Andover Fork Truck Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02882425 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ANDOVER FORK TRUCK SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

10

DIRECTORS:

Mr E J Clapcott

Mrs D B Clapcott

Mr J E Clapcott

Mr L Clapcott

REGISTERED OFFICE:

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

REGISTERED NUMBER:

02882425 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

6,576,656

3,864,653

6,576,656

3,864,653

CURRENT ASSETS

Stocks

27,655

27,643

Debtors

6

523,858

514,617

Cash at bank and in hand

2,087,347

1,851,997

2,638,860

2,394,257

CREDITORS

Amounts falling due within one year

7

1,079,862

1,095,888

NET CURRENT ASSETS

1,558,998

1,298,369

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,135,654

5,163,022

CREDITORS

Amounts falling due after more than one
year

8

(712,236

)

(941,615

)

PROVISIONS FOR LIABILITIES

(1,034,443

)

(904,715

)

NET ASSETS

6,388,975

3,316,692

CAPITAL AND RESERVES

Called up share capital

100,020

Retained earnings

9

6,288,955

3,216,672

6,388,975

3,316,692

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2026 and were signed on its behalf by:

Mr E J Clapcott - Director

1.	STATUTORY INFORMATION

Andover Fork Truck Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable for the sale, hire and repair of fork trucks and related ancillary services.

Revenue is recognised on the sale of fork trucks and parts once the goods have been delivered to or collected by the customer at which time the risks and rewards associated with the sale are transferred to the customer.

Revenue is recognised on the provision of repair services upon completion of the job following customer inspection and approval of the works undertaken, at which time the risks and rewards associated with the works are transferred to the customer.

Revenue is recognised on the hire of fork trucks in accordance with the hire agreement entered into with the customer ahead of the first hire term at which time the risks and rewards of the services provided are transferred to the customer.

The company sells trucks to an asset finance company who in turn enters into a contract hire agreement with its customers. As part of the sale the company has to maintain the trucks free of charge over the contract hire agreement term and therefore recognises revenue on these sales over this term. The risks and rewards associated with these sales are transferred to the customer when the order is placed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

20% on cost

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

Truck fleet, included within plant and machinery, are carried at their fair value using a policy of revaluation. The assets are valued at their open market value by the directors at the balance sheet date

Stocks

The company holds a stock of consumable parts that it requires so as to maintain both its own fleet of hire trucks and those sold under contract hire agreements. As this stock is not subject to either technological or physical obsolescence it is valued at cost.

The majority of parts required for major truck repairs are sourced and delivered by the company's suppliers who offer a next day delivery facility so that the company does not have to hold large stocks. Stock is ordered and issued to jobs as required.

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.

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.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Cash and cash equivalents

These comprise cash at bank and other short-term highly liquid bank deposits.

Creditors

Creditors are not interest bearing and are stated at their nominal value.

Reserves

The movement in the fair value of the fork truck asset fleet and freehold property to open market value at the balance sheet date is recognised in a non-distributable reserve. This reserve, which also contains appropriate depreciation and deferred tax provisions, may not be distributed to the shareholders.

Any movements in the reserve are not liable to corporation tax and an appropriate deferred tax provision is provided within the reserve.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2024 - 42 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

793,556

AMORTISATION

At 1 January 2025

and 31 December 2025

793,556

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

machinery

£

COST OR VALUATION

At 1 January 2025

1,033,574

463,896

24,782

Additions

-

104,497

-

Disposals

-

Revaluations

2,459,898

-

At 31 December 2025

3,493,472

568,393

24,782

DEPRECIATION

At 1 January 2025

30,343

273,194

12,557

Charge for year

21,073

43,208

3,563

Eliminated on disposal

-

At 31 December 2025

51,416

316,402

16,120

NET BOOK VALUE

At 31 December 2025

3,442,056

251,991

8,662

At 31 December 2024

1,003,231

190,702

12,225

Fixtures

and

Motor

Hire

fittings

vehicles

fleet

Totals

£

COST OR VALUATION

At 1 January 2025

78,886

1,135,773

5,054,397

7,791,308

Additions

12,157

111,469

568,600

796,723

Disposals

-

(92,735

)

