Registered number
02456741
Edmolift UK Limited
Filleted Accounts
31 August 2023
Edmolift UK Limited
Registered number: 02456741
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 551,491 501,906
Current assets
Stocks 376,909 215,508
Debtors 4 766,053 635,722
Cash at bank and in hand 623,330 761,757
1,766,292 1,612,987
Creditors: amounts falling due within one year 5 (898,304) (1,008,580)
Net current assets 867,988 604,407
Net assets 1,419,479 1,106,313
Capital and reserves
Called up share capital 6,000 6,000
Profit and loss account 1,413,479 1,100,313
Shareholder's funds 1,419,479 1,106,313
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Papani
Director
Approved by the board on 21 November 2023
Edmolift UK Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover is generated through the sale of lifting equipment
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is not recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as it is not deemed material.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to pension plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 14
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 489,615 159,537 177,035 826,187
Additions 39,608 4,839 80,040 124,487
Disposals - - (87,057) (87,057)
At 31 August 2023 529,223 164,376 170,018 863,617
Depreciation
At 1 September 2022 114,571 127,375 82,335 324,281
Charge for the year 5,180 13,240 39,382 57,802
On disposals - - (69,957) (69,957)
At 31 August 2023 119,751 140,615 51,760 312,126
Net book value
At 31 August 2023 409,472 23,761 118,258 551,491
At 31 August 2022 375,044 32,162 94,700 501,906
4 Debtors 2023 2022
£ £
Trade debtors 231,581 360,527
Other debtors 534,472 275,195
766,053 635,722
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 151,368 134,525
Amounts owed to group undertakings and undertakings in which the company has a participating interest 101,767 101,767
Taxation and social security costs 124,611 67,151
Other creditors 520,558 705,137
898,304 1,008,580
6 Related party transactions
At the year end Edmolift UK Ltd owed £161,767 to Lyfthaus Limited. This was the maximum balance owing throughout the year and it was agreed no interest was payable. Edmolift UK Ltd is a company controlled by the directors of Lyfthaus Limited by virtue of their shareholding in Edmolift Group Limited.
7 Controlling party
Control of Edmolift UK Limited rests with Edmolift Group Limited as they hold 100% of the voting shares
8 Other information
Edmolift UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Blois Meadow Business Centre
Steeple Bumpstead
Haverhill
Suffolk
CB9 7BN
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