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REGISTERED NUMBER: 12987456 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

UK LIFTING SERVICES LTD

UK LIFTING SERVICES LTD (REGISTERED NUMBER: 12987456)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


UK LIFTING SERVICES LTD

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: S J Davidson
J Young





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 12987456 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

UK LIFTING SERVICES LTD (REGISTERED NUMBER: 12987456)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 177,301 221,627

CURRENT ASSETS
Debtors 5 110,553 74,891
Cash at bank 5,043 17,640
115,596 92,531
CREDITORS
Amounts falling due within one year 6 137,847 93,030
NET CURRENT LIABILITIES (22,251 ) (499 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,050

221,128

CREDITORS
Amounts falling due after more than one
year

7

(117,986

)

(195,550

)

PROVISIONS FOR LIABILITIES 9 (35,000 ) (21,000 )
NET ASSETS 2,064 4,578

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,063 4,577
SHAREHOLDERS' FUNDS 2,064 4,578

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

UK LIFTING SERVICES LTD (REGISTERED NUMBER: 12987456)

BALANCE SHEET - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by:





S J Davidson - Director


UK LIFTING SERVICES LTD (REGISTERED NUMBER: 12987456)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Uk Lifting Services Ltd 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 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
Tangible fixed assets are stated at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease term, whichever is the shorter.

Fixtures and fittings-20% on reducing balance
Motor vehicles-20% on reducing balance
Plant and machinery-20% on reducing balance

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments
Trade and other debtors included loans to related undertakings are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due. Directors loan accounts accrue interest using an effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


UK LIFTING SERVICES LTD (REGISTERED NUMBER: 12987456)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 233,800
DEPRECIATION
At 1 November 2022 12,173
Charge for year 44,326
At 31 October 2023 56,499
NET BOOK VALUE
At 31 October 2023 177,301
At 31 October 2022 221,627

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 87,571 19,858
Other debtors 22,982 55,033
110,553 74,891

UK LIFTING SERVICES LTD (REGISTERED NUMBER: 12987456)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 39,600 39,600
Trade creditors 2,150 -
Taxation and social security 17,615 6,134
Other creditors 78,482 47,296
137,847 93,030

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 117,986 195,550

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase 157,586 235,150

Hire purchase contracts are secured on the asset concerned.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 35,000 21,000

Deferred
tax
£   
Balance at 1 November 2022 21,000
Provided during year 14,000
Balance at 31 October 2023 35,000

10. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments totalling £22,124 (2022: £26,910).

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £45,714 (2022 - £50,000) were paid to the directors .

Included within Other creditors is £76,982 (2022: £45,797) owed to the directors.