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REGISTERED NUMBER: 04327176 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

LIFTWORKS LIMITED

LIFTWORKS LIMITED (REGISTERED NUMBER: 04327176)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


LIFTWORKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mrs JK Lines
Mr LA Lines
Mr J Brooks
Mr P Hann
Mr P Juan





SECRETARY: Miss A O'Rourke





REGISTERED OFFICE: Unit 6 Deacon Trading Estate
Knight Road
Strood
Kent
ME2 2AU





REGISTERED NUMBER: 04327176 (England and Wales)





ACCOUNTANTS: Elliott, Mortlock, Busby & Co Limited
12 High Street
Stanford le Hope
Essex
SS17 0EY

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LIFTWORKS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Liftworks Limited for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Liftworks Limited, as a body, in accordance with the terms of our engagement letter dated 6 August 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Liftworks Limited and state those matters that we have agreed to state to the Board of Directors of Liftworks Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Liftworks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Liftworks Limited. You consider that Liftworks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Liftworks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Elliott, Mortlock, Busby & Co Limited
12 High Street
Stanford le Hope
Essex
SS17 0EY


14 November 2023

LIFTWORKS LIMITED (REGISTERED NUMBER: 04327176)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 271,221 175,009
271,221 175,009

CURRENT ASSETS
Stocks 128,442 125,645
Debtors 7 2,057,722 1,490,592
Cash at bank 781,181 222,846
2,967,345 1,839,083
CREDITORS
Amounts falling due within one year 8 1,525,667 856,904
NET CURRENT ASSETS 1,441,678 982,179
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,712,899

1,157,188

CREDITORS
Amounts falling due after more than one
year

9

(20,596

)

(30,305

)

PROVISIONS FOR LIABILITIES 10 (67,468 ) (32,687 )
NET ASSETS 1,624,835 1,094,196

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,624,735 1,094,096
SHAREHOLDERS' FUNDS 1,624,835 1,094,196

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LIFTWORKS LIMITED (REGISTERED NUMBER: 04327176)

BALANCE SHEET - continued
31 MAY 2023


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 Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





Mrs JK Lines - Director


LIFTWORKS LIMITED (REGISTERED NUMBER: 04327176)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Liftworks 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of goods and services in the ordinary course of the company's activities.

The company recognises revenue when:
The amount of revenue can be reliably measured,
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2007, was fully amortised over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Capital expenditure on premises - 10% straight line basis
Plant and equipment - 25% on reducing balance
Fixtures, fittings and office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.


LIFTWORKS LIMITED (REGISTERED NUMBER: 04327176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Pension costs and other post-retirement benefits
The company operates two defined contribution pension schemes and the pension charge represents the amounts payable by the company to the funds in respect of the year.

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 33 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 2,650
AMORTISATION
At 1 June 2022
and 31 May 2023 2,650
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

LIFTWORKS LIMITED (REGISTERED NUMBER: 04327176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. TANGIBLE FIXED ASSETS
Fixtures,
Capital fittings
expenditure and
on Plant and office Motor
premises equipment equipment vehicles Totals
£    £    £    £    £   
COST
At 1 June 2022 26,100 26,795 70,820 183,604 307,319
Additions - - 1,790 153,411 155,201
Disposals - - (25,369 ) - (25,369 )
At 31 May 2023 26,100 26,795 47,241 337,015 437,151
DEPRECIATION
At 1 June 2022 26,100 24,904 38,303 43,003 132,310
Charge for year - 492 8,509 48,870 57,871
Eliminated on disposal - - (24,251 ) - (24,251 )
At 31 May 2023 26,100 25,396 22,561 91,873 165,930
NET BOOK VALUE
At 31 May 2023 - 1,399 24,680 245,142 271,221
At 31 May 2022 - 1,891 32,517 140,601 175,009

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,535,743 598,840
Other debtors 521,979 891,752
2,057,722 1,490,592

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 836,683 357,353
Corporation tax 171,350 90,121
Social security and other taxes 288,632 182,617
Other creditors 97,790 73,671
Directors' current accounts 1,143 18,683
Deferred income 120,069 124,459
1,525,667 856,904

LIFTWORKS LIMITED (REGISTERED NUMBER: 04327176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 10,596 20,305
20,596 30,305

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 67,468 32,687

Deferred
tax
£   
Balance at 1 June 2022 32,687
Charge to Income Statement during year 34,781
Balance at 31 May 2023 67,468

The provision for deferred taxation is made up of accelerated capital allowances.

11. PENSION COMMITMENTS

The company operates two defined contribution pension schemes, for the employees and directors. The assets of the schemes are held separately from those of the company in independently administered funds. At the balance sheet date there were £22,259 unpaid contributions (2022: £15,586).

12. COMMITMENTS, GUARANTEES AND CONTINGENCIES

The Company has a total commitments, guarantees and contingencies as at year end 2023 of £215,441 (2022: £296,522)

Included in the above are minimum lease payments under non-cancellable operating leases, falling due as follows:

2023 2022
£ £
Within one year 83,66490,421
Between one and five years131,777206,101
More than five years--
215,441296,522

13. RELATED PARTY DISCLOSURES

Included in debtors is a loan of £392,189 (2022 £392,189) to a Company under the control of the directors. The loan is interest free and repayable on demand.