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REGISTERED NUMBER: 13537406 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Red Lift Hire Limited

Red Lift Hire Limited (Registered number: 13537406)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Red Lift Hire Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: R E Davies





REGISTERED OFFICE: Unit 12 Bondor Business Centre
London Road Industrial Estate
London Road
Baldock
Hertfordshire
SG7 6HP





REGISTERED NUMBER: 13537406 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Red Lift Hire Limited (Registered number: 13537406)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,256 33,076

CURRENT ASSETS
Debtors 6,634 3,385
Cash at bank 4,276 3,923
10,910 7,308
CREDITORS
Amounts falling due within one year 42,971 25,663
NET CURRENT LIABILITIES (32,061 ) (18,355 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,195

14,721

CREDITORS
Amounts falling due after more than one
year

(14,760

)

(6,413

)

PROVISIONS FOR LIABILITIES 6 (9,255 ) (4,361 )
NET ASSETS 2,180 3,947

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 2,080 3,847
SHAREHOLDERS' FUNDS 2,180 3,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

Red Lift Hire Limited (Registered number: 13537406)

Abridged Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 November 2023 and were signed by:





R E Davies - Director


Red Lift Hire Limited (Registered number: 13537406)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Red Lift Hire Limited 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.

The financial statements have been prepared on a going concern basis. The Director considers this basis to be appropriate despite the fact that the balance sheet shows net current liabilities at 31 March 2023.

Should the company be unable to continue trading, adjustments would have to be made to adjust the value of the assets to their recoverable amount and to provide for any further liabilities which might arise.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


Red Lift Hire Limited (Registered number: 13537406)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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 the Finance leases are depreciated over their estimated useful lives or the leased term, whichever is 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 33,076
Additions 33,449
At 31 March 2023 66,525
DEPRECIATION
Charge for year 8,269
At 31 March 2023 8,269
NET BOOK VALUE
At 31 March 2023 58,256
At 31 March 2022 33,076

Red Lift Hire Limited (Registered number: 13537406)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022 12,950
Additions 16,000
At 31 March 2023 28,950
DEPRECIATION
Charge for year 3,238
At 31 March 2023 3,238
NET BOOK VALUE
At 31 March 2023 25,712
At 31 March 2022 12,950

5. LOANS

An analysis of the maturity of loans is given below:


31.3.2331.3.22
££
Amounts falling due within one year or on demand: Bank loans1,912-

Amounts falling due between one and five years: Bank loans - 1-5 years7,110-

6. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 9,255 4,361

Deferred
tax
£   
Balance at 1 April 2022 4,361
Accelerated capital allowances 4,894
Balance at 31 March 2023 9,255

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100