after more than one year	6		-			(4,603)

Provisions for liabilities			(1,420)			(1,854)


Net assets			63,356			44,930

Capital and reserves
Called up share capital			1			1
Profit and loss account			63,355			44,929

Shareholder's funds			63,356			44,930

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr M E Stockdale
Director
Approved by the board on 11 August 2025

North Essex Forklifts Ltd
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	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).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			25% reducing balance
	Office Equipment			25% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company, including the director					2		2


3	Tangible fixed assets
		Office equipment		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	3,160		8,183		22,295		33,638
	Additions	271		-		-		271
	Disposals	(298)		-		-		(298)
	At 31 March 2025	3,133		8,183		22,295		33,611

	Depreciation
	At 1 April 2024	1,109		7,553		15,219		23,881
	Charge for the year	550		158		1,769		2,477
	On disposals	(221)		-		-		(221)
	At 31 March 2025	1,438		7,711		16,988		26,137

	Net book value
	At 31 March 2025	1,695		472		5,307		7,474
	At 31 March 2024	2,051		630		7,076		9,757


4	Debtors					2025		2024
£							£

	Trade debtors					26,130		38,921
	Other debtors					573		5,861
						26,703		44,782


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					4,320		15,489
	Trade creditors					12,771		17,688
	Taxation and social security costs					13,023		11,223
	Other creditors					7,192		2,220
						37,306		46,620


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					-		4,603


7	Other information

	North Essex Forklifts Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	8 Blue Barns Business Park
	Old Ipswich Road, Ardleigh
	Colchester
	Essex
	CO7 7FX