Atlasforklift.co.uk Ltd 30/06/2019 iXBRL

Atlasforklift.co.uk Ltd 30/06/2019 iXBRL

ATLASFORKLIFT.CO.UK LTD - Company Information

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Registrar
Company registration number: 10390208
Atlasforklift.co.uk Ltd
Unaudited filleted financial statements
30 June 2019
Atlasforklift.co.uk Ltd
Contents
Statement of financial position
Notes to the financial statements
Atlasforklift.co.uk Ltd
Statement of financial position
30 June 2019
2019 2018
Note £ £ £ £
Fixed assets
Investments 4 417,432 417,432
_______ _______
417,432 417,432
Current assets
Cash at bank and in hand 73 42
_______ _______
73 42
Creditors: amounts falling due
within one year 5 ( 200) ( 100)
_______ _______
Net current liabilities ( 127) ( 58)
_______ _______
Total assets less current liabilities 417,305 417,374
_______ _______
Net assets 417,305 417,374
_______ _______
Capital and reserves
Called up share capital 6 71,432 71,432
Profit and loss account 345,873 345,942
_______ _______
Shareholders funds 417,305 417,374
_______ _______
For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The 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 Act 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 August 2019 , and are signed on behalf of the board by:
Mr A P Harris
Director
Company registration number: 10390208
Atlasforklift.co.uk Ltd
Notes to the financial statements
Year ended 30 June 2019
1. General information
The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office and business address is Atlas House, Bell Street, West Bromwich, West Midlands, B70 7BT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling , which is the functional currency of the entity and have been rounded to the nearest £1.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price . Any losses arising from impairment are recognised in the profit and loss account in other adminsitrative expenses.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 July 2018 and 30 June 2019 417,432 417,432
_______ _______
Impairment
At 1 July 2018 and 30 June 2019 - -
_______ _______
Carrying amount
At 30 June 2019 417,432 417,432
_______ _______
At 30 June 2018 417,432 417,432
_______ _______
5. Creditors: amounts falling due within one year
2019 2018
£ £
Amounts owed to group undertakings 200 -
Other creditors - 100
_______ _______
200 100
_______ _______
6. Called up share capital
Issued, called up and fully paid
2019 2018
No £ No £
Ordinary shares of £ 1.00 each 71,432 71,432 71,432 71,432
_______ _______ _______ _______