Bolzoni Ltd. - Accounts to registrar (filleted) - small 18.2
Bolzoni Ltd. - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| FOR |
| BOLZONI LTD. |
| BOLZONI LTD. (REGISTERED NUMBER: 01937306) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| BOLZONI LTD. |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants and |
| Statutory Auditors |
| 17 George Street |
| St Helens |
| Merseyside |
| WA10 1DB |
| BOLZONI LTD. (REGISTERED NUMBER: 01937306) |
| BALANCE SHEET |
| 31 DECEMBER 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BOLZONI LTD. (REGISTERED NUMBER: 01937306) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| 1. | STATUTORY INFORMATION |
| Bolzoni Ltd. is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
| Sales of goods |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods. |
| Rendering of services |
| When the outcome of a transaction can be estimated reliably, turnover from service and installation work is recognised using the percentage of completion method. |
| Equipment Hire |
| Turnover from the hire of equipment is recognised on a straight line basis over the period of hire. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
| Improvements to property | - | 5% on cost |
| Plant and machinery | - | 15% - 20% on cost |
| Fixtures and fittings | - | 15% on cost |
| Motor vehicles | - | 25% reducing balance |
| Computer equipment | - | 25% on cost |
| Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the average cost formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| BOLZONI LTD. (REGISTERED NUMBER: 01937306) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
| Foreign currencies |
| Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. |
| Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. |
| Hire purchase and leasing commitments |
| Rentals payable under operating leases are charged against profits on a straight line basis over the periods of the leases. Assets acquired under finance leases and hire purchase contracts are capitalised as tangible fixed assets and depreciated in accordance with the accounting policy on depreciation. The related obligations, net of finance costs allocated to future periods, are included in creditors. Finance costs are charged against profits on a straight line basis over the periods of the contracts. |
| Employee benefits |
| When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
| The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. |
| Debtors and creditors receivable / payable 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 administrative expenses. |
| Going concern |
| Despite the current coronavirus pandemic and Brexit affecting many sectors of the economy, the lead times between order placement and delivery has meant that the company's turnover has been unaffected during the year. |
| The directors have prepared detailed forecasts incorporating a slight reduction in profits and believe that the company has more than sufficient resources to continue in operational existence for at least 12 months from the date of approval of the accounts. For this reason, they continue to adopt the going concern basis in preparing the accounts. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| BOLZONI LTD. (REGISTERED NUMBER: 01937306) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| 5. | STOCKS |
| 2021 | 2020 |
| £ | £ |
| Stocks |
| Work-in-progress |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Corporation tax |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| BOLZONI LTD. (REGISTERED NUMBER: 01937306) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Non-cancellable operating leases |
| 2021 | 2020 |
| £ | £ |
| Within one year | 4,948 | 4,738 |
| Between one and five years | 226,754 | 279,711 |
| In more than five years | - | - |
| 231,702 | 284,449 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 350,000 | 350,000 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company's ultimate parent undertaking is Hyster-Yale Material Handling Inc, a company incorporated in the United States of America. |