Paramount Fork Trucks Limited Filleted accounts for Companies House (small and micro)

BENNIE PLANT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02880362

PARAMOUNT FORK TRUCKS LIMITED

FILLETED FINANCIAL STATEMENTS

30 September 2019

PARAMOUNT FORK TRUCKS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2019

CONTENTS	PAGES

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3 to 5

PARAMOUNT FORK TRUCKS LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

DIRECTOR	Mrs E Ayres

REGISTERED OFFICE	The Old Piggeries
	Cranford Road
	Burton Latimer
	Kettering
	Northamptonshire
	NN15 5TB

AUDITOR	Meadows & Co Limited
	Chartered Accountants & Statutory Auditor
	Headlands House
	1 Kings Court
	Kettering Parkway
	Kettering
	NN15 6WJ

BANKERS	HSBC Bank Plc
	15 High Street
	Market Harborough
	Leicestershire
	LE16 7NN

PARAMOUNT FORK TRUCKS LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2019

	2019		2018
Note	£	£	£	£

CURRENT ASSETS

Debtors	4	955,977	1,119,950
Cash at bank and in hand		2,514	891
		---------	------------
		958,491	1,120,841

CREDITORS: amounts falling due within one year	5	25,010		103,388
		---------		------------
NET CURRENT ASSETS			933,481		1,017,453
			---------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			933,481		1,017,453
			---------		------------

CAPITAL AND RESERVES

Called up share capital fully paid	10,000	10,000
Profit and loss account	923,481	1,007,453
	---------	------------
SHAREHOLDERS FUNDS	933,481	1,017,453
	---------	------------

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.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 4 December 2020 , and are signed on behalf of the board by:

Mrs E Ayres
Director

Company registration number: 02880362

PARAMOUNT FORK TRUCKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2019

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Piggeries, Cranford Road, Burton Latimer, Kettering, Northamptonshire, NN15 5TB.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Hire fleet	-	15% straight line

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

4. DEBTORS

	2019	2018
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	953,715	1,117,688
Other debtors	2,262	2,262
	---------	------------
	955,977	1,119,950
	---------	------------

5. CREDITORS: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	–	( 76)
Amounts owed to group undertakings and undertakings in which the company has a participating interest	25,010	25,010
Social security and other taxes	–	78,424
Other creditors	–	30
	--------	---------
	25,010	103,388
	--------	---------

Included within other creditors are amounts totalling £nil (2017 - £57,529) relating to finance lease agreements which are secured by the company.

6. CONTINGENCIES

There is an unlimited multilateral guarantee with other group undertakings in respect of group borrowings which are secured by a fixed and floating charge over all assets of the company. The amounts subject to this guarantee at 30 September 2019 was £nil (2018: £nil).

7. SUMMARY AUDIT OPINION

The auditor's report for the year dated 4 December 2020 was unqualified.

The senior statutory auditor was David Kelland , for and on behalf of Meadows & Co Limited .

8. RELATED PARTY TRANSACTIONS

Advantage has been taken of the exemption conferred by FRS 102 1a to subsidiary undertakings, of whose voting rights are controlled within the group, not to disclose transactions with other group companies.

9. CONTROLLING PARTY

The directors consider that the parent undertaking of this company and its controlling party by virtue of its 100% ownership of the share capital of this company is Bennie Holdings Limited. The ultimate controlling part of the company is Mrs E Ayres . The largest and smallest group of undertakings for which group accounts have been prepared are those of Bennie Holdings Limited . Consolidated financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.