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Registered number: 06113542
Forklift Agency Limited
Financial Statements
For The Year Ended 31 May 2025
L J Hanbury Limited
143 Tamworth Road
Long Eaton
Nottingham
NG10 1BY
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 06113542
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 700 800
Tangible Assets 5 8,564 7,656
Investments 6 1 1
9,265 8,457
CURRENT ASSETS
Debtors 7 54,305 75,751
Cash at bank and in hand 64,086 4,430
118,391 80,181
Creditors: Amounts Falling Due Within One Year 8 (51,495 ) (38,977 )
NET CURRENT ASSETS (LIABILITIES) 66,896 41,204
TOTAL ASSETS LESS CURRENT LIABILITIES 76,161 49,661
NET ASSETS 76,161 49,661
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account 75,961 49,461
SHAREHOLDERS' FUNDS 76,161 49,661
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Rhys Thomas Mitchell Adams
Director
08/10/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Forklift Agency Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06113542 . The registered office is First Floor Suite 1.01b, 62 King Street, Belper, Derbyshire, DE56 1PZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
- -
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2024 1,000
As at 31 May 2025 1,000
Amortisation
As at 1 June 2024 200
Provided during the period 100
As at 31 May 2025 300
Net Book Value
As at 31 May 2025 700
As at 1 June 2024 800
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2024 26,815 2,800 29,615
Additions 3,762 - 3,762
As at 31 May 2025 30,577 2,800 33,377
Depreciation
As at 1 June 2024 19,159 2,800 21,959
Provided during the period 2,854 - 2,854
As at 31 May 2025 22,013 2,800 24,813
Net Book Value
As at 31 May 2025 8,564 - 8,564
As at 1 June 2024 7,656 - 7,656
6. Investments
Subsidiaries
£
Cost or Valuation
As at 1 June 2024 1
As at 31 May 2025 1
Provision
As at 1 June 2024 -
As at 31 May 2025 -
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 May 2025 1
As at 1 June 2024 1
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 19,488 20,934
Other debtors 34,817 54,817
54,305 75,751
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 3,924 -
Other creditors 33,827 33,804
Taxation and social security 13,744 5,173
51,495 38,977
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 200 200
Page 4