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L S Forklifts Limited |
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Unaudited Financial Statements for the Year Ended 30 November 2018 |
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REGISTERED NUMBER:
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L S Forklifts Limited |
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Unaudited Financial Statements for the Year Ended 30 November 2018 |
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L S Forklifts Limited (Registered number: NI057391) |
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Contents of the Financial Statements |
for the year ended 30 November 2018 |
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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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L S Forklifts Limited |
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Company Information |
for the year ended 30 November 2018 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Certified Accountants |
Second Floor |
Murray's Exchange |
1-9 Linfield Road |
Belfast |
BT12 5DR |
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Bankers: |
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39 Market Square |
Dungannon |
Co. Tyrone |
BT70 1JJ |
L S Forklifts Limited (Registered number: NI057391) |
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Balance Sheet |
30 November 2018 |
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2018 | 2017 |
Notes | £ | £ |
Fixed assets |
Intangible assets | 4 |
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Tangible assets | 5 |
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Current assets |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 8 | ( |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
9 |
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Net assets |
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Capital and reserves |
Called up share capital | 12 |
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Revaluation 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. |
L S Forklifts Limited (Registered number: NI057391) |
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Balance Sheet - continued |
30 November 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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L S Forklifts Limited (Registered number: NI057391) |
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Notes to the Financial Statements |
for the year ended 30 November 2018 |
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1. | Statutory information |
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L S 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. | Accounting policies |
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Basis of preparing the financial statements |
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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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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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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 Income Statement, |
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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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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3. | Employees and directors |
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The average number of employees during the year was
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L S Forklifts Limited (Registered number: NI057391) |
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Notes to the Financial Statements - continued |
for the year ended 30 November 2018 |
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4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 December 2017 |
and 30 November 2018 |
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Amortisation |
At 1 December 2017 |
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Amortisation for year |
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At 30 November 2018 |
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Net book value |
At 30 November 2018 |
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At 30 November 2017 |
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5. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 December 2017 |
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Impairments | - | (1,116 | ) | (3,234 | ) | (80 | ) | (4,430 | ) |
At 30 November 2018 |
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Depreciation |
At 1 December 2017 |
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Charge for year |
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At 30 November 2018 |
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Net book value |
At 30 November 2018 |
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At 30 November 2017 |
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6. | Stocks |
2018 | 2017 |
£ | £ |
Stocks |
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7. | Debtors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Trade debtors |
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Prepayments |
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L S Forklifts Limited (Registered number: NI057391) |
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Notes to the Financial Statements - continued |
for the year ended 30 November 2018 |
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8. | Creditors: amounts falling due within one year |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts (see note 10) |
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Other loans (see note 10) |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Net wages payable | - | 241 |
VAT | 23,598 | 25,256 |
Pensions payable | 60 | 866 |
Directors' current accounts | 3,073 | 17,014 |
Accrued expenses |
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9. | Creditors: amounts falling due after more than one year |
2018 | 2017 |
£ | £ |
Other loans (see note 10) |
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Hire purchase contracts |
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10. | Loans |
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An analysis of the maturity of loans is given below: |
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2018 | 2017 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Other loans |
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Amounts falling due between one and two years: |
Other loans - 1-2 years | - |
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L S Forklifts Limited (Registered number: NI057391) |
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Notes to the Financial Statements - continued |
for the year ended 30 November 2018 |
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11. | Secured debts |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdraft |
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Other loans |
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Hire purchase contracts | 15,946 | - |
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The bank overdraft is secured by way of a personal guarantee provided by the directors. |
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Other loans are secured on the shares of the company. |
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Hire Purchase creditors are secured on the on assets to which they relate. |
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12. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
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13. | Reserves |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 December 2017 |
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188,625 |
Profit for the year |
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Dividends | ( |
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At 30 November 2018 |
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205,334 |