Elev8 Fork Trucks Ltd - Accounts to registrar (filleted) - small 17.3

Elev8 Fork Trucks Ltd - Accounts to registrar (filleted) - small 17.3


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REGISTERED NUMBER: 08560720(England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2017

FOR

ELEV8 FORK TRUCKS LTD

ELEV8 FORK TRUCKS LTD (REGISTERED NUMBER: 08560720)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th June 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELEV8 FORK TRUCKS LTD

COMPANY INFORMATION
for the Year Ended 30th June 2017







DIRECTOR: J M L Tomblin





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 08560720(England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

ELEV8 FORK TRUCKS LTD (REGISTERED NUMBER: 08560720)

BALANCE SHEET
30th June 2017

30/6/17 30/6/16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,325 25,455

CURRENT ASSETS
Stocks 30,362 43,822
Debtors 5 3,486 3,593
Cash at bank 70,004 35,660
103,852 83,075
CREDITORS
Amounts falling due within one year 6 93,652 58,827
NET CURRENT ASSETS 10,200 24,248
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,525

49,703

CREDITORS
Amounts falling due after more than one
year

7

(10,399

)

(44,259

)

PROVISIONS FOR LIABILITIES 8 (3,862 ) (5,091 )
NET ASSETS 16,264 353

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 16,262 351
SHAREHOLDERS' FUNDS 16,264 353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ELEV8 FORK TRUCKS LTD (REGISTERED NUMBER: 08560720)

BALANCE SHEET - continued
30th June 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 22nd January 2018and were signed by:





J M L Tomblin- Director


ELEV8 FORK TRUCKS LTD (REGISTERED NUMBER: 08560720)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th June 2017

1. STATUTORY INFORMATION

Elev8 Fork Trucks Ltd 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1(2016 - 1) .

ELEV8 FORK TRUCKS LTD (REGISTERED NUMBER: 08560720)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th June 2017

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st July 2016 3,964 5,462 25,876 437 35,739
Additions - 1,159 - - 1,159
At 30th June 2017 3,964 6,621 25,876 437 36,898
DEPRECIATION
At 1st July 2016 1,112 1,307 7,639 226 10,284
Charge for year 713 947 4,559 70 6,289
At 30th June 2017 1,825 2,254 12,198 296 16,573
NET BOOK VALUE
At 30th June 2017 2,139 4,367 13,678 141 20,325
At 30th June 2016 2,852 4,155 18,237 211 25,455

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/17 30/6/16
£    £   
Trade debtors 3,486 761
Other debtors - 2,832
3,486 3,593

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/17 30/6/16
£    £   
Hire purchase contracts 3,859 3,859
Trade creditors 19,113 21,316
Tax 8,151 3,922
Social security and other taxes 4,212 -
Directors' current accounts 56,817 28,230
Accrued expenses 1,500 1,500
93,652 58,827

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/17 30/6/16
£    £   
Hire purchase contracts 10,399 14,259
Directors' loan accounts - 30,000
10,399 44,259

ELEV8 FORK TRUCKS LTD (REGISTERED NUMBER: 08560720)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th June 2017

8. PROVISIONS FOR LIABILITIES
30/6/17 30/6/16
£    £   
Deferred tax 3,862 5,091

Deferred
tax
£   
Balance at 1st July 2016 5,091
Accelerated capital allowances (1,229 )
Balance at 30th June 2017 3,862

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30/6/17 30/6/16
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Retained
earnings
£   

At 1st July 2016 351
Profit for the year 27,661
Dividends (11,750 )
At 30th June 2017 16,262

11. CONTINGENT LIABILITIES

The company had no contingent liabilities at 30th June 2017 (2016 - none).

12. CAPITAL COMMITMENTS
30/6/17 30/6/16
£    £   
Contracted but not provided for in the
financial statements - -

13. ULTIMATE CONTROLLING PARTY

Mr J M L Tomblin, together with his wife, owns 100% of the issued share capital of the company.

14. FIRST TIME ADOPTION OF FINANCIAL REPORTING STANDARD 102

These financial statements are the first which the company has prepared in accordance with the provisions of
Financial Reporting Standard 102 (FRS 102), including those of Section 1A relating to "Small Entities". The
transition to FRS 102 has had no effect on any item included within the opening balance sheet of the comparative
period at 1st July 2015, the income statement for the comparative period ended 30th June 2016 or the closing
balance sheet of the comparative period at 30th June 2016.