ATLANTIC FORK LIFTS LIMITED


Directors	Mr J L Gill
	Mr L W Gill


Company Secretary	Mrs L Whent


Registered Address	Bel House
	Fisher Street
	Newcastle Upon Tyne
	NE6 4LT


Registered Number	03594501 (England and Wales)

Statement of Financial Position
29 October 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		762,184		687,038
			762,184		687,038
Current assets
Stocks		453,860		484,195
Debtors	4	897,540		830,820
Cash at bank and on hand		418		418
		1,351,818		1,315,433
Creditors amounts falling due within one year	5	(388,714)		(400,656)
Net current assets (liabilities)			963,104		914,777
Total assets less current liabilities			1,725,288		1,601,815
Creditors amounts falling due after one year	6		(127,865)		(94,176)
Provisions for liabilities	7		(139,600)		(125,000)
Net assets			1,457,823		1,382,639
Capital and reserves
Called up share capital			619,394		619,394
Profit and loss account			838,429		763,245
Shareholders' funds			1,457,823		1,382,639

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 25 March 2026, and are signed on its behalf by:

Mr L W Gill
Director
Registered Company No. 03594501

ATLANTIC FORK LIFTS LIMITED

Notes to the Financial Statements
for the year ended 29 October 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

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/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

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.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	6
	Fixtures and fittings	5
	Vehicles	5

	Finance leases and hire purchase contracts
	Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease. Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease.

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Finance lease and HP contracts are secured on the assets to which they relate. Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.

Trade and other creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Finance lease and HP contracts are secured on the assets to which they relate.

Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company.

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	13		13

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 30 October 24	901,111	129,482	98,619	1,129,212
Additions	186,076	-	3,701	189,777
Disposals	(57,951)	-	-	(57,951)
At 29 October 25	1,029,236	129,482	102,320	1,261,038
Depreciation and impairment
At 30 October 24	311,122	76,526	54,526	442,174
Charge for year	43,360	13,200	7,200	63,760
On disposals	(7,080)	-	-	(7,080)
At 29 October 25	347,402	89,726	61,726	498,854
Net book value
At 29 October 25	681,834	39,756	40,594	762,184
At 29 October 24	589,989	52,956	44,093	687,038

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	471,101	421,691
Amounts owed by group undertakings	279,887	336,594
Other debtors	6,372	10,162
Prepayments and accrued income	140,180	62,373
Total	897,540	830,820

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	156,790	146,824
Bank borrowings and overdrafts	63,412	63,723
Taxation and social security	63,073	73,310
Finance lease and HP contracts	90,094	66,260
Other creditors	10,129	37,863
Accrued liabilities and deferred income	5,216	12,676
Total	388,714	400,656

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	7,559
Other creditors	127,865	86,617
Total	127,865	94,176


	Bank borrowings and overdrafts are secured by fixed and floating charges over the assets of the company. Finance lease and HP contracts equal to £127,865 (2024 - £86,617) are included within other creditors and are secured against the assets to which they relate.

7.	Provisions for liabilities
	Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made.

	2025	2024
	£	£
Net deferred tax liability (asset)	139,600	125,000
Total	139,600	125,000

8.	Other commitments
	At 29 October 2025 the company had future lease payments under non-cancellable operating leases of £32,334 (2024 - £64,803).

9.	Parent-subsidiary relationships
	As part of a small group, this company is exempt from producing group accounts. These accounts are for this company alone. This company's parent undertaking is Servace Limited, a company registered in England, company number 03789141. The ultimate controlling party is Mr L W Gill by virtue of his majority shareholdings in Servace Limited.