(348,940

)

(441,675

)

Revaluations

-

657,504

3,117,402

At 31 December 2025

91,043

1,154,507

5,931,561

11,263,758

DEPRECIATION

At 1 January 2025

48,354

581,444

2,980,763

3,926,655

Charge for year

10,967

279,251

651,381

1,009,443

Eliminated on disposal

-

(74,405

)

(174,591

)

(248,996

)

At 31 December 2025

59,321

786,290

3,457,553

4,687,102

NET BOOK VALUE

At 31 December 2025

31,722

368,217

2,474,008

6,576,656

At 31 December 2024

30,532

554,329

2,073,634

3,864,653

The company's hire fleet has been uplifted to fair value. The comparable amounts for the hire fleet at original cost are:

2025

2024

£

Cost

3,429,899

3,047,495

Depreciation

(2,143,732

)

(1,879,932

)

Net book value

1,286,167

1,167,563

Freehold property has been uplifted to fair value. The comparable amounts for the freehold property at original cost are:

2025

2024

£

Cost

1,033,574

Depreciation

(51,416

)

(30,343

)

Net book value

982,158

1,003,231

Cost or valuation at 31 December 2025 is represented by:

Improvements

Freehold

to

Plant and

property

machinery

£

Valuation in 2025

2,459,898

-

Cost

1,033,574

568,393

24,782

3,493,472

568,393

24,782

Fixtures

and

Motor

Hire

fittings

vehicles

fleet

Totals

£

Valuation in 2016

-

400,733

Valuation in 2017

-

525,039

Valuation in 2018

-

324,772

Valuation in 2019

-

277,445

Valuation in 2020

-

171,831

Valuation in 2021

-

369,736

Valuation in 2022

-

624,106

Valuation in 2023

-

413,109

Valuation in 2024

-

329,100

Valuation in 2025

-

657,504

3,117,402

Cost

91,043

1,154,507

1,838,186

4,710,485

91,043

1,154,507

5,931,561

11,263,758

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Hire

fleet

£

COST OR VALUATION

At 1 January 2025

and 31 December 2025

19,000

DEPRECIATION

At 1 January 2025

and 31 December 2025

19,000

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

443,120

463,847

Other debtors

22,820

1,970

Prepayments

57,918

48,800

523,858

514,617

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

119,299

247,456

Tax

365,254

206,192

Social security and other taxes

22,833

25,663

VAT

109,870

26,977

Other creditors

414,671

568,414

Accrued expenses

47,935

21,186

1,079,862

1,095,888

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Other creditors

712,236

941,615

9.

RESERVES

2025

2024

£

Distributable

3,405,335

2,537,119

Non - distributable

2,883,620

679,553

6,288,955

3,216,672

Movement in non-distributable reserve

2025

2024

£

Balance brought forward

679,553

669,151

Asset disposals

(162,743

)

(114,083

)

Fair value uplift

3,117,403

329,100

Movement in depreciation

(15,904

)

(201,147

)

Movement in deferred tax

(734,689

)

(3,468

)

Balance carried forward

2,883,620

679,553

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and

31 December 2024:

2025

2024

£

Balance outstanding at the start of the year

-

250,000

Amounts advanced

58,173

320,549

Amount repaid

(58,173

)

(570,549

)

Balance outstanding at the end of the year

-

The loans were repayable on demand and subject to interest at commercial rates.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andover Fork Truck Services Limited for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Andover Fork Truck Services 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 profit of Andover Fork Truck Services Limited. You consider that Andover Fork Truck Services 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 Andover Fork Truck Services 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 financial statements.

Rothmans LLP

Chartered Accountants

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

10 August 2026