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REGISTERED NUMBER: 10289924 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

TECHNICAL LIFT SERVICES LTD

TECHNICAL LIFT SERVICES LTD (REGISTERED NUMBER: 10289924)

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










Page

Balance sheet 1

Notes to the financial statements 2


TECHNICAL LIFT SERVICES LTD (REGISTERED NUMBER: 10289924)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 105,892 46,415

Current assets
Stocks 5,000 5,000
Debtors 5 86,578 49,396
Cash at bank 41,876 243,611
133,454 298,007
Creditors
Amounts falling due within one year 6 138,142 256,173
Net current (liabilities)/assets (4,688 ) 41,834
Total assets less current liabilities 101,204 88,249

Creditors
Amounts falling due after more than one year 7 (37,028 ) (42,802 )

Provisions for liabilities 9 (20,119 ) -
Net assets 44,057 45,447

Capital and reserves
Called up share capital 10 101 100
Retained earnings 43,956 45,347
Shareholders' funds 44,057 45,447

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 January 2024 and were signed by:




B J Young - Director


TECHNICAL LIFT SERVICES LTD (REGISTERED NUMBER: 10289924)

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


1. Statutory information

Technical Lift Services Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10289924. The registered office address and business address is 45 Balena Close, Poole, Dorset, BH17 7DY.

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 amounts receivable, excluding value added tax, in respect of lift engineering services provided in the ordinary course of business. Turnover is recognised when the service has been provided to the customer.

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
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

The following depreciation policies have been amended in the current year to reflect the estimated residual value of these classes of assets:

Plant and machinery - 25% reducing balance basis (formerly 25% straight line basis)
Motor vehicles - 25% reducing balance basis (formerly 25% straight line basis)
Office equipment - 25% reducing balance basis (formerly 33% straight line basis)

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 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
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.

TECHNICAL LIFT SERVICES LTD (REGISTERED NUMBER: 10289924)

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


3. Employees and directors

The average number of employees during the year was 6 (2022 - 3 ) .

4. Tangible fixed assets
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
Cost
At 1 August 2022 10,771 22,819 60,001 93,591
Additions 2,530 6,302 84,875 93,707
Disposals - (1,229 ) (21,153 ) (22,382 )
At 31 July 2023 13,301 27,892 123,723 164,916
Depreciation
At 1 August 2022 23,438 14,405 9,333 47,176
Charge for year 632 3,734 30,931 35,297
Eliminated on disposal (12,667 ) (1,449 ) (9,333 ) (23,449 )
At 31 July 2023 11,403 16,690 30,931 59,024
Net book value
At 31 July 2023 1,898 11,202 92,792 105,892
At 31 July 2022 (12,667 ) 8,414 50,668 46,415

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 74,741 49,396
Other debtors 5,715 -
Tax 2,806 -
Prepayments 3,316 -
86,578 49,396

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 6,348 6,420
Other loans 46,577 -
Trade creditors 34,870 171,931
Tax - 15,460
Social security and other taxes 8,613 -
VAT 38,256 7,424
Other creditors 366 -
Directors' current accounts 362 54,938
Accruals and deferred income 2,750 -
138,142 256,173

TECHNICAL LIFT SERVICES LTD (REGISTERED NUMBER: 10289924)

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


7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 6,348 6,420
Bank loans - 2-5 years 19,043 19,261
Bank loans more 5 yr by instal 11,637 17,121
37,028 42,802

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,637 17,121

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 5,500 -

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax 20,119 -

Deferred
tax
£   
Charge to Income statement during year 20,119
Balance at 31 July 2023 20,119

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
1 Ordinary A £1 1 -
101 100

1 Ordinary A share of £1 was allotted and fully paid for cash at par during the year.

11. Ultimate controlling party

The company is controlled by the director, Mr B Young, by virtue of his 100% ownership of the issued voting share capital.

TECHNICAL LIFT SERVICES LTD (REGISTERED NUMBER: 10289924)

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


12. First year adoption

These financial statements for the year ended 31 July 2023 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 1 August 2021.

The transition to FRS102 Section 1A small entities has resulted in a small number of changes in accounting policies to those previously used.

The nature of these changes and their impact on opening equity and profit, where applicable, is detailed in the notes to these financial statements.