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REGISTERED NUMBER: 07167449 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Samson Lifting (UK) Ltd

Samson Lifting (UK) Ltd (Registered number: 07167449)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Samson Lifting (UK) Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr A Satchell





REGISTERED OFFICE: Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA





BUSINESS ADDRESS: Unit 3 Corolin Road
(Off Lower Tuffley Lane)
Gloucester
Gloucestershire
GL2 5DQ





REGISTERED NUMBER: 07167449 (England and Wales)





ACCOUNTANTS: ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

Samson Lifting (UK) Ltd (Registered number: 07167449)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,905 15,590

CURRENT ASSETS
Stocks 5 148,300 158,971
Debtors 6 72,375 63,228
Cash at bank 12,402 4,894
233,077 227,093
CREDITORS
Amounts falling due within one year 7 105,248 115,422
NET CURRENT ASSETS 127,829 111,671
TOTAL ASSETS LESS CURRENT
LIABILITIES

140,734

127,261

PROVISIONS FOR LIABILITIES 8 2,452 2,962
NET ASSETS 138,282 124,299

CAPITAL AND RESERVES
Called up share capital 9 30 30
Retained earnings 10 138,252 124,269
SHAREHOLDERS' FUNDS 138,282 124,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:



Mr A Satchell - Director


Samson Lifting (UK) Ltd (Registered number: 07167449)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Samson Lifting (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks 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.

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.

Samson Lifting (UK) Ltd (Registered number: 07167449)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 14,420 32,994 6,816 54,230
Additions - - 2,122 2,122
Disposals (4,200 ) - (839 ) (5,039 )
At 28 February 2023 10,220 32,994 8,099 51,313
DEPRECIATION
At 1 March 2022 13,469 18,371 6,800 38,640
Charge for year 237 3,656 717 4,610
Eliminated on disposal (4,003 ) - (839 ) (4,842 )
At 28 February 2023 9,703 22,027 6,678 38,408
NET BOOK VALUE
At 28 February 2023 517 10,967 1,421 12,905
At 28 February 2022 951 14,623 16 15,590

5. STOCKS
28.2.23 28.2.22
£    £   
Stocks 148,300 158,971

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 70,333 61,186
Prepayments 2,042 2,042
72,375 63,228

Samson Lifting (UK) Ltd (Registered number: 07167449)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 24,059 32,931
Trade creditors 36,994 36,404
Corporation tax 4,579 1,294
Social security and other taxes 2,250 2,081
Pension fund 680 -
VAT 12,495 10,021
Directors' current accounts 21,691 30,191
Accrued expenses 2,500 2,500
105,248 115,422

8. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 2,452 2,962

Deferred
tax
£   
Balance at 1 March 2022 2,962
Credit to Income Statement during year (510 )
Accelerated capital allowances
Balance at 28 February 2023 2,452

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
10 "A" Ordinary £1 10 10
10 "B" Ordinary £1 10 10
10 "C" Ordinary £1 10 10
30 30

10. RESERVES
Retained
earnings
£   

At 1 March 2022 124,269
Profit for the year 17,983
Dividends (4,000 )
At 28 February 2023 138,252

Samson Lifting (UK) Ltd (Registered number: 07167449)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

11. RELATED PARTY DISCLOSURES

During the year the director, Mr A Satchell, made net withdrawals from his account of £8,500. The balance on his account at 28 February 2023 was £21,691 in credit (2022 - £30,191).

Also during the year Mr Satchell received dividends from the company of £2,000 (2022 - £2,000).

12. ULTIMATE CONTROLLING PARTY

Mr A Satchell and Mrs C Satchell, being husband and wife, together form the ultimate controlling parties by virtue of their holding all of the company's issued share capital.