Forkers Scotland Ltd - Accounts to registrar (filleted) - small 18.2
Forkers Scotland Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2021 |
| for |
| Forkers Scotland Ltd |
| Forkers Scotland Ltd (Registered number: SC386334) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Forkers Scotland Ltd |
| Company Information |
| for the Year Ended 31 March 2021 |
| DIRECTORS: |
| SECRETARIES: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Hanover Court |
| 5 Queen Street |
| Lichfield |
| Staffordshire |
| WS13 6QD |
| BANKERS: |
| 380 Birmingham Road |
| Wylde Green |
| Sutton Coldfield |
| West Midlands |
| B72 1YH |
| SOLICITORS: |
| Olympus Avenue |
| Leamington Spa |
| Warwickshire |
| CV34 6BF |
| Forkers Scotland Ltd (Registered number: SC386334) |
| Balance Sheet |
| 31 March 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Inventories | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 | ( |
) | ( |
) |
| 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 |
| Forkers Scotland Ltd (Registered number: SC386334) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| Forkers Scotland Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The company is currently reporting net liabilities of £747,586 (2020: £483,478). |
| Liabilities due to the company's parent company Forkers Limited and all related companies amount to £915,368 at the Balance Sheet date. The company's parent company and related companies have agreed that only when funds come available, after discharging amounts due to creditors will they withdraw monies from the company to reduce this indebtedness. This agreement has been made to help the company manage it's cashflows. |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue from contracts for the provision of construction services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Inventories 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. |
| Forkers Scotland Ltd (Registered number: SC386334) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2020 |
| and 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| 5. | INVENTORIES |
| 2021 | 2020 |
| £ | £ |
| Stocks |
| Forkers Scotland Ltd (Registered number: SC386334) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 6. | DEBTORS |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts recoverable on contract |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Amounts owed to associates | 158,504 | 291,980 |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2021 | 2020 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| Forkers Scotland Ltd (Registered number: SC386334) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 April 2020 | ( |
) |
| Deficit for the year | ( |
) |
| At 31 March 2021 | ( |
) |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 12. | RELATED PARTY DISCLOSURES |
| P.Forker Plant Hire Limited |
| Associated company |
| During the year the company entered into the following transactions on an open market basis with P.Forker Plant Hire Limited, a company of which the directors Mr P Forker, Mrs B Forker, Mrs H Boyle and Mrs R Curran are directors and shareholders. |
| Description of transaction | Income | Payments |
| 2021 | 2020 | 2021 | 2020 |
| £ | £ | £ | £ |
| Purchases and expenses recharged | 11,277 | 47,029 | 16,078 | 146,037 |
| Hire, leasing and rents recharged | - | - | 520,993 | 305,978 |
| At 31st March 2021, the company owed P.Forker Plant Hire Limited £ 158,504 (2020: £291,980). |
| 13. | ULTIMATE CONTROLLING PARTY |
| H.R.F. Holdings Limited is regarded by the directors as being the company's ultimate parent company. |
| The ultimate controlling party is Mr P and Mrs B Forker by virtue of their ownership of 100% of the issued ordinary voting share capital in the parent company. |