Atlasforklift.co.uk Ltd 30/06/2020 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 2020

Atlasforklift.co.uk Ltd

Contents

Statement of financial position

Notes to the financial statements

Atlasforklift.co.uk Ltd

Statement of financial position

30 June 2020

		2020		2019
	Note	£	£	£	£

Fixed assets
Investments	4	417,432		417,432
		_______		_______
			417,432		417,432

Current assets
Debtors	5	260,000		-
Cash at bank and in hand		-		73
		_______		_______
		260,000		73
Creditors: amounts falling due
within one year	6	( 260,200)		( 200)
		_______		_______
Net current liabilities			( 200)		( 127)
			_______		_______
Total assets less current liabilities			417,232		417,305

			_______		_______
Net assets			417,232		417,305
			_______		_______

Capital and reserves
Called up share capital	7		71,432		71,432
Profit and loss account			345,800		345,873
			_______		_______
Shareholders funds			417,232		417,305
			_______		_______

For the year ending 30 June 2020 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 11 August 2020 , 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 2020

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 2019 and 30 June 2020	417,432	417,432
	_______	_______
Impairment
At 1 July 2019 and 30 June 2020	-	-
	_______	_______
Carrying amount
At 30 June 2020	417,432	417,432
	_______	_______
At 30 June 2019	417,432	417,432
	_______	_______

5. Debtors

	2020	2019
	£	£
Amounts owed by group undertakings	260,000	-
	_______	_______

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Amounts owed to group undertakings	260,200	200
	_______	_______

7. Called up share capital

Issued, called up and fully paid

	2020		2019
	No	£	No	£
Ordinary shares of £ 1.00 each	71,432	71,432	71,432	71,432
	_______	_______	_______	_______

8. Controlling party

The company is a wholly owned subsidiary of Atlas Forklift Holdings Limited , a company incorporated in England and Wales. The registered office address of Atlas Forklift Holdings Limited is Atlas House, Bell Street, West Bromwich, West Midlands, B70 7BT.