| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| FOR |
| CMS FORK TRUCKS LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2025 |
| FOR |
| CMS FORK TRUCKS LTD |
| CMS FORK TRUCKS LTD (REGISTERED NUMBER: 07713728) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 January 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| CMS FORK TRUCKS LTD |
| COMPANY INFORMATION |
| for the Year Ended 31 January 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Douglas Bank House |
| Wigan Lane |
| Wigan |
| Lancashire |
| WN1 2TB |
| CMS FORK TRUCKS LTD (REGISTERED NUMBER: 07713728) |
| STATEMENT OF FINANCIAL POSITION |
| 31 January 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| CMS FORK TRUCKS LTD (REGISTERED NUMBER: 07713728) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 January 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CMS FORK TRUCKS LTD (REGISTERED NUMBER: 07713728) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 January 2025 |
| 1. | STATUTORY INFORMATION |
| CMS Fork Trucks Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| The principal accounting policies adopted in the preparation of the financial statements are set out below. |
| Turnover |
| Turnover is recognised at the fair value of the consideration received or receivable for fork truck hire, trucks sold, servicing and repairs, excluding value added tax. |
| Turnover from trucks on hire is recognised in the period in which the hire took place. |
| Turnover from truck sales is recognised when the significant risks and rewards of ownership of the trucks has transferred to the customer, usually at the point when the customer receives the truck. |
| Turnover from servicing and repairs is recognised once the repair work has been completed. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following rates in order to write off the costs less estimated residual value of each asset over its estimated useful life. |
| Long leasehold | 2% on cost |
| Plant and machinery | 5% on reducing balance |
| Motor Vehicles | 25% on reducing balance |
| Computer Equipment | 25% on reducing balance |
| Stocks |
| Stocks are recognised at the lower of cost and selling price, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| Debt instruments that are payable or receivable within one year, typically trade creditors and trade debtors, are measured initially and subsequently at the undiscounted amount of the cash that is expected to be paid or received. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| CMS FORK TRUCKS LTD (REGISTERED NUMBER: 07713728) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 January 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
| 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. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and |
| leasehold | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| Disposals | ( |
) |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| CMS FORK TRUCKS LTD (REGISTERED NUMBER: 07713728) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 January 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| Disposals | ( |
) |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| The net book value of tangible fixed assets includes £ 613,424 (2024 - £ 601,967 ) in respect of assets held under hire purchase contracts. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| CMS FORK TRUCKS LTD (REGISTERED NUMBER: 07713728) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 January 2025 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| £ | £ |
| Gross obligations repayable: |
| Within one year |
| Between one and five years |
| Finance charges repayable: |
| Within one year |
| Between one and five years |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 224,727 | 376,174 |
| Bank loans are secured over all assets of the company. |
| Hire purchase contracts are secured on the assets concerned. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 514,788 | 533,753 |
| CMS FORK TRUCKS LTD (REGISTERED NUMBER: 07713728) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 January 2025 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 February 2024 |
| Movement on deferred taxation | (18,965 | ) |
| Balance at 31 January 2025 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The loans are repayable on demand. Interest has been charged at 2.25%. |
| 12. | RELATED PARTY DISCLOSURES |
| Included in Other creditors is £28,200 (2024: £13,864) owed by the company to Mr C Whiteley. |