Mid Sussex Forklift Services Limited
Statement of financial position
as at 31 March 2025
Intangible assets
14,200
16,566
Tangible assets
920,418
862,188
Inventories
124,443
136,727
Cash at bank and in hand
490,089
469,410
Creditors: amounts falling due within one year
(162,401)
(195,063)
Net current assets
550,276
599,917
Total assets less current liabilities
1,484,894
1,478,671
Provisions for liabilities
Deferred tax
(153,089)
(137,739)
Net assets
1,331,805
1,340,932
Called up share capital
2
2
Profit and loss account
1,331,803
1,340,930
Shareholders' funds
1,331,805
1,340,932
For the year ending 31 March 2025 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 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 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 and authorised for issue on 30 December 2025 and were signed on its behalf by
Peter Kelly
Director
Company Registration No. 03018500
Mid Sussex Forklift Services Limited
Notes to the Accounts
for the year ended 31 March 2025
Mid Sussex Forklift Services Limited is a private company, limited by shares, registered in England and Wales, registration number 03018500. The registered office is 8 Amberley Close, Burgess Hill, West Sussex, RH15 8JB.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
25%
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Mid Sussex Forklift Services Limited
Notes to the Accounts
for the year ended 31 March 2025
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2024
361,954
830,491
179,384
2,330
24,828
1,398,987
Additions
-
169,712
-
-
-
169,712
Disposals
-
(77,450)
-
-
-
(77,450)
At 31 March 2025
361,954
922,753
179,384
2,330
24,828
1,491,249
At 1 April 2024
50,720
366,593
94,971
1,398
23,117
536,799
Charge for the year
3,170
28,785
21,103
93
428
53,579
On disposals
-
(19,547)
-
-
-
(19,547)
At 31 March 2025
53,890
375,831
116,074
1,491
23,545
570,831
At 31 March 2025
308,064
546,922
63,310
839
1,283
920,418
At 31 March 2024
311,234
463,898
84,413
932
1,711
862,188
Amounts falling due within one year
Trade debtors
94,569
186,037
Accrued income and prepayments
3,576
2,806
Mid Sussex Forklift Services Limited
Notes to the Accounts
for the year ended 31 March 2025
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
25,042
49,075
Taxes and social security
37,711
84,395
Other creditors
23,506
22,019
Loans from directors
45,298
1,928
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Average number of employees
During the year the average number of employees was 4 (2024: 5).