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REGISTERED NUMBER: 06569773 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

LIFTSAFE SOLUTIONS LIMITED

LIFTSAFE SOLUTIONS LIMITED (REGISTERED NUMBER: 06569773)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIFTSAFE SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Mr W C Housham





REGISTERED OFFICE: Sandars Road
Hepaham Road Industrial Estate
GAINSBOROUGH
Lincolnshire
DN21 1RZ





REGISTERED NUMBER: 06569773 (England and Wales)





ACCOUNTANTS: Rigel Wolf Ltd
Orion House
28A Spital Terrace
GAINSBOROUGH
Lincolnshire
DN21 2HQ

LIFTSAFE SOLUTIONS LIMITED (REGISTERED NUMBER: 06569773)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,937 25,962

CURRENT ASSETS
Stocks 38,251 37,671
Debtors 5 86,601 91,291
Cash at bank and in hand 66 15
124,918 128,977
CREDITORS
Amounts falling due within one year 6 145,320 119,386
NET CURRENT (LIABILITIES)/ASSETS (20,402 ) 9,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,535

35,553

CREDITORS
Amounts falling due after more than one
year

7

(36,248

)

(41,553

)

PROVISIONS FOR LIABILITIES 11 - (2,293 )
NET LIABILITIES (31,713 ) (8,293 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 (31,813 ) (8,393 )
SHAREHOLDERS' FUNDS (31,713 ) (8,293 )

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.

LIFTSAFE SOLUTIONS LIMITED (REGISTERED NUMBER: 06569773)

BALANCE SHEET - continued
28 FEBRUARY 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 22 February 2024 and were signed by:





Mr W C Housham - Director


LIFTSAFE SOLUTIONS LIMITED (REGISTERED NUMBER: 06569773)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Liftsafe Solutions 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

LIFTSAFE SOLUTIONS LIMITED (REGISTERED NUMBER: 06569773)

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.

Going concern
At 28 February 2023 the company had a net excess of liabilities over assets of £31,713 (2022 - £8,293) and was technically insolvent.

The company is dependent upon the continued financial support of its bankers, which has been confirmed as ongoing. The financial statements have therefore been prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2022 2,903 24,507 129
Additions - 6,348 -
Disposals - - -
At 28 February 2023 2,903 30,855 129
DEPRECIATION
At 1 March 2022 1,684 16,140 19
Charge for year 122 2,202 16
Eliminated on disposal - - -
At 28 February 2023 1,806 18,342 35
NET BOOK VALUE
At 28 February 2023 1,097 12,513 94
At 28 February 2022 1,219 8,367 110

LIFTSAFE SOLUTIONS LIMITED (REGISTERED NUMBER: 06569773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 39,720 2,827 70,086
Additions - - 6,348
Disposals (9,650 ) - (9,650 )
At 28 February 2023 30,070 2,827 66,784
DEPRECIATION
At 1 March 2022 24,261 2,020 44,124
Charge for year 3,542 202 6,084
Eliminated on disposal (8,361 ) - (8,361 )
At 28 February 2023 19,442 2,222 41,847
NET BOOK VALUE
At 28 February 2023 10,628 605 24,937
At 28 February 2022 15,459 807 25,962

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 64,853 72,857
Other debtors 135 135
Directors' current accounts 12,806 10,510
Tax 5,113 4,366
Prepayments and accrued income 3,694 3,423
86,601 91,291

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts (see note 8) 26,930 22,139
Other loans (see note 8) 4,553 -
Trade creditors 31,504 23,096
Tax 4,154 3,379
Social security and other taxes 18,251 18,880
VAT 8,515 11,972
Other creditors 49,284 39,499
Accruals and deferred income 2,129 421
145,320 119,386

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 8) 36,248 41,553

LIFTSAFE SOLUTIONS LIMITED (REGISTERED NUMBER: 06569773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
28.2.23 28.2.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,776 15,776

8. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 20,486 15,695
Bank loans 6,444 6,444
Other loans 4,553 -
31,483 22,139

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,444 6,444

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,028 19,333

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,776 15,776

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.23 28.2.22
£    £   
Within one year 12,000 12,000

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank overdrafts 20,486 15,695

11. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax - 2,293

LIFTSAFE SOLUTIONS LIMITED (REGISTERED NUMBER: 06569773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2022 2,293
Accelerated capital allowances (195 )
Tax losses (2,098 )
Balance at 28 February 2023 -

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 March 2022 (8,393 )
Deficit for the year (23,420 )
At 28 February 2023 (31,813 )

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
Mr W C Housham
Balance outstanding at start of year 10,510 7,347
Amounts advanced 2,296 7,488
Amounts repaid - (4,325 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,806 10,510

Interest has been charged on this loan at a normal commercial rate.

During the year, the director, Mr W C Housham, charged the company £312 (2022 - £312) for use of home as office.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr W C Housham.