Company Registration No. 5246886 (England and Wales)
Chafford Fork Trucks Limited
Unaudited accounts
for the year ended 31 December 2024
Chafford Fork Trucks Limited
Unaudited accounts
Contents
Chafford Fork Trucks Limited
Company Information
for the year ended 31 December 2024
Directors
Mark Smith
Maurice Clout
Company Number
5246886 (England and Wales)
Registered Office
Unit 1 Bonny Downs Farm
Doesgate Lane
Bulphan
Upminster
Essex
RM14 3TB
England
Accountants
Keywhites Limited
26 Grisedale Gardens
Purley
Surrey
CR8 1EN
Chafford Fork Trucks Limited
Statement of financial position
as at 31 December 2024
Tangible assets
584,319
613,164
Inventories
177,777
140,958
Cash at bank and in hand
67,420
66,949
Creditors: amounts falling due within one year
(493,425)
(456,725)
Net current liabilities
(88,631)
(61,722)
Total assets less current liabilities
495,688
551,442
Creditors: amounts falling due after more than one year
(241,507)
(367,778)
Provisions for liabilities
Deferred tax
(145,417)
(102,576)
Called up share capital
120
120
Profit and loss account
108,644
80,968
Shareholders' funds
108,764
81,088
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by
Mark Smith
Director
Company Registration No. 5246886
Chafford Fork Trucks Limited
Notes to the Accounts
for the year ended 31 December 2024
Chafford Fork Trucks Limited is a private company, limited by shares, registered in England and Wales, registration number 5246886. The registered office is Unit 1 Bonny Downs Farm, Doesgate Lane, Bulphan, Upminster, Essex, RM14 3TB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Chafford Fork Trucks Limited
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
1,156,565
85,055
5,635
1,247,255
Additions
118,697
-
-
118,697
At 31 December 2024
1,275,262
85,055
5,635
1,365,952
At 1 January 2024
566,808
63,615
3,668
634,091
Charge for the year
141,691
5,360
491
147,542
At 31 December 2024
708,499
68,975
4,159
781,633
At 31 December 2024
566,763
16,080
1,476
584,319
At 31 December 2023
589,757
21,440
1,967
613,164
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
500,960
507,503
- Motor vehicles
4,484
5,979
Amounts falling due within one year
Trade debtors
85,120
101,373
Other debtors
74,477
85,723
Chafford Fork Trucks Limited
Notes to the Accounts
for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
34,500
10,000
Obligations under finance leases and hire purchase contracts
199,245
205,621
Trade creditors
182,865
149,905
Taxes and social security
57,194
18,419
Other creditors
19,621
72,780
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
237,340
353,611
Allotted, called up and fully paid:
40 Ordinary shares of £1 each
40
40
80 Ordinary shares A of £1 each
80
80
9
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
16,054
48,525
Later than one year and not later than five years
27,813
4,000
10
Average number of employees
During the year the average number of employees was 6 (2023: 7).