Company registration number 06429383 (England and Wales)
SOUTH WALES FORK TRUCKS HIRE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SOUTH WALES FORK TRUCKS HIRE LIMITED
COMPANY INFORMATION
Directors
Mr JB Selby
Mrs J E V M S Selby
Miss EL Selby
Secretary
Miss EL Selby
Company number
06429383
Registered office
Pentreclwydau
Resolven
Neath
SA11 4DU
Accountants
WBV Limited
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
Wales
SA1 8QY
SOUTH WALES FORK TRUCKS HIRE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
SOUTH WALES FORK TRUCKS HIRE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTH WALES FORK TRUCKS HIRE LIMITED FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of South Wales Fork Trucks Hire Limited for the year ended 31 March 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of South Wales Fork Trucks Hire Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of South Wales Fork Trucks Hire Limited and state those matters that we have agreed to state to the b oard of d irectors of South Wales Fork Trucks Hire Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than South Wales Fork Trucks Hire Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that South Wales Fork Trucks Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of South Wales Fork Trucks Hire Limited. You consider that South Wales Fork Trucks Hire Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of South Wales Fork Trucks Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

WBV Limited
Chartered Accountants
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
SA1 8QY
Wales
11 March 2026
SOUTH WALES FORK TRUCKS HIRE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
-
0
Tangible assets
4
1,205,775
1,100,722
Current assets
Stocks
12,650
12,650
Debtors
5
129,048
363,080
Cash at bank and in hand
189,511
176,929
331,209
552,659
Creditors: amounts falling due within one year
6
(327,576)
(493,591)
Net current assets
3,633
59,068
Total assets less current liabilities
1,209,408
1,159,790
Creditors: amounts falling due after more than one year
7
(212,211)
(169,283)
Provisions for liabilities
(187,388)
(89,562)
Net assets
809,809
900,945
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
809,709
900,845
Total equity
809,809
900,945
SOUTH WALES FORK TRUCKS HIRE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 March 2026 and are signed on its behalf by:
Mr JB Selby
Director
Company registration number 06429383 (England and Wales)
SOUTH WALES FORK TRUCKS HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

South Wales Fork Trucks Hire Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pentreclwydau, Resolven, Neath, SA11 4DU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the aquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

1.4
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Improvements to property
10% on cost
Plant and equipment
at varying rates on cost
Fixtures and fittings
15% on cost
Computers
50% on cost
Motor vehicles
25% on cost

The directors consider that the hire fleet plant, included in plant and machinery, is maintained in such a state of repair that its residual value is at least equal to its carrying value. Accordingly, no depreciation is charged from 1st April 2016 on the grounds of immateriality. Annual impairment reviews are undertaken and provisions made at the end of each reporting period where necessary.

1.5
Stocks

Stocks are stated at the lower of cost and net realiseable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SOUTH WALES FORK TRUCKS HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
24
22
SOUTH WALES FORK TRUCKS HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
295,000
Amortisation and impairment
At 1 April 2024 and 31 March 2025
295,000
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
4
Tangible fixed assets
Freehold land and buildings
Improvements to property
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 April 2024
327,524
130,350
759,517
6,858
1,558
491,700
1,717,507
Additions
-
0
-
0
137,812
104
-
0
49,842
187,758
Disposals
-
0
-
0
-
0
-
0
-
0
(31,987)
(31,987)
At 31 March 2025
327,524
130,350
897,329
6,962
1,558
509,555
1,873,278
Depreciation and impairment
At 1 April 2024
33,564
62,364
68,434
2,209
1,176
449,039
616,786
Depreciation charged in the year
6,550
13,035
12,682
941
294
36,540
70,042
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
-
0
(19,325)
(19,325)
At 31 March 2025
40,114
75,399
81,116
3,150
1,470
466,254
667,503
Carrying amount
At 31 March 2025
287,410
54,951
816,213
3,812
88
43,301
1,205,775
At 31 March 2024
293,960
67,986
691,083
4,650
382
42,661
1,100,722
SOUTH WALES FORK TRUCKS HIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
124,258
362,779
Amounts owed by group undertakings and undertakings in which the company has a participating interest
288
126
Other debtors
4,502
175
129,048
363,080
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
22,231
21,307
Trade creditors
101,851
342,105
Corporation tax
-
0
24,194
Other taxation and social security
41,786
35,188
Other creditors
161,708
70,797
327,576
493,591
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
146,129
169,283
Other creditors
66,082
-
0
212,211
169,283
Creditors which fall due after five years are payable as follows:
Payable by instalments
-
107,388

Bank loans and overdrafts are secured on the company as a whole.

Hire purchase agreements are secured on the assets in which the agreement relates.

8
Ultimate controlling party

The company is controlled by the directors who are the shareholders of the company.

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