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REGISTERED NUMBER: 06330834 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Ritelift Limited

Ritelift Limited (Registered number: 06330834)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ritelift Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: D P Lilley





REGISTERED OFFICE: 2 Dolphin Point
Dolphin Way
Purfleet
Essex
RM19 1NR





REGISTERED NUMBER: 06330834 (England and Wales)





ACCOUNTANTS: Nichols & Co ( Accountancy ) Limited
Chartered Accountants
Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR

Ritelift Limited (Registered number: 06330834)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £ £
FIXED ASSETS
Tangible assets 4 578,569 495,096
Investments 5 200 200
578,769 495,296

CURRENT ASSETS
Stocks 6 60,525 51,092
Debtors 7 531,501 330,412
Cash at bank and in hand 151,909 157,416
743,935 538,920
CREDITORS
Amounts falling due within one year 8 (399,392 ) (306,873 )
NET CURRENT ASSETS 344,543 232,047
TOTAL ASSETS LESS CURRENT
LIABILITIES

923,312

727,343

CREDITORS
Amounts falling due after more than one
year

9

(109,344

)

(154,167

)

PROVISIONS FOR LIABILITIES 12 (72,756 ) (56,437 )
NET ASSETS 741,212 516,739

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 741,112 516,639
SHAREHOLDERS' FUNDS 741,212 516,739

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.

Ritelift Limited (Registered number: 06330834)

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.

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 29 November 2023 and were signed by:





D P Lilley - Director


Ritelift Limited (Registered number: 06330834)

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

1. STATUTORY INFORMATION

Ritelift 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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Ritelift Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.
Land and buildings leasehold - in accordance with the property
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at 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.

Ritelift Limited (Registered number: 06330834)

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

2. ACCOUNTING POLICIES - continued

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 11 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Land and Fixtures
buildings Plant and and Motor
leasehold machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 April 2022 32,652 2,557,380 190,477 56,796 2,837,305
Additions - 347,474 5,716 42,505 395,695
Disposals - - - (16,065 ) (16,065 )
At 31 March 2023 32,652 2,904,854 196,193 83,236 3,216,935
DEPRECIATION
At 1 April 2022 8,707 2,130,749 155,457 47,296 2,342,209
Charge for year 3,265 265,407 28,174 15,376 312,222
Eliminated on disposal - - - (16,065 ) (16,065 )
At 31 March 2023 11,972 2,396,156 183,631 46,607 2,638,366
NET BOOK VALUE
At 31 March 2023 20,680 508,698 12,562 36,629 578,569
At 31 March 2022 23,945 426,631 35,020 9,500 495,096


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 April 2022
and 31 March 2023 200
NET BOOK VALUE
At 31 March 2023 200
At 31 March 2022 200

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Riteworx Limited
Registered office: 2 Dolphin Point, Dolphin Way, Purfleet, Essex, RM19 1NR
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00

Ritelift Limited (Registered number: 06330834)

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

5. FIXED ASSET INVESTMENTS - continued

Ritesafety Hire & Sales Limited
Registered office: 2 Dolphin Point, Dolphin Way, Purfleet, Essex, RM19 1NR
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00

6. STOCKS
31.3.23 31.3.22
£ £
Stocks 60,525 51,092

7. DEBTORS
31.3.23 31.3.22
£ £
Amounts falling due within one year:
Trade debtors 471,132 270,911
Amounts owed by group undertakings 23,362 23,362
Prepayments 22,607 21,739
517,101 316,012

Amounts falling due after more than one year:
Other debtors 14,400 14,400

Aggregate amounts 531,501 330,412

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Bank loans and overdrafts (see note 10) 50,000 50,000
Hire purchase contracts (see note 11) 8,875 -
Trade creditors 245,768 168,466
Corporation tax 23,771 27,548
Social security and other taxes 7,082 9,038
VAT 43,692 25,033
Other creditors 977 848
Credit Card 1,795 829
Directors' current accounts 7,592 17,411
Accrued expenses 9,840 7,700
399,392 306,873

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£ £
Bank loans (see note 10) 104,167 154,167
Hire purchase contracts (see note 11) 5,177 -
109,344 154,167

Ritelift Limited (Registered number: 06330834)

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

10. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£ £
Amounts falling due within one year or on demand:
Bank loans 50,000 50,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 104,167 154,167

11. LEASING AGREEMENTS

At the reporting end date the company had outstanding commitments of £508,689 (2021: £615,518) for future minimum lease payments under non - cancellable leases.

12. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£ £
Deferred tax 72,756 56,437

Deferred tax
£
Balance at 1 April 2022 56,437
Provided during year 16,319
Balance at 31 March 2023 72,756

13. CALLED UP SHARE CAPITAL

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

14. RESERVES
Retained
earnings
£

At 1 April 2022 516,639
Profit for the year 263,473
Dividends (39,000 )
At 31 March 2023 741,112

15. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed Mr D P Lilley £7,592 (2022: £17,411).

This loan is interest free and repayable on demand.

Ritelift Limited (Registered number: 06330834)

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

16. RELATED PARTY DISCLOSURES

Ritesafety Hire & Sales Limited - Subsidiary

Ritesafety Hire & Sales Limited is registered in England and Wales, and the company registration number is 11395226.

At the year end, the company was owed £909 (2022: £909) from Ritesafety Hire & Sales Limited. This loan carries no interest and is repayable on demand.

Riteworx Limited - Subsidiary

Riteworx Limited is registered in England and Wales, and the company registration number is 11395332.

At the year end, the company was owed £22,453 (2022: £22,453) from Riteworx Limited. This loan carries no interest and is repayable on demand.

17. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D P Lilley by virtue of his shareholding within the company.