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Unaudited Financial Statements for the Year Ended 30 April 2017 |
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H.F.T. Forklifts Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 April 2017 |
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for |
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H.F.T. Forklifts Limited |
H.F.T. Forklifts Limited (Registered number: 02597074) |
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Contents of the Financial Statements |
for the year ended 30 April 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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H.F.T. Forklifts Limited |
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Company Information |
for the year ended 30 April 2017 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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H.F.T. Forklifts Limited (Registered number: 02597074) |
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Balance Sheet |
30 April 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | 11 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Share premium | 13 |
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Capital redemption reserve | 13 |
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Retained earnings | 13 |
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SHAREHOLDERS' FUNDS |
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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. |
H.F.T. Forklifts Limited (Registered number: 02597074) |
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Balance Sheet - continued |
30 April 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
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H.F.T. Forklifts Limited (Registered number: 02597074) |
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Notes to the Financial Statements |
for the year ended 30 April 2017 |
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1. | STATUTORY INFORMATION |
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H.F.T. Forklifts Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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No adjustments were made to the reported financial position and performance of the company on its first time |
adoption of FRS102 (section 1A). |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
H.F.T. Forklifts Limited (Registered number: 02597074) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2017 |
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3. | ACCOUNTING POLICIES - continued |
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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. |
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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 shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to income as incurred. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost |
At 1 May 2016 |
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Additions |
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Disposals |
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At 30 April 2017 |
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Depreciation |
At 1 May 2016 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2017 |
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Net book value |
At 30 April 2017 |
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At 30 April 2016 |
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The net book value of plant and machinery includes £397,935 (2016 - £539,025) in respect of assets held under |
finance leases or hire purchase contracts. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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H.F.T. Forklifts Limited (Registered number: 02597074) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Hire purchase contracts (see note 9) |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable operating |
leases |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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H.F.T. Forklifts Limited (Registered number: 02597074) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2017 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Bank loans and overdrafts are secured by a charge over freehold and leasehold properties together with a |
debenture on other assets. |
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11. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax | 135,530 | 148,855 |
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Deferred |
tax |
£ |
Balance at 1 May 2016 |
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Provided during year | ( |
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Balance at 30 April 2017 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 24,375 | 24,375 |
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13. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
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At 1 May 2016 |
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1,417,553 |
Profit for the year |
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Dividends | ( |
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At 30 April 2017 |
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1,472,955 |
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14. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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