G B Lift Trucks Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01536675 (England and Wales)

Abbreviated Accounts for the Year Ended 31 December 2014

for

G B Lift Trucks Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

L G Coates

SECRETARY:

Mrs S J Coates

REGISTERED OFFICE:

Unit 29, Willow Road

Trent Lane Industrial Estate

Castle Donington

Derbyshire

DE74 2NP

REGISTERED NUMBER:

01536675 (England and Wales)

FIXED ASSETS

Tangible assets

2

220,767

185,614

CURRENT ASSETS

Stocks

10,800

12,890

Debtors

411,702

423,466

Cash at bank and in hand

34,969

8,889

457,471

445,245

CREDITORS

Amounts falling due within one year

3

238,751

220,058

NET CURRENT ASSETS

218,720

225,187

TOTAL ASSETS LESS CURRENT LIABILITIES

439,487

410,801

CREDITORS

Amounts falling due after more than one year

3

(26,666

)

(36,857

)

PROVISIONS FOR LIABILITIES

(5,754

)

(8,835

)

NET ASSETS

407,067

365,109

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

406,967

365,009

SHAREHOLDERS' FUNDS

407,067

365,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 20 August 2015 and were signed by:

L G Coates - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at between 15% and 25% in order to write off each asset over its estimated useful life.

Stocks

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

moving items.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

369,963

Additions

142,879

Disposals

(65,917

)

At 31 December 2014

446,925

DEPRECIATION

At 1 January 2014

184,349

Charge for year

65,559

Eliminated on disposal

(23,750

)

At 31 December 2014

226,158

NET BOOK VALUE

At 31 December 2014

220,767

At 31 December 2013

185,614

3.

CREDITORS

Creditors include an amount of £ 63,639 (31.12.13 - £ 83,468 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director introduced and withdrew money from the company by way of a director's loan

account. As at 31 December 2014 the director owed the company £65,083 (2013: £82,292). The interest charge

during the year is £2,832 (2013: £3,542) and the loan is payable on demand.

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling company is GB Materials Handling Limited, a company registered in England & Wales,

by virtue of its 100% holding of the company's issued share capital.